Wednesday, March 3, 2010

American Recovery & Reinvestemnt Act Funds Creating Jobs and Stimulating Economy.....In China

Citing a report from the Investigative Reporting Workshop, a group of Democrat lawmakers called upon the Obama Administration to suspend funding of an ARRA project directed at construction for renewable energy projects.
more than 80 percent of the first $1 billion in grants to wind energy companies went to foreign firms. Since then, the administration has stopped making announcements of new grants to wind, solar and geothermal companies, but has handed out another $1 billion, bringing the total given out to $2.1 billion and the total that went to companies based overseas to more than 79 percent.

In fact, the largest grant made under the program so far, a $178 million payment on Dec. 29, went to Babcock & Brown, a bankrupt Australian company that built a Texas wind farm using turbines made by a Japanese company

One of the recipients of the stimulus funds is a joint venture between private firm US Renewable Energy Group, Cielo Wind Power of Austin, TX and China's Shen Yang Power Group to build a $1.5 billion wind turbine project in Texas. Other 'green energy' companies have outsourced the manufacturing of wind turbines and solar panels to China. The Investigative Reporting Workshop estimates that as much as 79% of the $2 billion in stimulus funds already distributed slated for renewable energy projects have gone to foreign-based companies.

Senators Chuck Schumer (D-NY), and three other lawmakers wrote Treasury Secretary Timothy Geithner to request a moratorium remain in place until legislation could be drafted requiring the funds only go to projects that create and preserve American jobs. Energy Department Secretary Steven Chu said that the funds could be allocated and made "available to all qualifying entities"such as the Shen Yang Power Group's wind farm
“In all due respect I remind the secretary (of Energy) there is a four-letter word associated with the stimulus -- J-O-B-S,” Sen. Charles Schumer, D-N.Y., told ABC News who interviewed him for a report done in coordination with the Workshop’s ongoing investigation. “Very few jobs here, lots of jobs in China. That is not what I intended or any other legislator who voted for the stimulus intended.”

Truth be told, I'd be alot more impressed with Schumer and other Dem's indignation if they weren't just figuring this out a year and $2 billion later. Or better yet, if they never voted for the Stimulus/American Recovery and Reinvestment Act in the first place.


  1. Well at least a year later they can manage to read the freaking bill.

  2. Schumer will never be that smart, even with someone pinch thinking for him....