DEBATE REACTION: GREEN JOBS

Diana Furchtgott-Roth:

Mitt Romney said that the amount of money that President Obama has wasted on green jobs programs could have hired two million teachers.  Green jobs programs are truly a waste—of the 33 energy loan guarantees or grants made under the Energy Department’s programs, 26, or almost 80 percent, have filed for bankruptcy or have missed production goals.

Plus, as I show in my new book, Regulating to Disaster: How Green Jobs Policies Damage America’s Economy, green energy is more expensive and raises Americans’ utility bills. Generating a megawatt hour of electricity from natural gas in 2015 will cost between $49 and $79. A megawatt hour from onshore wind will cost between $75 and $138, and from solar photovoltaic will cost between $242 and $455.