In the Pipeline: 10/24/12

We have been preaching this gospel for some time.  So have the folks at House Energy and Commerce. Energy & Commerce (10/23/12) reports: “Unconventional oil and gas production could support up to 3.5 million jobs by 2035 according to a new study released today by IHS Global Insight. This new study, America’s New Energy Future: The Unconventional Oil and Gas Revolution and the Economy, complements previous IHS research on the economic impacts of unconventional oil and gas production made possible by hydraulic fracturing technology. In addition to its job creation potential, the report finds shale energy production will help boost government revenues, reduce chronic deficits, and help revive American manufacturing.”

Their carefully crafted myth of scarcity is about to completely unravel. Podesta, Browner, Gore, Pope, McKibbon, Weiss, Et. al. will certainly blow a gasket when the U.S. overtakes Saudi Arabia in oil production. And we’re not even drilling on federal lands at the moment.  FuelFix (10/23/12) reports: “U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world’s biggest producer.”

Let’s make it simple.  The Obama crew, through regulation, is impairing assets in the coal industry – railroads, mines, power plants.  The utility MACT has lots of costs, and just about no benefits associated with reducing mercury.  So when the President tells you he loves the coal industry, take another look at the record. That is all. USAToday (10/24/12) reports: “Coal advocates say the Obama administration is pursuing costly new regulations on mines and on power plants that burn coal will be a devastating blow to the industry… “If there’s less coal being demanded, especially certain types of coal, that certain jobs are required for, then you are going to reduce” mine employment, said Dan Kish, senior vice president of the Institute for Energy Research.”

Think about this when we start talking about coal exports next year. We can either export our products or our people. It is just that simple. WSJ (10/23/12) reports: “Charles Stella has struck blue-collar gold: a mining-industry job in Western Australia… The 31-year-old boilermaker from Pittsburgh is one of the relatively few American workers who have been picked to pluck and process minerals in such remote regions and under such demanding conditions that wages for even driving a truck have climbed north of six figures.”

We offer this because it is difficult to keep track of the failures. Green Corruption (10/20/12) reports: “UPDATE: New calculations, October 23, 2012: 23 bankrupt, 27 troubled, equals a new “Obama green-energy failure” list total of 50. At least $15 billion of “green” taxpayer money is either gone or still at risk, and the majority was funneled to Obama and Democrat cronies –– percentage of cronyism is hovering around 60% (29 of the 50), until I have time to dig further.”

We missed this last week.  That is okay, because the writer missed the number one reason why people with a brain might oppose a carbon tax – it solves nothing. National Review (10/19/12) reports: “Jim’s arguments persuaded me that a carbon tax is not as attractive an idea as environmentalists tend to think, particularly in light of the compromises that would be involved in practice. Like David, however, I wouldn’t rule out a domestic carbon tax, though not for the reason he offers (i.e., to give a boost to green technology). Rather, I think a small carbon tax could be justified on public health grounds.”

Seriously?  We can hardly wait for the depositions to start. Watts Up With That (10/23/12) reports: “Today, the case of Dr. Michael E. Mann vs. The National Review and The Competitive Enterprise Institute was filed in the Superior Court of the District of Columbia. Dr. Mann, a Professor and Director of the Earth System Science Center at Pennsylvania State University, has instituted this lawsuit against the two organizations, along with two of their authors, based upon their false and defamatory statements accusing him of academic fraud and comparing him to a convicted child molester, Jerry Sandusky.”