Energy in the 21st Century
Here is a look at what the Obama-Biden administration plans for the direction of energy in the United States.
From President-Elect Barack Obama’s website
- Invest In A Clean Energy Economy And Create 5 Million New Green Jobs: Obama and Biden will invest $150 billion over 10 years to advance the next generation of biofuels and fuel infrastructure, accelerate the commercialization of plug-in hybrids, promote development of commercial scale renewable energy, invest in low emissions coal plants, and begin transition to a new digital electricity grid. The plan will also invest in America’s highly-skilled manufacturing workforce and manufacturing centers to ensure that American workers have the skills and tools they need to pioneer the first wave of green technologies that will be in high demand throughout the world.
- Boost the Renewable Energy Sector and Create New Jobs: The Obama-Biden plan will create new federal policies, and expand existing ones, that have been proven to create new American jobs. Obama and Biden will create a federal Renewable Portfolio Standard (RPS) that will require 25 percent of American electricity be derived from renewable sources by 2025, which has the potential to create hundreds of thousands of new jobs on its own. Obama and Biden will also extend the Production Tax Credit, a credit used successfully by American farmers and investors to increase renewable energy production and create new local jobs.
With such lofty goals, serious investments will need to be made by the Federal Government. Certain sectors have always benefited from previous administrations. Halliburton (HAL) would have been a good play in 2000 based on the Vice-President’s connection with the company. Use common sense and special interests to your advantage. On and on in the campaign trail you heard rhetoric on clean coal, solar, wind, and bio diesel as pillars of American energy independence in the 21st century.
Post what are your favorite picks in the clean green energy sector. You know it’s going to happen; I sure don’t want to look back 8 years from now and slap myself like I did over Halliburton and the other oil plays. Will we, as investors, be instore for a bright future?