Premier Dalton McGuinty seems to have blind faith in subsidizing expensive green energy projects with Ontarians , cold hard cash.
The cost per kilowatt hour of the electricity McGuinty is trying to replace is less than 4¢.
Wind power costs as much as 20¢ and solar can be as high as 80¢.
Madrid’s Universidad Rey Juan Carlos did a study examining the economic and employment effects of Spain’s aggressive green experiment.
• Since 2000, Spain has spent 571,138 euros ($803,050 Cdn) on each green job, including subsidies of more than one million euros ($1,406,054 Cdn) per job in the wind industry.
• These programs destroyed nearly 110,500 jobs elsewhere in the economy (2.2 jobs destroyed for every green job created).
• Each “green” megawatt installed destroyed 5.28 jobs elsewhere in the economy, on average.
Green projects and green jobs are so inefficient, they cannot make it in the competitive market and must be heavily subsidized.
That wasted money could have gone to pay for more jobs elsewhere.
Moreover, if the Liberals are reelected this October. You can expect even more lavish spending on projects of the green variety. All this economic intervention adds up to Ontario being less competitive in four years not more. In contrast, the Ontario PCs have committed to getting out of the business of subsidizing corporations, as well as abolishing the eco-tax. Here’s hoping the winds of change will blowoutMcGuinty this fall.
