DOE Mulling Plan That Would Save or Create Green Jobs at a Cost of $23 Million Each
Sean Higgins over at Investor's Business Daily is reporting that the U.S. Department of Energy may be on the verge of shoving $6.5 billion more in federal subsidies to support nine green energy projects:
The number of full-time, permanent jobs they would create? According to the DOE's own figures, a grand total of 283. That is nearly $23 million per job.
It's also a drop in the bucket toward the five million green jobs President Obama promised as a candidate in 2008.
It's not clear how many of the loans will get approved. The DOE refused comment prior to the Thursday announcements.
In the last week, the DOE has approved three loans totaling $624 million and creating 110 permanent jobs. But two other big loan projects totaling nearly $2 billion reportedly fell through. …
So far, the DOE has issued over $10 billion in loan guarantees for 21 projects — including Solyndra — and claims to have created about 2,300 permanent jobs.
Higgins adds:
That the funds are loans, not grants, is often cited by green jobs fans. But the Solyndra failure has underscored the risks.
Well, yes.
Go here to read the article. Check out Reason's reporting on the green jobs delusion here, here, and here.
