Oxford Sentinal-Review By Diane Katz and Nevana Pencheva
The Government of Ontario recently signed a $7-billion no-bid contract with two Korean companies to supply wind and solar power to the province. Officials claim the backroom deal will boost “green” industry and job creation. But it’s hard to fathom how the additional employment can possibly be beneficial when each new manufacturing job will cost taxpayers a whopping $303,472. Nor do dramatic increases in electricity rates constitute much of a bargain.
Having failed on his pledge to shut all coalfired plants in the province by 2007, Ontario Premier Dalton McGuinty evidently has sought a grand green gesture that would appease the global-warming alarmists. Executives of Samsung C&T Corp., in concert with the Korean Electric Power Corporation, were understandably eager to cooperate. Continue reading