Energy | January 22, 2009 |
Will Inauguration Jubilation Translate to Swift Sustainable Action?
Now that President Obama is done with addressing the throngs and bow ties and balls for a while, and that his administration has been sworn in, it's time to get down to (green) business.
It was an intense extended weekend leading up to the inauguration, as shown in this series of videos produced by Blue Water Entertainment's Greg Reitman and Chip Comins of the American Renewable Energy Day. The videos (see more here) highlight the inauguration, Martin Luther King day on the D.C. Mall, a private party with celebrities for Barack Obama, and a green inaugural ball.
So how will the new government impact renewable energy and sustainable initiatives in the public and private sectors? Will there be Oba-momentum in clean tech financing, stocks, and projects?
One thing is for sure, we need more energy, so it makes sense for green energy to be seriously considered in any place wherever additional power generation is demanded. According to data released by the Energy Information Administration Wednesday, generation of electric power grew 2.3 percent in 2007, while retail demand grew by 2.6 percent. Wind power surpassed hydro as the leading renewable energy source during the year. When the 2008 data is released in a year it may show less growth because of the factories shuttered in Q4, but when the economy comes back (hopefully later in 2009), so will a surge in power demand. The solar industry will be a growing part of the energy equation, but not as much as was hoped before the economic downturn, according to Sustainable Industries.
Triple Pundit says an "Obama Bounce" is likely for clean tech stocks. The stock market rebounded on Wednesday after a dismal inauguration day plunge.
New Department of Agriculture secretary Tom Vilsack says the administration is committed to incorporating renewable fuels into our energy mix and the "USDA will be partnering with a number of other agencies and departments in trying to find a focused, aggressive, comprehensive effort,” according to Domestic Fuel. Since the billions of barrels of oil we've imported is all money leaving our economy, the administration is justifying renewable fuels as an economic issue.
The Sustainable Energy Network, consisting of 600 organizations and individuals, sent the administration a laundry list of top-priority action items, as reported by Greenbang. One of the first things the EPA may do is to stop fighting with California over the authority to regulate carbon dioxide emissions from vehicles.
Talking straight about the immediate challenges and our hopeful future is important, but the administration's actions will speak much louder.
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Comments By Readers
There could be no better investment in America than to invest in America becoming energy independent! We need to utilize everything in out power to reduce our dependence on foreign oil including using our own natural resources. Create cheap clean energy, new badly needed green jobs, and reduce our dependence on foreign oil. OPEC will continue to cut production until they achieve their desired 80-100. per barrel. The high cost of fuel this past year seriously damaged our economy and society. Oil is finite. We are using oil globally at the rate of 2X faster than new oil is being discovered. We need to take some of these billions in bail out bucks and bail ourselves out of our dependence on foreign oil. Jeff Wilson has a really good new book out called The Manhattan Project of 2009 Energy Independence Now. He explores our uses of oil besides gasoline, our depletion, out reserves and stores as well as viable options to replace oil.Oil is finite, it will run out in the not too distant future. WE need to take some of these billions in bail out bucks and bail America out of it's dependence on foreign oil. The historic high price of gas this past year did serious damage to our economy and society. WE should never allow others to have that much power over our economy again. I wish every member of congress would read this book too.
www.themanhattanprojectof2009.com
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