Obama’s ‘Green’ Jobs Initiative Fails to Deliver

The Washington Times story “‘Green’ jobs no longer golden in stimulus,” reports on what we’ve understood from the start – green jobs are a myth!

“After months of hype about the potential for green energy to stimulate job growth and lead the economy out of a recession, the results turned out to be disappointing, if not dismal. About $92 billion – more than 11 percent – of Mr. Obama’s original $814 billion of stimulus funds were targeted for renewable energy projects when the measure was pushed through Congress in early 2009.”

The story quotes business professor Peter Morici, who said “much of the green stimulus funding was ‘squandered.’”

Morici added, “Subsidies for windmills and solar panels created lots of jobs in China,” but few at home.

We need to keep this in mind as the Senate considers the possibility of passing cap-and-trade through the lame duck session of Congress and pressing forward with a renewable energy standard.