Green Energy’s Too Expensive

July 14, 2013 by  
Filed under Green Energy News

On
Wednesday, July 10, the House passed H.R. 2609—which Bloomberg News called a “$30.4 Billion
Energy-Water Spending Measure.” The 2014 Energy-Water Development
appropriations bill will cut spending on renewables and other green energy
programs in half and was passed mostly along party
lines—with 4 Republicans voting against and 7 Democrats for it.

Democrats
offered amendments to the bill aimed at restoring
funding

to renewable energy programs, which failed. Republicans’ amendments focused on
cuts: Rep. Tim Walberg of Michigan sponsored an amendment that would eliminate
spending for a national media campaign promoting alternative energy, and Rep.
John Fleming, M.D. of Louisiana sponsored an amendment to stop a $3.25 billion
green energy loan program—both were approved.

While
many of the different taxpayer funded green energy programs introduced in the
2009 stimulus bill —which have produced more than 50
bankrupt
,
or near bankrupt, projects—have now expired, the Fleming
amendment

draws attention to a pot of money that is, currently, largely unspent. 
Fleming describes this remaining
boondoggle: “The Obama 2009 stimulus bill cost taxpayers about $830 billion,
and much of it was wasted on growing government and administration giveaways,
like a $3.25 billion loan program that put taxpayers on the hook for failed
green energy projects. A company could take a government loan and walk away
from a project without paying taxpayers back, even if the company remained in
business. In a free market economy, companies may turn to banks and investors
to borrow money, but the government should not force taxpayers to be lenders,
even as it gives borrowers a pass on paying back their loans.”

While
Republicans realize the embarrassing failure of the stimulus bill’s green
energy programs, Democrats want to keep spending—often in the face of
opposition from their usual supporters. One of the most controversial
commercial green energy projects,Cape Wind,
provides a case in point.

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