Obama Uses U.S. Tax Money to Create Jobs in China
Obama’s “Green Jobs” = lots of green (money) for China, Spain, Goldman Sachs, J.P. Morgan Chase
by Bill Levinson
We reported previously that Kirsten Gillibrand (D-NY) wrote a letter to the Wall Street Journal in which she said openly that cap-and-trade legislation would enrich New York firms like Goldman Sachs and J.P. Morgan Chase along with the New York Stock Exchange. All this would happen at the expense of the American people, who would have to pay more for energy and who might lose their jobs when energy-intensive industries moved offshore. A newsletter from the Society of Manufacturing Engineers now reports that U.S. tax money is being used to finance the installation of Chinese-made wind turbines in Texas. This is Barack Obama’s “green economy” at work, and Congress has yet to even pass cap and trade legislation.
- China-U.S. Group Plans to Build Texas Wind Farm
The New York Times (10/29, B6) reports, “A consortium of Chinese and American companies announced a joint venture on Thursday to build a 600-megawatt wind farm in West Texas, using turbines made in China. Construction of the $1.5 billion wind farm will be financed largely by Chinese banks, with the help of loan guarantees and cash grants from the United States government.”
Right, Barry. Why don’t you tell us again how cap and trade is going to create “green” jobs for American workers.
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Cap and Trade doesn’t have to pass, for the negative effects to start. Investors are already discounting energy-intensive industries such as utilities and manufacturing companies, because cap and trade promises to make them less profitable, if not outright put them under. The rust belt will suffer especially, I imagine, though lawyers and such should come out fairly well. No problems for anyone here, I expect.