Should the Government Invest in Green Energy?
Since his campaign, President Barack Obama has touted government investment in “green” energy technology as a way to create jobs, decrease U.S. dependence on foreign oil, and address environmental concerns about traditional sources like natural gas and oil. However, critics of the policy argue that investment in energy and other industries should be left to the private sector. The bankruptcy of solar energy company Solyndra after it was granted half a billion dollars in government-backed loans fueled their disapproval. Nevertheless, proponents of green energy, which includes solar, wind, and other renewable sources, argue that if the United States fails to build up such industries, its energy market will be overtaken by other countries that do, including China and Brazil. Here is the Debate Club’s take:
The Arguments
Yes — Handouts prop up nuclear, coal, and oil, so why not new technology?
JAMES GERSTENZANG, DANIEL BECKER, Advocates at the Safe Climate Campaign Comment (2)
Yes — Green energy investments pay off in the long run
CHRISTOPH STEFES, Professor at University of Colorado, Denver Comment (7)
No — Market, not subsidies, should determine the role of green energy in U.S. economy
NICOLAS LORIS, Policy Analyst at the Heritage Foundation Comment
No — Uncle Sam is a lousy investor and a terrible venture capitalist
DANIEL KISH, Senior Vice President for Policy at the Institute for Energy Research Comment (2)
Yes — Research, development are key to solving U.S. energy needs
MAUREEN RENO, Energy Economist at the Union of Concerned Scientists Comment (1)
Yes — Government has played an important role in supporting emerging industries critical to prosperity and security
STEVEN CHU, U.S. Secretary of Energy Comment (3)
No — If green energy is commercially promising, then profit-hungry capitalists will make those investments
JERRY TAYLOR, Senior Fellow at the Cato Institute Comment (1)
Yes — Forget Solyndra: Conventional fuels get more handouts than clean energy does
ERIC POOLEY, Vice President for Strategy and Communications at the Environmental Defense Fund Comment (5)
