Is Obama’s New Energy Security Trust Trustworthy?
President Obama’s Energy Security Trust, announced this morning, expands offshore oil drilling operations in order to provide a tax base for alternative energy, which will in turn lead to economic growth.
The irony in the president’s proposal is that it exposes how alternative technologies rely on economic arrangements that are themselves reliant on fossil fuels. And, if they work as advertised, these energy technologies will spur the kind of growth that will increase pressure to extract and burn fossil fuels well into the future.
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