People Who Say Yes to Investing in Renewable Energy
The biggest points that people argue when in favor of investing government subsidies in renewable energy is that it will create jobs and thus a better economy and of course that it will fight environmental problems concerning pollution. The other points are more concerned with being evasive of certain issues in the future. Oil is a scarce resource and once it starts running out and becomes more expensive, a black market will be created and wars will break out over who has possession of the prized substance. Not only that, if we do not learn to find alternative methods of fueling our power-sucking machines then pollution will get worse and worse to the point of affecting a person’s health.
Not only are government subsidies being considered for this pollution project in developing renewable energy, but tax incentives are also being given to those who take it upon themselves to use their new and developed green technology like hybrid cars. Even if the government were to invest in renewable energy, a rising issue that would need to be tackled is that people are wary of actually using it because it’s expensive and new. Money is the best way to convince people to do so, therefore making the tax incentives a very efficient option in jump starting a new wave in the green movement. Also once the technology becomes more available to people, then more will start adopting it as a way of life.
In addition to adding to the job market, some people strongly believe that investing in renewable energy will make the market more competitive which in turn makes for a healthier economy. US News says, “These policies would also help create new competitors to established energy industries that have received decades of subsidies, and general continue to receive them.”
Economically, some make the argument that in the long run, renewable energy in the international market are also very helpful in decreasing the cost of these technologies including wind and solar energy.
People Who Say No to Investing in Renewable Energy
The side of the debate’s rebuttal to those who believe investments in renewable energy will create new jobs is that if the government isn’t spending that money on renewable energy then it will spend money on a different issue that will create just as many jobs. Also the resources that this green energy will use are just taking away from the resources of another part of the world that is being just as productive. So why bother when the energy industry is alright where it is now? They say, “if it ain’t broke, don’t fix it.”
People on this side of the debate also believe that this part of the energy district can find a way to be competitive in their markets without the help of the government’s money especially since they have gone this far in the private sector without too much help from them. If these projects are actually worth it, then people will invest their own capital in the industry hoping to collect profit from it as well. By then we will know that green technology is definitely worth it.
To put it in perspective, US News has put the issue into terms of numbers: “Since 2007, total federal energy subsidies increased from $17.9 billion to $37.2 billion. Seventy-seven percent of that increase is due to the Obama administration’s stimulus. Renewable subsidies increased 186 percent, led by wind energy, which received a 10-fold increase to nearly $5 billion. Electricity prices have increased by 23 percent in the last five years.” From this type of information gathered, people argue that investing in green technology doesn’t benefit consumers whatsoever meaning that it will not be a successful market to spend the people’s tax dollars on since a profit will be near impossible to generate.
In fact, the Obama administration has spent a considerable amount of the government’s budget in attempting to improve the world’s environmental health, but statistics continually show that it is a failing industry that struggles to turn out a profit, and the world operates on money. If money isn’t being made then it is usually considered not worth the trouble and sacrifice.
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