It's About the Economy, Not Drilling

Paul Krugman wrote in the New York Times that outrage is the proper response to last week's Congressional debate on offshore drilling. I agree. It is outrageous that in the face of the combined energy and economic crises, our representatives are fighting over a false promise that will neither save consumers money at the pump nor address the other looming crisis of our time: global warming.

Congress was dug in fighting over drilling when it should be talking about a new energy economy that will truly drive down energy prices and create jobs.

In last week's debate and this week's calls for Congress to return from its recess for the sack of drilling, it seems like our elected officials are forgetting two important realities: 1) America's energy and economic troubles are interrelated, and 2) so are the solutions.

Clean Tech: Engine of Economic Growth, Not a Luxury

Some people ask whether we can afford the 'luxury' of investing heavily in clean energy now that capital markets are in trouble and the economy increasingly in turmoil.

My answer is that we cannot afford NOT to make these investments. In fact they're the best, most lasting economic stimulus plan I can think of.

The fact of the matter is, over the next 20 years, America will spend an estimated $3 TRILLION dollars on energy infrastructure.

It's our choice whether to spend that money smart -- on clean, efficient technologies that cut emissions, create new jobs and new wealth for our society -- or spend it dumb, on more of the same 19th century technologies. And every dollar spent on a dumb idea that moves us back is a dollar taken away from smart solutions that move us forward.

We Are Not Just Talking about Solar Panels

Remember, a clean energy economy isn't just about wind farms and solar roofs. We're talking about hundreds of thousands of jobs for architects and engineers; drywall and air conditioning contractors; software designers and lighting companies.

These are opportunities in precisely the sectors that are experiencing the greatest difficulties right now. These are jobs in businesses that pay lasting dividends to the U.S. economy through increased competitiveness and reduced dependence on energy imports.

Here is an example of how just one clean energy solution -- increasing energy efficiency -- can boost the economy:

· Department of Energy studies show that energy efficiency measures can create up to four times as many jobs as constructing and operating large central power stations.

· When businesses and consumers save money on their utility bills, they have more money to invest in other parts of the economy--a development that has been shown to generate jobs.

Putting the Green Thumb on the Invisible Hand

At a time when the nation's economy is sliding into recession it is doubly critical that we seize these clean tech opportunities now and for the long term. It is time for us to realize that that economic growth and clean, sustainable energy go hand-in-hand.

I believe in the power Adam Smith's invisible hand because I've seen it work. But I believe just as deeply that we need that hand to have green thumb in order to make sure it's pointed in the right direction.

But we have to move quickly. There are several tools for jumpstarting sweeping investment in clean energy, ranging from the renewable energy tax credit which is up for reauthorization to a comprehensive bill to tackle global warming that will likely come to vote in the next Congress.

These measure should appeal not only to clean energy advocates, but to economists and business leaders as well.

Comments

[UnbiasView]

And the economy runs on energy, right now energy costs are high and the economy sucks. You can't fix one without the other.

[leduck]

either way...,
we'll have no choice but to change
the era of cheap oil is over
we have plateaued

the time to change was 20 years ago
but, better late then never

[sheila]

not to state the Obvious, but installing solar panels and microwind at point of use (in contrast to Big Energy owned wind and solar "farms") is the single most important thing we could do to prevent another Big Energy Hijacking like we are experiencing now.

you need to link the pricing and supply manipulations perpetrated by Big Energy Monopolies, which will continue under any Big Solar or Big Wind regime, and our unconscionable bills. the bizarre and inaccurate xenophobia of "independence from foreign oil" is being used to convince simpletons that we urgently need to waste all our public land and money building up All American Big Energy Monopolists to rip us off, instead of those damn' foreigners ripping us off. huh? i want Energy Independence From All Big Energy, Period. and i want ALL our gorgeous public lands saved from these Big Energy mercenaries - INCLUDING BIG SOLAR AND BIG WIND, and ALL our taxpayer/ratepayer dollars spent on getting US what we need - our own smart infrastructure.

which, by the way, will create far more jobs, will stimulate the economy better, and will protect our homes from eminent domain for the massive new (ahem) "renewable" power plants and powerlines RETI and other jerks are planning to destroy our neighborhoods with. there is a better way, and we count on Big Enviros to advocate for our wilderness and for us, which means NO MORE RAPACIOUS, WILDERNESS-KILLING BIG ENERGY MONOPOLIES, NO MATTER WHAT THE FUEL...

[WASanford]

Shelia, I couldn't agree with you more. The only reason T Boon Pickens is doing what he is, is that he smells money, ours! I want my household off of the grid. I want to power my car that way also. We have the technology, what we lack is the will. As soon as the housing bubble stops bursting, I'm going to buy myself a house, and you can safely bet that there will be solar panesl on my roof!

[mbaty]

Sustainability! The ocean is always rising and falling, the sun shines, the wind blows. We need to capitolize on all the free energy nature can give us. Like water, there really is no shortage, but if we don't take advantage of it, we'll be stuck with these creaky antiquated methods. Like nuclear power (a glorified steam engine that creates toxic.)

[leduck]

there is no such thing as free energy
it takes energy to get energy
always
some forms are cheaper then others

it's a law of nature
(thermodynamics)

[joebhed]

Talk about dancing on the head of a pin.

You are conflating the "free energy" concept of thermodynamics - which boils down to it takes energy to get energy,

with the "free" "energy" of the solar economy.

Off course, there will be economic and energy invested in obtaining the production of the solar energies. And there will be economic and energy inputs into collecting and distributing that energy to its use. There will be costly dollar and resource inputs.

But, the "energy" that the sun, the tides, the rivers and the atmosphere provide to we the inhabitants of the planet on an ongoing basis, that is free.

For which we should be both thankful and rational in its most benevolent and sustainable use.

[mayahbird]

This off shore drilling is just nuts. If the oil companies wanted more oil on the market they would be drilling on the leased land they have. Why- why- would they want more oil on the market and drive the price down???? That makes no sense to me. They are making big profits and that is what a business does and should be doing. That is what I would do.
What is missing is COMPETITION. That is where wind, solar, natural gas etc. comes in. That will drive down the prices.
The Republicans in Congress that are acting like goons should have more sense than to do what they are doing.
They gave the oil companies big subsidies and the oil companies fund the congress, and the tax payers get hit on both sides , left holding the tab.

[jay1975]

"What is missing is COMPETITION. That is where wind, solar, natural gas etc. comes in. That will drive down the prices." You realize that when talking about drilling for oil it is to bring down the price of gas right? How does wind, solar, natural gas etc make gas more affordable for the working family? The market is working towards solutions, that is why SUV's and large trucks are not selling and hybrids are being pre-ordered. The problem is that better hybrids and electric cars are still years, if not decades, away from replacing every vehicle on the road (not to mention airplanes, boats etc.). Until that time we absolutely need oil. Oil is used in all of our plastics, asphalt and so on. Not drilling is not the answer right now. In the (hopefully near) future we should be able to ween ourselves off of oil, but until then we have no choice lest we doom ourselves to life in houses heated by wood and travel by horse and buggy.