$20 Mil For African Green Energy Venture

The U.S. economy remains in shambles and a relentless unemployment crisis grips the nation yet the Obama Administration is giving away $20 million for an innovative green energy venture in Africa.

The allocation comes less than two years after the administration dedicated $50 million to replace “inefficient cook stoves” contributing to climate change and deforestation in developing countries. Under that brilliant plan, villages in Africa, Asia and South America got 100 million clean burning stoves in the name of saving the planet.

In both cases—the African green energy and clean burning stove project—the cash is being handled by the famously corrupt United Nations as part of costly plan to conquer global warming. The latest Africa green venture is part of a broader sustainable energy project launched last year. In all, 50 countries have pledged $50 billion to the effort which is supposed to double the share of renewable energy worldwide by 2030.

As always, the biggest contributor to these outrageous, leftist global experiments is Uncle Sam. In this particular case, the goal is a formidable one; to boost clean energy projects in African nations. A mere $20 million will hardly get the job started, but the U.S. believes it will lead to hundreds of millions of dollars from the private sector for projects that otherwise would never get off the drawing board.

At least that’s how Secretary of State Hillary Clinton explained it at a huge U.N. powwow (Rio+20) held in Brazil this month to reduce poverty, advance social equity and ensure environmental protection on an ever more crowded planet. The conference focused on two themes; a green economy in the context of sustainable development poverty eradication and the institutional framework for sustainable development.

Clinton’s generous multi-million-dollar pledge was undoubtedly the highlight of the event or, at least it received the largest amount of media attention. During her speech at the Riocentro Convention Center in Rio de Janeiro Clinton asserted that clean energy will bring Africans new jobs, create new livelihoods, support education, new businesses, healthier and more productive lives. Though Africa is blessed with vast geothermal resources, only one in four households has access to electricity, Clinton said. “That is 600 million men, women, and children living without power that can’t turn on the lights, can’t use a machine in a factory.”

The gap is not attributed to a technological hurdle, Madam Secretary clarified, but rather a fear among investors who often see obstacles and risks that stop them from investing in clean energy in Africa. Here is the key phrase: “So if we can remove some of the risk and cover some of the costs of preparing a project, we believe we can spur significant new private investments in clean energy,” Clinton said. This, of course, means Uncle Sam must whip out his check book.