It’s great to see these tax incentives continued. With all the expenditures being tacked onto this bailout bill, this is one that we can’t afford NOT to have.

I believe that resolving the energy crisis is a vital component of solving our economic crisis. If we create a powerhouse renewable energy industry in America, we can truly have a global impact on climate change while “renewing” our own economy at the same time.

Just one example:
A California company is manufacturing an algae biofuel that could replace oil. While there are still many competing solutions for vehicle fuels, this one is certainly very promising. Imagine America replacing the Middle East as the world’s source of vehicle fuel. This year the Middle East will receive roughly a trillion dollars from around the world for its oil exports, with billions of dollars coming from the US. What if those dollars were flowing in the other direction? Imagine what that would do for America, in terms of revenue and new jobs for our citizens.

In fact, the whole $700B federal bailout is LESS than the $740B that Middle East and Central Asian governments will make this year alone from their oil revenues (Source: “World Economic and Financial Surveys: Regional Economic Outlook, Middle East and Central Asia,” IMF, May 2008).

Thanks for all you’re doing to work on the climate crisis and promote renewable energy.

Andrew Duggan
http://www.andrew-duggan.com