Wednesday, February 25, 2009

Obama Speech and Green Investments

Last night, Obama made another marvelous speech to Congress. And he used the opportunity to drive home his priorities for renewing the U.S. economy.

At the very top of the list: renewable energy.

This is more than symbolic. Obama is, unlike so many congressmen who pay lip service to sustainable energy, actually driving resources there to the tune of more than $107 billion.

What's more, he's talking about a cap-and-trade scheme here in America that would be somewhat modeled, presumably, on similar programs being conducted under the Kyoto Protocols.

To that end, he's pledging $15 billion a year toward sustainable energy projects. Here's part of what he said last night:

"The budget I submit will invest in the three areas that are absolutely critical to our economic future: energy, health care, and education.

It begins with energy... Thanks to our recovery plan, we will double this nation’s supply of renewable energy in the next three years. We have also made the largest investment in basic research funding in American history — an investment that will spur not only new discoveries in energy, but breakthroughs in medicine, science, and technology.

"We will soon lay down thousands of miles of power lines that can carry new energy to cities and towns across this country. And we will put Americans to work making our homes and buildings more efficient so that we can save billions of dollars on our energy bills.

"But to truly transform our economy, protect our security, and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy. So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America. And to support that innovation, we will invest fifteen billion dollars a year to develop technologies like wind power and solar power; advanced biofuels, clean coal, and more fuel-efficient cars and trucks built right here in America."


Obama is not a tippy-toe kind of guy, that's for sure.

He doesn't seem interested in bartering piecemeal with the opposition for a concession here and there. He's defining the playing field, and his vision does not feature an option whereby the same old policies and talking will suffice.

He seems bent on revolutionizing our infrastructure for real - which is every bit as ambitious as Kennedy's pledge to land on the moon... but a whole lot more practical and necessary.

It will also, in our opinion, prove to be a lot more profitable. And that's exactly where we plan to strike first, when our new recommendation comes your way within the next week or so.

Good day,

James

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