Obama Calls For Continued Spending On New Technology
May 6th, 2011
Speaking at Allison Transmission in Indianapolis, IN, on CSPAN, Obama called for continued spending on technology by the Federal Government in what sounded like a campaign speech. His policy improvements are limited and modest compared to the problems that the world faces. Obama recommends energy efficiency in vehicles, including new standards for fuel economy in heavy trucks, and switching to biofuel and natural gas as measures to decrease dependence on oil. He mentioned how government spending on advanced batteries has increased the American share of that market from 2% two years ago to 40%. He was not clear on whether that 40% was current or some future goal. This led to one of his main points that the president was proposing, he wanted to offer a tax break for consumers buying electric cars. Obama did state a goal of 1/3rd reduction on dependence on foreign oil by the middle of the next decade. That would be 2025.
Obama's only money making gesture was to end the Oil subsidies which he claims amount to $4 Billion dollars a year. Certainly that make sense, but it is a drop in the bucket. That is all he is talking about when it comes to razing revenue and cutting deficits. It was pretty sad to hear the President getting all excited about transmissions for hybrid trucks as if that was going to solve the problems in the American economy. He spoke about the need for American manufacturing to be the basis of the future economy without any specifics on how that is going to happen other than to say we need green and clean jobs. Obama emphasized the fact that other countries are investing in the new technologies and that he wants the USA to be the place where these technologies are developed. That is where he sees the jobs coming from. Wishful thinking, not a plan as far as I can see.
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From Bloomberg
China `Winning the Green Economy Race,' UN Climate Chief Says
By Alex Morales - Jan 27, 2011 10:02 AM PT
China is pushing ahead of the U.S. and Europe in developing clean- and low-carbon energy as a way to spur the nation's economy, the diplomat leading United Nations Climate talks said.
"China is going to leave all of us in the dust," Christiana Figueres, head of the UN Framework Convention on Climate Change, said at a panel discussion today at the World Economic Forum today in Davos, Switzerland. "They're committed to winning the green economy race.
China last year boosted spending on low-carbon energy by 30 percent to $51.1 billion, ``by far the largest figure for any country,'' Bloomberg New Energy Finance said Jan. 11. Global accounting firm Ernst & Young said in September that China for the first time overtook the U.S. in its quarterly index of the most attractive countries for renewable energy projects.
``You can leapfrog — you don't have to follow the model of the north,'' Figueres said. ``China is showing this.''
Chinese officials including lead climate negotiator Su Wei have said the country will push energy efficiency in its next five-year plan to be detailed this year.
At today's panel, Mexican President Felipe Calderon said the world is waiting for action from the U.S. in fighting climate change, while European Union Commissioner for Climate Action Connie Hedegaard said that U.S. businesses stand to lose out by stalling in taking action.
``American business should be aware that we're up here saying this is a race," Hedegaard said. "It's bad economics, it's bad business not to be among the front runners but to be hesitating. I hope that even more American business people would understand that they need to put the pressure on their politicians."
To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net
http://www.bloomberg.com/news/2011-01-27/china-winning-the-green-economy-race-un-climate-talks-chief-says.html
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UNEP Report On Green Economy
http://www.unep.org/greeneconomy/Portals/88/documents/ger/GER
_synthesis_en.pdf
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