Environmental Defense

The answer to the billion dollar question

There's a lot of buzz right now about the potential for "green" economic stimulus - policies and investments that grow the economy, create jobs, and protect the planet at the same time.

  • Treehugger reports that energy efficiency investment in California has led to 1.5 million new jobs and $56 billion in savings between 1972 and 2006.
  • An editorial in the Seattle Times explains how heavy investment in green infrastructure can put people back to work as well as solve the climate crisis.
  • A post on Gristmill cites Paul Krugman's argument that federal spending is the only way out of our economic woes, and suggests that this spending should include a Green Jobs program.

Investing in projects to repair and update our aging infrastructure would pay off in new jobs and a more efficient America. But where will the money come from? Stuck between pay-as-you-go rules and no new middle-class taxes, Congress doesn't have a lot of options.

One could be the auction of pollution allowances under a national greenhouse gas emissions cap. Estimates are that an auction could generate somewhere in the neighborhood of $150 billion per year.

As EDF President Fred Krupp explained October 28 on the National Journal blog,

...an emissions cap that includes an auction of pollution credits - a feature of many of the bills on Capitol Hill - could generate a substantial new source of revenue for easing the burden on taxpayers and putting more investment into transportation and electric infrastructure improvement as well as other important economic priorities.

This post is by Tony Kreindler, media director for the National Climate Campaign at Environmental Defense Fund.

 

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  • Posted by Mark Fri Nov 7, 2008 2:14pm PST
    We need to go smart, but that doesn't mean we can't go BIG. This financial crisis has presented an opportunity for important federal investments in green energy and technology. Why not propose an "energy cost stabilization program", that will keep energy prices within an acceptable but moderately high range? All revenues could be split between investments in domestic clean energy, and an "energy buffer fund" to provide relief in the event of disruptive spikes in energy costs.
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  • Posted by Matt R Tue Nov 11, 2008 6:44am PST
    Why not place a tariff on imported oil that must be payed by the exporting country? How about calling back all of the loans to oil producing countries as well. I'm sure Kuwait hasn't paid us back for the service of liberating their country ( they weren't even a 'Most Favored Nation' nor did we have any formal agreement with the US to protect or liberate it's land) We could also place a stop on the next aircraft carrier slated to be built. We have twice as many carrier groups on the seven seas than any other country. We can get by with what we have for a couple of years. How about a new version of war bonds? Call them green bonds. How about a $100.00 surcharge on every gas automobile or truck purchased in the calendar year? When it's all said and done, the Federal Government needs to "prime the pump" with a host of new programs. Making the green sector a priority will only guarantee a more reasonable approach to energy generation, conservation and use as well as an environment that will be safe, clean and beautiful for our children.
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  • Posted by robbrian6 Tue Dec 2, 2008 3:46pm PST
    There are three things Mr. Obama must do first: 1. Work with Congress to enact a trillion dollar stabilization package that assists State and Local governments, main street and america's families. 2. Reduce expenditures on the senseless war in Iraq with a responsible troop drawdown to save approximately three to four billion a month. 3. Designate renewable energy alternatives and technologies as THE priority in the arena of reducing global warming. Oil, coal and gas no matter where they are obtained will always be a problem. Mr. Obama would be well advised to declare an efficiency standard that is based on providing public resources, only, for every ton of CO2 reduced per dollar expended. The most efficient based on this standard is ocean energy. Rather than drilling 15K to 20K feet through oceans and into the earths crust use existing technologies to capture ocean energy. Using a scatter gun approach that gives all, non-renewable and renewable alternatives, a share of the very small pie only assures that nothing will work in time to achieve national goals for energy independence.
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