I hear a lot of frustration from people who watched as President Obama went to Brazil and encouraged them to drill for oil, promising we would buy from them, all the while the deep-water wells in the Gulf of Mexico are idle and we aren’t drilling off Florida and California and in Alaska’s ANWR.
It seems the only energy Obama is enthusiastic about is wind and solar. However the point needs to be made that wind and solar TOGETHER make up LESS THAN ONE PERCENT of the energy generated in the US. Add to that the fact that, of roughly $250 billion spent on wind and solar last year, only $8 billion came from private investment. The rest came from some government entity (article).
In other words, almost no one believes in solar and wind power enough to invest their own money in it. Politicians are plenty willing to pour billions of other people’s (read “taxpayer”) money into it, but even environmental groups spent more on lobbyists than they invested in actual research and development of alternative fuels.
I’m in favor of the development of alternative fuels, but shouldn’t the people who talk about it all the time put their money where their mouths are?
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