The Ontario Liberals are striving mightily to portray their disastrous green energy program as a rousing success. Do not believe them. It is an abject failure that inflated electricity costs, alienated rural communities and never lived up to its billing as the engine not just of more jobs but an entirely new manufacturing sector.Contnue reading at the Record
This is the context in which to understand last week's announcement that the province had downsized a multi-billion dollar deal it signed with Samsung Group in 2010 to produce electricity from wind and solar projects.
Instead of giving the South Korean corporate giant $9.7 billion for 2,500 megawatts of electricity, Ontario will spend $6 billion for 1,369 megawatts. We pay less. We also get less. Samsung is cutting its investment in new green energy plants and components in Ontario from the $7 billion it originally pledged to $5 billion.
Although the government once boasted that Samsung would create 16,000 new manufacturing jobs, the number of new workers being talked about last week was just 900. That's a flimsy foundation for an economic renaissance.
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