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$40 Million to Create 3 “Green” Jobs

Written by Gary North on June 27, 2012

If a green energy company is given $40 million by the government to create jobs, and a total of three jobs are created, 2008 to the present, what should the government do about this?

The Department of Energy knows: provide another $80 million. Department of Energy officials have made available this money for a New Hampshire company. The company has a Michigan-based project in mind.

The state of Michigan put $20 million into the project in 2008. Now it wants help. The Department of Energy is ready to help. Why not? It also put $20 million into the same project.

The company had promised to create 70 jobs for this $40 million subsidy. What a deal! But it failed to deliver.

There were warning signs. Here was one. The company is required by law to file a report with the Securities and Exchange Commission, the federal bureaucraccy that regulated Bernie Madoff. In its SEC filing, the company admitted that it has “no experience in the markets in which we intend to operate.”

Nevertheless, the DOE signed an $80 million cooperative agreement with the firm in December, 2011. “Biofuels hold great potential, not only for reducing our dependence on foreign oil, but also for creating new jobs and economic opportunities for America’s rural communities,” Valerie Reed, the Acting Biomass Program Manager in Office of Energy Efficiency & Renewable Energy of the DOE said at the time.

The Office of Energy Efficiency & Renewable Energy is an expert in biomass. There is no question about it: this project sounds like a really big pile of biomass.

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9 thoughts on “$40 Million to Create 3 “Green” Jobs

  1. Patriot1776 says:

    Another fine example of why government should not be in the business of business. It is time to take the check book away from the alphabet departments because they have demonstrated on a massive scale their inability to handle our money. There is no understanding of the concept of budgeting from un-regulated government bureaucracies. They have bankrupted this nation and continue to spend.

  2. trailblazer1 says:

    and the administration goes along with this but dumps on the pipeline project? Makes no sense to me

  3. There were actually FOUR new jobs created. Ebenezer Soros had to hire a new clerk to help him count all the money he made out of this deal. So now Bob Cratchitt has someone to talk to on the job.

  4. Are they hiring? For that kind of money I'm willing to move. Of course, as a condition of employment I would expect the government to move me, buy me a new house, give my wife and I each a new car, hire a full-time nanny for the children, send somebody over do to our weekly shopping, provide us 12 weeks of vacation a year and reimburse me for all airline travel longer than 50 feet. I realize I would have to pledge my support for Obama in his re-election campaign, but… wait… no… ummm… damn, there is no way in hell I could ever, in my wildest imagination, support this man who is destroying America. So, how about giving me some love for sacrificing the house and other goodies… sorry…. some things are just not for sale.

  5. Winghunter says:

    Gore and the Democrats' Green Graft Machine http://www.americanthinker.com/2012/04/gore_and_t
    "With the Solyndra, First Solar, Sunpower, Fisker, and related Obama administration Department of Energy scandals, President Obama is following a trail blazed by Vice President Al Gore in the mid-1990s. Similar scandals failed (or failing) green technology companies intertwined with Democratic Party fundraising — will continue to arise until we understand their genesis…."

    This is all about stuffing their own pockets!

  6. Winghunter says:

    The difference is the XL pipeline would actually help us in numerous ways.

    "Americans need to suck it up and pay more for energy" – Barack Hussein Obama

  7. Forty Million to make three green jobs. They should lock this guy up and throw away the key, Thats where most Illinois politicians end up anyway.

  8. Most of the career CLOWNS in Congress are attorney's and know absolutely NOTHING about Business/Budgets/Hiring hence should not be allowed to vote on subjects about which they are totally ignorant. Another reason for TERM LIMITS in Congress, and stiffer laws for corrupt politicians (i.e., inside trading, kick backs, perks, etc.). In short: our Congress is BROKEN ! And needs fixing FAST !

  9. Navy Vet says:

    Boy. Can you imagine how many jobs they could create by spending a billion? Anyone who has been in the business world would tell you that this was stupid–stupid–stupid. But then again, Obama doessn't have to,worry about spending "someone else's" money. This is just another part of the master plan to BRING AMERICA DOWN.