........"In 2008, Barack Obama pledged to create 5 million jobs over 10 years by directing taxpayer dollars toward renewable energy projects. But here’s what has actually happened according to recently released data by the Department of Energy’s Loans Programs Office, and summarized in the chart above by the Institute for Energy Research:".............
More than $26 billion has been spent since 2009 on DOE Section 1703 projects (taxpayer support for clean energy technologies that are typically unable to obtain conventional private financing) and Section 1705 loan guarantees (for certain renewable energy systems and leading edge biofuels). Unfortunately for taxpayers, fewer than 2,300 permanent jobs have been created for all of those billions of dollars, at a cost to taxpayers of more than $11.45 million per job. Solar projects generated an especially poor return for taxpayer funding – almost $1 billion of taxpayer dollars were spent on just two solar companies – Abound and Solyndra – that in the end, ended up creating no permanent jobs.
11.45 MILLION per job created. Hopefully in the future, the government in all it's wisdom, can widdle that down to 10 million per job.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
FredHayek wrote: ...but they are trying to do good...
Suckers. One of the problems when you have a press corps that won't call out the current administration.
You are absolutely right Fred, it's all about intentions and spending money that makes us feel good... it has nothing to do with accountability or results. Even if these kind of investments don't equate to what we know as profit, the taxpayers need to know that their tax dollars are being utilized productively and not wasted through trial and error investments.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
Who cares about giving away $26 billion to green energy for few jobs created.
We need to worry much more about the $4 billion of legitimate tax deductions/credits given to big oil each year which we will call "subsidies", even though other companies including green also get similar tax deductions/credits proportional to their earnings.
Government is much better than the market at determining winners and losers. Let us trust government to make the right choice.
"True cost of Britain's wind farm industry revealed
Every job in Britain’s wind farm industry is effectively subsidised to the extent of £100,000 per year, The Telegraph can disclose.
A new analysis of government and industry figures shows that wind turbine owners received £1.2billion in the form of a consumer subsidy, paid by a supplement on electricity bills last year. They employed 12,000 people, to produce an effective £100,000 subsidy on each job.
The disclosure is potentially embarrassing for the wind industry, which claims it is an economically dynamic sector that creates jobs. It was described by critics as proof the sector was not economically viable, with one calling it evidence of “soft jobs” that depended on the taxpayer.
The subsidy was disclosed in a new analysis of official figures, which showed that: "............
