The American Spectator

home
ADVERTISEMENT
Print Email
Text Size

The Spectacle Blog

Ach du lieber!

It seems that the road to Euro-social democracy has a few more potholes than our leaders anticipated, so long as the information age remains (largely) unrelgulated. Today's example comes as we recall the president's invitation to "look what's happening in countries like Spain (then, after that embarrassment, Denmark) and Germany" for his "green jobs" vision for economic enhancement and climate salvation.

Readers of this space were surely anticipating the German Wirtschaftswunder, having already read in detail the disastrous truths revealed about Spain and Denmark. To be of service, the independent, long-established, uber-credentialed and establishment economic think tank Rheinisch-Westfälisches Institut für Wirtschaftsforschung ("RWI")-Essen has produced a report (it has no specifically dedicated link, so go to English and you'll see it first item).

Here's what it says, in short form:

* If the objective is to create jobs, this is an extremely expensive way to do it. At $240,000 per "green job" created (ignoring for these purposes the jobs destroyed elsewhere in the economy), this manages to make the roundly derided "stimulus" look relatively effective. The administration there claims to have created thirty thousand jobs at a cost of hundreds of billions. Do the math. This is more than twice as futile/destructive.

* Besides, on net, as in other countries cited as examples by the president, there is no net job creation and, adhering to consensus economics, simply negative consequences spread out across all sectors of the economy.

* If the objective is to reduce CO2 emissions, it didn't. It failed. Miserably.

* If the objective is energy security, it failed. It has increased dependence on imported gas.

* If the objective is to produce electricity in a competitive or cost-effective fashion, in addition to having to pay for the capital twice ("green" electricity requires you to have the other stuff, the stuff that works, built and running anyway), the appx. 2.2 cents per kilowatt hour this added to Germany's already astronomical electricity prices would translate here into an average increase of nearly 20%, significantly higher in some states (see here for regional impacts).

Meanwhile, just as happened in Spain and Denmark after these truths were publicized, the German government has already publicly vowed to scale back the madness. But it is amazing to think that these are the arguments for this agenda.

It is even more incredible that the White House so insistently boasted of what upon a moment's scrutiny clearly are not successes, which is easily checked-out, as the models to follow. Maybe the "Chicago Way" that we're now seeing, with the enemies list effort against Fox News, the signature Axelrod "Astroturf" campaign being run in apparent coordination with his former "Astroturf" client the rent-seeking utility Exelon, and as exhibited when the Spanish academics saw the Department and NREL being sicced on them, assumes that all will know better than to check such whoppers out. Hate to see something happen.

As the wags at the Institute for Energy Research have noted, Mr. President, that's "strike three" (or "Uno, To, Drei", in order of Euro-flop).

Leave a comment

Leave a Comment

N.B. We encourage readers to share and discuss their thoughtful and relevant comments about this Spectator article. Comments are routinely monitored and will be deleted if profane, bigoted, or grossly impolite. Please be respectful. (And don't feed the trolls!) Thank you.

More Blog Posts by Chris Horner

http://spectator.org/blog/2009/10/19/ach-du-lieber

ADVERTISEMENT

The Spectacle Blog

Illusionist

Yogi Love | 10:06AM

At Least He Apologized

Ross Kaminsky | 8:34AM

Gallup: Veterans Prefer Romney

W. James Antle, III | 5.28.12

Markos Moulitsas is Scum

Quin Hillyer | 5.28.12

Weekend Political Wrap-Up, Memorial Day Edition

W. James Antle, III | 5.27.12

An Honor Flight Story

TAS Staff | 5.26.12

WaPost Criticizes Romney's Lack of Rhythm

Aaron Goldstein | 5.25.12

SPONSORED LINKS

Special Feature

Better that we become a nation of choosers rather than beggars. Our symposium on choice from the May, 2012 issue:

A Time for Choosing

James Piereson

The Road from Serfdom

Stephen Moore and Peter Ferrara

FLASHBACK TO: 1984

Clip of the Day

Most Popular Articles

Meet the Flukes!

F. H. Buckley | 5.25.12

In Search of Muhammad

Aymenn Jawad Al-Tamimi | 5.25.12

The Wisconsin Turning Point

Peter Ferrara | 5.23.12

Age and Kyl

Quin Hillyer | 5.25.12

Follow Me

Jay D. Homnick | 5.25.12

Terror by Any Other Name

Robert Stacy McCain | 5.29.12

How About the Record of DOE Capital?

William Tucker | 5.25.12

ADVERTISEMENT