NCPA / November 28, 2011
Keystone XL vs. SolyndraThe two big energy stories of the moment are the Obama administration's announcement that it will wait another year before making a final decision on the Keystone XL pipeline, and the continued pummeling of the Department of Energy and Energy Secretary Steven Chu for their handling of the $529 million loan guarantee to Solyndra.
A comparison of these two projects, in the context of the Obama administration's decision to fund one and delay the other, is enlightening: it allows the American public to understand the priorities of the president and the motivations for his policies, says Robert Bryce, a senior fellow at the Manhattan Institute.
- The Keystone XL is a $13 billion project that doesn't depend on federal loan guarantees or production tax credits from the federal government.
- Keystone could create about 13,000 construction jobs in the United States, along with 7,000 manufacturing jobs -- this contrasts strongly with the 1,100 workers who lost their jobs with the Solyndra bankruptcy.
- Keystone would have supplied 700,000 barrels of oil each day towards the nation's energy mix (which is 37 percent oil).
- The Keystone's 700,000 barrels of oil each day, at 1.64 megawatt-hours per barrel, would have generated 380,000 megawatt-hours of electricity per day.
- Meanwhile, all of America's solar panel and wind turbine production for the last year amounted to 94.6 million megawatt-hours, translating to 260,000 megawatt-hours of electricity per day.
- Therefore, the Keystone project would have generated 46 percent more energy each day than the entire country's solar and wind output.
NEWSMAX: BOEHNER SAYS SOLYNDRA PROBE WILL BE 'RELENTLESS'
House Speaker John Boehner vows that Congress will be “relentless” in its probe into the role the Obama administration played in awarding solar energy firm Solyndra with $535 million in loan guarantees before it went bankrupt.
“They’re making the mistake that every White House makes — slow down the development of the documents, decide they’re not going to comply, redact the documents to no end,” Boehner tells Newsmax.TV in an exclusive interview.
“And all they’re going to do is drag this out.
“We are not going to turn our heads or turn a blind eye to what appears to be some incredibly horrible decisions. So the Congress will be relentless in our pursuit of the truth.
“All we want to do is get to the bottom of this. Because when we get to the bottom of it we provide the constitutional oversight that the Congress is there to provide. We teach our government lessons about what is doable and what isn’t doable.”
Boehner says he gets along with the president fine but admits that his relationship with Obama has been “frosty” in the last few weeks “as the president has decided to shirk his responsibilities to be a leader and gone out and decided to campaign full-time.
“It’s been a bit disappointing to me, and I haven’t talked with the president much during this period.”