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Saturday
19Dec2009

Uncle Sam's Greenery

Yesterday, the House of Representatives passed legislation allowing for $2 billion in loan-guarantee funds to be returned to the Alternative Loan Guarantee program. The $2 billion had been pulled away from the 'ALG' program to supplement the 'Cash For Clunkers' program, but the House finally has decided to give it back. This is important news for new renewable-energy companies and ventures who need those loans guaranteed so they can begin new construction of facilities. President Obama is expected to announce America's goal of at least a 17% reduction in our greenhouse gas emissions at COP15 (Copenhagen) in the next few days. This goal increases the need to transition to a more responsible economic model. The debate on whether we should keep spending insane amounts of money on new government projects (i.e. health care, and the 'green' economy) still rages. But what we can be certain of is the overwhelming need to confront climate change, and make our country self-sufficient and clean in it's energy harvesting and consumption. Any money the Fed wants to send entrepreneurs in realizing a smarter future for our country, is warmly welcomed.