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Obama: Solar Panel $2 Billion Investment Payback in Only 50 Years

The Department of Energy has dumped $2 Billion of taxpayer money into another boondoggle that will not see a return on the investment for over 50 years.

The good news is that this money will create 5,000 new jobs – at only $392,000 PER JOB!

Of course the employees will not see most of this money. It will line the pockets of the Environmentalists who control Obama.

The Daily Caller Reports:

In his weekly address to the nation, President Obama today announced that — in the name of bringing “jobs back to the country” — the Department of Energy has awarded $2 billion dollars to two energy companies.

Abengoa Solar and Abound Solar Manufacturing will use the money to create some of the world’s most advanced and largest solar panels and plants, the president said.

In all, though, the billions are expected to buy just 5,000 jobs, meaning that each position will likely end up costing the federal government upwards of $392,000 per job. Of those 5,000 jobs, the majority are expected to be temporary positions in fields like construction.

Observers — including blogger Ed Morrissey — have pointed out that, even if the employees were taxed heavily and their jobs generated significant tax revenue, the president’s initiative would likely not pay for itself for over fifty years.

During his address to the nation weeks after the explosion at the Deepwater Horizon oil rig, the president made a push for clean energy and discussed its importance in the wake of the disaster.

It is exactly this type of lunacy that will prevent the economy from recovering. Investing in Solar Technology is not a bad thing, but right now, we can’t afford to waste this money on such a long term investment. Obama’s push for unrealistic “free” and renewable energy sources are better spent in projects that will create self sustaining jobs today, not 50 years in the future.

This smacks of yet another payback to the lobbyists who control this president. Moves like this make a double dip recession inevitable.

About Tom White

Tom is a US Navy Veteran, owns an Insurance Agency and is currently an IT Manager for a Virginia Distributor. He has been published in American Thinker, currently writes for the Richmond Examiner as well as Virginia Right! Blog. Tom lives in Hanover County, Va and is involved in politics at every level and is a Recovering Republican who has finally had enough of the War on Conservatives in progress with the Leadership of the GOP on a National Level.

3 Responses to “Obama: Solar Panel $2 Billion Investment Payback in Only 50 Years”

  1. O Bloody Hell says:

    > Investing in Solar Technology is not a bad thing

    Yes, it is. It is sheer lunacy, based on a total failure to know and/or understand Basic Physics that almost anyone is capable of grasping.

    I wrote a summary of why it was wrong over a year ago, for No Oil For Pacifists:

    Solar Power: Flat-Out Wrong For All Time

    Earth-based, On-Land solar power CANNOT be anything other than a specialty power source suitable for remote locations and very atypical scenarios. Not “it needs work” — it would require a violation of the known laws of physics for it to be even vaguely cost effective.

    The fact is, that solar, like wind, contains a lot of energy but the energy DENSITY is far too low to be truly usable, and this is not something that simply “advancing tech” will solve — it would require a completely unexpected and unpredictable breakthrough — an “E=MC-Squared” moment of pure, unadulterated genius — in our basic understanding of the universe to change that.

    See the article for a better explanation of that — it’s not entirely short, but neither is it so technical that one should not be able to follow it if one has even a decent understanding of 9th grade Earth Science, much less high school physics.

    There is only one really likely functioning form of solar power which does not require such a massive breakthrough, and that is Ocean Thermal (“OTEC”), which essentially uses the vast ocean surface as a solar collector. And even there, it does require a substantial development in technology… so of course there’s no real money being put into THAT because that’s not the real purpose of all this crap… the real purpose is to hamper the USA as an economic power by destroying its utility base.

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Tom White Says:

Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

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