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Letter: Economic stimulus offers solutions
Issue date: 11/25/08 Section: Editorial/Opinion
11/25/08 - To the Cigar,
President-elect Obama is in the process of outlining an economic recovery plan with the purpose of creating 2.5 million new jobs in America. His staff has not yet released in which sectors the jobs will be created, though it has been hinted energy will be a main focus.
With this impending package they will look to provide a backbone for the economy and inject large amounts of new money into the American system.
The main portion of the economic stimulus plan must begin to build the infrastructure needed for a completely different energy source. A long-term renewable energy that allows us to operate the American economy free of foreign oil. This year we imported approximately 500 billion dollars worth of oil; 500 billion U.S. dollars that are being sent to the Middle East, Russia, Venezuela, and other foreign nations. By beginning to build a new infrastructure we can gradually start keeping as much of the 500 billion dollars as possible in our economy. Trade is important, but the United States cannot remain a victim to OPEC's whim of cutting production, or a Global crisis crippling our supply of Oil. This move for new technology through the stimulus package must be made with the foresight of energy independence.
The government must take action now to create the basic essentials for a new energy source. Hydrogen would be the ideal resource to start with. We would see the substitution of Hydrogen as the primary fuel source becoming a long term economic stimulator continuing to grow upon itself over the next 30 years. Private investment in the industry also would be encouraged and needed over the long run for hydrogen fuel to be successful.
Hydrogen is a young technology but already we are seeing it implemented sporadically across the United States and Europe. The ability to turn Hydrogen into fuel is a realistic possibility and it would provide the easiest transition from gas. This transition has high initial costs preventing investment from the private sector. If the government were to reduce the initial costs associated with hydrogen fuel through this stimulus plan. We could potentially see investment from the private sector becoming much more lucrative as consumer demand would also be prevalent.
President-elect Obama is in the process of outlining an economic recovery plan with the purpose of creating 2.5 million new jobs in America. His staff has not yet released in which sectors the jobs will be created, though it has been hinted energy will be a main focus.
With this impending package they will look to provide a backbone for the economy and inject large amounts of new money into the American system.
The main portion of the economic stimulus plan must begin to build the infrastructure needed for a completely different energy source. A long-term renewable energy that allows us to operate the American economy free of foreign oil. This year we imported approximately 500 billion dollars worth of oil; 500 billion U.S. dollars that are being sent to the Middle East, Russia, Venezuela, and other foreign nations. By beginning to build a new infrastructure we can gradually start keeping as much of the 500 billion dollars as possible in our economy. Trade is important, but the United States cannot remain a victim to OPEC's whim of cutting production, or a Global crisis crippling our supply of Oil. This move for new technology through the stimulus package must be made with the foresight of energy independence.
The government must take action now to create the basic essentials for a new energy source. Hydrogen would be the ideal resource to start with. We would see the substitution of Hydrogen as the primary fuel source becoming a long term economic stimulator continuing to grow upon itself over the next 30 years. Private investment in the industry also would be encouraged and needed over the long run for hydrogen fuel to be successful.
Hydrogen is a young technology but already we are seeing it implemented sporadically across the United States and Europe. The ability to turn Hydrogen into fuel is a realistic possibility and it would provide the easiest transition from gas. This transition has high initial costs preventing investment from the private sector. If the government were to reduce the initial costs associated with hydrogen fuel through this stimulus plan. We could potentially see investment from the private sector becoming much more lucrative as consumer demand would also be prevalent.
