In South America the socialists are addicted to oil, is there opportunity for market based “alternative energy” there?

We at ACC are very much for “clean energy” sources. The world has a giant nuclear reactor in the sky called the sun. It seems we should be able to figure out how to make it work for us.

However when governments get ahold of “clean energy” it is almost always about creating boondoggles that benefit connected contractors. Almost always. That’s what happened with the Obama “Greenrush.” (Paid for by you and me of course.) 

But in South America things,

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Trump appoints crony capitalism fan Rick Perry to head Dept of Energy

Perry has said that he wanted to close the Department of Energy, which is probably not such a bad idea. However we doubt that he’ll call for such a closing now. The department is full of opportunities. Perry has shown he is a fan of politically created business opportunities.

 

Rick Perry and Texas Crony Capitalism?

Meet the Real Rick Perry

GOP Hopefuls Better On Crony Capitalism?

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Recession Already Reality in Spots From West Virginia to Wyoming

I am sorry but we can’t help reposting this tweet from the president from last week.

We also can’t help posting this graphic from last year.

Pay attention to what the graphs actually say and what the measurements are, but it is pretty clear, even before the likes of Bloomberg and CNBC started talking about a looming recession a recession was looming.

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Buy Them Out: Greenpeace plans bid for Vattenfall’s German coal business

This is potentially good business and potentially good for the environment.* We have long asserted that the sort of approach outlined in the attached article is one of the ways environmental issues could/should be addressed. See a problem with a mine? Want it closed? Buy it. Shut it down. That’s a perfectly valid way to address things.

Want to protect the rain forest? Buy vast tracts of it. There are plenty of wealthy greens out there who would love to have a few vanity acres of virgin jungle.

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The real winner in Obama’s “War on Coal?” Surprise! It’s George Soros

The new regs handed down from the EPA have crushed coal in the wake of the beating the industry has taken from the market. (Fracking and super cheap natural gas is what put coal initially on the ropes.) So in classic Soros style the crony baron has swept in to pick up big pieces of decimated coal companies.

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Why the US nuclear industry is eager to save this obscure, government-run bank

Nuclear, though not widely known, is heavily underwritten by taxpayers. In the event of a catastrophic meltdown nuke companies are also only exposed to $10 billion in liability. The rest is on the taxpayers. That the nuke industry is subsidized by taxpayers abroad only makes “sense.”

And what’s funny is the nuclear industry wants to use the Export-Import Bank to underwrite the building of new nuclear plants in CHINA.

China.

Yet another reason to make sure the Export-Import Bank dies.

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Crony Capitalist Green Stuff—Alcoa Gets $269 Million DOE Loan For Already Built Aluminum Sheet Plant

These sorts of loans are typically vehicles for crony capitalism. Think Solyndra. But in this case the market has already resolved the issue. The plant the taxpayer backed loan is allocated for has already been built. The project was originally financed within the private sector. Why is megacorporation Alcoa now getting a plum loan?

The answer it appears is political. (Isn’t it always?)

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Employment in the USA since 2007 with and without Texas (Chart)

Cheap gas is great. I’m all for it. Seriously $1.90 at the local pump. Fantastic. But pretty much all net “real” jobs created in the US since the onset of the current economic calamity have been as a result of the shale gas revolution and in Texas specifically. The oil plunge has impacted this and Americans should be prepared for it.

It is interesting that according to the attached article Texas alone is the 6th largest producer of crude oil on the planet now.

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