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Washington Examiner Senior Political Columnist Timothy Carney on the U.S. government’s green energy subsidies going to foreign companies.
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Hello everybody I'm Gerri Willis -- taxpayer waste from the Obama administration you're not surprised -- A new report says billions of dollars from green energy in the 2009.
Stimulus package.
What do foreign companies with more on -- Timothy Carney senior political columnist for the Washington examiner.
To the it's great to see you again as always I -- you look at the dollars and cents here.
Sixteen million dollars for this green energy program one out of four dollars went to foreign companies does that make any sense CM.
Well this is what.
Happens when the government tries to get in the situation picking winners and losers it doesn't even do that very well they're trying to reward these American companies.
Police say -- here's a subsidy for installing wind mills are installing solar panels.
Guess what there's a good chances Windmills or solar panels are going to be made overseas.
And it's good chance that a lot of these subsidies are going to go to foreign companies.
And this has been true in many government programs not just Obama stimulus but Obama.
Do the same -- Really ramp stop.
The degree of the government handing out money to green and it.
France Spain Japan Germany Italy you name -- our money -- all over the planet consider the pockets of Americans and here's the thing that's really frustrating.
Permanent and temporary jobs created just 8000.
The average cost of those jobs one point two million dollars if you do the math.
None of this make sense our taxpayer dollars being wasted yet again.
And that fact is that the people making money off of this.
Often are just the people the lobbyists who lineup for these.
Lineup that -- the subsidies and make sure that.
Congress create salmon -- their clients get them.
And then sometimes -- investors in these green energy companies who make lots of money get the subsidies pocket it.
And then bail the idea of long term job creation that's not necessary for the lobbyists and some of these early investors make their.
-- now Ed let him look.
Here's what the administration -- when you attack them on what we're talking about right here.
They say look these USB subsidiaries.
Of foreign companies doing business in the US.
They hire American citizens what's wrong with that and you say -- Well the profits and up overseas -- and also at the same time.
A lot of times American companies will get these subsidies and news overseas labor.
And and the White House -- well it's an American company even if the wind turbines are being manufactured in Spain.
Still it's an American company were getting -- they have it both ways if an American company making overseas they take credit.
If it's foreign company where some of the jobs mostly the temporary installation jobs are here in the US they also take credit.
Well I I just want to point out to be focused their thinking of sitting back at -- thinking.
Ever about cylinder I know while all about this isn't totally different program okay it's a different program -- the -- -- program this is additional monies that are being miss use.
Now an additional -- point on green energy that you brought up in your column.
-- the venture capitalists are starting to take a stepped back on green energy why is that.
Well a lot of.
Venture capital started flowing into green energy around 2007.
That was when the energy bill remembers a democratic congress and President Bush and they passed an energy bill with lots of green energy subsidies.
And then of course Obama came in any and the stimulus and all sorts of regulations and state support on all sorts of mandates requiring people to invest in green energy.
And a lot of this -- a deal was the subsidies would get these this technology up and running and then it would be able to compete.
Well the subsidies have been there some of them are disappearing some of them expired some of them are in the stimulus.
And of the subsidies disappearance most of these technologies almost none of them can compete with things like oil and gas and coal for price so what does that Kelly -- It tells you that tells you that the -- that this subsidy money was wasted and that if we -- these things compete in the free market that.
Wind and solar and some of these other green technologies are not worthwhile that we are just the taxpayers are wasting money -- I was happy to have green energy developed in this country all of all kinds please go to -- private sector -- keep my taxpayer dollars out of that that's what I effect.
Yes and I think I -- a bipartisan approach so this could be in their bills in congress who say.
Are there are subsidies out there for oil and coal and natural gas.
Let's remove those and let's stop these green energy subsidies and it might be.
It might be that on the local regional level something like ethanol might make sense in Iowa.
That we might make sense if you have something going on and in northern Texas and we don't have to be this big national plan.
But let them all compete on an even even playing -- get rid of the oil and coal and natural gas subsidies that are there.
And that I think that should be a bipartisan compromise and we get to keep all of that money Tennessee thanks for coming on tonight great to have -- -- have a great weekend.
You too.
