Despite the pleas coming from both the left and right calling for further government intervention in the energy industry, green and alternative energy sources are still unable to compete with coal and natural gas. Alternative energy sources have proven to be unsustainable, costly and detrimental to the economy, especially for working-class families.
When it comes to most issues, liberals and conservatives seem to be at odds with one another, but for some strange reason, they both seem to be on the same side of the aisle when it comes to our country’s energy efficiency.
Both Sen. John McCain and President Barack Obama have been heard countless times calling for additional investment in wind and solar energy.
But why should these politicians force taxpayers to invest more in an industry that has already cost us billions and produces very little?
The Department of Energy spent $38.6 billion in grants to promote job growth via the green energy industry. The nearly $40 billion created only 3,545 new permanent jobs, although the DOE predicted 65,000 new permanent jobs.
This means the DOE spent roughly $11 million dollars per job created. Heavy subsidization of industry clearly does not work.
This obviously feeble industry, despite being propped up through subsidies, is still very unattractive to profit hungry capitalists. The common misconception that oil tycoons are just greedy and do not care about the environment is a gross example of benightednes. In reality, any industrialist in a market economy would be more than happy to find, own and produce a cost-efficient alternative to coal and oil. Any energy industry entity that discovers this alternate resource would become immensely wealthy while reducing our oil dependency and increasing our standard of living.
But wind, solar and biomass plants have proven to not be the answer, despite their governmental free ride.
Range Fuels in Soperton, Ga., a plant dedicated to biomass technology, recently closed its doors despite its $25 million in subsidies.
Renewable Portfolio Standards, mandated in 24 different states, create quotas regarding how much production must be dedicated toward alternative energy at production plants — alternatives such as biomass once researched at Range Fuels.
RPS increases the cost of energy production resulting in higher utility costs. Combining that with skyrocketing gas prices, it becomes obvious that the green movement is detrimental to lower income households.
It is time for the state to get out of the energy industry and let market forces and consumers decide how we will power our homes and cars.
The push for green energy has proven to be costly, inefficient and harmful to a financially healthy environment.
Thomas Ryan is a political science sophomore at Santa Fe College.
