Obama Vows to “With or without this Congress, I’ll continue to do whatever I can....."

“With or without this Congress, I’ll continue to do whatever I can to develop every source of American energy, so that our future isn’t controlled by events on the other side of the world,”.(CNSNews). Despite some green energy failures, such as the bankrupt Solyndra solar panel company and weak-selling Chevy Volt, President Barack Obama said that he wanted to “double down” on green energy spending, and would do what he could even without Congress to subsidize these companies.
Obama’s assertions, at the University of Miami on Thursday, come after numerous reports of green energy firms that received large sums of federal loans and grants but which have either declared bankruptcy or hit financial problems.
In his remarks, Obama sought to draw a contrast between subsidies to green energy firms and $4 billion in tax breaks for oil and gas companies.
“A century of subsidies to the oil companies is long enough,” Obama said. “It’s time to end taxpayer giveaways to an industry that’s never been more profitable, and double-down on a clean energy industry that’s never been more promising.”
CBS News has reported that the administration directed $6.5 billion in taxpayer dollars to a dozen different green companies that now face financial hardship.
Obama acknowledged that not all companies backed by the federal government will succeed, but said he would not be deterred.
“The payoffs on these public investments don’t always come right away. Some technologies don’t pan out; some companies will fail,” Obama said.
“But as long as I’m president, I will not walk away from the promise of clean energy,” he said. “I will not cede the wind or solar or battery industry to China or Germany because some politicians in Washington refused to make the same commitment here in America.”
“With or without this Congress, I’ll continue to do whatever I can to develop every source of American energy, so that our future isn’t controlled by events on the other side of the world,” said Obama.Read the full story here.

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