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Congress Politicizes Energy Incentives, 116,000 Jobs In Jeopardy
It is time to stop messing around with a bill that has immediate and hard-hitting effects on our economy, our ability to be an international clean energy leader, and ultimately our energy prosperity.
By Alisha Fowler and Jesse Jenkins On Tuesday the Senate failed to pass the Renewable Energy and Job Creation Act of 2008 (50-44). The bill contained, among other things, critical production tax incentives for the rapidly growing renewable energy industry. The Senate may get another chance to vote on the incentives this month, but their bickering, politicization of the issue and ultimate stalling is looking more and more like a de facto decision: No to clean energy. If the renewable energy industry is unable to count on the incentives for next year they will count them out as they shape their workforce plans and pace of development. In other words, they'll cut thousands of jobs and scale back investments as they prepare to weather yet another expiration of the critical renewable energy incentives. Yesterday's front page headline of the Sacramento Bee was hard to miss, "Gas Prices Soar, Congress Bickers." A comparable headline comes to mind for the renewable energy tax incentives: "Congress Politicizes Energy Incentives, 116,000 Jobs In Jeopardy." Continued growth of the rapidly expanding renewable energy industry would be a win-win for America's economy and our environment. Several foreign wind energy companies were just starting to open U.S. manufacturing plants, but they will not continue let alone expand while Congress remains on the fence. (We should also note that these companies are FOREIGN precisely because of this kind of pervading political uncertainty in the United States surrounding clean energy investment.) This kind of politicized debate and partisan gridlock on renewable
energy incentives was not as big of a deal for the industry, or our
national economy a few years ago. In 1999, for example, the wind
industry was a fifth of its current size and pretty insignificant in
our overall economic picture. Now, however, due to several years of
rapid and robust growth in the wind and solar industries in particular,
more than 100,000 jobs, tens of billions of dollars, and the ability of
the U.S. to be a world leader in clean energy technology are at stake.  Source: AWEA
Trade organizations representing renewable-energy companies on Capitol Hill are already reporting less growth and increasing anxiety over whether the incentives will be available. The American Wind Energy Association estimates that more than 116,000 U.S. jobs and nearly $19 billion in investment could be lost in just one year if the incentives are not renewed. Monique Hanis, spokesperson for the Solar Energy Industries Association, reports that job losses are already happening as the outlook becomes increasingly uncertain. Hanis pointed out that, "In the long term what [this delay] means is that the U.S. is going to give up its leadership position in the technology." So what happened? Why is Congress fiddling while more than a hundred thousand good jobs and an entire year's worth of clean energy deployment are at stake? The popular story is that Republican obstructionists are standing in the way of a progressive clean energy agenda. From the recent demise of the Climate Security Act, to efforts to re-invest oil and gas subsidies, to the renewable energy incentives, it's all the fault of Republican obstructionists protecting fossil fuel industry turf. While there's definite truth to that, and Republicans have overwhelmingly come down on the wrong side of most smart energy issues, if we're really committed to seeing a solid investment in a clean energy future it behooves us to look a little closer than that. Truth be told, demagogue's on both sides of the isle are responsible for the current imperiled fate of our nation's renewable energy industries. The bill itself is not that controversial (who doesn't want 100,000 good jobs to stick around?!) but it has been complicated over the offsets included in the legislation. Both the Senate and the House have passed different versions of a renewable energy incentives bill several times since convening in 2006, so that's not the source of conflict. Disagreement begins when they debate how to pay for it; or whether or not to just swipe the national credit card again and tack on the relatively minor cost to the ballooning national deficit. Ironically, it's Republican lawmakers who argue there is no need to find "offsets" of "pay for" provisions to cover the cost of extending the incentives (so much for the former party of fiscal conservatism, eh!?). Otherwise, they see the bill as a just another tax increase and have vowed to block it. House Democrats, on the other hand, currently refuse to pass the bill without the offsets to cover the cost. They have repeatedly linked the bill to repealing subsidies or instituting windfall taxes on oil companies - something they know will instantly jeopardize bipartisan support (not to mention lose at least one "Oil Patch" Democrat). While this time around, Senate Dems found another "pay for" provision (taking a bite out of rich hedge fund managers' profits - perhaps slightly more palatable to the GOP than oil profits), the vote on the renewable energy incentives bill was brought to the floor directly after another vote on repealing tax breaks for Big Oil. Not surprisingly, both votes failed. Again. Of course, "Drill! Drill! Drill!" Republicans who want to drill for oil in ANWR (and everywhere else!) as opposed to developing fossil fuel alternatives deserve to be singled out. And perhaps Democrats scored some political points. But the long term effects of stunting the renewable energy sector will be far greater than any short term gains in an election year. So forget "pay-go" for now, and give renewables the green light they need. It's not that costly when you compare it to the war in Iraq. Right now, this is not about squabbling Republicans or Democrats. It is about supporting an industry that will seriously stumble without government assistance. It is time to stop messing around with a bill that has immediate and hard-hitting effects on our economy, our ability to be an international clean energy leader, and ultimately our energy prosperity. 9 COMMENTS:
This has happenend too many times in the past, and it gave a serious blow to clean generating industries. Idiots. One of the purposes of having a congress is to make strategical decisions. Well, what about it then?
