Why does Obama think that he has to force companies to do something that he claims will save them money? What a waste of money.
With an aggressive plan that has put businesses on notice, the White House has recently targeted the country's biggest energy guzzlers: skyscrapers and buildings. Hospitals, universities and colleges, too.
Commercial and industrial buildings suck up about 49% of the country’s energy supply, worse than cars and trucks, says the Department. of Energy.
President Barack Obama has tapped former President Bill Clinton and General Electric (GE: 20.12, +0.26, +1.31%) chief executive Jeffrey Immelt to lead the way in cutting buildings’ energy usage by a fifth over the next decade.
The plan? Hundreds of millions of dollars in tax breaks, government loans and grants. Who pays? Oil companies, with potentially $39 billion in tax hikes.
Ironically, the Government Accountability Office says the federal government is the nation’s single largest energy consumer, its buildings making up 35% of the government’s energy consumption. . . .
Labels: Energy, Regulation