Monday, July 08, 2013

Signature of President Obama’s green strategy: subsidizing failure all around

Bottomless Subsidies Needed to Keep DOE Electric Truck Project Alive | National Legal and Policy Center
Perhaps giving away electric trucks or heavy dependency on taxpayer subsidies may not be stellar, but how many green jobs were created via the Smith Electric truck demonstration project? Going by the most optimistic measures reported at (it’s unclear if some of the reported jobs are duplicative or not), an estimated 63 hires were made thanks to the $32 million grant. As mentioned earlier, $27.3 million has been reimbursed so far, so the subsidy has created one job for every $433,333 delivered to Smith Electric.

That’s the signature of President Obama’s green strategy, whether there’s a bankruptcy (Solyndra, A123 Systems, etc.) or not: it’s subsidizing failure all around.

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