by New Energy World Network

With the US on the brink of change following Barack Obama’s historic triumph in the presidential election, those in the clean energy space were left considering what this would mean for the US’ burgeoning green economy. In a web video released last week for the Bi-Partisan Governors Global Climate Summit, the President-elect pledged new leadership to address global climate change.

In the speech, posted on YouTube, Obama reaffirmed his positive intentions, stating that there are few challenges facing the world today that are more pressing than tackling climate change.

Obama said, ‘Climate change and our dependence on foreign oil, if left unaddressed, will continue to weaken our economy and threaten our national security.

‘My presidency will mark a new chapter in America’s leadership in climate change that will strengthen our security and create millions of new jobs in the process,’ he added.

In the speech, he reiterated his pre-election plan to invest $150bn over the next ten years to catalyse private efforts to build a clean energy future, and the need to implement clear steps to propel the US to a leading position in terms of new energy resources.

His pledges included establishing annual targets to reduce emissions to their 1990 levels by 2020 and reduce them by an additional 80 per cent by 2050.

‘We will invest in solar power, wind power and next generation biofuels. We will tap nuclear power while making sure it is safe and we will develop clean coal technologies,’ he said in the speech.

For decades, the US has been the world’s largest petroleum consumer. However, a recent report from the Energy Information Administration (EIA) estimated that 58 per cent of all petroleum consumed by the US in 2007 was imported. The long-term implications of this situation were something that Obama appears keen to address. The proposed $150bn investment into homeland energy sources would seem to reflect this commitment.

Obama continued, ‘This investment will not only help us reduce our dependence on foreign oil, making the US more secure, and will not only help us bring about a clean energy future saving the planet, but it also will help us transform our industries and steer our country out of this economic crisis by generating five million new green jobs that pay well and cannot be outsourced.’

Obama also plans to introduce the Cap and Trade Program to Reduce Greenhouse Gas Emissions, which seeks to reduce carbon emissions by the recommended 80 per cent below 1990 levels, by 2050. Through this programme, all pollution credits will be auctioned with approximately $15bn of revenue per year going towards the development of clean energy. In a bid to limit dependency on foreign resources, this $15bn will be reinvested into domestic basic research, technology demonstration and aggressive commercial deployment and clean market creation.

Such a massive commitment would surely pave the way for new investment and future innovation as both industries and individuals clamour to meet this target.

The recent volatility in the price of oil and ensuing record highs have thrust the theme of alternative energy firmly to the fore, with investors paying increasing attention to the sector. In terms of venture capital alone, private investment in the renewable energy space topped $2.6bn in 2007.

The overriding theme in the industry is that the change of leadership will be a positive force.

Jim Pettit of clean energy-focused private equity firm Navitas Capital, believes that despite the financial crisis sweeping the globe, Obama will still play a pivotal role in the expansion of renewable energy. ‘While President-elect Barack Obama is poised to inherit a ton of problems across every dimension of his presidency, we look for the Obama administration to become a strong advocate for a wide array of clean technologies.

‘As a result of policy at the federal level, we believe that Obama sees an enormous opportunity to simultaneously stimulate the economy and improve the environment for future generations,’ he added.

Obama’s policies, however, do raise the question as to whether a critical change can really be implemented and whether the legacy of the past eight years of a Bush presidency can be significantly altered.

Amidst a flurry of economic woes, some have argued that it would be a mistake to place climate change at the top of the agenda in a time of financial difficulty and instability. However, many in the industry feel that the economic downturn will have little long-term effect on renewable energy and clean technologies, reinforcing the profile of this sector as a long-term prospect.

Another challenge facing Obama is that the US must acknowledge that it requires the support of emerging countries such as India and China if it is to make a significant dent in the global carbon footprint.

The Kyoto Protocol calls for developed countries to slash their emissions by five per cent by 2012, yet scientific research suggests that emissions requires an 80 per cent reduction by then if climate change is to be significantly tackled. With even Kyoto’s requirements looking a daunting prospect, Obama faces a stern challenge.

