To preserve liberty, it is essential that the whole body of the people always possess arms and be taught alike, especially when young, how to use them. — Richard Henry Lee, 1788, Signer of the Declaration of Independence

Green Energy Running Out of Gas

October 11, 2012   ·   By   ·   0 Comments

solarWhile the discussion is still alive to cut Big Bird’s taxpayer subsidy as a first step to tackling America’s budget woes, it’s a mere drop in the bucket compared to another industry taxpayers do not need to be assisting.

Green energy.  The Daily Caller reports on a Congressional Budget Office (CBO) report estimate that $24 billion was spent in 2011 to subsidize fuels and energy technologies, “with $20.5 billion in tax preferences and $3.5 billion in Department of Energy spending programs.”

Furthermore, “78 percent of all tax subsidies and 54 percent of DOE subsidies went to alternative energy projects,” The Daily Caller states.

Where has this spending got us? A CNN Fact Check report asks the question, “Are half of ‘green’ energy firms helped by stimulus out of business?”

In the 2009 stimulus package, $90 billion was authorized for “green” energy.  CNN states, “Part of 2009′s much larger $787 billion stimulus package, this money went toward things like the weatherization of more than 770,000 homes and cleaning 688 square miles of land formerly used for Cold War-era nuclear testing. Many individual companies did benefit directly. The government website that tracks stimulus spending lists 27,226 individual awards under the “Energy/Environment” section, totaling just shy of $34 billion.”

Accounting for all green infrastructures, like high-speed rail, the Brookings Institute claims the total spent thus far on “green” energy and projects is $51 billion.

However, what stands out most about this spending is the $535 million loan given to California-based solar panel company Solyndra that went bankrupt—taking all that money down with it.  Another company, Ener1, also went belly-up after receiving $118 million from taxpayers.  Evergreen Solar Inc. also went bust after reportedly receiving $5.3 million of stimulus cash.

But what matters most to Americans are the jobs that came out of all this spending. HotAir summarizes a Reuters article on the results:

The Obama administration has been reduced now to arguing that its $90 billion expenditure will result in 827,000 “job years” over the course of Obama’s term in office.  For those who are counting, that would be 276,000 jobs lasting three years.  Even in “job years,” that comes to $108,827 per job-year; in jobs, it comes to $326,481.  And the “job-years” construct carries a heavy subtext of a lack of permanence, too.”

Since the green energy trend is falling apart elsewhere in the world, now would be a good time for Gov. Mitt Romney to spread his wings farther than just Big Bird and end taxpayer money going to failing and expensive green energy policies.

While Big Bird makes for a cute political ad for President Obama, the giant yellow bird should be the least of his worries.  Americans are likely more concerned about the $90 billion of their money he’s wasted.


Note: Reader comments are reviewed before publishing, and only salient comments that add to the topic will be published. Profanity is absolutely not allowed and will be summarily deleted. Spam, copied statements and other material not comprised of the reader’s own opinion will also be deleted.



Similar Posts:

Rebekah Rast is the national correspondent of Americans for Limited Government (ALG) News Bureau. Americans for Limited Government is dedicated to putting the principles of limited government into action. They work with local groups across the nation to promote freedom, limited government, and the principles of the U.S. Constitution. Their goal is to harness the power of American citizens and grassroots groups in order to put the people back in charge in states across the country. You can follow her on Twitter at @RebekahRast.
Rebekah Rast
View all articles by Rebekah Rast
Print Friendly
Clip to Evernote

Readers Comments (0)


Sorry, comments are closed on this post.

Featured Articles

Rush Limbaugh

GOP Establishment Ashamed of Its Base

Bob Ellis

Well, we already knew this, but it's still good to hear the truth spoken aloud. It's pretty clear from the way real Republicans get treated by the elitist RINO snobs, both here in South Dakota and nationally, that the fatcats are embarrassed by and ashamed of their Bible-thumping, principle-obsessed, base.

Farm_bill_welfare

Where’s the ‘Farm’ in the ‘Farm Bill’?

Bob Ellis

Why am I, the son of a farmer who married into a ranching family, opposed to the farm bill? Well, in addition to the little matter of complete absence of constitutional authority, there is this reason.

Louisiana

Why two black Louisiana Republicans switched parties

Star Parker

Anyone who doubts that the Republican Party can attract black voters need only look south to Louisiana.During @Large -- a conference in Baton Rouge in May aimed at attracting black conservatives -- a black Democrat in the Louisiana Legislature, Elbert Guillory, announced that he was switching political parties and becoming a Republican. Less than two weeks later, just up the road in Central City, La., a black Democrat city councilman made the same announcement. The mystery is why this is not happening more often.

bargained_for

God Gives Victory When His People Fight!

Bradlee Dean

Let’s take a look at what took place just this last week in America on the behalf of a people that respond to God’s commandments. Instead of magnifying crimes – which only strengthens tyranny – the American people are beginning to magnify the law unto judgment in order to establish righteousness and peace.

Tap_It

Tap It: Doin’ the NSA Slow Jam

Bob Ellis

Doing the slow jam to the NSA's "Tap It." Spreadin' the love...

Archives

Other News

Other Commentary

Featured Blogs

"We don't intend to turn the Republican Party over to the traitors in the battle just ended. We will have no more of those candidates who are pledged to the same goals as our opposition and who seek our support. Turning the party over to the so-called moderates wouldn't make any sense at all." - Ronald Reagan, Nov. 10, 1964