The Myth of 5 Million Green Jobs

Tony Blankley [emphasis mine]:

[T]he Obama administration. . . assert[s] that by subsidizing alternative energy sources, it will create 5 million green jobs. To that end, Congress passed in the stimulus bill $110 billion to subsidize and otherwise support such green efforts. And in conceptual support of that argument, the administration has referred to "what's happening in countries like Spain, Germany and Japan, where they're making real investments in renewable energy."

Well, in March, one of Spain's leading universities, Universidad Rey Juan Carlos, published an authoritative study "of the effects on employment of public aid to renewable energy sources." The report pointed out: "This study is important for several reasons. First is that the Spanish experience is considered a leading example to be followed by many policy advocates and politicians. This study marks the very first time a critical analysis of the actual performance and impact has been made. Most important, it demonstrates that the Spanish/EU-style 'green jobs' agenda now being promoted in the U.S. in fact destroys jobs, detailing this in terms of jobs destroyed per job created."

The central finding of the study is that -- treating the data optimistically -- for every renewable-energy job that the government finances, "Spain's experience reveals with high confidence, by two different methods, that the U.S. should expect a loss of at least 2.2 jobs on average, or about 9 jobs lost for every 4 created."

So, instead of creating 5 million jobs, the best evidence is that Obama's scheme will destroy 11 million jobs, for a net loss of 6 million jobs--and that's the optimistic estimate. Remember this the next time you hear Obama accusing the Bush administration of acting withough foresight and ignoring the science.