Here’s more about the hype that green jobs will revive America’s economy.
Electric cars depend on special batteries, and the federal stimulus bill created $2.4-billion in grants to for making those batteries. $300-million went to one company, Johnson Controls.
The White House says that resulted in creating 150 jobs at Johnson Controls. That cost taxpayers $300-million, meaning each job cost taxpayers $2-million.
But despite subsidies, electric car batteries hold too little charge for too much cost. That’s why the much-promoted Chevy Volt only sold 125 cars in July—even after government bought many of them. Most people obviously don’t think they’re worth the $40-thousand price for a vehicle that has to stay close to an electric outlet.
When green jobs cost taxpayers $2-million apiece, it’s time to pull the plug on those subsidies.
From The Heritage Foundation, I’m Ernest Istook.