the (new) american worker

Wind Power for the U.S., Revenue for Elsewhere
February 9, 2010, 10:19 pm
Filed under: Wind | Tags: , , ,

NYT’s Green Inc. reported today that German industrial heavyweight Siemens AG is moving aggressively into the North American wind market. Despite the light demand that currently exists for wind power in the U.S., Siemens seems eager to position itself for a potential upswing.

From the report:

“The company expects the global wind energy market to be worth nearly $300 billion in 15 years, compared to a little over $40 billion today. Much of that growth, the company is betting, will be in North America, the company estimated.”

Siemens AG is making an aggressive play for the U.S. wind power market.

Unfortunately, this doesn’t necessarily translate into new American jobs, as the report notes. It cites an American University/ABC News report that broke the news last October that “more than 80 percent of the first $1 billion in grants  [stimulus funds] to wind energy companies went to foreign firms.”

I looked through the report – thanks to Green Inc. for linking me to it – and it is pretty damning, i.e., some good journalism! It includes a quote from Senator Chuck Schumer, D-NY, that sums up my opinion on this quite well.

“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…It is fine that the Chinese make them. But why don’t we use the stimulus money to start building up an industry to build them here, that was the very point of the stimulus,” Schumer told ABC.