Indeed, Obama himself recognises that the US alone cannot solve this pressing concern. While he acknowledged that it was time for the US to set the precedent, he added that countries such as China and Brazil would have to follow suit with their own binding commitments. To that end, Obama, alongside Vice President-elect Joe Biden, has pledged to re-engage with the UN Framework Convention on Climate Change and bring all the major emitting nations together to develop effective emissions reductions efforts.

With the US known for its unashamedly consumer lifestyle, Obama understands only too well how crucial it is to tackle the issue of energy consumption if the new administration is to show a deep commitment to change. To this end, fuel economy standards are set to increase by four per cent each year while one million hybrid cars are expected on the road by 2015.

The next president expects ten per cent of all electricity to be derived from renewable sources by 2012. With Barack Obama yet to step into the White House, we can only speculate whether his goals will be realised. It remains to be seen whether the US can lead the way in the world’s efforts to tackle climate change.

Copyright © 2009 newnet
Retrieved from “http://www.articlesbase.com/politics-articles/will-barack-obama-change-the-face-of-the-us-green-economy-763969.html”

(ArticlesBase SC #763969)
New Energy World Network

Welcome to New Energy World Network.

Our mission is to inform and connect the global clean energy investor community.

Our role is to promote and facilitate investment in innovation by providing the latest news, views and analysis and by organising exclusive networking events between the leaders, experts and shapers of the industry.

By Rose Eric

The new buzzword in the economy is green jobs
. The Obama administration envisions green collar jobs to boost the lagging economy. The industrial leaders of the renewable energy sector promote green collar jobs as the way towards increasing public awareness of the need for environmental protection while increasing the prospects for their bottom line. The environmentalists want green collar jobs to be more pervasive for the sake of Mother Earth.

Green Money

The better news for the Joes and Janes on the street is that green collar jobs mean green dollars on their pockets. Pundits estimate that as many as 185,000 jobs can be generated by the end of 2010 and that figure is for the wind sector alone!

In the solar energy sector, the numbers are more impressive with 7 million jobs created by the year 2030. Of course, it may seem way off into the future but that future starts its roll today. Thus, professionals and skilled workers are advised to hone their skills for green jobs as early as possible.

Efforts along this line will be well rewarded. Many online pay scale sites have discovered in surveys that solar and wind energy workers earn more than their counterparts with similar skills in other industries. Even entry level green energy jobs like solar power installer and wind turbine fabricator can earn at least $36,100 per year, depending on the skills, expertise and experience of the individual as well as the location of the projects.

Another good thing about green jobs aside from the better pay is the upward mobility possible. Workers can move up the ranks with experience, seniority and advanced training depending on company policy.

Of course, higher education in colleges as well as professional licenses matter with green energy jobs but not as much as one expected them to since even high school graduates can enter the workforce. More often than not, one should have transferable skills that can be re-purposed as well as the right training for the solar and wind energy sectors.

Green Earth

Green collar jobs also benefit the Earth as well as the pockets of its human inhabitants. Keep in mind that the definition of green collar jobs almost always center on the positive impact, either direct or indirect, of the activities involved on the Earth itself.

Thus, you will read of definitions whereby green collar jobs should generate and use renewable energy, conserve natural resources, minimize waste and use of hazardous materials, promote biodiversity and a healthy ecosystem and lessen greenhouse gas emissions, to name a few goals. Indeed, green jobs are green precisely because these make for a greener Earth in more ways than one.

However, it cannot be overemphasized that gaining employable access to the green sector is not as easy as it seems. Of course, one can always directly apply to companies dealing in renewable energy particularly solar and wind power, which are the largest and fastest-growing niches in the industry, but it is always better to have previous training.

Thus, we strongly suggest going back to school for training in either niches. You will only spend a few months or years earning your certification and/or associate’s degree but the rewards will be for the long-term. This way, green jobs are yours for the taking, thanks to your educational advantage.
Retrieved from “http://www.articlesbase.com/environment-articles/green-jobs-mean-green-money-and-a-green-earth-1811978.html”

(ArticlesBase SC #1811978)
Rose Eric

For the latest News on Breakthrough Green Jobs Training programs in the Renewable Energy world visit the Environmental portal of Wind and Solar education.