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How do you feel about what you are paying these days to fill up your gas tank? Do you think anyone in Washington cares about how much you are spending? Well, there has been some interesting testimony in Congress recently.
Ed Morrissey at Hot Air posted an interesting article on recent testimony by Energy Secretary Stephen Chu.
The article reports:
When asked by Rep. Alan Nunnelee whether the Obama administration wants to work to get gas prices to come back down, Chu replied that they’re not focusing on that — and that higher gas prices mean more of a push for the alternative energy sources the administration wants to push.
As I have stated before–I don’t have a problem with alternative energy sources–however, those sources will develop naturally as they become cost-effective. The market needs to left alone so that the most efficient sources are developed. Government subsidies and interference simply muddy the waters and prolong the process.
The Heritage Foundation stated:
As shocking as his remarks are, they shouldn’t come as a surprise. Chu has a long record of advocating for higher gas prices. In 2008, he stated, “Somehow we have to figure out how to boost the price of gasoline to the levels in Europe.” Last March, he reiterated his point in an interview with Fox News’ Chris Wallace, noting that his focus is to ease the pain felt by his energy policies by forcing automakers to make more fuel-efficient automobiles. “What I’m doing since I became Secretary of Energy has been quite clear. What I have been doing is developing methods to take the pain out of high gas prices.”
One of those methods is dumping taxpayer dollars into alternative energy projects like the Solyndra solar plant. Another is subsidizing the purchase of high-cost electric cars like the Chevy Volt to the tune of $7,500 per car (which the White House wants to increase to $10,000). In both cases, those methods aren’t working. Solyndra went bankrupt because its product couldn’t bear the weight of market pressures, and Chevy Volts aren’t selling, even with taxpayer-funded rebates. What’s the president’s next plan? Harvesting “a bunch of algae” as a replacement for oil.
Meanwhile, the Obama Administration is seemingly doing everything it can to make paying for energy even more painful by refusing to open access to the country’s oil and gas reserves and blocking new projects that would lead to the development of more energy in America. Case in point: the president’s decision to say “no” to the Keystone XL pipeline, a project that would have delivered hundreds of thousands of barrels of oil from Canada to Texas refineries, while bringing thousands of jobs along with it.
High gasoline prices take a toll on all areas of the economy. They cause inflation in food prices and all other goods.
The article at Hot Air points out:
Congressional Democrats are ramping up pressure on President Obama to tap the Strategic Petroleum Reserve (SPR) to prevent rising gas prices from threatening the economy and their election-year prospects.
They are growing anxious that the price of fuel could reverse their political fortunes, which had been improving due to signs of growth in the economy.
Republicans have hammered Democrats on the price spike, repeatedly noting that gas prices — now at $3.72 per gallon for regular — have doubled since Obama won the White House.
Even if their motives are less than pure, it is nice to know that Democrats are at least aware that high gasoline prices are a problem for most Americans.
