Will Obama Put Real Money on the Table for Clean Energy?

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Tuesday February 24, 2009 · 4:46 PM PST

2009/02/24 · 16:46

by Jesse Jenkins, Director of Climate and Energy Policy for the Breakthrough Institute.

I know I may be chastised for criticizing Obama so soon after he delivered an unprecedented clean energy investment in the stimulus. But let's be clear: those investments were just the beginning, and Obama needs to articulate a clear and viable plan to make the sustained commitment and ongoing public investments necessary to truly build a new energy economy.

Poll

38 votes Show Results

Do you think $15 billion/year is enough to spur clean energy development?

38 votes Vote Now!

Do you think $15 billion/year is enough to spur clean energy development?

Way too low

16 votes

We're on our way

18 votes

Just right

1 vote

A bit pricey

0 votes

Too much too soon

3 votes

Obama Needs an Economic Philosophy

Breakthrough Institute

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Thursday February 19, 2009 · 5:05 PM PST

2009/02/19 · 17:05

By Teryn Norris and Adam Zemel, cross-posted from the Huffington Post

On Tuesday, President Obama signed the historic American Recovery and Reinvestment Act to avoid a spiraling economic downturn. But is it enough?

No. The Congressional Budget Office projects the U.S. economy will lose $2.9 trillion in total economic output over the next three years. To close that gap, Obama would need to sign a bill with approximately $2 trillion in total spending. But the current plan is less than $800 billion, with almost $300 billion for tax cuts. A recent report (PDF) by the chief economist at Moody's Economy shows that while one dollar of public spending can boost GDP as much as $1.70, every dollar of tax cuts can increase GDP by only $0.30 to $1.00. In other words, spending is up to five times more effective than tax cuts at boosting GDP.

Breakthrough Institute

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Wednesday February 18, 2009 · 10:53 AM PST

2009/02/18 · 10:53

Cross-posted from the Breakthrough Institute, by Adam Solomon Zemel

The New York Times reports that even as President Obama signs the economic stimulus bill into law today, he and his aids are indicating that the President has not ruled out the need for continued public spending to stimulate economic recovery:

The president said he would not pretend "that today marks the end of our economic problems."

"Nor does it constitute all of what we have to do to turn our economy around," Mr. Obama said at the signing ceremony in the Denver Museum of Nature and Science. "But today does mark the beginning of the end, the beginning of what we need to do to create jobs for Americans scrambling in the way of layoffs."

Obama's press secretary, Robert Gibbs told reporters on the way to the stimulus bill signing, "I think the president is going to do what's necessary to grow this economy." The Times reports that he then added, "[While] there are no particular plans at this point for a second stimulus package, I wouldn't foreclose it."

Poll

64 votes Show Results

Should Barack Obama begin laying the groundwork for a second stimulus bill?

64 votes Vote Now!

Should Barack Obama begin laying the groundwork for a second stimulus bill?

Yes. A more fiscal stimulus is an economic necessity, and Obama should prepare the public for this eventuality.

50 votes

No. While a second stimulus is necessary, Obama should let the debate over the current stimulus cool down before he goes to work on Stim2.0.

10 votes

No. Obama should not try to pass a second stimulus.

4 votes

Energy, Economy, and How to Rebuild the Center

Breakthrough Institute

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Wednesday February 11, 2009 · 11:46 AM PST

2009/02/11 · 11:46

By Adam Solomon Zemel, cross-posted from the Breakthrough Institute

After the American Recovery and Reinvestment Act passed in the lower chamber of Congress with absolutely no support from House Republicans two weeks ago, it was hard to predict what shape the debate would take in the Senate. But with perspective, the course of the Senate debate offers lessons for how we could secure investments in making clean energy cheap, and transform American politics in the process.

Just as it seemed that debate over the stimulus might stall, Ben Nelson, a Democrat from Nebraska, and Susan Collins, a Republican from Maine took the lead in an effort to bring a centrist approach to the bill in order to secure bipartisan support. What came out of this effort is a bill that slashes necessary and fast acting stimulus in the form of aid for state budgets and money for education, among other spending measures, while expanding tax cuts that will help the more affluent disproportionately to middle and lower class Americans.

Breakthrough Institute

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Monday February 09, 2009 · 10:51 AM PST

2009/02/09 · 10:51

Cross posted from the Breakthrough Institute

By Adam Solomon Zemel and Jesse Jenkins. Also posted at HuffingtonPost

Barack Obama's stance on energy issues is not the easiest to discern. While Obama the orator's language regarding energy has been inspiring - he's eloquently spoken of the need take bold steps and transform America's energy system - it is still not clear that Obama the President's policy ideas are similarly transformative. For a perfect case study, let's look at the seemingly ambitious goal to double renewable energy announced as part of President Obama's stimulus and recovery plan.

Early on, before the Inauguration, Obama gave his address announcing the key components of his stimulus plan. For clean energy, the big punch line was this:

"To finally spark the creation of a clean energy economy, we will double the production of alternative energy in the next three years."

