As we know, President Obama has spent much time praising Spain as being a reference for the establishment of government aid to renewable energy. A role model, Spain?
This study, from the Universidad Rey Juan Carlos in Spain shows that the reality is quite different. After examining Spain’s experience with an aggressive wind-power program, the researchers concluded, among other things, the cost of creating a green job in Spain was 571,000 Euros each (so roughly $800,000), and for each green job created, two private jobs were lost.
The study also makes predictions in case the president pursues his green-job policy.
Therefore, while it is not possible to directly translate Spain’s experience with exactitude to claim that the U.S. could lose at least 6.6 million to 11 million jobs, as a direct consequence were it to actually create 3 to 5 million “green jobs” as promised (in addition to the jobs lost due to the opportunity cost of private capital employed in renewable energy), the study clearly reveals a tendency that means the U.S. should expect such an outcome.
And the US continues to be the only country in the world that prevents itself from developing its own oil and natural gas resources.
