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wind_turbines1_200Here’s an excerpt of an article from CNBC which gives an idea why without clear, long term energy policy in the U.S., we may fall behind in the global clean tech industry. (Link follows excerpt)

Mark Koba, Senior Editor | 15 Nov 2009 | 06:20 PM ET
Green is not turning into American red, white and blue.
AP

Despite recent advances, the U.S lags far behind other major countries when it comes to clean energy investment and experts say it may never lead, let alone compete on equal terms.

And that’s after some $836 million in green technology deals in 2009—the most ever, according to Greentech Media, and another $8 billion in renewable energy loans budgeted under the Obama administration’s stimulus package.

“We stand to fall farther and farther behind other countries like China and India unless there are fundamental shifts,” says Susan MacCormac, chair of the venture capital and cleantech practices at international tech law firm Morrison & Foerster. “The U.S. should catch up, but odds are low that it will.”

A recent report from Deutsche Bank ranks the U.S. and Canada as two of the worst countries for investing in renewable energy, with Germany, France and China listed as among the best. The report cites a lack of long term and transparent energy polices in the U.S. that would translate into any kind of certainty for investments.

“I think there’s been no long-term vision that’s been executed,” says William Brent, SVP of cleantech practice at Weber Shandwick, an international marketing and communications firm. “The Bush administration pretty much left it (green technology) on the table and Obama’s made some improvements, but there’s no political leadership that you’re seeing in other markets.”

Washington needs to commit to both policy goals and funding levels, says Dr. Fred Murphy of Temple University.

http://www.cnbc.com/id/33605819

One Response to “U.S. May Wind Up Green with Envy – CNBC article”

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