More false hope – The Green Economy Withers
Even after fudging numbers and ignoring the huge subsidies, a liberal think tank reports that growth in the alternative-energy sector lags the rest of the economy. – IBD Editorials
IBD Editorials
EXCERPTS:
Green jobs were supposed to be our salvation, both for the earth and for the economy, according to the Obama administration. White House policy based on this flawed premise led to offshore and onshore drilling bans and the locking-up of energy-rich lands while huge alternative energy subsidies (aka “investments”) found their way into the stimulus and other legislation.
As happens when government tries to pick winners and losers, the government lost — no, we all lost. As has happened in countries such as Spain, this misallocation of resources has succeeded only in stalling our economy as unemployment and debt grow.
Discounted is the role of government mandates and subsidies, without which the alternative energy sector would wither and die. A good many of these “green jobs” exist in the public sector of federal, state and local governments. And they come at huge expense.
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