Obama Presidency to Give Impetus to Clean Technology

Obama in the Presidential Suite means that energy and the environment are poised for dramatic investment over the coming years. We await a comprehensive plan explaining how exactly alternative energy sources will be fostered over the coming years.

The campaigning Obama had pledged 150 billion dollars to be invested in the cause over the next decade. But given the precarious situation of the global economy, it is not clear how practial this plan is.

Energy experts suggest that Obama will compromise by not taking any drastic measures in his first year of office. He is still likely to push for energy efficiency standards early on and then make a push for more concrete steps once he has settled and the fiscal climate has improved.

Long terms plans would include aggressive carbon emission reduction targets and alternative biofuels. The Obama administration is also expected to be more amenable to collaborating with foreign countries to fight climate change and the depletion of non-renewable energy sources.

Having a Democratic Congress will make it easier for Obama to push relevant legislation. Several energy experts see wisdom in running a budget deficit at the moment for long term benefits accruing from investing in the new energy economy.