Digital News Report – Today President Barack Obama unveiled a plan to create jobs and promote clean energy. After referencing double-digit unemployment, the President said his administration is ready to make and “investment” in clean energy and hopefully increase employment (Click Here to Read The Transcipt).
“Last month, however, we slipped back, losing more jobs than we gained, though the overall trend of job loss is still pointing in the right direction,” Obama said. Although unemployment is still rising, the rate of change has been on the decline since early last year (see the video below).
The goal is to put Americans to work and reduce our “dependence on foreign oil”. Major initiatives in the Recovery Act involved green jobs and alternative energy.
Although the U.S. has pioneered some of the technology, we have been lagging behind other nations, according to Obama. “. It’s China that has launched the largest effort in history to make their economy energy efficient. We spearheaded the development of solar technology, but we’ve fallen behind countries like Germany and Japan in producing it.”
The plan is to award $2.3 billion in tax credits for American manufacturers of clean energy technologies, specifically wind, and solar. Part of the tax credits will go to companies that assemble cutting edge batteries.
The goal is to create “17,000 jobs, and the roughly $5 billion more that we’ll leverage in the private sector investments could help create tens of thousands of additional jobs”.
The Obama Administration considers this a step towards doubling the renewable power we use over the next three years. “Put simply, this initiative is good for middle-class families. It is good for our security. It’s good for our planet.”
By: Tim Edwards