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$90 Billion in Green Energy Stimulus => 16,100 Jobs

Written by Gary North on May 29, 2012

The green energy sales pitch is basic to President Obama’s President Obama’s re-election campaign. Environmentalists favor it.

The justification is more jobs.  But here is reality: only about 16,000 new jobs have been created. That is $5.6 million per job.

This is not highlighted in his campaign literature.

The bankruptcy of Solyndra got a lot of unexpected negative publicity. But it was soon swept under the rug.

In 2008, he said: “We can invest $15 billion a year in renewable sources of energy … to create 5 million new jobs, new energy jobs, all across [the] country, jobs that pay well, jobs that can’t be outsourced.”

The number of new jobs is not impressive.

Then there is the decline in wind energy jobs. One estimate is 10,000 jobs lost since 2009. Of course, without government subsidies and tax breaks, the industry would be unblowin’ in the wind.

There were supposed to be 200,000 new energy-related jobs from the $90 billion invested (squandered). That would have been $400,000 per job. Still too expensive, in my view.

If you want to see a 44-page piece of puffery from the White House on the benefits of this expenditure, click here.

The answer from the White House is the old favorite: “We need more time.”

Yes, and more money. Always more money.

“This is an industry on the rise,” Obama said at a wind turbine factory, calling on Congress to extend his tax credit for wind producers. “And as you know, it’s an industry that’s putting people to work.”

If a new technology shows promise, let private venture capital firms fund it. Let them put their money on the line. Why should taxpayers fund such projects? Why should energy bureaucrats determine what is the correct approach to solving the energy problem?

The waste is inevitable — like $5.6 million per job created. It would have been cheaper to write a $1,000,000 check (tax free) to each of the 16,100 workers.


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18 thoughts on “$90 Billion in Green Energy Stimulus => 16,100 Jobs

  1. Patriot1776 says:

    It is not obama's or the government's place to create jobs. It is government's place to stay out of the way and allow private enterprise to work. Over-regulation by the EPA, DOJ, NLRB and the rest of the alphabet soup of D.C. prevent investment in anything that will create jobs. What we need is less government, reduce the tax burden on the working, reduce the hand outs to the taking class, and let capitalism work as it has for the last 200 years.

  2. billstanley1 says:

    The General Accounting Office (GAO) claims federal land known as the Green River Formation, at the juncture of Colorado, Utah and Wyoming, may contain more oil than the rest of the world's proven reserves. http://www.newsandopinions.net

  3. But the jobs that Obama created with this money are IMPORTANT jobs that make their actual number irrelevant.

    Nancy Pelosi's brother-in-law is now self-employed. He has to work full time to count all the money that he has acquired thanks to guaranteed Energy Department loans to now defunct companies that he invested in. These companies went bankrupt because all the money disappeared.

    Many donors to the Obama campaign now have government jobs writing checks for handouts to illegal aliens. Illegals who are related to Obama go to the head of the line. The Obama administration has unofficially classified standing-in-line-to-receive- government-entitlements-as-a-noncitizen as a job. That is why the unemployment figures are low enough to get below 20%.

  4. sean murry says:

    they are full of crap.

  5. Green Energy . Hmmm , Barry, wake up and smell what you are shoveling . You have invested in two so called Green Energy Companies and both have gone belly up . Both took the money , gave our big bonus pay outs to their upper management people and laid off the workers . Now you want to do it all over again and expect America to go right along with it .
    Wake up and smell the manure , green energy may work one day , but that day is far in the future .

  6. Mutanteone says:

    How many of these "Green Energy companies" like Solyndra got the money and folded ? How much was kicked back to Obama's reelection funds? Remember Solyndra was run by major supporters of Obama's

  7. connie davis says:

    you did not mention the money that obama got kickedback to him.

  8. JOE TEE says:

    Proverbs 18:9
    He also that is slothful in his work is brother to him that is a great waster

  9. The real problem is all those workers without jobs that are no longer counted as unemployed. The true unemployment rate is 16%. You see, after a worker has been out of work for a certain time period, the government stops counting him as unemployed. They say he is no longer looking for a job. Which as everyone knows is BS. Simply cooking the books doesn't change reality. If it looks like a duck, quacks like a duck….IT'S A DUCK!

  10. Henry46 says:

    You’re right on the mark.

  11. delmar Jackson says:

    How many Government created jobs are actually going to AMERICANS!!

    why is USA importing Chinese to build our bridges? http://www.youtube.com/watch?v=83pNM3Oy1As

    Secret Video-Immigration Lawyers teach companies how to steal jobs from USA workers http://www.youtube.com/watch?v=TEwJvmJj2uo

    They Took Our Jobs – Immigration Stories You Are Not Supposed to Hear H-1B H-2B Visas http://www.youtube.com/watch?v=YItkuxv7dhU

  12. All of these Trillions without any thing in return stinks of paying the JIZYA tax to islam. Islam is building "Golden office towers for the bright young arab men to control the world from" (Forbes Mag.)

  13. One saying comes to my mind: "Liar, liar, your pants are on fire" or is it "your tongue is on fire" ? Either way, the tongue could be tamed better by the truth.

  14. Ole barry is by far the Worst Liar in chief ever to disgrace the White House!

  15. Ole barry is great at shoveling Manure, he has been doing that for Years!!

  16. Penelope says:

    1. TruNews with Rick Wiles.
    2. The PowerHour with Joyce Riley.

  17. Mutanteone says:

    the funds were not to make jobs but to funnel more into the reelection funds of democrats just look at who got the funds and their backgrounds as major supporters and or bundles makers for Obama's election, why else were the taxpayers second on the list of those to be paid back and the supporters given massive funds first?

  18. Patriot says:

    Tea Party politics and GOP/Republican congressmen keep the American public from working. You want to embarass the man who handed your arse to you in 2008. Grow up! People want to work. You want to play games. The voting public are not stupid. We see past your politics.