We have to get more engineers and scientists into politics.
Posted by: Siphon
at June 15, 2008 10:42 PM
With our economy going into a slump, why is it that political figures are destroying valid financial options? Payday loans are an essential part of the U.S. financial system, providing loans to those who have bad or no credit that need the money fast. Yet, for one reason or another, legislators are targeting this financial system. Some states, such as Georgia and North Carolina, have even banned the industry all together! The politics behind it is simple; banks are lobbying the legislators to try and destroy their oncoming competition, and the legislators are falling for it. Even taking out the fact that banks are trying to take away your financial choices and freedoms so they can have a monopoly on loans, the corruption of our politics is simply wrong. Our opinions must be heard, and our freedom of choice, financial or not, should not be dampened on the soul fact on one person's financial gain.
I agree, it seems to me that "big Government" is more concerned about filling their own pockets and their own agendas instead of the peoples. Wasn't that the purpose of the goverment in the first place? I would say that if we don't take drastic measures soon to improve both our economic problems as far as jobs are concerned as well as our energy conservation efforts, we are going to find ourselves in a real severe crisis much greater then the one we are currently in. The 700 billion dollar bailout is costing America jobs everyday as banks tighten their noose on loan approvals making it more difficult for established small business owners to grow. The big banks who are largely responsible for this crisis get there hands washed clean by the feds while payday loan shops get blamed and even banned in some states for predatory loan practices. How Just is that? Guess it depends on how much you give Washington.
I think that 700 billion dollar bailout would have gone a lot further in improving the economy, the job situation and our overall economic outlook had we placed even just a small cut of the bailout money in the energy industry. More jobs, less dependency on oil, etc.
Just imagine what could be accomplished when our government stops bailing out criminals and starts focusing on the needs of the country and it's people.
According to some analyst, this problem occurs because of the improper practice of some lenders. Financial Crisis is applied broadly to a variety of situation in which some institutions loose a large part of their value. When a financial emergency strikes, taking on a budget requires strength, courage and sometimes, someone else in the ring. Similar to a great sumo wrestler – rikishi – who moves his competitor out of the dohyo (ring), you can take down your temporary budget crisis with the help of short term installment loans. You probably wouldn’t want to take on a cash-only situation empty-handed. You must be prepared when calamities strike, meaning to grab you out of your happy life; push, thrust and slap your way to cash liquidity. Now, let’s get down to your mission. The only movement required on your part is the click of a mouse or a phone call. Installment loans are a great, practical way to cover those threatening surprise bills and hold you over till your next payday. With an easy application process, obtaining short term installment loans has never been so simple. As soon as you submit your application, lenders begin wrestling for the right to provide you with the service you seek. If you qualify, you can receive your funds in as little as two hours via direct deposit right into your bank account. Keep yourself in the ring with the help of installment loans when those onrushing rikishi financial emergencies make a throw at your wallet. Click here to read more on Short Term Installment Loans.
People always hate to talk about when they are laid off. But as it has become every day's news headline since Yahoo started it with cutting 1500 of its task force last year, now a need of platform has been in demand where people can express their selves in words how they are feeling about their company, whey the got laid off was that justified or not.
And every thing they want to tell anonymously.And www.layoffgossip.com is providing you that platform.
If there are two things we don't need right now are the losing of more jobs and stopping the development of green energy. Of all the things that congress wastes our money on, you would think they would at least spend a little bit of it on something useful.
I would say that if we don't take drastic measures soon to improve both our economic problems as far as jobs are concerned as well as our energy conservation efforts, we are going to find ourselves in a real severe crisis much greater then the one we are currently in. The 700 billion dollar bailout is costing America jobs everyday as banks tighten their noose on loan approvals making it more difficult for established small business owners to grow. The big banks who are largely responsible for this crisis get there hands washed clean by the feds while payday loan shops get blamed and even banned in some states.
Payday loans are an essential part of the U.S. financial system, providing loans to those who have bad or no credit that need the money fast. Yet, for one reason or another, legislators are targeting this financial system. Some states, such as Georgia and North Carolina, have even banned the industry all together.
Payday loans are an essential part of the U.S. financial system, providing loans to those who have bad or no credit that need the money fast. Yet, for one reason or another, legislators are targeting this financial system. Some states, such as Georgia and North Carolina, have even banned the industry all together.
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