Friday, February 20, 2009

Taking Shots at the Economic Arguments for Green Energy

Writing in today's Wall Street Journal, the Manhattan Institute's Max Schulz turns both barrels on President Obama's claims that an aggressive commitment to alternative energy will create new jobs and be a boon to the economy.

It a very broad concept piece, Schulz makes arguments familiar to anyone who has ever been to this blog: renewable energy is inherently inefficient, it will require subsidies and drive up costs.

But Schulz makes the valid point that these drawbacks don't make alternative energy "bad." It's not green energy he has a problem with, it's the specious notion that it is an economic catalyst that irks Shulz.

He notes, "There may be legitimate arguments for taking dramatic steps to fight climate change. Boosting the economy isn't one of them."