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Of course, that's because wind, solar and other inefficient forms of
power generation will never be "profitable" without the hand of the
federal government extracting money from the pockets of society's
productive members for redistribution to those sporting the trendy
"green" label - like BP, which in recent years rebranded itself as
"Beyond Petroleum." Mr. Obama's speech to the nation swept aside the
obvious objection that such subsidies might seem irresponsible in the
face of a $13.1 trillion national debt. "We can't afford not to," was
his response.
Mr. Obama's friends in Europe beg to differ.
The subsidy for solar panels is so generous that anyone installing one
could collect a check for 436 euros ($540) for each megawatt of power
returned to the electrical grid. Several solar farms sprang up as a
result, with some even caught cheating by using generators to make
"solar" energy at night.
Researchers at Universidad Rey Juan Carlos in Spain calculated that
these policies created green jobs at a cost of 500,000 to 1 million
euros ($619,425 to $1,238,850) each. Based on their experience, the
U.S. would lose about nine jobs for every four created in the renewable
sector because of the tax burden imposed on the rest of the economy. [full Monty]
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