October 31, 2009

About those green jobs

From the Wall Street Journal:
Chinese-Made Turbines to Fill U.S. Wind Farm
A Chinese wind-turbine company, with financing help from Beijing, has struck a deal to be the exclusive supplier to one of the largest wind-farm developments in the U.S., a sign of how Chinese firms are aggressively capitalizing on America's clean-energy push.

The 36,000-acre development in West Texas would receive $1.5 billion in financing through Export-Import Bank of China. Shenyang Power Group, a five-month-old alliance, would supply the project with 240 of its 2.5-megawatt wind turbines, among the biggest made in the world.
A bit more:
Mr. McGarr said the project should create 2,800 jobs -- of which 15% would be in the U.S.
Meanwhile, China is planning on future investments in the U.S. renewable industry as a way of creating a market for Chinese wind and solar equipment manufacturers.
So not only are the jobs going overseas, the foreign money is coming into the USA and when profits are made, these profits leave the USA economy. Hope and Change -- yeah... right... Posted by DaveH at October 31, 2009 4:16 PM
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