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March 10, 2010

NYT Gets It Kinda Right On Green Economy Nightmare

Posted by The MaryHunter at March 10, 2010 6:28 AM

In an almost-departure from pummelling us with Obamaspeak, The Old Gray Hag actually reports on the catastrophe that is Spain's green energy economy -- the very same Spain that President Obama and other eco-kooks have praised as a shining example of a success story for its solar and wind-power industries. From the NY Times story:

[A]s low-quality, poorly designed solar plants sprang up on Spain's plateaus, Spanish officials came to realize that they would have to subsidize many of them indefinitely, and that the industry they had created might never produce efficient green energy on its own.

In September the government abruptly changed course, cutting payments and capping solar construction. Puertollano's brief boom turned bust. Factories and stores shut, thousands of workers lost jobs, foreign companies and banks abandoned contracts that had already been negotiated.

Most of the story is fluff trying to pass as journalism, wishfully blowing air into the corpse that is the green energy economy. But the truth has a way of making it through even an NYT story if it's unavoidable enough. Now, if they would only report the rest of the story on how Spain has become a prime example of the destructiveness that ensues from forcing a "green economy" onto a struggling economy: 2.2 regular jobs lost for every green job created.