Billions spent in Obama climate plan may be virtually useless, study suggests

FOXNews.com reports:

As President Obama last month launched a sweeping new national program to combat “climate change,” including tens of billions of dollars in likely new subsidies for solar and wind power and bio-energy, a separate, groundbreaking study by the National Research Council has warned that those kinds of subsidies are virtually useless at quelling greenhouse gases.

The study, which looks at the subsidies and other incentives embedded in U.S. federal tax law after the past several years of climate change initiatives, concludes that they have done little or nothing so far to cut U.S. contributions to global carbon emissions, and are unlikely to do much more before 2035, the project’s research horizon.

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6 thoughts on “Billions spent in Obama climate plan may be virtually useless, study suggests”

  1. How many times has our host said this? The Powerliners? The Milloynistas in general? Lord Monckton? Dr. Spencer? Dr. Pielke? And for how long have we been saying it? (Marc Morano and Professor Reynolds and Mr. Watts and…)

  2. Yes, but from an economic point of view, wealth is destroyed. Which is probably also the goal of Obama and the Enablers.

  3. Dear Leader doesn’t spend or transfer money, he invests money. Not his money, mind you. He doesn’t provide a prospectus with potential ROI and the usual warning disclaimer. Trust him, he will invest tax money wisely. It doesn’t matter if the investment is tax money down a rat hole, Dear Leader has to reward his supporters.

  4. Everyone’s, Biggles. When a society uses steel, glass, plastic and labor to build something freaking stupid, the steel, glass, plastic and labor have been wasted. That cuts into everyone’s wealth.
    Some of that is always going on. In the private sector, it’s either an individual using individual wealth to meet a choice or, in business, it gets corrected by competition. In the public sector it becomes — well, ethanol, wind and solar.

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