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Wall Street Journal’s Stephen Moore on Obama attacking Romney for opposing wind-energy tax credits.
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Each year -- re moving in the right direction joining me now is Steve Moore of the Wall Street Journal.
Steve it's great to have you back I was level -- when we talk about a company making money in and hanging on to part of it as -- subsidy.
Now earned that money in the it's it's -- confusing where the money is coming from the first place.
But let me just start by saying that's the one of things that primary interesting about the -- Wallace talk about wind energy is run the president another say this new industry win.
Yeah was a little -- -- no since the -- I don't -- it -- and there -- administrative kidding me I mean it's it's actually laughable to call this a new industry.
Here's the big problem with wind -- -- -- -- just to cut to the chase here you know win this potentially.
You know viable as an alternative to -- tool for our electricity to call a natural gas the big problem the wind industry has right now.
Is that natural gas prices are so high and low right now is so cheap there's just no possible way.
That -- can compete with gas that's -- that that three.
Dollar -- now this is a big problem I think what happened here most quite frankly is the president got on the wrong horse we should be investing heavily in pipelines for natural gas in several billion building Windmills that.
That cost -- kilowatt of electricity two or three times more.
No absolutely every night I used to work for another network which was also in the business of television but also the business of energy.
And they sent me out to wind turbine and we response to stand -- look at the meter and see how much energy it was producing and it was a negative number I said what does that mean.
And they said well it's burning more energy to have -- -- -- right now.
Then it's actually generating which is obviously a huge problem.
And so many -- -- -- say what I'm let me tell you what I'm for Melissa I really believe you know let let's really truly -- all of the above.
Energy strategy that that strips.
All of the subsidies look at if oil and gas are getting four billion dollars of subsidies by all means get rid of them now of course the all gas industry also pays.
Tens of billions of dollars a year in taxes -- is the wind is -- she pays nothing because they don't make any profits.
But look I'm a level playing field got.
I I want the market decide these things the problem we -- watch him for the last four years is -- -- album while these tax credits the president wants to expand we spent nine billion dollars in direct subsidies that.
To companies like -- -- on the solar side another.
-- the companies to subsidize with taxpayer money -- activities and they're still not competitive so I just I don't see a very bright future for when this -- right now given how much -- and how much natural gas we have.
Yeah I -- you have some new video right now the president.
I'm out touting his wing policy as well are.
But in it in any case I guess we're there we go -- out there with the -- -- which by the way it doesn't.
Look like they're really turning right I mean.
Look at them rank behind its -- they're barely moving and I think I -- guys on the ground blowing in that direction.
To trying -- I mean the problem is is that this is not I think get somebody who covered energy for a long time.
This is not the technology to back so at what point do you give up and move on.
It's not scalable this is the problem with both wind down solar -- it's just you know for some niche markets wind and solar can be just fine I mean if you live in -- in that Phoenix may be solar is the energy for you but that's not Salem bush scalable for a fifteen Troy.
Trillion dollar industrial economy and you know what you're talking about about the -- sometimes not turning -- -- one another problem we -- would win this -- and solar by the way is that oftentimes an up person producing electricity -- chemical plant there and and natural gas -- to back it up and it doesn't even reduced by the way for those who environmentalists who think this reduces.
-- emissions it doesn't because you have to have these back up systems to be running to make sure that we don't have brownouts.
That's right and also news TV could be enormous signs of those wind turbines everybody always ask me when -- would -- under one of those stories how much energy did it take.
To build one of those turbines and and you know how much carbon admission was admitted.
In the process of just making that thing in getting it out they're getting it up and running and then you've standard of failing merely -- But I mean just finishing -- out there in the field and it didn't stop there all day long with the camera.
In the where -- -- inherent in West Virginia and it never turned positive and we flew all the way there to do that story.
Very -- stuff -- Yeah well that happens also anyway with seller idea I actually once lived and -- -- that was heed advice vice electricity but I'll tell you more cyclical got a cold showers.
Even more I -- different Richard joining a privilege and you can do on the back about I'm not an idiot and.
