Wednesday, July 20, 2011
Green fuel subsidies politically unstable
Is it worth the money to continue subsidizing the green fuel industry (of which bio fuel is included)?
Some Foreign Affairs (1) bureaucrats don't think so. On one hand I can understand in an economic climate of cost cutting the subsidies devoted to any industry would be questioned, especially ones that don't have results that the average consumer can comprehend easily.
But to write off the entire green fuel movement as inadequate and likely to collapse? Probably not the case and reflects a level of American love for fossil fuels.
Is the current system inefficient? Perhraps, jobs aren't being created at the pace some would like to see (and more jobs would certainly help justify the various subsidies).
BUt to remove a level of investment would in fact harm our capability to become leaders in the alternative energy race. That's a big deal because whether we like it or not, the world (less India and China) are actively pursuing green fuel alternatives. We really don't want to be left behind here.
1 http://www.foreignaffairs.com/articles/67903/david-g-victor-and-kassia-yanosek/the-crisis-in-clean-energy
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