China Pushes Ahead In Renewable Energies
According to the most recent study from the Pew Charitable Trusts and Bloomberg New Energy Finance, China invested $34 billion in renewable energy in 2009 including wind and solar. This amount towers over the $18.6 billion that was invested by the United States. Of course, we have to take into account the fact that the recession has hit hard on all industries.
The problem is that the green energy sector has been hailed as the main hope to bring the United States out of the recession. It was hoped that it would create more jobs. But, without much needed funding, that boost in the economy might occur in other countries.
With all the debate about the health care bills, passing new energy and climate legislation has been shoved to the back burner. The rising costs of fuel will result in calls for the Federal government to take action. And, there may be demands for more drilling to be done off the U.S. coasts.