For the last decade Spain provided subsidies at tax payer expense for green energy jobs through renewable energy initiatives. Now after reviewing the performance data, the government there, facing a critical debt problem and ordered by the International Monetary Fund to cut its budget, has determined it can no longer afford the subsidies.
A 2009 study in Spain on “The Effects on Employment of Public Aid to Renewable Energy Sources” demonstrated that for every green job created the regular economy lost 2.2 jobs and that the cost of renewable energies are 3.3 times higher than other traditional forms of energy. The author of the study, Dr. Gabriel Calzada Alvarez characterized the subsidies as a gross misallocation of resources by the Spanish government.
In its own analysis The Institute for Energy Research, in Washington, DC, has said that “the United States should expect a worse return from its own subsidies to renewables.”
How ironic is it then that Obama repeatedly and enthusiastically points to Spain as a role model for his renewable energy policies; promising that with Cap & Trade, “millions of additional jobs and entire new industries.” will be created for our country.
Yeah, sure it will, but clearly with an offsetting detrimental effect for the economy due to increased debt and job losses. What Obama proposes with tax dollars is net losses not net gains.
Obama has also used the BP Gulf Oil crisis as political justification for his renewed calls for legislative action on Cap & Trade. Though these are the same people who have yet to demonstrate any competence in rectifying the Gulf Oil spill, Obama nor anyone in his administration or the Congress has yet to explain precisely or convincingly how we cut carbon dioxide emissions by 80% without shutting down virtually all of our economy in the process!
Go Team !!!
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