American Elephants

The Departments of Treasury and Energy announced on September 2, that they were making $502 million in “grants” available to renewable energy industry firms in lieu of earned tax credits. It seems that “tax credits” aren’t worth anything because the industry has no profits.

The $502 million of stimulus money will, according to federal officials, provide 2,000 jobs. That is $251,000 per job. This will allow consumers to pay higher prices for electricity. We can call it “Renewable Welfare.”