President Trump is Not Willing to Risk US Energy Wealth for “Windmill Dreams”

President Trump is Not Willing to Risk US Energy Wealth for “Windmill Dreams”

$USO $OIL

President Trump rejected the theory that a source of electricity, wind power is efficient, saying it does not work “all that well.”

“We’re the No. 1 energy producer in the world,” President Trump said at the end of this G-7 Summit in Biarritz, France. “I’m not going to lose that wealth on dreams, on windmills, which, frankly are not working all that well.”

The comment, in response to a question about climate change, is the latest in a line of statements from the President snubbing wind power.

Energy Secretary Rick Perry talks about the benefits of wind like a race track tout, as it supplies about 20% of electricity in his home state of Texas.

President Trump notes that turbines are “monstrous,” are “killing all the eagles” and “cause cancer“.

His comment Monday came after the Energy Department released a report finding employment in the industry has risen to a record 114,000 full-time jobs. It is also claimed the cheapest new source of electricity in some regions of the US, except that it is not efficient and is subsidized by the American taxpayer.

We think the president is making a political miscalculation in his comments on wind energy,” the CEO of the American Wind Energy Association, said in a statement.

To be clear, wind energy does have grave shortcomings. Earlier this month in Texas, wholesale power prices surged 40,000%, in part because output from wind farms fell during a heat wave. And in the UK, more than a million homes lost power on 9 August after turbines in the North Sea tripped offline.

The world is awash in Crude Oil, it is the most efficient fuel there is and the US is the No.1 supplier.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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