White House Announces $6 Billion to Promote Clean Energy – in Asia

U.S. President Barack Obama attends the East Asia Summit at the Peace Palace in Phnom Penh, Cambodia Tuesday, Nov. 20, 2012. Obama is in Cambodia on the final leg of his three-country tour of Southeast Asia. (AP Photo/Heng Sinith)

Fred Lucas

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 article continues at CNSNews.com

UpdateUK offers “green deal” but no takers Not one application for loans designed to “green” 14 million homes

What if they gave a government program and nobody came?

Britain’s coalition government adopted the “Green Deal” as part of its scheme to reduce UK carbon emissions by 80% by 2050.  The plan provides loans of up to £10,000 to property owners for insulation and energy improvements with a goal of insulating and “greening” 14 million homes by 2020.  There are no up-front costs, rather the “deal” provides loans which are to be repaid over up to 25 years through higher utility rates…

…Perhaps UK citizens would be more willing to accept a deal which includes rate increases if Britain’s alternative energy schemes weren’t already driving rates painfully higher…

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