When Will We Awake From Obama’s Bad Green Dream?

Posted on January 20, 2012 by Curt ( 2 comments already! )

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The Obama administration promised a future with a clean, green economy. Instead, it’s left us with failed government “investments” in projects driven by politics rather than prudence.

While campaigning for the presidency in 2008, Barack Obama swore he’d create millions of green jobs.

“We’ll invest $15 billion a year over the next decade in renewable energy, creating 5 million new green jobs that pay well, can’t be outsourced and help end our dependence on foreign oil,” he said that fall.

Three years into the Obama presidency, the country has yet to see a wave of green-collar jobs. What it has seen is government pouring taxpayers’ money into pet projects that wasted the cash. A particularly sore example is Solyndra, which not only went bankrupt after taking in more than $500 million in taxpayers’ dollars, but also became the target of an FBI probe.

According to one analysis, at least 12 clean energy companies “are having trouble after collectively being approved for more than $6.5 billion in federal assistance.”

“Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES’ subsidiary Eastern Energy and Solyndra,” CBS News’ Sharyl Attkisson reported last week.

Also in trouble, says CBS, are:

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Nan G

12 years ago

Just like Rep. Issa is investigating the Fast & Furious (or Gunrunner) crimes, so, too, someone ought to be investigating every DOE ”green” loan for crony capitalism and bad risks.
It is pretty obvious that Obama used DOE taxpayer cash as a slush fund to reward many of his bundlers and big supporters.

Nan G

12 years ago

We have to shake ourselves awake.
Not alarm clock is going to go off.

Obama’s very 1st re-election ad

dishonestly suggests he’s been engineering an alternative energy economic renaissance in America.
As hard-hatted workers are shown assembling solar panels, the ad says, “America’s clean energy industry? 2.7 million jobs and expanding rapidly.”

It’s saying [implying] Obama created — or “saved” — 2.7 million new clean energy jobs, right?
Uh-uh.
Turns out that the Brookings Institution report that the ad cites as its source on the 2.7 million was referring to already-existing green jobs.

You’d never know from the Obama commercial that what Brookings actually said was:
“Overall, today’s clean economy establishments added half a million jobs between 2003 and 2010, expanding at an annual rate of 3.4 %” — a half-million over eight years being a tiny gain.
And that “this performance lagged the growth in the national economy, which grew by 4.2% annually over the period.”

You wouldn’t know, Brookings said, that “many longer-standing companies in the clean economy — especially those involved in housing- and building-related segments — laid off large numbers of workers during the real estate crash of 2007 and 2008, while sectors unrelated to the clean economy (mainly health care) created many more new jobs nationally.”

And Brookings’ assessment that the green economy is “expanding rapidly”?
Its report’s conclusion actually warns “against excessive hopes for large-scale, near-term job-creation from the sector” because “the U.S. clean economy remains small where it is fast-growing and relatively slow-growing on balance … their status as major employers remains a few years off.”

MORE HERE:
http://news.investors.com/Article/598518/201201201917/obama-energy-claims-celebrate-recession.htm?src=IBDDAE