President Obama has fast-tracked green energy projects, and the results, thus far, have been awful. The Solyndra scandal is the best example. The feds provided this solar panel company $528 million in loans. Shortly after that, the company declared bankruptcy. See you later, a half-billion taxpayer dollars.
Many Americans were upset by this colossal waste of money, but not The New York Times editorial page. It headlined: "One company's failure should not deter robust public investments in clean energy." Now we know why the nation is more than $14 trillion in debt.
The Times editorial goes on to urge the government to pour more money into "green" industry in conjunction with raising fuel taxes, because that's what's good for America. "The surest way to guarantee that America gets its fair share of (green) business ... would be to enact a comprehensive energy strategy that raised the price of older, dirtier fuels."
Swell. Americans are already taxed to the max, and the Times wants the feds to impose even more taxes to discourage "dirty" fuel use. So, folks who have to drive would pay more as the government artificially drives up the price of energy. That would help the bad economy, wouldn't it? Consumers saddled with higher utility and gasoline costs. Yeah, that's the ticket to an economic rebound for sure.
But The New York Times doesn't care. The paper wants global warming to stop right now! And it blames fossil fuels for the heat wave. So, whatever it takes to get green energy on everybody's plate is going to be supported by the paper and some others on the liberal side even if it means wrecking the economy and running up massive debt.
A few months ago, I had an interesting conversation with T. Boone Pickens, the billionaire investor. He put up his own money to develop a massive wind power project in the heartland. T. Boone thought he'd found the answer: Wind would drive the clean energy movement. But the windmills couldn't deliver enough energy to make a profit. So Pickens folded and put the wind deal up for sale.
If the United States could develop green energy, I'd be first in line to buy some. I recognize the need for clean, efficient fuel. But you don't punish hardworking Americans by wasting their tax dollars and raising their taxes to fund the green dreamscape. That is irresponsible and brutally unfair. With literally trillions of dollars to be made, the private marketplace is where alternative energy should be developed.
If there's real green in it, things will happen.
Veteran TV news anchor Bill O'Reilly is host of the Fox News show ''The O'Reilly Factor.'' Visit his website at www.billoreilly.com. For archived columns, go to www.gwinnettdailypost.com/billoreilly.