Obama Pledges More Taxpayer Dollars for Green Energy

By:  Brian Koenig
07/18/2012
       
Obama Pledges More Taxpayer Dollars for Green Energy

Speaking at a campaign event in Cincinnati, Ohio on Monday, President Obama insisted that he does not make the same mistake twice, and that he would remain steadfast in his efforts to subsidize the “green” energy industry.

Speaking at a July 16 campaign event in Cincinnati, Ohio, President Obama insisted that he does not make the same mistake twice, and that he would remain steadfast in his efforts to subsidize the “green” energy industry. “I don’t know about you, but in my life what I’ve found, you know, sometimes I do boneheaded things, I make mistakes,” Obama conceded. “I find, when I try something that doesn’t work, then I don’t try it again. I don’t — you don’t go back to doing something that didn’t work.”

Soon after, the president promised that he would continue to “invest” in alternative-energy technology if he is reelected in November. “We’re going to invest in American energy,” he vowed. “Yes, we want to continue to expand our production of oil and natural gas, but I also want to make sure we are the leaders in solar and biodiesel — the energy of the future that can help reduce dependence on foreign oil.”

The Department of Energy (DOE) under the Obama administration doled out roughly $9 billion for solar and wind projects from 2009 to 2011, resulting in the conception of a whopping 910 direct jobs — equaling about $9.8 million per job — according to a report by the DOE’s National Renewable Energy Laboratory.

Overall, an analysis by the Heritage Foundation reveals that a startling 19 companies that were granted federal loans or grants by the Obama administration have either filed for bankruptcy or are currently in the process of doing so:

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