Green, domestic energy solutions can employ generations in productive, smart, efficient industry. This must be the focus of our economic recovery. Those hoping we can just go back to selling financial services and shopping as our main focus are missing the significance of the revolution now underway. This is our generation's equivalent of the industrial revolution. Those still arguing about whether or not they agree with climate change have missed the boat. This revolution is about domestic energy and foreign oil independence first. And one other key factor in its favour; this revolution is common sense based, a thirst for healthy growth not just any growth. It’s hard to mount credible arguments against these goals, especially given the experience of recent years. One of the gifts of vast destruction (like we have seen the past few years) is that it frees people up to start fresh. Necessity truly is the mother of invention. This clip from economist James Galbraith this week is on point:
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Cory’s Chart Corner
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Daniele, where do you see investment opportunities in green technologies? Solar and wind electricity producers need to get paid a premium to produce electricity and only produce when the wind is blowing the sun is shining. I don’t want to pay for expensive electricity even thought its green.
Hybrid cars fuel savings are debatable, electric cars will be plugged into a grid in the U.S that produces more than 50% of electricity from fossil fuels. There seems to be no reliable green energy technology right now and probably for years to come. A lot of companies now advertise how there being green, but it’s mostly a marketing and excuse to charge consumers more. Where is the revolution? Seems to be a bunch of gimmicks and fads to me.
The opportunities are in every industry for new ways of doing business, new technologies, material recycling, less waste, higher efficiencies across the board. The cutting edge products, technology and services are best played by existing more mature companies and venture capital that can invest in and acquire new players. For individuals to invest their capital in start ups is more risk than most can bear.
But as far as consumers go, I believe that it is crucial that those who can afford to pay premiums where necessary do so for the right products.
For years now in my company and family, we pay a premium for green energy purchased from Bullfrog power, we pay a premium for organic products, food, green cleaners, we paid a premium for a hybrid car and more recently a blue tech diesel that emits 99%clean air from its tail pipe and goes 1000 km per tank. We pay more to support and lead demand in the right areas because we believe strongly in doing the right thing for the future of our economy, our planet and our health. If we demand it they (the innovators and green solutions) will come.
Those who can afford it but don’t feel they should have to pay more for the right products have to grow up a bit. Do you want to be part of the solution or part of the old world that is going down? I can think of few more rewarding ways to spend discretionary capital than by supporting the right players and the right products. At the same time of course, we need to lobby governments and write and speak out about how our tax incentives need to become more aligned to support business and consumers in making the right choices. Remember revolutions start with a few people doing the right things and leading the way, the trickle down from those leaders is spreading more and more every day. This wave for change not going away because it is common sense based.
Danielle, I do agree with increased efficiency but that should save money not add a premium to the price. I like the blue tech diesel technology but you simply aren’t going to make up for the premium paid by fuel savings not in 5 years maybe in 10 years. Plus CO2 is a trace element in the atmosphere making up less than 1%, I see no grave danger. CO2 has been at these levels before.
Same with florescent light bulbs I have friends that replaced every bulb in their house and saw no electricity savings. I think consumers should be careful and aware that most green products are not what they claim to be. I don’t think it’s common sense based, I think there a lot of misconceptions blindly accepts as common sense.
What old world that’s going down? This sounds more like the old economy and new economy concepts of the 90’s in the .com bubble.