Emulate Spain’s Green Economy? No Thanks, Mr. President
Big news [PDF] from España:
“Spain admits that the green economy sold to Obama is a ruin.”
The story goes on to note that President Obama has cited Spain as an exemplar of an ecologically sound energy economy no fewer than eight times. As I have repeatedly noted in this space — with the able assistance of Spanish economist Gabriel Calzada – for every green job created by the Iberian nation’s massive investment in renewable energy, that transfer of wealth to uneconomic activities cost the economy 2.2 jobs in opportunity cost, as well as direct job losses thanks to the increased cost of electricity (like sending steel jobs to Kentucky, as I’m told Rand Paul noted in one victory speech or another). And as I noted yesterday, even the president of Spain’s National Commission of Energy, socialist Maite Costa, calls Spain’s energy regime “insostenible.“
So can we assume President Obama will now quit tilting at windmills and leading us down this “green jobs” dead end?
No one on either side of the climate-change debate has any illusions that Kerry-Lieberman (or EPA regulation of CO2 emissions in the U.S., for that matter) will do anything to lower global temperatures. The economic case for the embrace of renewables is now shattered. So what other motive could the president have for pushing ahead with this agenda? Only one: the Power Grab.