Are We Going to Shoot Ourselves in the Foot?
April 7th, 2011Are the citizens of this country so satisfied with the movement to reduce the national debt at all costs that they are willing to shoot themselves in the foot and shackle our future generations with a new spiral of job losses and a greater disparity between what the average American earns and what the top 1% of our wealthiest Americans earn?
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Do you know that this country presently exports more solar energy products than it imports?
Are you aware that the investments in energy research and development are reducing the cost of alternate forms of energy, that maybe; just maybe, we can reduce our dependence on foreign oil?
Are you aware that the House Budget Committee Chair, Paul Ryan, has submitted his proposal for the 2012 budget resolution that would completely eliminate investments in clean energy technologies of the future.
Instead it retains the $40 billion in Big Oil tax loopholes. Also, there would be tax cuts for the wealthiest Americans lowering the maximum tax rate to 25% for individuals and corporations. According to the April 4th Wall Street Journal op-ed, his plan “rolls back expensive handouts for uncompetitive sources of energy, calling instead for a free and open marketplace for energy development, innovation and exploration.”
Ryan has evaded answering the question as to whether he would continue the “welfare” for Big Oil giving those of us the uneasy feeling that the tax breaks and the Big Oil welfare will continue to be a major issue in the proposed house budget for 2012. Ryan’s budget would slash investments in the research, development and deployment of the clean energy technologies of the future cutting investments in clean energy by half in FY 2012, by two-thirds in 2013 and 90% in 2014 to just $1 billion.
The federal government invested seed money beginning in 2009 to launch industry here which would benefit the middle class with good-paying manufacturing jobs. In Michigan, the result of federal policy of investing in storage batteries has attracted 17 battery companies projected to create 63,000 jobs.
Here in Tennessee we have solar energy and electric car industry during this same period. We are talking about investments in billions of dollars in building auto plants, battery plants, and polysilicon manufacturing plants that would not have located here if the market for the next generation of autos and for renewable energy had not been stimulated by Federal dollars?
What will happen if the house budget is passed as proposed by Congressman Ryan is the loss of these jobs now coming into the marketplace continuing the outsourcing of good paying jobs overseas leaving us with lesser employments in the service sector. The Advanced Research Project Administration–Energy or APRA-E will disappear as funding for this program was eliminated by the House passed budget for the remainder of FY 2011 and likely will be excluded by the Ryan budget as well. This program has promise for reducing the cost of solar PV to a dollar a watt installed.
We will lose the technology developed by young start-ups to be produced in other countries.Investors, banks are providing capital to exploit the technology starting companies that will be competing in the world economy with new energy related products that will drastically reduce the demand for oil. With the emergence of the electric powered cars that do not need gas or diesel to transport workers to and from their jobs, our dependence on foreign oil will lessen and eventually disappear as a strategic concern will give this country a break from its role of policing the Middle-East so that the oil can continue to flow. Then our defense budget, which is one of the big three spending programs, can be reduced. Reducing our dependence on foreign oil is our biggest barrier and offers the richest target for improving our balance of trade and providing us with the opportunity to really reduce our national debt.
I cannot believe that so many of our citizens can be supportive of this counter-productive policies being offered by our Congress.
Stephen Levy, Technical Director, TSEA