On Thursday, Investor's Business Daily posted an article explaining how President Obama's quest for green energy is creating jobs--in China!
The article states:
"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."
This is not really what we were told to expect. The article also points out that wind power is not particularly efficient. To be specific, the article states--after decades of subsidies, wind provides only 1% of our electricity compared with 49% for coal, 22% for natural gas, 19% for nuclear power and 7% for hydroelectric. Wind turbines generally operate at only 20% efficiency vs. 85% for coal, gas and nuclear plants.
We have the natural resources to become energy independent. Using our own natural resouces would create jobs here as well as strengthen our economy. We need leadership with the foresight to realize that and act on it!
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