Awhile ago, Amy posted some alarming statistics about Spain’s push for “green” industries here on Inkwell. Yesterday I had the pleasure of hearing a firsthand account of Spain’s green job experience from Dr. Gabriel Calzada over at a Heritage Foundation event (video is available here). To sum up, Spain’s experience has resulted in:
-high direct costs (not to mention opportunity cost)
-low efficiency
-widespread corruption
-an unsustainable model (if the massive subsidies stopped, the whole structure would collapse)
That doesn’t sound too hot, does it? But it hasn’t stopped President Obama from pointing to Spain as a success story that the U.S. should emulate.
