It’s as if President Obama’s taxpayer-backed green energy failures in the US didn’t waste enough taxpayer dollars so he spends an easy 6 billion in Asia in the same industry. Obama keeps pushing sustainable energy because that is where many of his cronies/donors reside.
Not to mention, Obama’s spending the 6 Billion Dollars for Muslim Green Energy.
The White House announced the federal government will spend $6 billion over four years for a “sustainable energy future” plan with Asian countries that involves loaning tax dollars to other countries to increase their purchasing power for U.S. technology, services and equipment.
“Recognizing that energy and the environment are among the most pressing issues confronting our region, President Obama, in partnership with Sultan Haji Hassanal Bolkiah of Brunei and President of the Republic of Indonesia Susilo Bambang Yudhoyono, today proposed the U.S.-Asia Pacific Comprehensive Partnership for a Sustainable Energy Future,” the White House announced Tuesday as Obama visits Asian Pacific countries.
The initiative comes after the Obama administration has been criticized for spending billions to subsidize U.S.-based green energy companies that went on to declare bankruptcy, including Solyndra, Ener1, A123, Beacon Power and other failed renewable energy ventures.
The White House announcement goes on to say that, “The United States will provide up to $6 billion to support the partnership.” Most of that will come from the U.S. Export-Import Bank, which will launch a $5 billion export credit financing program to certain Asian countries over the next four years “to increase access to American technology, services and equipment to implement energy infrastructure.”……………………………….
The White House estimates $9 trillion in investment for electricity will be needed through 2035 to meet the increasing demand in the region, which offers potential for U.S. industry.
The WH has no idea what will be needed or wanted or if the demand will increase through 2035. If it’s anything like Solyndra and Obama’s fantasy of green energy, I think we all know how this will end up.
“The Partnership will drive investment and facilitate progress on four key regional priorities: renewables and cleaner energy; markets and interconnectivity; the emerging role of natural gas; and sustainable development,” the White House release said. “We will engage with the private sector as well as partner countries in the region to determine specific projects within these four priority areas.” READ MORE