John Felmy is chief economist of the American Petroleum Institute (API), responsible for overseeing the organization’s economic, statistical, and policy analysis. He has over 25 years’ experience in energy, economic, and environmental analysis. He received bachelor’s and master’s degrees in economics from Pennsylvania State University and a Ph.D. in economics from the University of Maryland. John is a member of several professional associations, including the American Economics Association and the International Association for Energy Economics. He was interviewed at the 2011 Conservative Political Action Conference (CPAC) in Washington, D.C., by William F. Jasper, senior editor of The New American.
Item: A letter from President Obama to congressional leaders, dated April 26 and posted on the White House website, urged that they “take immediate action to eliminate unwarranted tax breaks for the oil and gas industry, and to use those dollars to invest in clean energy to reduce our dependence on foreign oil.” Obama followed up by writing that he hoped “we can all agree that, instead of continuing to subsidize yesterday’s energy sources, we need to invest in tomorrow’s.”
Ironworkers Local 7 in New England has a complaint against the acolytes of “green energy.” Though there is a 16-turbine wind-power project planned in Sheffield, Vermont, and a 33-turbine undertaking in Dummer, New Hampshire, no locals will do the work: Ironworkers will be brought in from out of state.
In 2007, President George W. Bush signed into law an amendment, intended as a means to save energy and limit pollution, that will ban the incandescent light bulb effective January 1, 2014. Republican lawmakers have been tirelessly working to repeal the ban before it takes effect. In the meantime, however, companies are moving forward as if the ban is permanent. Two makers of lighting products have already produced LED bulbs that are said to be bright enough to replace the 100-watt incandescent bulbs, but there is a catch: the replacement bulbs are approximately $50 each. The new light technology will be on display at the LightFair trade show in Philadelphia this week.
On Thursday, May 12, the United States House of Representatives voted 243 to 179 to lift the offshore oil drilling moratorium. The bill could allow further oil and gas exploration in American oceans.
Entitled the “Reversing President Obama’s Offshore Moratorium Act,” the House-passed legislation demands that the Interior Department set a production goal of three million barrels of oil per day for it 2012-2017 leasing plan.