I was so busy reading about the Baltimore riots, the death of an important ISIS general, and Obama dissing our military once again, I almost missed this article from Stephen Moore of Heritage.
The picture above is from a website which dreams of just what we see in the picture: a utopia without fossil fuels and everyone lives in peace and harmony with Mother Earth.
Alas, Moore tells us exactly why the “green energy movement” is dead.
The boom in shale oil and gas along with the plummet of oil prices has led to its demise, even though you won’t find one greenie who will admit it. Take a look at this graph:
Obama has already taken credit for the fall of gasoline prices even though he still has oil and gas locked up on federal lands. It’s on private land where oil and gas has been steadily pumped.
Most of the government experts—and many private investors too—bought into the “peak oil” nonsense and the forecasts of fuel prices continuing to rise as we depleted the oil from the Earth’s crust. Oil was expected to stay way over $100 a barrel and potentially soon hit $200 a barrel. National Geographic infamously advertised on its cover in 2004 “The End of Cheap Oil.”
To the greenies, and even Obama’s chagrin, this didn’t happen.
When fracking and horizontal drilling technologies burst onto the scene, U.S. oil and gas reserves nearly doubled almost overnight. Oil production from 2007-2014 grew by more than 70 percent and natural gas production by nearly 30 percent.
Moore tells us that consumers are now shying away from the purchase of electric or hybrid cars which is hurting the battery business.
Obama and his minions have fleeced the taxpayers over and over with many a “failed” green energy project, the most infamous of course was the Solyndra debacle.
I wonder if anyone has told those protesters in Seattle who are trying to hold hostage a Shell Oil drilling rig on its way to the Arctic. Apparently not, they are still there.
Crossposted at Conservative Outlooks