White House Touts Economic Success of Its Energy Policy

The White House touts its new report claiming to demonstrate the president’s “All-of-the-Above” energy strategy is an economic success and “path to sustainable economic growth.”

“U.S. gasoline consumption has fallen by 5.5 percent since 2007, or nearly half a million barrels per day. At the same time, production of renewable energy has increased rapidly.  Since 2008, electricity production generation from wind has tripled while solar generation is up more than ten-fold.”

“Rising domestic energy production has made a significant contribution to GDP growth and job creation … Tens of thousands more jobs have been created in the solar and wind industries. These figures do not account for all the economic spillovers, so the overall impact on the economy of this growth in oil and gas production is even greater.”

Washington Post: “The report … is designed to inoculate the administration against criticism that new Environmental Protection Agency regulations on coal-fired power plants, expected to be unveiled Monday, will … be a drag on economic growth … [But] some of the positive trends predate Obama’s presidency, which began in 2009.”

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