Here's a shocker.... Senate Democrats are continuing down the path of job killing and costly energy reforms based on the tried and failed European cap-and-trade system.
Just this week Carlo Stagnaro and Luciano Lavecchia lamented about the cost of “green” jobs on the Italian workforce in a piece for Wall Street Journal Europe:
“The ‘green economy’ is supposed to be a win-win situation, as massive subsidies for renewable energy sources and other ‘clean’ technologies would help both the environment and the economic recovery. The facts on the ground tell a different story, though. One green job costs on average as much 4.8 jobs in the entire economy, or 6.9 jobs in the industrial sector. The same amount of subsidies that have already been given or committed could produce nearly five times as many jobs if allowed to be spent by the private sector elsewhere in the economy. Our results are largely consistent with the evidence provided by Professor Gabriel Calzada of the Universidad Rey Juan Carlos, who found that in Spain, one green job costs on average as much as 2.2 ‘dirty’ jobs. The reason why the Italian figure is more than twice as high is mostly because Italy, unlike Spain, is technology importer, not a producer. Our figures only seem to confirm what is intuitive: That the green economy may be very profitable for those who receive the subsidies, but that they are detrimental to the overall economy.”
The American economy can’t handle more job losses, and as more people step into the unemployment line, we definitely can’t handle the “necessary increase” in energy costs that President Obama promised a coal worker on the campaign trail. These kinds of trendy initiatives show the short-sightedness of this administration and congressional leadership. The carbon trade plan enacted in Europe has proven disastrous for its economy, and there’s no reason to believe that if enacted here in the United States, we wouldn’t see similar results.
Cap-and-trade is touted as “environmentally friendly” and as a “green job creator”, but by any other name it’s simply another tax on energy, a tax on American families and a tax on job-creating businesses. We already have enough of those. We need to support an “all of the above” energy solution to explore every possible answer to our Nation’s energy crisis.