http://factcheck.org...nergy-whoppers/
Mitt Romney made numerous bogus claims in the Oct. 3
debate about the $90 billion in grants, guaranteed loans and tax breaks
for energy projects in the stimulus bill:
Romney falsely claimed “about half” of the
clean-energy companies that received U.S.-backed loans “have gone out of
business.” But 26 companies received loan guarantees under a loan
program cited by Romney, and three of those have filed for bankruptcy.
The three firms were approved for about 6 percent of the loan
guarantees.
Romney incorrectly claimed the “$90 billion in breaks to the green energy world” was provided “in one year.” It was two.
He stated at one point that Obama put $90 billion “into solar and wind.”
But only $21 billion went for renewable energy projects, “such as the
installation of wind turbines and solar panels,” according to a White
House document cited by the Romney campaign. The spending also included
$18 billion for transit projects and $10 billion to upgrade the nation’s
electrical grid.
He falsely claimed the $90 billion was
equal to “about 50 years’ worth of what oil and gas receives” in tax
breaks, which he estimated at $2.8 billion. By his own figures, it would
have been 32 years’ worth. But it’s even less than that. The
administration estimates that eliminating oil and gas tax preferences
would raise about $3.9 billion a year (23 years’ worth). The industry
itself says the administration would increase its taxes by $8.5 billion a
year (10.5 years’ worth).
He falsely claimed Obama “put $90 billion
into green jobs … that would have hired 2 million teachers.” But that
$90 billion included loan guarantees, not just grant money, and the
government can’t hire teachers with loan guarantees.
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