This Is A Good Investment?

In response to this article in the Chronicle, I sent the following letter:

re:  "Obama lauds energy progress"

According to the Associated Press report (please see "Obama lauds energy progress, May 27), President Obama is touting a $100 million solar energy plant at Nellis Air Force Base in Nevada, claiming the program "created" 200 new jobs and will save the Air Force $1 million per year.  Only in government would a program providing a 1% return on investment be held up as a model "investment" — how many people would voluntarily invest $1000 of their own money to get a return of $10 per year?  Also, how many more new jobs might have been "created" had that $100 million been invested by private sector investors seeking a higher return?  Would a nuclear, coal, or natural gas plant have provided electricity more or less efficiently?  I suspect those questions will go unanswered.

Sincerely,
Dave Smith
Houston, TX

 

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