The Green Economy June 2, 2009 : 6:22 PM

At Huffington Post, T. Boone Pickens sings the praises of the green economy:

"Right now there are wind farms and manufacturing facilities in 48 out of 50 states. While our country is fighting its way out of a recession, this industry and others in the burgeoning green economy are bright spots, creating permanent, good-paying jobs, putting people to work, and helping America cement its status as a global leader in the energy industry."

Conservatives on Capitol Hill are claiming the green economy won’t create jobs, but that is simply false.

According to the Center for American Progress:

According to the Center for American Progress: "Spending $100 billion within the domestic oil industry would create only about 542,000 jobs in the United States. A green infrastructure investment program would create nearly four times more jobs than spending the same amount of money on oil energy resources. And again, spending on oil offers no benefits in transitioning the U.S. economy toward a low-carbon future, while perpetuating the economic and national security vulnerabilities by continuing to rely on oil for the lifeblood of our economy."

and

"China's leaders are investing $12.6 million every hour to green their economy... This massive stimulus plan will spend over 3 percent of China's 2008 gross domestic product annually in 2009 and 2010 on green investments-more than six times America's green stimulus spending as a percentage of our respective economies. This is about $12.6 million every hour over the next two years."