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$200 million green-tech subsidy results in -100 jobs
Hot Air ^ | 10/4/11 | Ed Morrissey

Posted on 10/04/2011 10:32:34 AM PDT by Nachum

What happens when job-stimulus funds get spent on a company that reduces its workforce? It looks like Barack Obama and Energy Secretary Stephen Chu made another “bad bet” in 2009, sinking $200 million into the non-profit National Renewable Energy Laboratory in Golden, Colorado. NREL isn’t going under, but it’s cutting back staff after getting a big taxpayer subsidy from Porkulus:

President Barack Obama’s “green jobs” initiatives suffered another major blow late Monday, as the nonprofit National Renewable Energy Lab in Golden, Colorado, announced a plan to lay off roughly 10 percent of its staff through a voluntary buy-out plan.

According to the Denver Post, the lab plans to eliminate between 100 and 150 of its 1,350 jobs. The Obama administration supported the NREL in 2009 with roughly $200 million in stimulus grants. Energy Secretary Stephen Chu visited Golden in May 2009 to promote the NREL as a beneficiary of those funds.

Are you getting the impression that a visit from Obama or Chu might be the kiss of death for green-tech companies? Obama shows up to promote Solyndra and the company sinks into bankruptcy, taking over a half-billion taxpayer dollars with it. Chu personally delivers the jobs-stimulus check to NREL, which then starts trimming jobs.

(Excerpt) Read more at hotair.com ...


TOPICS: News/Current Events
KEYWORDS: greentech; jobs; results; subsidy
Your dollars are shovel ready
1 posted on 10/04/2011 10:32:41 AM PDT by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


2 posted on 10/04/2011 10:34:27 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

If dollars are all it took to create a marketable green energy source, America ought to be looking like the Emerald Isles.

There’s no way to make a dead cat jump, no matter how hard you hurl it down.


3 posted on 10/04/2011 10:35:13 AM PDT by HiTech RedNeck (There's gonna be a Redneck Revolution! (See my freep page) [rednecks come in many colors])
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To: Nachum

ping


4 posted on 10/04/2011 10:43:36 AM PDT by Upstate NY Guy
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To: Nachum

ping


5 posted on 10/04/2011 10:44:12 AM PDT by Upstate NY Guy
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To: Nachum

No problem. The Obama policies are still working just fine. Whatever jobs remain at that company can be counted as “saved” jobs.


6 posted on 10/04/2011 10:47:44 AM PDT by Will88
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To: Nachum

thats a high return for the money considering some stimulas created -3 million jobs


7 posted on 10/04/2011 10:48:32 AM PDT by dalebert
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To: Nachum

It won’t be long before we’ll all be shoveling dollars into wheelbarrows to take to the local store to buy a loaf of bread.


8 posted on 10/04/2011 10:59:06 AM PDT by SoldierDad (Proud dad of an Army Soldier currently deployed in the Valley of Death, Afghanistan)
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To: Nachum

And how much did these companies donate back?


9 posted on 10/04/2011 11:00:42 AM PDT by GOPJ (Bibi would go toe to toe with the devil if it was the only way to save his beloved Israel.)
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To: GOPJ

“And how much did these companies donate back?”

not QUITE the right question.....

“How much of those funds are in offshore banks...in accounts “anonymously” ‘Bammy’s and in anonymously in accounts to whom the tazxpayers funds were disbursed”.


10 posted on 10/04/2011 11:04:49 AM PDT by mo
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11 posted on 10/04/2011 11:32:41 AM PDT by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list)
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To: SoldierDad

That’s right. And when you come out of the store finding the dollars sitting on the sidewalk and the wheelbarrow stolen because it’s worth more than the dollars.


12 posted on 10/04/2011 1:21:18 PM PDT by To-Whose-Benefit? (It is Error alone which needs the support of Government. The Truth can stand by itself.)
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