Last March, President Joe Biden announced a goal of building 30,000 megawatts (MW) of offshore wind generation by 2030. Doing so will “strengthen the domestic supply chain and create good-paying union jobs,” according to the White House. It’s all part of the president’s executive order to “build a new energy economy that will create millions of new jobs.”
Except the executive order won’t accomplish this, not least because it rests on an assumption that endless green energy subsidies will produce boundless economic growth.
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Jonathan A. Lesser, PhD, is the president of Continental Economics, an economic consulting firm, and an adjunct fellow with the Manhattan Institute. Based on a recent MI issue brief.
This piece originally appeared in Daily Caller