Friday, July 10, 2009
Eco Factory - $3 Billion Stimulus to Green Energy, But Is is Enough?: "$3 Billion Stimulus to Green Energy, But Is is Enough?
Hundreds and Fifties - Lots of them
The US Treasury issued more stimulus money as it joined the Department of Energy on Thursday to announce $3 billion would go to renewable energy projects. According to the DOE on their website this 'innovative partnership [is] aimed at increasing economic development in urban and rural areas while setting our nation on the path to energy independence.' At the same time, the rest of the industrialized world is arguing over emissions controls in Italy and the US economy continues to show signs of weakening.
Back to the point of the new stimulus money, Tim Geithner, the US treasury secretary claims “The renewable energy program provides another important avenue for the Recovery Act to contribute to economic development in communities around the country.” Geithner went on to say this new stimulus money will help foster the development of new cleaner energies to help shed a US dependence on foreign oil.
Under the current Recovery Act, the US Treasury has the oversight to offer money to companies build functioning renewable energy plants. Under the old plan, these companies would have to wait for eventual tax credits. The new system serves progressive energy companies capital well in advance"
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