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Hopes to increase use of green technology and create jobs

In addition to the recent $20 million the government gave to support the development of offshore wind energy, the Obama Administration is making another hefty donation to support additional efforts in renewable energy, but this time, it's for solar power. President Barack Obama is giving $1.85 billion to two solar companies in order to build new solar plants throughout the United States.

Obama's plan behind this new financial commitment is to create different avenues of renewable energy use and to also create new jobs for American citizens. His announcement regarding the donation for this project was presented in his weekly online and radio address on Saturday, which was one day after the U.S. Department of Labor revealed that employers, for the first time in six months, cut payrolls once again due to the possible end of 225,000 temporary census jobs.

The two solar companies that Obama has chosen to present the money to are Abengoa Solar and Abound Solar Manufacturing. Abengoa Solar plans to build one of the world's largest solar plants near Gila Bend, Arizona while Abound Solar Manufacturing will build plants in Indiana and Colorado. Together, these plants will create more than 2,000 construction jobs and 1,500 permanent jobs.

"We're going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America," said Obama.

Out of the total $1.85 billion, $1.45 billion will go to Abengoa Solar, since it's Arizona solar plant will create 1,600 jobs alone and will be able to power approximately 70,000 homes. The other $400 million will go to Abound Solar Manufacturing. 

"Already, I've seen the payoff from these investments," said Obama. "I've seen once-shuttered factories humming with new workers who are building solar panels and wind turbines; rolling up their sleeves to help America win the race for the clean energy economy."

The U.S. Department of Energy announced some clean energy news as well. The Weatherization Assistance Program, which insulates and protects homes and buildings with energy efficient improvements, has already helped perform weatherization work on more than 30 percent of homes in 12 states. This totals to approximately 108,000 homes and is saving more than $47 million on energy bills. The program has also created 10,000 jobs. 

In addition, the U.S. Department of Energy has approved another $76 million for energy efficient building equipment and technology as well as new training programs for commercial building operators, technicians and auditors.

Obama holds high hopes for these new programs and developments, hoping they'll boost the economy, and saying that "the administration is accelerating the transition to a clean energy economy and doubling our use of renewable energy sources such as wind and solar power -- steps that have the potential to create whole new industries and hundreds of thousands of new jobs in America."

The construction of these new solar plants are the latest efforts toward cleaner energy and employment under the U.S. Recovery Act



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RE: Instead of...
By Solandri on 7/5/2010 4:14:54 PM , Rating: 2
quote:
Why is Germany doing better than we are, if that's indeed the case. I don't see the big German businesses shipping all their labor to China... if anything, a lot of them also have plants here in the US. Why is it that with their higher tax rates, they are doing better than US companies ?

Germany avoided the housing bubble. Back when housing prices in several European countries had inflated even more than they had in the U.S, Germany's housing prices remained flat. When the housing bubble popped, Germany's economy was one of the few which wasn't directly affected. Indirect effects (they do a lot more foreign trade than the U.S.) however did drive Germany's unemployment rate significantly higher than in the U.S. around the beginning and midpoint of the recession. Since then, Germany has recovered more quickly, again, primarily due to it never having suffered the fundamental cause of the bubble - overinflated housing prices.

China is "stealing" from the rest of the world and its citizens by artificially maintaining its currency at a lower exchange rate. This results in more economic activity being shifted into China, but less compensation for Chinese workers. They're doing this as a strategy to quickly build up an industrial base, paid for by foreign money, and built on the backs of its citizens. Part of the U.S. response to combat this (lowering interest rates to near zero to help drop the USD's value, forcing China to reindex the Yuan at a higher rate) also ended up feeding the housing bubble in the U.S.

There's a lot more going on than "Country A is doing well so it must be doing things right. Country B is not doing so well so it must be doing things wrong."


RE: Instead of...
By FITCamaro on 7/5/2010 8:41:35 PM , Rating: 1
What's this? A clue?


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