FOR IMMEDIATE RELEASE
January 8, 2009
Brian Kennedy (202) 346-8826
Chris Tucker (202) 346-8825
Obama “Green Jobs” Stimulus Would Put America in the Red
Sets the stage for unprecedented government spending, while ignoring billions of dollars in revenue, royalties that domestic energy exploration can deliver
Washington, DC – Institute for Energy Research president Thomas J. Pyle released the following statement today in response to the president-elect’s speech detailing his plan to spend nearly $1 trillion on a stimulus package that would add 600,000 government employees while doing nothing to provide for America’s energy future:
“The more we hear from President-elect Obama on his $1 trillion government expansion plan, the less there is to like. The road to economic recovery will be paved with private sector investment, not government-sponsored asphalt. We shouldn’t have to spend a trillion taxpayer dollars to underwrite a job recovery program that can be delivered free-of-charge – just by tapping a portion of our abundant energy resources here at home.
“The truth is, we can both create new jobs and provide for our energy future without breaking the bank. By allowing the private sector to evaluate and explore America’s abundant energy resources, we can generate quality jobs, new revenue for the federal government, and a steady stream of domestic energy that would sharply reduce our dependence on sources of energy from foreign, unstable national regimes. It’s not often that one policy stroke can achieve so many important national objectives, but developing our own domestic energy resources is that rarest of exceptions.”
NOTE: Today, President-elect Obama spoke in the starkest detail yet about his plan to create “green jobs” and stimulate our economy. By some estimates, his plan will cost nearly $1 trillion, while doing little to provide meaningful change to prepare us for our energy future. Included in Obama’s plan are 600,000 new government jobs.
Additional IER analysis on the folly of Obama’s “green jobs” plan:
The Institute for Energy Research (IER) is a not-for-profit public foundation that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets. Founded in 1989, IER is funded entirely by tax deductible contributions from individuals, foundations and corporations. No financial support is sought or accepted from government (taxpayers).