Posted on 3 January 2010
By Steve Tolen and Mac Williams
Standing tall on the world stage, America closed out 2009 by pushing for a meaningful climate agreement in Copenhagen. The U.S. delegation supported targets and timetables for greenhouse gas reduction, sending crucial signals to both domestic and global markets that help provide the necessary incentives to move the U.S. away from traditional fossil fuels.
This was an important step toward staving off the worst effects of climate change and growing millions of clean-energy jobs in America. Next up on the agenda is federal legislation that is equally important.
In 2009, the U.S. House passed a bill that would cut greenhouse gas emissions and provide a boost to companies like ours that are involved in the development, production, system integration, marketing and deployment of clean energy. Then, the Obama administration, through proposed Environmental Protection Agency rules, made clear the economic and environmental urgency of transitioning to a clean-energy future.
While we applaud the administration for moving forward, we believe federal legislation will provide much-needed certainty for potential clean-energy investors, as well as a more comprehensive and flexible approach than the proposed EPA regulations.
It’s now up to the Senate to examine these issues and put together a bill that will protect the health of our children and grandchildren, as well as the livelihoods of Hoosier farmers, and create new jobs when our state is in dire need of them.
Indiana is well-positioned to benefit from such federal legislation. A study recently conducted by the University of Illinois, Yale University and the University of California found that national energy and climate policies will create jobs, consumer savings and economic growth for our state.
In a purely competitive sense, China is leading the world in the race to provide clean-energy sources. It’s spending $12.6 million every hour on such investments. Only six of the top 30 wind, solar and advanced-battery technologies are American.
We should not underestimate the power of American ingenuity and innovation. Most grim cost projections by industry over the centuries — the cost of seat belts, airbags, catalytic converters and power plant air scrubbers, for example — were wildly overestimated. When finally mandated, industry met regulations for far less cost, and found that innovation made them more profitable.
When it comes to climate change and energy legislation, the most expensive thing we can do is nothing. The second-most expensive thing we can do is delay taking action. Indiana agriculture, tourism and other vital interests are at stake. What industry needs now is certainty, and the sooner industry can plan for the future, the sooner it can get on with the business of innovation.
As Indiana business leaders we have a vested interest in the economic health of our state. As entrepreneurs, we have our fingers on the pulse of the state’s economic future. The Obama administration is rightfully pushing for action on global warming, and we are hopeful that the U.S. Senate — including Indiana Sens. Richard Lugar and Evan Bayh — will join the president in supporting federal legislation that will clean up our environment and grow jobs at the same time.
Tolen and Williams represent Indiana Businesses for a Clean Energy Economy.
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