This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

3 Obama Green Programs Mired in the Red

(Obama green energy program story, updated for federal tariff on Chinese imports, California renewable energy standard, LDK Solar loan package in China)

NEW YORK ( TheStreet) -- The recession may be over, but the cadre of elite economists who signed the recession's death certificate last week did not say whether the Obama administration's economic Recovery Act of 2009 was responsible for ending the worst economic slump since World War II.

Vice president Joe Biden, on the other hand, recently released a list of the 100 Recovery Act projects that in his words, are "changing America." The problem is that green energy in America isn't changing fast enough, no matter what the Biden list would have you believe.

Making Vice President Biden's list of the 100 economic stimulus projects deserving of special notice were dozens related to green energy, from electric cars and electric car battery makers -- a clear focus on Biden's list -- to smart grid, wind and solar investments.

The Obama administration is obviously using the Biden 100 Top Recovery Act projects list as it tries to build support for its much criticized Stimulus 2.0 spending package -- and, more generally, fend off attacks that it hasn't been an effective steward of the U.S. economy while, as Republican rhetoric contends, the government spends, spends and spends.

No one can doubt the Obama administration has shown more of a focus on energy efficiency than the previous administration, yet Stimulus 2.0 was lacking in broad focus on energy efficiency and alternative energy compared with the 2009 Recovery Act.


There's also action at both the state and federal level that could help push green energy agendas ahead. Last week, California's Air Resources Board voted to mandate that the state receives 33% of its power from renewable energy sources by 2020.


Congress is also making a bid to help the U.S. compete against China in green energy and all industries, calling for a vote this week on a bill that would slap tariffs on Chinese imports. Chinese solar companies, in particular, are increasing their focus on the U.S. market, but there cost advantage remains so large that a tariff might not make much of a difference.


As for the 100 Recovery Act projects that Biden has singled out, what follows are three details that detract at least somewhat from the vice president's public relations campaign on behalf of the green energy component of the Recovery Act.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs