Thursday, February 11, 2010

84% of stimulus flowed offshore

OurFuture | It turns out a Texas windmill farm developer's request last month for nearly half a billion in stimulus funds to create 2,000 jobs in China doesn't rank first on the audacity scale.

Shockingly for American taxpayers, and sadly for the staggering 10.2 percent of Americans who are unemployed, it doesn't even rank second.

That's because Washington already has doled out hundreds of millions in stimulus funds to foreign renewable energy firms. Of the $1.05 billion in clean energy grants awarded by D.C., $849 million -- 84 percent -- went to foreign wind companies, according to an analysis by Russ Choma of the Investigative Reporting Workshop. He wrote:
"The cash grants were given for the installation of 1,763 megawatts of capacity - 1,566 installed by foreign companies. Using the Renewable Energy Policy Project's own numbers, as many as 4,500 manufacturing jobs may have been created overseas."