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President Obama wants $2 billion in new 'green' spending

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    Shouldn't DC be looking for areas to save money?

  • Duration 9:10
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Well.

-- at first you don't succeed.

Today Knoll area holds more promise than our investments in American energy.

The president making new calls for more greens spending the same week a government report revealing some major misuse in -- green grant.

A 150 million taxpayer dollars going to electric battery -- where inspectors found employees playing video games board games cards.

Even working -- animal shelters all while on the clock and you only batteries they're real little so far there in South Korea and we keep hearing stories like this.

So at a time when we're desperately looking for places to cut the federal budget is this a perfect place to start hi everybody I'm David has been bucket of words aren't marks let's go is all this -- -- Steve Forbes -- -- Elizabeth MacDonald Morgan bread and -- -- guard.

And Mike -- zany and so Steve if you want -- cut waste is this the place to start.

Sure David Green energy's great -- to -- green dollars if green energy had any promise parchment or should be in on it they do take a long term view and in terms of clean energy we have a right in our own backyard with natural gas.

Remove obstacles to that we'll have all the clean energy we want and need at exported to the rest of the world.

So Rick you're against government waste this was an incredibly wasteful program is this the place we should start -- You know -- guys I actually came up with a very short quote that I think speaks to this point better than I can ever hope do so I'm gonna read it very quickly.

Federal investment in science and basic research.

Has led to numerous innovations and commercial successes from lasers to -- players and from the Internet to MRI scanners you never said that.

One Mitt Romney in his book no apology the case for American greatness and that is the point look.

Government has always been involved in our greatest progress they're always going to be involved.

All the things we count on today government played a role it.

And they -- always been this sad sacks and the naysayers who want to just not move forward and leave things that -- as they are.

These investments are critical and by the way.

The actual losses that we sustained in this clean energy is supporting programs three point 6% have gone wrong that's about a third of what the estimate -- I don't like those -- and the list is as far as -- long as my -- here we have companies like.

8123 it's not just a lender by the way everybody focuses and so address Evergreen Solar and -- one beacon power.

We have a long list of companies that are either have either failed or are failing.

That we've tried to pump up with government money -- -- with my research I found fourteen failing solar companies that have already cost taxpayers over three billion dollars.

If President Obama wants the play venture capitalists with taxpayer money he should remember this.

That the type of progress that Rick is alluding to is an early stage R&D it's not giving huge vast sums of taxpayer money for companies operate and it's tax credits forever not -- this -- the big problem.

It for Obama the private sector which would buy these goods.

Doesn't want them and more well I -- example of that Morgan is electric cars they keep trying to voice will -- cars and the American public.

They don't want them Tesla.

Has a new electric car they got over 400 million dollars in loan guarantees from the federal government.

Turns out at least according to New York Times they don't deliver what they promise.

Yeah I'm gonna stay away from that age -- right now for a little bit but what I am guessing -- yes we we are seeing a lot of waste and I do think there's a lot of room to streamline that waste.

I don't think we should be cutting off all greens spending.

Going back that President Obama and out what he pitched this week in his state of the union speech.

He's talking about two billion dollar clean energy transportation fun yes he talks about electric vehicles I have my issues with -- -- also talking about going back to Steve's point.

Natural gas and domestically produced biofuels that.

If we want to compete against on the world stage against China or India or Brazil than we do need to be looking at those airlines absorb.

-- we we need Nat gas I just wish you tell the EPA that rich.

What about the argument that -- Rick made which is that we're always hearing about government being the pioneer that.

Government is this seed capital for innovation is that true.

He makes half a point you know but I -- is all wrong.

If you look at the inner you know so many of the examples that Rick talked about.

Chiefly the Internet came through military.

R&D in Nevada -- our.

-- military our.

RD works because there's a sense of urgency there's an -- financial threat.

But the actual development of the company's you know.

When John F.

Kennedy said we're gonna put a man on the moon by the end of the 1960s.

The reason we that we are able to do so.

And leap ahead of the Soviet Union is because of the semiconductor companies in Silicon Valley and -- the military bottle a lot of semiconductor.

Tips during that period but guess what these were privately funded companies.

And they had PNL's that they -- to worry about and that's the key difference between these green technology boondoggle so.

Car guard rich program that is that.

-- technologies that seem to be working coming out of the government come from NASA or the military and that's what we're seeing working.

Was of course a lot of spaghetti taxpayer dollars -- at the ball.

But what we're seeing now on the markets the markets don't want electric cars that don't want -- these electric battery cars at least -- Spiller going to be stranded in the woods without any guide guests or any power to get out of the woods.

And it stresses them out and so.

You know when we talk a lot also about -- -- that yes has helped by the federal government.

But there was a resource that was sitting there electric batteries have to be developed by people with a lot of taxpayer money and.

At -- even even folks like that from the Washington Post Charles Lane.

Was talking about how Americans just don't want electric cars for all the money we pour into these projects -- that.

Tax breaks we give to people who who buy them.

Americans still don't want to because they deliver inferior performance at a much higher cost like much of what the government does.

So going back to my point -- and streamline where we're making these investments and there is a wealth of data that shows that some of these investments have been very wasteful -- -- -- natural gas.

There's a lot -- the government can do -- great example we should be building out infrastructure with some of our green money.

I had to be shipping Alan G out to places like China where at where demand it's.

I got a big battle over that right down the question is which side the president will come down on.

But Steve the fact is is that some so often we hear lip service given -- things like natural gas but.

You look at where they're actually spending the money and it's on these battery -- issues that always fail or Windmills that don't perform as they as their claim.

Yeah Richmond a good point about our.

-- based R&D but in terms developments got to be the private sector and Alan -- liquefied natural gas.

That government probably gonna block a lot of those of facilities even though some of them are up and ready to go.

And so what we've got a huge market here and around the world let's remove the obstacles is clean energy -- we have that already.

Rick what about that natural gas have if we want to go with some kind of the government support for things that'll.

Get its independence from the oil she Scola natural gas that is a proven track record I got no problem natural gas the president has -- right it's all the above but guys but the president said Japanese not knowing in my -- -- -- All of -- -- -- to the EPA did you know that when their original car was invented when he came about.

Americans didn't respond to what they thought the worst and buggies were fine you've got to -- that got somebody that you -- eventually America.

Yeah -- -- love the electric.

What is it that Rick is saying Steve that eventually Americans will grow to love the electrical -- well until that happens we have to pour all these billions into -- do you -- Steve.

Absolutely not talk or nurse will do what what made the car of something you're working people could afford was Henry forty did not work for the US government got no money from the US government he did it on his -- that's the way it should be asked.

We salute their parents know venture capitalist who's gonna put -- for falling all of those battery operated cars because they know the markets don't want it because Q but it's stressed out they know they're going to be stranded if the battery runs out they let you talk tenure as didn't know these are -- to be expensive toys to drive to the neighborhood.

Stranded or how to get rich rich car -- has all of that is second all that we have another example of this which is which is wind power for twenty years we have been.

Subsidized -- we just agreed to spend another twelve billion dollars on wind power in the last budget deal that was made.

And over twenty years it cost more to get energy from wind than it did twenty years ago before we begin -- Yet you know funny enough you mention that on Saturday I was riding my bike over the Altamont pass where they're all kinds of Windmills in northern California.

It was so windy I almost got blown off my bicycle and yet not a single -- -- was turning.

You know explain now winds are not considered a resident Daria that military university level we got to leave it -- yeah.

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