Read both these stories and go bang your head on a wall repeatedly.
But a commitment by European governments to budding clean-energy entrepreneurs is creating a more welcoming environment than in America, where erratic support and onerous financial rules have given pause to some start-ups and investors.
The nation’s demand for electricity is growing, and utilities want to build new power plants to satisfy that appetite. Most of those plants — perhaps as many as 150 — would burn coal.
Well, at least the coal rush is hitting a few hurdles. But even if half those plants don’t come about, that’s still 70+ coal fired power plants, nice!
The interesting part of the IHT story to me was this.
Venture capitalists and private equity investors in North America have been more bullish, providing $3.5 billion to clean-energy developers in 2006, roughly triple the amount raised in Europe, the Middle East and Africa, according to New Energy Finance, a research firm based in London.
So, if the US had the right incentives, Americans would be investing there, creating jobs there, improving infrastructure there instead of in Europe. I guess those very “patriotic” American lawmakers don’t think that far ahead. Note also that all the tax cuts to wealthy Americans leaves a lot of cash floating around for them to invest in projects in other parts of the world. These are investments the US won’t reap a benefit on as a country, or create jobs for the working proletariat – Nice tax cuts, more patriotism, I guess. Such a poor return on investment on these tax cuts.