Obama and Energy

Our Dear Leader’s views on energy are, to be blunt, just a little fucked up. They show many of the hallmarks of anti-growth ideology mixed with incompetence. For example, his FERC (a little known but massively influential federal regulatory agency) nominee Jon Wellinghoff demonstrated this by not understanding a concept as simple as baseload power supply.

Our Dear Leader campaigned on creating "good jobs" especially for the beleaguered blue collar job markets. In order to win swingstate Ohio, Obama promised to secure loan guarantees for a retooling project at the Piketon enrichment plant. A loan guarantee would be a win-win on so many levels: provide good blue and white collar technical jobs, maintain the nation's nuclear capacity and not cost the government a dime if the project worked out (as it was most likely going to).

So what happened to Obama's promise:

The Obama administration's rejection is a turnaround from the stance of candidate Barack Obama, who pledged while campaigning in southern Ohio in August to "work with the Department of Energy to help make loan guarantees available for this (the Piketon enrichment plant) and other advanced-energy programs that reduce carbon emissions and break the tie to high-cost, foreign energy sources."

Overall, the project would have employed 5,700 directly or indirectly in eight states, the company says. In Piketon, more than 600 already are working. A fully operating plant, which USEC wanted to begin operating in 2011, would employ about 400 for years to come.

I know, $2billion is a lot of money but the administration rolled up it sleevs, sharpened its pencils and made an unexpected move to provide $2billion in loan guarantees for offshore oil production .. in fucking Brazil.

The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil's planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.

After all, Petrobras has shown itself capability to pull off large scale offshore energy projects in the past haven’t they?