(CNSNews.com) – President Barack Obama warned his supporters about the threat of global warming and vowed that more money to subsidize green energy firms would prevent it.
“By the way, yes, my plan will reduce the carbon pollution that is eating our planet because climate change is not a hoax,” Obama said at a campaign rally at the Bank United Arena at the University of Miami. “More droughts and hurricanes and wildfires, that’s not a joke. That’s a threat to our children’s future, and we can do something about it.”
Obama said that he planned to spend more money to subsidize green projects such as wind and solar if elected to a second term. Obama’s Republican opponent Mitt Romney has criticized him for spending $90 billion on green energy companies, many of which went into bankruptcy.
This week, the House Energy and Commerce Committee announced it is seeking information from the Department of Energy about a $400 million loan to Abound Solar, which recently filed for bankruptcy. Abound was the fifth stimulus-funded green energy firm and the third to file for bankruptcy after Solyndra and Beacon Power.
Obama vowed to pay for the subsidies by taking away tax breaks to oil companies.
“So, now you’ve got a choice. My plan would cut our oil imports in half and invest in the clean energy that has created thousands of jobs all across America,” the president said at the Florida rally.
“Not just oil and natural gas, but wind and solar and clean coal technologies and fuel efficient cars and long lasting batteries. If you want to know how we’re paying for it, one of the things we do not allow oil companies to collect another $4 billion in taxpayer-funded corporate welfare every single year,” Obama added.
Obama said the United States should not fall behind the rest of the world in the green energy markets.
“I will not let China or anybody else win the race for clean energy technology,” Obama said. “I want to see that technology develop right here in Florida, right here in the United States of America, creating jobs right here.
“By the way, yes, my plan will reduce the carbon pollution that is eating our planet because climate change is not a hoax. More droughts and hurricanes and wildfires, that’s not a joke. That’s a threat to our children’s future, and we can do something about it.”