Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Obama Not Walking Away From Clean Energy

Details

  • Description

    Robert Bryce of the Manhattan Institute discusses the cost of green-energy mandates.

  • Duration 3:55
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

President Obama continues his push for Green energy listen to what he said last week.

-- on these public investments they don't always come right away.

And some technologies don't pan out.

And some companies -- area.

But as long and I'm president I will not walk away from the promise of clean energy.

All right so there you have it the president simply is not backing down.

Even after all the taxpayer dollars lost on Green as -- programs.

Even after all of that he's not backing down.

Robert -- from the Manhattan institute is the problem welcome to -- weren't sure.

You've got -- started about a renewable energy mandates the -- the president is talking about your Q you will do this sure mandates.

Are -- citing that those mandates hooks me and Alba.

American consumers.

Well what we've looked at in this study would that we came out yesterday -- Manhattan institute is.

29 states have now and the District of Columbia and Puerto Rico have instituted these renewable portfolio standards.

Requiring certain amount of electricity be -- the coming from wind or solar.

And that it is clear that when you look at the the price impacts -- the last decade.

The states that have instituted these RPS mandates for residential customers their rates are over 30% higher than they are in on our.

The president -- -- You in your state you world by X percent of electricity from -- -- all wind -- I don't care how you do it that you're gonna -- -- Jim spoke about let's let's be clear here of -- Obama has in favor of a national renewable portfolio standard but he has nothing to do with these states passing these mandates so the states have done but the states have done that in many cases been a bipartisan move.

But what's interesting and in if you look at this -- -- the study that we've done and you look at we tried to segregate out states to have as like as possible and and compare them as like as possible.

So we looked at seven coal dependent states that have mandates and seven coal dependent states that don't.

That the rates in the coal dependent states that require renewable energy.

More that the increase more than twice the rate of those coal states that didn't have the mandate so.

If you look at the the cost of Green energy it's clear that it's far higher -- in an Energy Information Administration.

Numerous studies are finding that the renewable -- are far more expensive.

And it what's interesting is it's happening even despite.

This boom in natural gas production in the United States which is undercutting wind.

Undercutting solar and effectively making them on economic I know you primarily because if you woke studying the wind industry sure.

It's not been a success is -- -- a job creates and it's not produce that much energy on right.

Well look at some of that that the companies that received massive subsidies in the bail out one was -- -- To build the big project went out to wind project in California.

They receive nearly half.

A billion dollars from the federal government if you do the simple -- -- creating fifteen jobs it's on the order of nine million dollars a job.

The Texas comptroller in Texas Susan Collins that analysis on.

Wind energy related jobs and taxes one point six million dollars per job.

I mean it did have the backlash against the wind business is global and -- is growing its editor and get the one would below she's relatively -- I don't know that yet but isn't it a good investment in the long term can you Jack get a lot of money now you get you wind -- going in -- relate to you make some money -- -- cheap energy is that a fair assessment people will look Stuart the what the president's policy should be is cheap abundant reliable energy and right now that the shale gas boom.

Is unprecedented it's change the fortunes of the US energy business and in a pivot -- her abilities it's fossil fuel last Falwell's you know the unfortunately we still have this attitude that somehow fossil fuels are bad they -- the few of our economic recovery.

Let George Soros George Soros just a couple of weeks -- going free Zacharias show.

Said that who but he sees signs of recovery in the US US manufacturing sector why.

Shale gas and shale -- Robert Bryce from the Manhattan institute pointing out the other way he sees it thanks so much -- -- thanks mentioned.

Load More