Obama’s Radical “Green”Agenda has Stalled US Infrastructure Development
Oil and Gas company ConocoPhillips (NYSE:COP) requested a permit from the Obama Administration to launch an oil-drilling project in Alaska in early Y 2015.
The drilling project, dubbed the Greater Mooses Tooth Development (GMTD), is located within the National Petroleum Reserve and would create thousands of jobs in an economically depressed area of the State of Alaska. The project already had the full approval of the local community and poses little to not threat to the environment in a sparsely populated region.
GMTD is a multibillion-dollar jobs-and-infrastructure project with roads and housing and pipelines. It would not cost the federal taxpayers a red cent to build. And the royalties from the project will likely raise hundreds of millions of tax dollars for the federal government and Alaska.
A straightforward worthy energy project, yes?
Think again, for years, the Obama Administration tangled up the project in regulatory Red Tape.
“We are ready to break ground on day one after we get the permit,” a frustrated ConocoPhillips Vice President John Dabbar said in an interview recently. “We’re going to employ nearly everyone up there,” he adds. It still has not been approved, because Barack Obama hates fossil fuels.”
Expect President Elect Donald Trump to Green Light the GMTD drilling project when he take the Oval Office.
The radical Green Agenda of Mr. Obama has, for 8 years, canceled, delayed, denounced and disrupted these types of smart energy, mineral and transportation projects all over the USA. The value of these financially lucrative and job-creating initiatives such as the Keystone XL pipeline (NYSE:TRP) pipeline is in the hundreds of billions of dollars.
Now think about that in alignment with Donald Trump’s vow of as much as $1-T for new infrastructure spending.
Just today on TV one of the political pundits asked, “Where will the money come from to pay for these projects, given that the government is already running near-trillion-dollar annual deficits?”
It is clear that people are looking at this the wrong way.
Smart infrastructure investment in America does not require a red cent of new federal spending. The fact is that these projects can substantially reduce government borrowing and increase revenue inflows.
That said US President Elect Trump is expected to unleash the mighty spending of private, for-profit enterprise is to give the companies and the localities the Green Light to build, to drill, to mine, to invest.
A new study by the Committee to Unleash Prosperity, written by former US Interior Department energy expert Jackson Coleman, finds that the value of energy resources on federal lands could exceed $50-T. The federal leasing revenues and income tax receipts from developing these resources could reach $3-T.
The Obama Administration has held up at least 5 transnational pipelines that could create tens of thousands of high-paying union jobs.
In the mountain states such as Montana, Idaho and Wyoming, dozens of major mining projects for urgently needed rare minerals have been bottled up by the federal regulators.
Seemingly, Barack Hussein Obama would rather import these Key from resources from China.
Then there are Coal plants necessary to secure our electric power supply.
America desperately needs to build clean-coal-fired plants to ensure reliable electricity for our homes and businesses. Mr. Obama has shut them down and has bankrupted the industry.
America also need Crude Oil refineries and LNG (liquefied natural gas terminals) to allow America to export more of our abundant shale Oil and Nat Gas. Since the US has the cleanest Crude Oil, Nat Gas and Coal in the world, developing US energy is positive for the global environment and reducing Greenhouse gases.
There is a Key distinction between private and public infrastructure spending.
For-profit projects, by definition, must have a positive return on investment, and public infrastructure projects often have negative returns, because they generate so little revenue.
Think of the $70-B bullet train in California that will carry very few passengers. Would any private company ever undertake to build such a loser?
I recall many of the Obama “investments” in Green energy projects that have gone upside down, costing the taxpayers billions of dollars.
America needs road and bridge and airport improvements, but that is not what has been and continues holding back growth.
For the last 8 years under Barack Hussein Obama the US economy has severely underperformed because business capital investment in factories, equipment, computers, tractors, warehouses and laboratories has dried up.
That is a real crisis in America and delivered to our nation by its worst President in history.
And yet today the arrogance continues from the lips of Barack Hussein Obama, when he announced that he believes that if he was not constrained from running for President he would have won. Nutz!
President Donald Trump can fix that capital infrastructure deficit by giving permits to the myriad brick-and-mortar projects that will be privately financed, including the Greater Mooses Tooth Development.
So, with that America can solve the infrastructure problem and at the same time lower the budget deficit.
Trumpeting for Trump
Have a terrific week.
Latest posts by Paul Ebeling (see all)
- World’s Consumers Pursuing Good Health Drive Growth of Non-alcoholic Beverages - August 17, 2019
- Pebble Beach Concours d’Elegance, the Cars Took to the Road - August 17, 2019
- Ferrari (NYSE:RACE) The Business of Formula One Racing - August 17, 2019