Creating Jobs--In China! by John Hinderacker at 4:16 PM
The Obama administration is setting a standard of incompetence not likely to be rivaled any time soon. In the "stimulus" bill, nearly $2 billion was allocated to support wind power, thereby creating "green jobs" and contributing to energy independence. Investors Business Daily describes what happened instead:
According to the Investigative Reporting Workshop at American University, nearly $2 billion in money from the American Recovery and Investment Act has been spent on wind power. The goal was to further energy independence while creating American jobs. It has done neither.
Of the money spent, according to the report, nearly 80% has gone to foreign manufacturers of wind turbines. ...
Of the 1,807 turbines erected on 28 wind farms receiving grants, foreign-owned manufacturers built 1,219, according to the workshop report. The installation of these turbines may have created as many as 6,838 manufacturing jobs overseas. ...
The irony is we leave vast reserves of job-creating domestic oil, coal and natural gas locked up as we sacrifice our economy to the Gaia, the goddess of climate change, something China has wisely refused to do.
If the Obama administration were actually trying to damage our economy, it is not clear that it could do a better job.
http://www.powerlineblog.com/archives/2010/02/025584.php
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