Nov 08
6
A Wild Prediction
I wouldn't be surprised if somewhere soon after January 21st Obama announces something like this:
1.
The American Green Energy Challenge – as big as the idea of putting a man on the moon -
Within four years America needs to have developed a renewable
electricity technology that will be able to supply 75% of America's
current needs within 10 years. Key to this will be that it must also
solve the potential problem of utilising the existing retail infrastructure for recharging so as to enable gas station owners and energy companies to remain in business. The
investment will be 100 Billion plus.
2. The US car industry will be part nationalised, if not in name then by deed. Chrysler, Ford, GM
will all be owned 75% by the government through a series of bonds that
are issued the purpose of which will be to develop American electrical
technology that will be utilized in all US cars and will be exportable to the world. Price of the investment in the auto industry $200 Billion.
3. The government will write mortgages of up to $350k for any household is earning less than $200k. Keep the workers happy!
I
reckon that there will be a total green energy policy that will involve
universities, businesses, the energy industry and they will all be on
board…. He has until Jan 21st to put it all together. And I reckon that his team will have been on this for 90-180 days already. This is about making the first 100 days absolutely full of big spending, big employment stuff!
Update:
Obama and Biden have already announced the following at the Change.gov blog:
Invest in the Manufacturing Sector and Create 5 Million New Green Jobs
- Invest in our Next Generation Innovators and Job Creators:
Obama and Biden will create an Advanced Manufacturing Fund to identify
and invest in the most compelling advanced manufacturing strategies.
The Fund will have a peer-review selection and award process based on
the Michigan 21st Century Jobs Fund, a state-level initiative that has
awarded over $125 million to Michigan businesses with the most
innovative proposals to create new products and new jobs in the state. - Double Funding for the Manufacturing Extension Partnership:
The Manufacturing Extension Partnership (MEP) works with manufacturers
across the country to improve efficiency, implement new technology and
strengthen company growth. This highly-successful program has engaged
in more than 350,000 projects across the country and in 2006 alone,
helped create and protect over 50,000 jobs. But despite this success,
funding for MEP has been slashed by the Bush administration. Barack
Obama and Joe Biden will double funding for the MEP so its training
centers can continue to bolster the competitiveness of U.S.
manufacturers. - Invest In A Clean Energy Economy And Create 5 Million New Green Jobs:
Obama and Biden will invest $150 billion over 10 years to advance the
next generation of biofuels and fuel infrastructure, accelerate the
commercialization of plug-in hybrids, promote development of commercial
scale renewable energy, invest in low emissions coal plants, and begin
transition to a new digital electricity grid. The plan will also invest
in America's highly-skilled manufacturing workforce and manufacturing
centers to ensure that American workers have the skills and tools they
need to pioneer the first wave of green technologies that will be in
high demand throughout the world. - Create New Job Training Programs for Clean Technologies:
The Obama-Biden plan will increase funding for federal workforce
training programs and direct these programs to incorporate green
technologies training, such as advanced manufacturing and
weatherization training, into their efforts to help Americans find and
retain stable, high-paying jobs. Obama and Biden will also create an
energy-focused youth jobs program to invest in disconnected and
disadvantaged youth. - Boost the Renewable Energy Sector and Create New Jobs:
The Obama-Biden plan will create new federal policies, and expand
existing ones, that have been proven to create new American jobs. Obama
and Biden will create a federal Renewable Portfolio Standard (RPS) that
will require 25 percent of American electricity be derived from
renewable sources by 2025, which has the potential to create hundreds
of thousands of new jobs on its own. Obama and Biden will also extend
the Production Tax Credit, a credit used successfully by American
farmers and investors to increase renewable energy production and
create new local jobs.
Update Nov 9th
It may already be too late for GM. According to Bloomberg the company is fast running out of operating cash.