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And I got them ormat energy now and thankfully come rally the director of -- -- -- project is here with us.
Renewable energy we heard everything from algae to you know god knows what right there -- grass is -- that's right.
We have to get off.
Oil Sunday so is it so bad that we're talking about renewables.
Well first of all -- -- can't survive without subsidies that's the problem.
The bigger problem is.
Fossil fuels provide 85%.
Of our energy right so President Obama has -- war on fossil fuels which is really a war on the American people because as prices go up.
People's disposable income goes out the door.
The president Obama's running around the country saying he's -- all of the above energy policy which you don't hear one word out of his mouth.
President Obama is out to bankrupt the coal industry.
And if you look at the coal energy stocks you can see it life last year at this time.
Peabody Energy with selling about 71 dollars a share today 31.
Alf alpha natural resource -- sixty dollars a share today about sixteen.
-- what's going on is when Obama originally wanted cap and trade to go through even before he was president.
Maybe he was saying I want energy prices to skyrocket is really talking about electricity.
And it utility will be free to use coal but they would be bankrupt under my cap and trade plan.
Cap and trade failed so what's he doing he's using the Environmental Protection Agency.
To issue rule after rule after rule utilities can't pay for this.
And they're closing coal fired utilities.
There -- estimates up that fifty coal fired utilities will be closing which means -- electricity prices will skyrocket.
And we will be -- sleep facing.
Energy brownouts and blackouts.
How -- how fat I thought about this well first -- Why I would -- want to bankrupt the coal industry is really opened up with your original question its renewable.
Coal provides about 45% -- for electricity western -- -- actually now down to 1978.
Production -- laugh.
So that's huge within the main competitor for live that any compared to before -- global.
So what he needs to do is break the -- of coal.
To make it more cost competitive for the renewable no one's really talking about -- so coal really so then you're putting coal and oil in the same.
Bad bucket right all of -- are -- the -- because he doesn't even talk about it.
And he's putting regulations that actually isn't the stock speak for themselves he's hammering you know the coal industry.
And that's a giant storage because I mean.
-- to your point -- her hearing the consumer.
Again night tickets and I can get in my car and ninety NM I don't know they have everybody's talking about the -- to gasoline price is right -- we see every day faith we face every day.
But soon the utility bills -- to be seen -- same thing.
Duke Energy North Carolina is asking for 70% increase American Electric Power has that figure out how to pass on something like.
Eight billion dollars who's going to pass that on.
It's really gonna be -- to us and in the future and what's they start -- these these utility the coal fire without they're not gonna be opening up again.
So -- the real hidden story is is attack on coal and he's not talking about that but this is gonna be soon facing all -- the consumers the problem.
I would think though is that Nat gas is since -- So when we do talk about heating -- people who use natural gas while there have a kind of -- -- Right and -- it kind of camouflaged as the fact that while prices are going up I guess right in the -- the transition cost right.
You -- you have a call plan OK now have to shift to natural gas well there's money involved.
And then it's also the EP the rate of change they're not given these utilities really any time to change so they have to shut them down.
And that's why it is a good chance that it could be brown -- some walkouts if we have to really warm summer really yet.
The good years saying that these utility companies.
Just won't be able to for the Ford might not even handle afford the compliance with appliance costs right.
So you think -- could potentially to shut down they opted to about fifty have announced that they are shutting down between now when you know years out of the future.
But they've been state regulators like that -- state regulator of Texas is concerned about brownouts and blackouts because a number of coal fire plants close there.
And have to look at that the local economic impact.
Some states get 8590%.
Of their electricity from coal.
Indiana West Virginia I guess what the midwest states Ohio.
Gets about 80% of its electricity from coal whereas electricity gonna come from where -- the manufacturing gonna come from when you take that much power offline.
Where's it gonna.
Add to what they want renewable but you know it's not going to be and I expect they can't of -- -- About it now this -- that bothers -- that I just can't wrap my head around.
Everyone knows that you we can't wake up tomorrow and be you know fueled -- actually think that right we just you know that we know that tell the president.
Kinda done that.
He's got -- that -- by demonizing all this oil all these coal companies.
You know we need them for the next ten years we have -- that at least right you have to know that so what what when he -- the end game yes what do well you know again.
His -- I think -- real end -- is actually lower the standard of living of all Americans that's the only conclusion you can come from is energy policy.
Why in God's name would you want energy prices that go high when the economy is already struggling.
And with consumers more money is gonna go to the gasoline to utility bills that's less money -- of food clothing.
And consumer spending which provides about what 67% of our economy.
It's okay for -- supply -- for Brazil.
But not from you know Canada.
You want some -- going to developing nations look at -- get -- could be sent to China.
So -- -- -- -- cost of electricity but we can't use that that puts us at a huge competitive disadvantage are there any -- -- that you actually think are good idea.
Everything is a good idea over time and just can't force Steve can't -- them.
Technology down throughout this is an health -- this is and legislation that you know we've been through the F now.
Crazy and that's in work for anything right -- I mean there's gotta be is there anything coming down that you see could potentially be some sort of saving grace -- gonna take time and that's the problem is gonna take time for innovation Thomas Edison -- -- little light pole.
He didn't have government mandates you know.
This is what's gonna take time but you're not gonna get -- not gonna get there.
If you ratchet up energy prices so high that companies -- strangled that -- moves jobs overseas that's the problem though right the government is trying to come up with the answer themselves and it should allow the capital markets and their command right to call.
Reprimand Obama's -- he can't be venture capitalists how many of them how much of our tax dollars -- insulin -- in the Solyndra likes.
He and -- you know -- she's secretary -- he median Nobel Prize winner that he gets a failing grade is zero when it comes to venture capital why we surprise ticket and hey it's not very comforting -- -- -- it was that there listen to energy secretary say he wishes gas prices were higher.
My anyone Aussie dollar gas European south right -- -- let's not -- fuel efficiency standards for cars it's a mandate.
It you know -- -- tenth 1112 commands thou shalt not quite delightful it's like to like.
Thou shall get fifty miles per gallon with the you like it or not forget about liberty with this president.
This -- awesome -- That's out more about that anytime you gotta come back director of free enterprise project.
There's a website rate is it grand prize project dot com national censored -- or so so -- national center dot org.
That's Roy stuff that under the free enterprise project that if you look at the national center dot or Tom -- great thank you gotta come back.
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