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In the business world, when you combine bad management, faulty science and fanatical ideology, it's a recipe for disaster. Strangely enough, when the federal government does it, the result is the same.
I'm referring to the national green energy policy that is actually costing us jobs, hurting our economy and increasing our dependence on foreign oil -- all at a time when we can least afford it. It may even be having an indirect effect on rising gas prices.
Sadly, you didn't have to be Nostradamus to know that force-feeding an initiative this big against free market forces would end badly. In fact, the renewable energy bubble was evident years ago. Back in 2008, CNET ran an article entitled "The alternative energy bubble," where today's situation was indeed foretold:
"What do you get when you mix Al Gore, global warming, whacky environmentalists, skyrocketing oil prices, lots of venture funding, and irrational exuberance? An alternative-energy bubble. "What, you don't believe there's an alternative-energy bubble? Then you're just not paying attention. All the signs are there. As bubbles go, I think this one's going to be big. How big? You got me. But I think that global warming, alternative energy -- and solar energy in particular -- like Al Gore, are all overblown."
Yes, I wrote that, and we all know that I'm no medieval seer with an omniscient ability to predict the future. I just pay attention and understand fundamental business concepts like supply and demand and risk management. I also have built-in radar for anything that sounds remotely like fanatical ideology.
Now, that article and others like it were written before our economy melted down. So clearly, the administration saw the renewable energy push as a sort of stimulus. In hindsight, however, it's now evident that not only didn't it work, it's actually had the opposite effect. Here are some examples of how our green energy policy has negatively impacted the jobs picture and our economy.