Amid gridlock over government spending and debt ceilings, green-energy advocates and rent-seeking businesses are convening in Washington, D.C., to renew their push for billions more dollars in taxpayer giveaways.
Wednesday’s gathering of theSecuring America’s Future Energy Foundation could be called the Subsidy Summit, Watchdog.org reports.
Member companies – from General Electric to General Motors, which the federal government bailed out – lobbied Congress to pass S. 948 last year. The bill includes $2 billion in government grants to communities to put 400,000 electric cars on the road.
Still sitting on Capitol Hill, the measure also would set aside $25 million to electrify the federal fleet and put $235 million into research and development for electric vehicle batteries and infrastructure.
Betting on the come, FedEx plans to convert its fleet to electric. GM makes electric vehicles, GE provides charging stations — and pliable politicians are lending a hand.
Among the summit’s scheduled speakers are Carol Browner, Bill Clinton’s EPA chief; Daniel Akerson, chairman and CEO of GM; Jeffrey Immelt, chairman and CEO of GE; former Secretary of State Madeleine Albright, Mack McLarty, Clinton’s former chief of staff; and energy mogul T. Boone Pickens.
A few Republicans, including Indiana Gov. Mike Pence, will be on hand, too.
Marking the 40th anniversary of the OPEC oil embargo, SAFE asserts the oil market is not a free market.
Yet SAFE played a crucial role in mandating higher mileage standards. Those rules now act as a cap-and-trade system in which automakers, such as Ford, effectively subsidize exotic electric vehicle makers, such as Tesla Motors. That helps shave the six-figure price tags for millionaire buyers, such as Matt Damon.