Josh Barro of the Manhattan Institute has a good analysis of the recent “Green” summit at the White House. His conclusion:

But whatever it is, Cap and Trade is not a jobs program. This should be obvious. If the Obama Administration argued that we should further complicate the tax code, so as to create more jobs for lawyers and accountants, they would be laughed out of the room. The fact that people must work harder to comply with new regulations is a cost of such policies, not a benefit.
The Administration’s upside-down approach to job creation isn’t limited to the Green Jobs mirage. In his opening remarks at the jobs summit, Obama once again hailed Cash for Clunkers as a success the Administration should build on for future job creation. The program was a “success” inasmuch as the government successfully got consumers to accept $3 billion in free money. It was not a cost-effective economic growth or job creation measure — in fact, Edmunds.com estimates that it cost taxpayers $24,000 for every new car sale generated.
Not every idea advanced at the summit was bad — participants talked about the need to simplify regulations, improve American tax competitiveness, and increase openness of foreign markets. Even President Obama admitted that “true economic recovery is only going to come from the private sector.” But if Obama realizes the private sector must lead the recovery, why is he proposing to burden it with more taxes, more government spending, and more regulation? True economic recovery will only come when the Administration realizes that regulation does not create jobs.