Breakthrough Institute

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Friday February 06, 2009 · 10:05 AM PST

2009/02/06 · 10:05

By Adam Solomon Zemel, cross-posted from the Breakthrough Institute

The American Recovery and Reinvestment Act is not sailing through the legislative process quite as easily as many pundits had anticipated. The stimulus received no votes from House Republicans last week, and this week GOP Senators are joining the tumult. The bill has become embroiled in a few debates that are more political than economic, and is certainly demonstrating what President Obama means when he says he wants to bring a spirit of bipartisanship to Washington.

Yesterday, Senate Republicans proposed an incredible array of tax cuts and incentives--some trying to encourage consumers to make bigger purchases like tax credits for car and home purchases, as well as a big increase in plain tax cuts. The GOP has been in the media criticizing the spending aspects of the bill as not being timely enough or just generally less preferable then tax cuts (although it's pretty clear there's a healthy dose of ideology mixed into this economic-sounding argument).

Poll

14 votes Show Results

Should the ratio of spending to tax cuts in the stimulus be inverted?

14 votes Vote Now!

Should the ratio of spending to tax cuts in the stimulus be inverted?

Yes

2 votes

12 votes

Carbon Pricing is No Engine for Sustained Growth

Breakthrough Institute

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Tuesday February 03, 2009 · 11:24 AM PST

2009/02/03 · 11:24

By Michael Shellenberger, cross-posted from the Breakthrough Institute

There's an interesting, if frustrating, piece by David Leonhardt in the New York Times Magazine this week on the need for a strategy for long-term growth, not just short term stimulus. In it he makes a critique of green jobs -- and offers up pollution pricing orthodoxy.

"Green jobs can certainly provide stimulus. Obama's proposal includes subsidies for companies that make wind turbines, solar power and other alternative energy sources, and these subsidies will create some jobs. But the subsidies will not be nearly enough to eliminate the gap between the cost of dirty, carbon-based energy and clean energy. Dirty-energy sources -- oil, gas and coal -- are cheap. That's why we have become so dependent on them.

Poll

27 votes Show Results

AGREE or DISAGREE: Enacting a high price on carbon emissions should be the central priority of climate advocates

27 votes Vote Now!

AGREE or DISAGREE: Enacting a high price on carbon emissions should be the central priority of climate advocates

AGREE, without a doubt

18 votes

Would usally AGREE, but not in this economy climate.

1 vote

DISAGREE--I would rather see cliamte advocates working to secure investments to drive down the cost of clean energy.

8 votes

Setting Climate Priorities Straight

Breakthrough Institute

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Thursday January 22, 2009 · 11:35 AM PST

2009/01/22 · 11:35

Cross posted from the Breakthrough Institute

By Teryn Norris & Jesse Jenkins

As the prospects for high carbon pricing and cap and trade continue to diminish in the midst of a severe economic recession, some climate advocates are beginning to wonder: is there any alternative? In a recent op-ed we wrote for the Huffington Post, we argued:

Despite Obama's appointments, climate advocates are thus left to worry: is Obama really prepared to expend his political capital championing a policy that will increase U.S. energy prices in the midst of a recession?

Not likely. Until recently Obama voiced support for carbon regulation, declaring at a governors' climate conference in mid-November that his climate agenda "will start with a federal cap and trade system." But since then, as the recession has deepened, he has said little to nothing about cap and trade...

Poll

13 votes Show Results

Agree or disagree: Climate advocates are well positioned to make progress in decarbonizing the US and global economy and reduce emissions.

13 votes Vote Now!

Agree or disagree: Climate advocates are well positioned to make progress in decarbonizing the US and global economy and reduce emissions.

Agree

10 votes

Disagree

3 votes

Obama Stimulus: For Clean Energy, a Patchwork of Investments

Breakthrough Institute

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Wednesday January 21, 2009 · 10:43 AM PST

2009/01/21 · 10:43

Barack Obama has finally been sworn in as the 44th President of the United States of America. For once, there is no debate among pundits or Capitol Hill insiders about what Obama's first priority will be as President. It seems like President Obama has been working on crafting an economic stimulus bill since November 5th, and now the real work begins in earnest.

Last week, despite reports from the Congressional Budget Office that our economy will likely face $2 trillion of lost production over the next two years, Obama rolled out a stimulus plan that only spends $825 billion to make up for this gap in production. A summary of the American Recovery and Reinvestment Act, released by the House Appropriations Committee, gives us the first detailed look at how this money will be spent and invested. Reading through the section devoted to energy in particular, a glaring lack of spending and the absence of any sort of cohesive guiding framework both give reason for pause.

Poll

35 votes Show Results

Obama has been sworn in as the 44th President of the United States. Expectations are running high. In terms of dealing with the economy, Obama will...

35 votes Vote Now!

Obama has been sworn in as the 44th President of the United States. Expectations are running high. In terms of dealing with the economy, Obama will...

...not meet expectations--there are too many variables, and too much going on, for easy progress to be made in revitalizing the economy.

