As if the Obama administration isn’t wasting enough taxpayer money on “green jobs” here at home, now they’re spending millions in Africa.
The U.S. government is spending $20 million to “help clean energy projects in Africa get started,” such as wind farms and solar panels, Secretary of State Hillary Clinton announced at the recent Rio +20 Conference in Brazil, a step the government watchdog Judicial Watch criticized as wasteful given the administration’s track record in trying to pick green energy winners.
“The U.S.-Africa Clean Energy Finance Initiative will help clean energy projects in Africa get started,” said Clinton in her June 22 speech. “This is an innovative partnership between three United States Government entities – the State Department, OPIC, and the U.S. Trade and Development Agency. We want to drive private sector investment into the energy sector.”
“We plan to use an initial $20 million grant fund to leverage much larger investment flows from OPIC,” she said. “That will open the door then for hundreds of millions of dollars of OPIC financing, plus hundreds of millions of more dollars from the private sector for projects that otherwise would never get off the drawing board.”
OPIC is the Overseas Private Investment Corporation and functions as the federal government’s development finance institution. As it states on its Web site, “OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.” (Read More)
The deficit is over a trillion dollars, and the national debt is somewhere around $16 trillion, yet they throw money around like it’s created out of thin air. Good grief.
Wouldn’t this be considered outsourcing?