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Heritage Foundation Policy Analyst Nick Loris on political and business leaders at the World Economic Forum pushing for government spending on green e...
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And yet despite the bitter cold world leaders are pushing to spend fourteen trillion dollars to fight global warning.
These leaders are meeting in -- -- Switzerland at this year's annual World Economic Forum and yet says they're telling us how to spend.
Our money -- say.
The only way to ensure long term economic growth -- to spend 700 billion dollars a year until 1230 to make the world economy more green.
That's fourteen.
Trillion dollars joining me down -- -- of The Heritage Foundation who focuses on energy environmental regulatory issues.
-- I gotta tell you you've got to hear what they say.
After what they called -- on the former Mexican president talking about the goal here economic growth and sustainability.
Are interdependent.
You can't have one without the other.
What do you -- Well if that's the case why do we need test subsidize it with taxpayer dollars if this is such a profitable idea.
If -- green energy market is -- multi trillion dollar economy.
Then let the CEO -- -- the venture capitalist figure that out but why are they spending your money why are they spending my money it makes zero economic sense and this culture of promoting these idea as where government capital only create government welfare are -- welfare and it creates corporate dependence.
And as we see it creates companies that fail as we talked about so many times on this show reap what you're talking about -- lender for a number of others that our government finance.
Now you would think that -- -- -- just whacked out green -- right coming up with wild ideas but in fact.
This bring growth alliance that colder on heads has numbers like the World Bank Deutsche Bank.
Any number GD HSBC.
As members these big companies who went in Davos in their expensive airlines.
I drinking champagne.
And they're telling us what to do with our taxpayer dollars it just in makes me angry and I think.
What's the fairness in that.
Yet there is no fairness and it's something really and Occupy Wall Street and the Tea Party years should agree on is this corporate welfare there's these huge companies.
That are really pigs at the trough when it comes to taxpayer money and it doesn't matter how big the company or how small the company.
If there's money to be had these companies are gonna go after and we saw -- the cap and trade bill.
We saw which is floating the idea of a carbon tax help people out ideas how to spend that that tax revenues so.
This is what happens when you create new revenue streams and when there's money just be spent these companies are gonna come crawling for it.
Well thank you I'm sure you heard the president speaking of the inauguration he was talking about how important investing in.
Green energy says how -- intends to continue but there is no track record of success with the Department of Energy what do you say.
Yeah that's exactly right and -- you look at the tens of billions that were spent in this stimulus at all.
Lots of failures and the successes again that's only patting the bottom lines of the companies that were successful and take a look at Western Europe their company of their countries are going bankrupt and they're scaling back their subsidies they're not doubling down because they realize.
That this of that trial and -- approach so you have exhibit a and exhibit.
Because they simply don't work and are unnecessary.
You know what's really interesting here I think is that we have had more energy explosion in our country.
But it's been led by natural gas and fracking and the president can't claim any responsibility for this so something energy is really working in this country.
But it's not the green initiatives.
That's right it's happened in spite of the president's policy is not because of them and you have.
An effective state regulatory regime that -- to -- regulating hydraulic fracturing for six decades now.
And you've had this explosion in economic growth.
Low energy prices which is saving consumers.
Ton of money -- and that means more money for them to.
I'd go to the movies to go out to eat and and pads their wallets and just the economic growth that's revitalize the manufacturing sector.
It and many countries like Ohio and Pennsylvania that desperately need it.
That's absolutely right it's just been an economic boom for some states out there.
-- me to sit down write a letter to call -- -- Selznick thanks for coming on tonight really appreciate your time thank you so much thank you.
