Jun 29, 2009

New Energy vs Old Energy Jobs and Investment

Let's face it, America has very smart and innovative people. BUT it does not like to change much unless it has to.

With the back and forth in DC over the new Green jobs-Green investment bill, the American Clean Energy and Security Act of 2009, it is interesting to hear commentators and experts complain of "ALL the JOBS that will be LOST" when green technologies are implemented vs old energy jobs.

Well the spot below from Reuters suggests that such would not be the case. Most Americans would like to have their jobs let by American companies but as we see in the current automotive crisis some of the best jobs in the USA are from foreign owned auto manufacturers specifically Italian, German, Japanese, and Korean. The jobs are still high paying, give security to a family, and involve the manufacture of products that benefit Americans just like those jobs offered by US based companies. But due to the Americans unwillingness to see the future and change accordingly the ultimate "Boss" is non American.

The Green job sector will surely be the same as we see below.

U.S. may become largest green market: E.ON exec

DUESSELDORF, Germany (Reuters) - The United States may become the largest market for renewable energy for E.ON, the world's largest utility by sales, within six years, the head of the company's green energy unit told Reuters in an interview.

Half of the company's generation capacity using renewable energy sources may be in the United States by 2015, as E.ON seeks to boost its total green generation capacity to 10 gigawatt within six years, said unit head Frank Mastiaux.

"We plan to boost our (renewable energy) business with investments worth billions of euros," he said.

"There is no comparable market" to the United States, he said.

E.ON had kickstarted its renewable energy business in the world's largest economy in 2007 with the 1.4 billion euro ($1.97 billion) takeover of the U.S. business of Irish windpark operator Airtricity.

About a fifth of E.ON's investments in the period from 2007 to 2010, some 6 billion euros, are earmarked for renewable energy projects, plus an additional 2 billion euros in 2011.

The utility is focusing on wind energy for now in the United States and plans to build some 500 megawatt in capacity a year on average in the long term in the country, Mastiaux said.

E.ON currently has a capacity of some 1,200 megawatt overseas. E.ON plans to build windfarms itself and will not make more takeovers in the country, he said.

The company's 2015 target of 10 GW renewable capacity excludes water power.

By Tom Kaeckenhoff

(Additional reporting by Peter Dinkloh)


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