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COLORADO SPRINGS, COLO. -- President Obama has suggested creating new green jobs to boost the U.S. economy, but a new study indicates these jobs may actually do the opposite.

A professor at Juan Carlos University of Madrid headed up the study that examines what Spain's investments in alternative energy and creation of green jobs has done to the Spanish economy.

The study says that for every green job created by Spanish government subsidies, an average of 2.2 other jobs were destroyed.

The Colorado Springs Business Journal (CSBJ) tipped off FOX21 News about this Spanish study that predicts the U.S. could lose just over three jobs for every green job that it creates.

"The conclusion basically said that government subsidies are harming the switch to alternative energy by creating a bubble for investors that governments can't keep up in economic times," said Amy Gillentine of CSBJ.

According to the study, green energy costs more even with the subsidies and so businesses on budget are moving to areas with less expensive resources.

FOX21 News spoke to Eric Cefus, a proponent of sustainable energy and executive director of Catamount Institute, about the findings.

He describes these costs as short-term growing pains.

"We always need to look at efficiency and how we get new technology developed. To do that there is always an investment you have to make, and if we're not willing to make that investment we're going to pay the price in the long term," said Cefus.

That knowledge could be what saves the U.S. from experiencing the same initial setbacks associated with alternative energy as Spain.

"It's a different business climate and people are more interested in sustainable business practices in the U.S.," Gillentine said.

Those behind this study say green jobs are not the salvation for the economy.

That said, they still support an emphasis on developing sustainable resources.