May 28, 2012 2:42 AM GMT
And that'll be pretty much the same case as any new taxes on the wealthy - "short of Obama goal". Of course a big part of that problem is that the "investments" made were treated more as a slush fund for Obama supporters than it was in really trying to build a sustainable industry.
President Obama has made much of his commitment to green energy as he launches his re-election bid, but the nascent industry has produced far fewer jobs than the president promised, despite massive, repeated infusions of taxpayer dollars.
Since taking office more than three years ago, Obama has routinely promoted wind, solar and other green energy efforts, touring factories -- often the beneficiaries of federal grants -- and touting the manufacturers as cutting-edge job producers who are leading America's transition to energy independence. He had promised in 2008 to help those companies create millions of jobs.
"We can invest $15 billion a year in renewable sources of energy ... to create 5 million new jobs, new energy jobs, all across [the] country, jobs that pay well, jobs that can't be outsourced," Obama, the candidate, told an Ohio crowd.
But the president has fallen far short of his own mark.
The wind industry has actually lost about 10,000 jobs since 2009, even though it doubled its domestic production, the American Wind Energy Association reports. And Republicans were quick to point out that as Obama blocks the construction of the Keystone XL pipeline from Canada to Texas, the oil and gas industry has added 75,000 jobs since the start of his term.
Obama spent $90 billion of his stimulus package on green energy projects, including weatherization of buildings and development of electric vehicles. Yet, by the end of last year, just 16,100 people landed new jobs in the so-called green industry, Labor Department statistics show, far short of the 200,000 jobs the White House projected it would help create each year.
The lack of progress has some Democrats bemoaning the current state of green energy, particularly when compared with the vision laid out by Obama.