Hans Bader reviews Obama’s energy plan.
Excerpt: (links removed)
A liberal Congress must share the blame for this fiasco, since the massive $800 billion stimulus package it passed in 2009 funded these boondoggles. As a Solyndra stakeholder exulted, “there’s never been more money shoved out the government’s door in world history.” But as the Washington Post noted, energy programs were “infused with politics at every level” under Obama. His Administration hastily approved subsidies for Solyndra, whose executives are now pleading the 5th Amendment, despite obvious danger signs and warnings about the company’s likely collapse. (Later, federal officials successfully pressured Solyndra to delay its announcement about upcoming layoffs until just after the 2010 election, to avoid embarrassing the Obama Administration).
The Obama Administration also used green-jobs money from the stimulus package to outsource American jobs to countries like China: “Despite all the talk of green jobs, the overwhelming majority of stimulus money spent on wind power has gone to foreign companies, according to a new report by the Investigative Reporting Workshop at the American University’s School of Communication in Washington, D.C.” As the Investigative Reporting Workshop noted, “79 percent” of all green-jobs funding “went to companies based overseas . . .In fact, the largest grant made under the program so far, a $178 million payment on Dec. 29, went to Babcock & Brown, a bankrupt Australian company.” (The stimulus package also funnelled money to left-wing community organizers and liberal lobbying groups.)
What does it mean to you when Obama takes money from consumers and business owners in order to spend, spend, spennd on his campaign fundraisers and other beneficiaries of “green energy”?
Click here to see a graph of gas prices from January 2009.