{"id":1080,"date":"2011-05-23T15:23:29","date_gmt":"2011-05-23T15:23:29","guid":{"rendered":"http:\/\/blogs.edf.org\/energyexchange\/?p=1080"},"modified":"2011-05-23T15:29:38","modified_gmt":"2011-05-23T15:29:38","slug":"put-my-tax-dollars-into-a-growth-market-please","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/energyexchange\/2011\/05\/23\/put-my-tax-dollars-into-a-growth-market-please\/","title":{"rendered":"Put My Tax Dollars Into A Growth Market, Please"},"content":{"rendered":"

Guest Blog Post By: Jackie Roberts<\/a>, EDF’s\u00a0Director of Sustainable Technologies, National Climate Campaign<\/p>\n

\"\"<\/a>Two efforts to repeal tax breaks for oil and gas companies \u2013 Senate Bill S.940 and the Administration\u2019s budget proposals to eliminate subsidies in FY 2010, FY 2011, and FY 2012 budgets \u2013 should receive bipartisan support for no other reason than re-directing those subsidies can be an engine of job creation.\u00a0 University of Massachusetts at Amherst economic researchers developed employment estimates for various energy sources<\/a>, including energy efficiency strategies.\u00a0 Their data show that investments in energy efficiency creates 2.5 to four times more jobs than that for oil and gas development and renewables create 2.5 to three times more jobs than that for oil and gas development.<\/p>\n

These jobs are dispersed throughout the U.S. as shown with our LessCarbonMoreJobs mapping<\/a>, and bring particular benefits to the hard hit Midwest manufacturing regions.<\/p>\n

Large government subsidies might, just might, be justified if \u201cBig Oil\u201d was using profits to invest record amounts in transitioning to clean energy. \u00a0But, that is far from the case.\u00a0 A Center for American Progress analysis of Big Oil investments<\/a> reveals that the big five oil companies invested just four percent of their total 2008 profits in renewable and alternative energy ventures. \u00a0There are no signs that this level of investment has increased at all in the past several years.\u00a0<\/p>\n

Clean energy will be a major new market \u2013 by some estimates<\/a> the market for renewables alone will range from $1.7 trillion per year to $2.3 trillion by 2020, depending on different government policy scenarios.\u00a0 Having already slipped from first to third in terms of investments in this sector, the U.S. needs to play catch up.\u00a0 Government dollars should be used to help the U.S. transition to clean energy and to do so in a way that we have significant market share in as many clean energy solutions as possible.\u00a0 First mover advantages are critical with new markets and worth every penny we can devote to creating strong clean energy innovation and manufacturing here in the U.S.\u00a0 Such investments will also translate into cheap, homegrown energy sources in the medium- to long-term \u2013 the supposed purpose of the oil and gas subsidies.\u00a0 Put my tax dollars into a growth market, please.<\/p>\n","protected":false},"excerpt":{"rendered":"

Guest Blog Post By: Jackie Roberts, EDF’s\u00a0Director of Sustainable Technologies, National Climate Campaign Two efforts to repeal tax breaks for oil and gas companies \u2013 Senate Bill S.940 and the Administration\u2019s budget proposals to eliminate subsidies in FY 2010, FY 2011, and FY 2012 budgets \u2013 should receive bipartisan support for no other reason than …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[254,177,324],"tags":[],"coauthors":[],"class_list":["post-1080","post","type-post","status-publish","format-standard","hentry","category-energy-efficiency","category-renewable-energy","category-washington-dc"],"acf":[],"yoast_head":"\nPut My Tax Dollars Into A Growth Market, Please - Energy Exchange<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.edf.org\/energyexchange\/2011\/05\/23\/put-my-tax-dollars-into-a-growth-market-please\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Put My Tax Dollars Into A Growth Market, Please - 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