Austan Goolsbee, Obama’s former chairman of Obama’s Council of Economic Advisers was interviewed by Larry Kudlow back in August of this year. Thjey had this lengthy exchange about ‘green energy’ and the restrictions on developing our own domestic oil reserves.
GOOLSBEE: Look, we have to–we have to promote domestic energy consumption. We have to do that in a way that’s safe. We don’t want to have the biggest oil spill again that has ever been had. We don’t want to poison the ground water. But the president, as I’ve viewed it, the administration believes that we can do that in a safe way, and domestic production is ramping up quite dramatically. Now it seems like you’re making fun of some of the alternative energy stuff, but if you look at China, if you look at Europe and if you look at a lot of the faster growing regions of the world, they’re heavily investing in it.
KUDLOW: It’s been a dismal failure in Europe.
GOOLSBEE: (Unintelligible)…alternative energy.
KUDLOW: It’s been a dismal failure in Spain. It’s been a dismal failure in Europe. I say, Austan, if the market…
GOOLSBEE: It seems like in China and Brazil it’s been quite a success.
KUDLOW: If the market wants to produce clean energy, it’ll produce clean energy. Natural gas from shale is clean energy.
GOOLSBEE: Look, I agree with that.
KUDLOW: I just don’t see why we don’t…
GOOLSBEE: I agree with that.
KUDLOW: …call the EPA dogs off. That’s one of these regulatory issues. Call the National Labor Relation dogs off of Boeing, Austan. In other words, some of this stuff, there’s very little presidents can do. I get that.
And, of course, Austan was misrepresenting the facts about China because they have determined that there is no profit producing electricity using ‘green energy.’ Also, we gave Brazil a large amount of money to for deep water oil drilling. Obama said, we will be their best customer.
Speaking of China, oil and best customers, if we don’t build the Keystone pipeline from the oils sands in Canada to the our refineries on the Gulf Cost China will become Canada’s best customer for crude oil.
Circling back to Austan Goolsbee; it seems he has really changed his tune about oil and economics now that he is not advising you know who:
People in the U.S. opposing TransCanada Corp. (TRP)’s Keystone XL pipeline are being “naïve,” said Austan Goolsbee, former chairman of the White House Council of Economic Advisers.
“It’s a bit naïve to think the tar sands would not be developed if they don’t build that pipeline,” said Goolsbee, speaking today in Toronto at the Economic Club of Canada. “Eventually, it’s going to be built. It may go to the Pacific, it may go through Nebraska, but it’s going to be built somewhere.”
TransCanada and Nebraska announced Nov. 14 they would collaborate on a new path for the $7 billion Keystone XL pipeline, intended to deliver crude from Alberta’s oil sands to refineries and ports on the Gulf of Mexico.
I guess, Mr. Goolsbee is working to repair his very tarnished image after his stint at the White House.