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While it is not a narrow our spend spend spend that's you see the motto this administration.
Trillion dollar deficits as far as the eye can see -- the Energy Department apparently announcing a 168.
Million dollar plan -- -- build more wind farms you know.
Let's bring in Robert -- senior fellow at the Manhattan institute.
This is almost laughable to me because you know bring in -- leader in wind.
The power said that you know these.
Offshore wind farms that I don't produces much -- we thought after all so Citi minute good idea and we're still spending money on it.
It Tracey this I think it's just another example -- that shows once again that the wind industry.
Is -- made most favored industry in America this an industry that has subsidies -- mandates and they get exemptions from.
Prosecution under federal wildlife laws and now -- unfortunately I think the Obama administration -- -- more money at the offshore sector which is it going to be incredibly expensive.
-- it -- -- we're sure hello video now I looks like floating Windmills but that's basically what it is right these -- kind of Alan though Warner somewhere.
Suppose really bringing power back to our fine country.
I think they important thing didn't have to realize -- Tracy is what is it going to be the cost of the electricity that may be generated offshore the Europeans are already seeing this.
If you look at the EIA data it's very clear.
The cost of offshore.
Electrician offshore wind produced electricity.
There's about two and a half times that what is produced by onshore wind turbines.
And about five times as much as is produced by natural gas -- so this electricity is going to be extremely expensive if it ever gets gets built here in the United States disturbance that is.
So it's more money it doesn't create as much power as we thought what what in God's name was the rationale for -- in this -- -- I think I know where your -- That's what -- this that's.
This is part of the Obama administration's.
Hold push there this all of the about -- strategy doesn't matter whether it works or not gets all the above.
We should be doing we should have a diverse portfolio clearly but we should be supporting that that that energy sources that can scale.
And that are are really viable the real news here Tracy is and in wind it's not in solar.
The real news -- courses in the in the breakthroughs in the oil and gas business in the shale revolution here in the US.
Great and that's the craziest part.
-- employee and the wind subsidies are what twelve times greater than not a boiling gas and why are we holding -- -- and totally -- oil and gas went.
As you say we're making great strides in the oil and gas industries.
Well an end and the cost of natural gas now is about three haven't checked it this afternoon about three dollars and forty cents.
Natural gas has to be about six dollars for onshore wind generated electricity to makes economic sense.
But to your -- you directly to your question.
This is one of the key issues now facing congress will they extend the production tax credit the 2.2 cent per kilowatt hour subsidy for wind generated electricity.
And there that the wind lobbyists in and out of full court press and congress should try and get an extended and I think it's been an in place now -- subsidize wind for more than twenty years.
I think it's time for them to stand open and not be able to produce on their own without subsidies.
The only -- in Washington is coming out of the below artsy make these rules Robert -- thank you for being here it's.
It's crazy times on Friday night thank you sleep pollutants -- them.
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