Aug 24, 2011 7:41 PM GMT
It wasn’t enough to preside over the first-ever downgrade of America’s credit rating. Now the Obama administration is downgrading America’s energy supply as well. “We’ll invest $15 billion a year over the next decade in renewable energy, creating five million new green jobs that pay well, can’t be outsourced and help end our dependence on foreign oil,” candidate Barack Obama promised in the fall of 2008. But why stop there? Why not claim that you can heal the planet - whatever that means - and control the ocean levels too? Oh yeah, he did.
Let’s start at the beginning. America’s energy policy should center around the obvious: supplying Americans with affordable and reliable energy. File that under D for “duh.” Instead, it has been hijacked by those with ulterior motives ranging from slaying the mythical man-made-global-warming monster to scoring political points against “Big Oil” to creating phony jobs programs. So, how well have President Obama’s “green jobs” initiatives fared?
The president recently toured Johnson Controls Inc., a Michigan company that received $300 million from “Obama’s stash” to create - drumroll, please - a whopping 150 jobs. Do the math: That’s $2 million per green job. And this is the company the White House chooses to showcase? Evergreen Solar, a Massachusetts company, also received stimulus money, but the White House that is “the most open and transparent in history” won’t say how much, only that Evergreen is “hoping to hire 90 to 100 people.” Instead, it declared bankruptcy and shipped 800 jobs overseas. Well, so much for green jobs.
Should we be surprised? During the campaign, Mr. Obama held up Spain’s green initiatives as a blueprint for America. We now know that the Spaniards lost 2.2 actual jobs for each “green job” they created. Some blueprint.
Consider ethanol. The government takes billions of dollars from people with actual jobs to prop up the ethanol industry. The trifecta of ethanol’s corporate welfare includes a 45-cents- to 55-cents-per-gallon subsidy, a mandate that forces supposedly free Americans to buy the industry’s product and an anti-competitive tariff on ethanol imports to prevent consumers from purchasing it at a lower price.
The unintended but easily predictable consequence of burning our food supply in our gas tanks is that grocery prices have skyrocketed. When the limited supply of farmland is diverted to ethanol, the demand for the remaining land goes up, so all food prices are affected. Simple economics. Food shortages are being felt around the world. When Mexico runs short on corn tortillas, you know there’s a problem.