"It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong." Richard P. Feynman

Friday, September 30, 2011

Green Jobs $16 Million each in the Obanana republic!

  Having learnt nothing from the Solyandra debacle Obama's crew has rushed through a $737 million dollar loan guarantee to Solar Reserve which is constructing a 110 MW Nevada solar power facility which will create 45 permanent jobs - a snip at $16 million a pop. However Obama can be confident that this time everything will be fine as by an amazing co-incidence Nancy Pelosi's brother-in-law is executive director of Pacific Corporate Group , an investment partner in Solar Reserve.
Hot Air has the story:



As Tina wrote yesterday, Americans still favor government subsidies to companies unable to otherwise compete in the green-tech industry.  That may be especially true of Nancy Pelosi and her family, but not exactly for reasons of environmental improvement.  Let’s start with this report from The Hill, via Gateway Pundit andInstapundit, on the latest approved green-tech loan from the Department of Energy:
DOE announced a $737 million loan guarantee to help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.

The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs.

Forty-five permanent jobs? That puts the cost per permanent job at over $16 million, a figure that could employ perhaps a hundred people had the capital remained in the hands of the private sector that produced it.  Whatever else these green-tech loans are, they certainly are not job-creation stimulus.
But that’s not the best part.  As both Gateway Pundit and American Glob discover, one of SolarReserve’s “investment partners” is Pacific Corporate Group, through its Clean Energy and Technology Fund.  And PCG’s executive director is Ron Pelosi — brother of Nancy Pelosi’s husband.  Suddenly, this deal makes a lot more sense than spending $737 million for forty-five jobs.
This surely is just a coincidence … in the same way that the push by the Obama administration to approve a loan to a failing Solyndra backed by one of his big campaign bundlers was just a coincidence.  Recall Reason TV’s excellent videoyesterday on the urban-renewal movement, in which governments seized property ostensibly to improve neighborhoods but parsed out the spoils to the politically connected ?  That’s exactly what’s going on with this program, and with Barack Obama’s demands for more blank checks for stimulus.  

2 comments:

  1. This can only get better as solar technology improves throughout the years. Kudos to the green companies that are providing jobs.

    ReplyDelete
  2. Providing jobs for whom and at what cost?

    Have you considered who really benefits from the sale of solar panels?

    If you thought this through properly you would realize that someone always has to pay.

    For every solar panel produced there is a monetary and environmental cost involved in its production.

    For every solar panel produced someone still has to pay the cost of generating the back up or standby power needed that must be available whenever its required at short notice.

    Do you seriously believe we can close down all of our conventionally powered generating plants if everyone installs solar panels on their homes or if we build wind farms everywhere?

    At the end of the day, they will simply keep raising tariffs or increasing taxes to cover these costs because they will never be able to close down one single power station, or cease building new ones.

    One day we could well see everyone connected to the mains power supply being charged a flat fee for this privilege irrespective of how much power they actually consume because someone has to pay.

    Stop fantasizing and wake up to the brutal reality!

    ReplyDelete