15 votes

...meet expectations. The stimulus, followed by cogent and cohesive public policy over the next two years will help us slowly dig our way out of the recession.

16 votes

...exceed expectations. Obama's stimulus is timely and strategic, and with his sharp economic team, he will put us back on track shortly.

4 votes

Greens Divided by USCAP Proposal: Will They Find Their Way Past the Price Gap?

Breakthrough Institute

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Friday January 16, 2009 · 1:26 PM PST

2009/01/16 · 13:26

By Adam Solomon Zemel, cross posted from the Breakthrough Institute

The U.S. Climate Action Partnership (USCAP), a coalition of corporations including General Electric and Duke Energy in addition to environmental groups such as the Natural Resource Defense Council and Environmental Defense Fund, released a "blueprint" for climate legislation today. Essentially a Cap-and-Trade system, the legislative recommendation reads like a sequel to the Lieberman-Warner Climate Security Act.

The report was released today, and already the fallout has perfectly captured the existential moment that the major green groups are experiencing right now in their increasingly urgent efforts to address climate change on a national and global scale.

Poll

6 votes Show Results

The USCAP Blueprint...

6 votes Vote Now!

The USCAP Blueprint...

...is a step forward, bringing corporations to the table to create a climate bill that business might support.

2 votes

...is just another sign of the green movement's inability to imagine alternatives to cap-and-trade.

2 votes

...is a joke.

2 votes

Obama Backs Off from Controversial Tax Cuts

Breakthrough Institute

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Thursday January 15, 2009 · 9:44 AM PST

2009/01/15 · 09:44

By Adam Solomon Zemel, cross posted from the Breakthrough Institute

Rumblings on Capitol Hill indicate that Barack Obama is backing off some of the more controversial - and potentially least effective - tax cuts that he had planned on fitting in to a stimulus bill. Democrats in both houses viewed the inclusion of so many tax cuts in Obama's stimulus plan as an overplay for Republican votes on a critical piece of legislation that could set the tone for the President-elect's subsequent four years in office.

According to the New York Times, Obama now plans to scale back some of the tax cuts and reinvest that money in clean energy incentives:

"After Senate Democrats complained last week that the tax package proposed by the Obama team did not focus enough on job creation or on the energy sector, lawmakers said that the incoming administration had agreed to drop a proposed $3,000 tax credit per new employee and to add more energy-related tax breaks."

Poll

67 votes Show Results

Obama first announced his stimulus plan a week ago. Given reactions from both parties, the media, and economists like Paul Krugman, how much potential do you see in the stimulus to put America's economy back on track?

67 votes Vote Now!

Obama first announced his stimulus plan a week ago. Given reactions from both parties, the media, and economists like Paul Krugman, how much potential do you see in the stimulus to put America's economy back on track?

A lot

10 votes

A fair amount

31 votes

Not much

22 votes

None at all

4 votes

Obama's Stimulus Plan: A Foundation for Growth?

Breakthrough Institute

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Thursday January 08, 2009 · 2:33 PM PST

2009/01/08 · 14:33

By Adam Zemel

In Northern Virginia today, President-elect Barack Obama addressed the nation, introducing a few basic goals and guidelines for an economic stimulus package that could cost as much as a trillion dollars.

Well aware that the large price tag on the stimulus, referred to as the "American Recovery and Reinvestment Plan," Obama included language about setting a foundation for economic growth now in order to return to a place of fiscal responsibility as the economy gets back on its feet. However, Obama was not shy about the need for the government to step in and spend, now:

"It is true that we cannot depend on government alone to create jobs or long-term growth, but at this particular moment, only government can provide the short-term boost necessary to lift us from a recession this deep and severe. Only government can break the vicious cycles that are crippling our economy - where a lack of spending leads to lost jobs which leads to even less spending; where an inability to lend and borrow stops growth and leads to even less credit."

Poll

23 votes Show Results

Agree or Disagree: I believe that President-elect Obama outlined a stimulus package today that will put America on a path towards sustained, broad-based prosperity.

23 votes Vote Now!

Agree or Disagree: I believe that President-elect Obama outlined a stimulus package today that will put America on a path towards sustained, broad-based prosperity.

Agree

15 votes

Disagree

8 votes

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RSS

Will Obama Put Real Money on the Table for Clean Energy?

Obama Needs an Economic Philosophy

Obama: Sowing Seeds for Stimulus 2.0?

Energy, Economy, and How to Rebuild the Center

From Rhetoric to Reality: Is Obama's Clean Energy Goal Really That Ambitious?

The Politics of Bipartisanship Stimulates Debate over Stimulus

Carbon Pricing is No Engine for Sustained Growth

Setting Climate Priorities Straight

Obama Stimulus: For Clean Energy, a Patchwork of Investments

Greens Divided by USCAP Proposal: Will They Find Their Way Past the Price Gap?

Obama Backs Off from Controversial Tax Cuts

Obama's Stimulus Plan: A Foundation for Growth?