by Jon Sanders
Director of the Center for Food, Power, and Life, Research Editor | John Locke Foundation
I have, on occasion, noted how Big Green Energy, favored by Pres. Obama, has this self-defeating habit of being thoroughly and unmitigatingly unproductive. Things are bad when you’re the Green Emperor stuck having to put a brave face on, e.g., a $54 million, five-employee boondoggle. Under Obama, forced Green Energy spending has essentially amounted to “paying people not to produce” — which would suffer from the coming loss of the production tax credit:
Wind manufacturer Vestas said on Aug. 13 that it plans to lay off 20 percent of the 450 workers at a tower factory in Pueblo, Colo. The company blames a weak market caused by the looming expiration of the production tax credit (PTC). … On Aug. 9, President Barack Obama visited the Pueblo facility, pushing for an extension of the PTC. Vestas CEO Ditlev Engel told The Denver Post earlier this year that the company may be forced to lay off 1,600 employees in Colorado if the PTC isn’t extended.