Today, Bloomberg Businessweek contributor Ira Boudway takes a look at the direct-subsidy program at the Department of Energy, funded with $21 billion in Obama stimulus cash thus far, and the jobs created by the program. After noting the paucity of independent data on this question, Boudway simply indicts the Obama administration with DoE’s own figures:
In 2008 candidate promised to create 5 million green jobs. He laid out a plan to invest $150 billion over 10 years that would advance a clean-energy economy built around biofuels, hybrid cars, low-emission coal plants, and renewable sources such as solar and wind. How many has he actually created? ….
The American Recovery and Reinvestment Act of 2009 set aside $90 billion in renewable energy grants and loans for a grab bag of thousands of projects—wind farms, solar installations, natural gas fueling stations, biofuel research, and a $5 billion weatherization project for low-income homes. Digging into the public records of the $21 billion spent so far through 19 U.S. Department of Energy programs reveals 3,960 projects that employ 28,854 people.That’s not 5 million.
Obama spent $727K per job, and fell short of his jobs goal by 4.97 million jobs.