AfP ad: Obama spent billions funding green jobs overseas

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Among other steps, AfP is calling on President Obama to stop playing politics with American energy and approve construction of the Keystone XL pipeline.

The ad makes multiple references to a September 9, 2010, story in the Washington Times, which establishes that the funds created more jobs abroad than at home.

Only about $20 billion of the allotted funds have been spent - the slowest disbursement rate for any category of stimulus spending. Private analysts are skeptical of White House estimates that the green funding created 190,700 jobs.

The Department of Energy estimated that 82,000 jobs have been created and has acknowledged that as much as 80 percent of some green programs, including $2.3 billion of manufacturing tax credits, went to foreign firms that employed workers primarily in countries including China, South Korea and Spain, rather than in the United States.

Peter Morici, a business professor at the University of Maryland, said much of the green stimulus funding was "squandered."

"Large grants to build green buildings don't generate many new jobs, except for a few architects," he said. "Subsidies for windmills and solar panels created lots of jobs in China," but few at home....

Mr. Sherraden said the problem with job leakage overseas promised only to get worse, because governments in Europe and Japan - which in years past spent lavishly on renewable energy - now are drastically cutting back their green subsidies as they try to pare enormous budget deficits.

With the United States left as the only major developed country still flooding the market with government funding, competition from overseas suppliers promised to be more fierce than ever, Mr. Sherraden said.

"It is impossible to guarantee that clean-energy stimulus is not leaked abroad," he said. "We have to recognize that we are funding job-creation programs in Germany, Spain, Japan and China."

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This page contains a single entry by Michael Bates published on April 28, 2012 1:46 AM.

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