When President Obama conceived of the New Energy Economy in 2009, the opposition labeled it as radical — something that would bankrupt the country for an amorphous goal. But since 2005, the United States has reduced its annual energy-related CO2 levels by 14% while its economy has grown by 28%.
Public policies are encouraging investment in clean energy alternatives, prompting utilities to buy solar-and-wind-powered electricity — fuels that have dropped precipitously in price and that are now increasingly economic. The public, meanwhile, has been demanding the change while oil and gas operations are also trying to find their niches in a decarbonized world.
In 2009, then-Rep. Markey and former Rep. Henry Waxman of California had written a cap-and-trade measure to reduce CO2 emissions. And two years ago, Senator Markey and Rep. Alexandria Ocasio-Cortez introduced the Green New Deal. That package would invest more in wind and solar technologies, electric vehicles, energy efficiency, public transportation, and smart grids that make more room for green electrons.
The projects, meanwhile, would go into at-risk communities as well as those that are now dependent on coal — all facilitated by a well-funded “climate bank” that provides low-interest loans and a Civilian Climate Corps that preserves wetlands and other eco-sensitive areas.
Source: “Can We Stop Stressing Over The Green Energy Transition”, Forbes