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Manhattan Institute senior fellow Diana Furchtgott-Roth weighs in on new government energy projects.
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It's impacting his multinational -- you Robert Melissa.
Aren't they -- the Obama administration is looking at fast track more renewable energy projects and it wants to make the military more green.
The government should be going right now joining me now is Diana first got -- senior fellow at -- Manhattan institute thank you for joining us.
It's great to be leading Melissa thanks so much for having me on.
Let's the military -- the target there is really ambitious they're talking about 25%.
Of their energy should be green right 2015 of the same time.
You -- -- these automatic cuts due to sequestration that could slash half a trillion dollars from the budget over the next decade.
So does it make sense to ratchet up -- cost of energy right now.
It really makes no sense on military is stretched to its limit it's going to be even more stretched when -- -- goes through.
The military needs to have the least expensive energy possible and the same with American households.
All of us have got high utility bills from the -- conditioning for days from this hot summer.
And -- have a low electricity bills not high electricity bills that means using natural gas and coal.
Yet -- -- ratcheting up the cost for homeowners when you look at their track record of course when investing in energy now as these streamline these seven projects.
Mean everybody's heard about cylinder of course but let's focus on just the state of -- for example some of the projects -- they've invested lately.
The Silverstein and north plant got fifty million dollars in funding.
That only has two workers working their Crescent dunes receives 737.
Has fifty employees and and two others.
They put money in -- just gone Nevada geothermal bank wrapped.
Am -- -- got twenty million dollars that's closed right now the track record for the government -- winner is.
At just turns out to be a waste of money.
It really does and that's what I described in my book regulating the disaster how green jobs policies a damaging America's economy which is out this month from encounter books.
Good I'm wrong that bank here.
There's nothing wrong with fast tracking these projects that thing that's wrong.
Is having government subsidies for them in fact all these energy projects oil and natural gas should be fast tracked Virginia should be allowed -- -- all of that -- So should California these natural gas project should all receive bus track vanity.
But what we don't want is government subsidies for any of these projects.
What the argument that no green energy would be developed if it weren't for government investment and that we -- you know eventually the price of fossil fuel would go higher because we wouldn't have these alternatives -- respond to that.
Well that might have been -- ten years ago but now we have a 200 yes supply -- inexpensive natural gas.
It's about two dollar was ten million BT use we and -- G.
Self sufficient.
With on natural gas not that there's any advantage to being energy independent there's nothing wrong with -- -- from Canada and Mexico.
-- that we have a well not kid but we do have a local supply of natural gas.
But less expensive than solar and wind so there's no reason to be plowing government money.
In the solar and wind when we have a trillion dollar deficits and web borrowing forty cents out of every dollar yeah in the biggest point we're broke we don't have the money to do this even if we think it's -- -- Diana thanks for joining us classes going to be high utility bills -- America.
Yeah -- -- thanks for coming -- we appreciate your time.
Thanks so much.
