You're watching...
Manhattan Institute Senior Fellow Robert Bryce on whether the government will continue spending on green energy over the next four years.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
First hand.
Well it's been said the definition of insanity is doing the same thing over and over and over again and expecting different results.
So how does this apply to Obama's next warriors and office.
It's no secret his foray into -- capitalism didn't go so well remember the green companies backed buyer tax -- dollars they just grow and grow.
Many of them -- -- -- right side we are hemorrhaging cash by the day others have gone bankrupt all together.
Our next guest says you can expect nothing -- the same under this administration Robert Wright senior fellow at the Manhattan institute joins me now Robert it's always a pleasure to have you wanna show.
So we just sit -- that it was safe to bet.
That the president would be doubling down on his green that in his new administration -- -- use.
Well I am obviously remains to be seen Jerry I certainly hope that he takes a different tack in the next four years because we've seen.
Solyndra in our one -- 123 systems beacon.
Beacon power range fuel -- -- -- -- out of and and and and it's and it's and it's an accident it's been extraordinarily -- costly.
For the taxpayer right I think a better path if he's really it should -- Green technology -- clean technology is too.
-- -- the the research and development -- efforts at the federal level so that if there is some breakthrough to be had.
The federal government can fund that but I think clearly this venture capital model.
Has only well you know let's not break we're -- to be found wouldn't some private of company have found that already I mean.
That's seem to be sure most logical way to go look you said you don't know what the president's gonna do he gave us a little -- peak in his acceptance speech -- -- We want our children to live in America that isn't burdened by debt.
Threatened by the destructive power of -- warming planet.
I am looking forward to reaching out and working with the leaders of both parties to meet the challenge as we can only solve together.
-- -- -- -- So that's sounds a lot to me like I liked what we did the first warriors I think I'll do more -- Well I I watch the president's speech and that the the global warming comment really stuck out Gerri because well.
What has happened and IEA just a few months ago announced that the US.
Has reduced its CO2 emissions more than any other country in the world.
Which are remarkable accomplishment -- it happened because of natural gas so clearly if we're if that that what I think will happen in the next four years.
-- that the Obama administration in the EPA are gonna continue.
Imposing regulations on the coal industry.
Which will lead to more natural gas fire generation capacity in the US but I think it's clearly also going to lead to more coal exports from the United States so.
The you know the government.
Ever -- president can and so that's not.
Reducing.
Demand that's not reducing what reason for not listen here's what the National Mining Association had to say about what -- thinking back.
The current administration -- is virtually -- -- the construction of new cleaner coal based plants.
That -- -- is that necessary platform for the technology the president advocated these same policies have skewed the market against coal do you agree.
Well I think that's really the case we have a you have a lot of regulations in place that are that are.
Are putting -- behind the eight ball further you've got natural gas in many parts of the country.
That is it is is priced under -- so what's happening the US is going to be exporting more coal but -- the key point here Jerry with regard to global warming is this.
Last year 2011 alone global coal consumption increase by about three point nine million barrels of oil equivalent.
That's equal to all global solar all global wind and all global biomass come -- So the idea that the US idea that the US alone isn't and I somehow solve this CO2 issue is fundamentally flawed and and I don't know where the president is -- is is dreaming that he's going to be able to solve this issue.
Keystone Pipeline probably on hold we got a long way to go and Robert I know will hear from you again soon thanks for coming on tonight have a great weekend.
-- --
