Foreign Companies Cop 84 Percent of Stimulus Green Economy Funds

[Omaha Steve]

http://blog.aflcio.org/2009/11/09/foreign-companies-cop-84-percent-of-stimulus-green-economy-funds/

by James Parks, Nov 9, 2009



Instead of creating thousands of new jobs for out-of-work Americans, the push for alternative energy is lining the pockets of foreign companies. A new study shows that of the $1.05 billion of stimulus funds spent on clean energy grants since Sept. 1, an astronomical 84 percent—or $849 million—has gone to foreign wind companies, with one firm collecting more than $500 million alone.

Russ Choma writes that the Investigative Reporting Workshop at American University found the Spanish utility company Iberdrola S.A. has collected $545 million in grants through its U.S. subsidiary. And the money doesn’t even have to go to create jobs. The group reports there are few restrictions on how the grants can be used. In fact, more than $800 million has been given to firms for wind farms that were already producing electricity before they received the grants.

This revelation comes as the public is becoming aware of and outraged by China seeking $450 million in economic recovery funds to build a planned $1.5 billion wind farm in Texas. The farm will create 30 permanent jobs in the United States and 2,000 jobs in China.

United Steelworkers (USW) President Leo Gerard puts it bluntly:

We’ve got a message for Washington: Hell no! We’re not giving tax dollars to China. What’s wrong with these businesses and our government? It is the $787 billion American Recovery and Reinvestment Act of 2009. It’s not the Chinese Recovery and Reinvestment Act.

You can take action now. Click here to tell the U.S. Energy Secretary Steven Chu not to send our tax dollars overseas and that U.S. stimulus money must create American green jobs.

FULL story at link.

[w4rma]

1. Free traitors are killing us. (nt)

[bob4460]

2. And everone wonders why we have not seen jobs!!N/T

[Earth Bound Misfit]

3. Kick n Rec

Torches n pitchforks, people.