By James McKee
It is no secret that Obama is a huge proponent of clean energy and that his administration has pushed legislation to pursue this agenda. However, the reality of this effort has never been fully realized through encouraging growth in the green job sector, everything has been speculation and rarely action. Much of the industry has been forestalled due to actions against its growth coming out of the oil and gas industry. Powerful lobbyists have threatened both legal and political action if the government goes forward with support for this industry. The United States stands to gain 1.9 million jobs and over a trillion dollars added to the GDP, it seems like a no-brainer and it is for the common man; but for oil barons this is not something that is desirable.
The oil and gas industry’s voice may very well be silenced to a great extent shortly if the nuclear power plant in Japan has a meltdown. It is very well known at this point that using coal to power all of the world’s energy needs is insufficient, and the large cost related to oil and natural gas is also far too great for the world’s economy to accommodate. This gap in affordability has been filled up until this point with nuclear energy; the events transpiring in Japan have brought serious doubt to the long-term viability of “going nuclear.”
This has become a larger issue in light of the fact that the world’s economy has been suffering greatly, and the issue of using scarce funds to pay for such measures is not a popular idea. The United States needs to act swiftly if they hope to preserve their economy, and if they do not the value of the USD will suffer greatly on the forex currency exchange. If millions of jobs and a trillion dollars of GDP are added to the US economy the exact opposite will be the case.
About the Author
Author is a Forex trader and financial analyst residing in Denver, Colorado. To stay up to date on all the latest developments in the financial world and beyond be sure to check out the forex exchange rates regularly
