On at least eight occasions, President Obama has stated we should follow Spain’s example, massively subsidizing wind, solar, and other expensive types of electricity production. But if that’s really the model on which the president is basing U.S. policy, we may be in for a longer, deeper and more severe recession than previously thought.
Because the president emphasized Spain, we thought it was important to take a closer look at the Spanish experience. We commissioned a study on Spain and the results were astounding. What was meant to be a green energy revolution in Spain turned out to be an economic disaster. The video below explains why.
The Obama Administration is trying to implement the same types of programs that have failed in Spain. Secretary of the Interior Ken Salazar today visited Baltimore, Maryland, to announce a new, streamlined process for issuing offshore wind permits. The announcement comes fresh off the heels of a visit to Louisiana, where he discussed, but did nothing to change, the Obama Administration’s stalled permitting process for offshore oil and gas production.
As the video and study show, Spain’s green jobs model doesn’t work. So why is the Obama Administration trying to emulate it?