September 14 2011
Enough with the Green Energy Boondoggle
Carrie L. Lukas
Most Americans could probably sense that there's something inherently inappropriate about the President's push to support "green" energy companies.
The whole concept of what constitutes a "green" energy source is less black-and-white than it sounds at first (remember, ethanol was once a darling of environmentalists until we discovered how the push for biofuels is doing tremendous economic damage). And when the Administration goes into support certain "green" initiatives, it's clearly picking winners and losers from the competitive market.
That's why the brewing scandal about the White House pressuring the Office of Management and Budget to expedite a $500 million loan to Solyndra isn't exactly surprising, is if it is disturbing. It's almost seems expected that Solyndra's CEO was a huge Obama donor. Yet the price tag is rather eyebrow raising-even by Washington standards of graft and political payoffs, a half billion dollars is a pretty big deal.
We see now that the Administration is apparently unabashed and preparing to offer another cool billion in support to another solar company (time will tell what political connections that company has...). The goal being that this taxpayer gift will help create 900 American jobs. Yes that's the fingers-crossed, we hope hope hope outcome. And that comes out to $1.3 million in taxpayer support per job.
Shouldn't this be the final epitaph on the stimulus?
This is what the Administration thinks is going to turn the economy around - robbing the private sector of $1.3 million to try to create one measly government-approved job. Yes, I'm sure that the wizards in the executive branch are banking that this loans will be paid back. We saw how that worked out with Solyndra.
This is an outrage. This is fundamentally unfair to all the other energy producing companies that are trying to compete with these government-backed favored few. It's fundamentally unfair to the millions of Americans who are out of work and aren't on the fast track to getting one of these government-sponsored jobs. It's time for this "green energy" boondoggle--or bet yet, how about the whole government spending stimulus boondoggle--to end.