for every green energy job created:
2.2 on average will be lost, or about nine jobs lost for every four created, to which we have to add those jobs that non-subsidized investments with the same resources would have created.
In addition actually nine out of ten promised green jobs created were not even permanent. To put it in a different way: every green megawatt created:
destroyed 5.28 jobs on average elsewhere in the economy: 8.99 by photovoltaics, 4.27 by wind energy, 5.05 by mini-hydro.
So does Timmy think this is a good thing or a bad thing?
It think that this bit is incontrovertibly bad, though:
the investment of $36 billion so far created only $10 billion worth in real market prize of energy. Thus renewable mandates have caused already severe damage to the Spanish economy with energy costs increasing nearly 55%. For some companies such as Ferrroatlantico energy cost for its production of iron alloys soared from 37% in 1997 to 43 % in 2005.