Spending the stimulus money: energy

By Michael Ruhl, University of New Mexico – Talk Radio News Service

President Barack Obama has left the U.S. Department of Energy with a difficult task: how spending $150 billion over the next decade will result in 25 percent of Americans using renewable energy sources by 2025.

At the Energy Information Administration’s annual conference in Washington today, Secretary of Energy Steven Chu said that government funding will drive scientific research to make renewable sources of energy more accessible and affordable.

A Nobel Prize-Winning Physicist, Chu said that with aggressive research, adequate government funding and public support, America will spark a technological and scientific revolution in the energy industry, making renewable energies more accessible and less expensive.

President Obama has committed to doubling the funding of basic science in the next ten years, and Chu believes the funds will have significant impacts.

Chu believes that economic prosperity is tied intimately to energy affordability and energy security, and cautioned against being misled into believing that there is any correlation between the amount of energy a country uses and that country’s economic prosperity. Citing numbers from the Human Development Index, Chu displayed that over the past several decades California’s energy consumption has remained consistent while its GDP per capita has nearly doubled.

President Obama has said repeatedly that his energy plan is one that will help the economy by creating green jobs which are not subject to the threat of outsourcing, but opponents criticize the costs involved.

The Energy policy laid out in January’s Stimulus Package allots over $16 billion to energy efficiency and renewable energy, which is part of the broader $32.7 billion that the Department of Energy was given overall.