President Obama has admitted that his plan to convert American electrical power into clean, renewable energy sources is modeled on a program that has been in place in Spain for years.

Now a Spanish newspaper has uncovered the truth that the authorities in Spain has been withholding from the people; that their attempts to "go green" have met with titanic failure.

A translation of the story is supplied by Chris Horner writing in Pajamas Media:

The president of the United States, Barack Obama, does not appear to have chosen well in basing his "green economy" on Spain's. After the government of Jose Luis Rodriguez Zapatero demonized a study by various experts on the economic downsides of renewable energies, it just leaked an internal document from the Spanish cabinet which is even more negative.

Among the findings, paraphrased from the right sidebar:

* Green energy is 120 percent more expensive, simply due to the extra costs of solar and wind, and the evolution of the market is not going to bring down those costs any time soon.

* The clean energy sector is slated to receive 126 billion euros in the next 25 years, but no one knows where the money is going to come from . In 2009, the subsidies were worth 5 billion euros.

* Photovoltaic solar power accounts for 53 percent of the extra cost of renewables, whereas it produces only 11 percent of Spain's renewable energy.

* Each "green job" comes at the expense of 2.2 traditional jobs.

Every single advantage that the president has touted green sources of energy giving us has proved to be false. 

Interesting that no mainstream media outlet except the Washington Examiner is covering this story - a story that proves that the tens of billions of dollars in the stim bill earmarked for green energy projects are not only a colossal waste of money, but will actually hurt the economy.