Categorized | Energy Investment

Energy Investments are Necessary

Posted on 05 October 2012

Energy Investments are Necessary

MarketWatch indicates that investing in green-energy is necessary, stating, “America has a nasty addition to fossil fuels” and that needs to change. However, they say habits are hard to break, try breaking the habit of an entire nation. Fossil fuels not only put nasty chemicals in the atmosphere, financially, it makes sense to invest in alternative energy.

As a nation dependent on foreign oil, we sends hundreds of millions of dollars everyday to undemocratic, sometimes hostile regimes, which compromises our national security.

“We must kick out our fossil fuel habit, and this means drastically increasing the amount of energy produced from clean renewable sources.” – MarketWatch</blockquote>

Experts indicate that this is an entirely reachable goal if we get rid of fossil fuel subsidies, place a price on carbon (either through a carbon tax or cap-and-trade), and increase investments in green technology and infrastructure.

Eliminating fossil fuel subsidies and placing a price on carbon would make fossil fuel energy more expensive and the alternative cleaner energy less expensive.

Some defenders of fossil fuels oppose these measures, arguing that we shouldn’t pick winners and losers, and instead we should let the free market decide how energy is produced. Here’s why they’re wrong.

Despite the presence of green investments and subsidies, the playing field is heavily stacked against renewable energy in favor of fossil fuels. Between 2002 and 2008, federal fossil fuel subsidies totaled $72 billion, nearly 2 ½ times more than subsidies for renewable energy. – MarketWatch

Source: MarketWatch
Image Source: How Stuff Works

Comments are closed.