Tuesday, March 16, 2010

The Big Wind-Power Cover-Up--Investors Business Daily

Spain exposed the boondoggle of wind power in 2009, discrediting an idea touted by the Obama administration. In response, U.S. officials banded with trade lobbyists to hide the facts.
It was a cold day at the Energy Department when researchers at King Juan Carlos University in Spain released a study showing that every "green job" created by the wind industry killed off 4.27 other jobs elsewhere in the Spanish economy.

Research director Gabriel Calzada Alvarez didn't object to wind power itself, but found that when a government artificially props up this industry with subsidies, higher electrical costs (31%), tax hikes (5%) and government debt follow. Fact is, these subsidies have the same "Cuisinart" effect on jobs as wind-generating propeller blades have on birds. Every green job costs $800,000 to create and 90% of them are temporary, he found.

Alvarez made no bones about the lessons of Spain for the Obama administration, which has big plans for "green jobs." His report warned of "considerable employment consequences" from "self-inflicted economic wounds." It forecast that the U.S. could lose 6.6 million jobs if it followed Spain, and it "should certainly expect its results to follow such a tendency."

Investors Business Daily

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