Alternative Energy and Economic Growth – The $990B economic gain…

We use a lot of money on energy imports in the west.  You can debate how much this figure is perhaps somewhere between $250B and $700B in 2007 (USA).  This USA Today article (link) points toward $550B per year on imported oil.  If we could keep these moneys within our economies this would provide significant stimulus to local economies. (If one takes the $550B and multiplies by 1.8 that makes $990B economic growth per year… not bad!)

There is significant evidence to tie rises in energy prices to economic crises (see table below) so why not think about how alternative and local energy sources could help develop the economy.  Google has done just that.  (link)

Also of interest is a new Wired / PBS five-part survey (link) looking at where the economy is picking up new jobs.  ”Renewables and the Environment” are at the top to the list with 56.8% of new jobs created.

The Google Report above Concludes as follows:

“Conclusion Energy innovation is a powerful tool capable of simultaneously addressing society’s goals of economic growth, enhanced energy security, environmental health, and de-carbonization.This project’s analysis suggests that breakthroughs in clean energy technologies could meaning fully improve the quality of our lives. Some of these benefits could accrue quickly, such as switching away from oil to electric transportation. Others, like lower-cost clean generation technologies, are long-term investments which begin paying enormous dividends around 2030, increasing through 2050.Getting there will take the right mix of effective policy, a major sustained national investment in innovation by public and private institutions, and the increased mobilization of the private sector’sentrepreneurial energies.”

“The benefits are clear, so let’s go!”

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Table from this excellent Site: The Geography of Transport