Going Green Hurts?

" President Obama has often pointed to Spain as a model for a country that. Has invested heavily in environmentally friendly technology but now there is evidence that when it comes to the economy. Going green actually cannibalize is the existing workforce. Correspondent Shannon -- looks at the numbers behind the hype. And pretty soon we'll see more companies constructing solar panels. Workers building wind turbines car companies manufacturing fuel efficient car."

" Us President Obama continued to talk up green jobs today as one of the strategies he's focusing on as a means to rev up our economy. While also reasserting America's standing in the global marketplace. Over the last several months he's made a number of references to how are overseas counterparts are succeeding while the US watches and waits."

" Well America watched as the clean energy jobs. An industry the future flourish in countries like Spain Japan or Germany -- think about what's happening in countries like Spain. And Japan where they're making real investments. In renewable energy. Spain and generate almost 30% of its power by harnessing the wind while we managed less than 1%."

" But a new report out of Spain says that if that country is any indication Americans shouldn't be depending on green jobs to help the US economy. Professor Gabriel -- Alvarez has released a study with startling claims about what's happened in Spain and what he predicts will play out here. Cal Thomas says for every green job that's created with the help of government funding two point two -- jobs are lost. And that only one in ten green jobs winds up being permanent. With billions slated to go -- similar programs here and -- bless this study is sparking new concerns."

" Bullets an awful lot of money that's being funneled and if if we don't pay for it I guess we'll probably get some inflation out of it or else we could tax people and that will probably cost jobs. Take your pick you can't get something for an up and."

" But critics of the study say it doesn't translate to the US economy and that the dire predictions are overblown."

" A lot of the critics have missed the point. Acting as if this was sort of all public investment to create government jobs nothing could be further from the truth. It's about the private sector it's about innovation in business and it's about putting the economy back to work."

" When asked about the study today White House spokesman Robert Gibbs said he hadn't read it. But that it had any merit the US wouldn't be so busy importing wind turbine parts from Spain. In order to meet what he called the demands for renewable energy right here at home -- Okay Shannon thank you."