As the White House considers curtailing subsidies to traditional domestic energy suppliers, its support of alternative energy has soared.
A new report from the Department of Energy shows that subsidies to the solar and wind industries skyrocketed 626 and 946 percent, respectively, between 2007 and 2010. Total subsidies to these industries rose from $5.1 billion to $14.67 billion in that period, reports CNSNews.com.
In April, President Barack Obama reiterated his call for an end to subsidies to oil and gas companies and said that, “instead of subsidizing yesterday’s energy, we should invest in tomorrow’s.”
Supporting alternative energy is without a doubt the right best thing for our future. Yesterday’s energy suppliers can also make a difference if they take advantage of the opportunities presenting themselves in an emerging industry.
Comment by EcoPowerBlog — @