A series of agendas focusing on climate change signed by President Biden has given a major boost to the green energy sector.
The US President during his speech declared that the US is going to address climate change and establish a ‘modern and sustainable infrastructure’ by 2035. He also mentioned that the program will create millions of US-based jobs in the green-energy sector and that he is determined to lead the country towards a carbon-free plan by the end of 2035.
Biden has now officially signed several executive orders focusing on climate change, green energy, and a sustainable environment for the next generation of Americans. The new policies highlighted plans to uplift the US economy through developing a long-lasting green-infrastructure.
The US president who took over from Donald Trump in January said: “A key focus of our Better Recovery Plan is building a modern, resilient climate infrastructure.” This will create millions of jobs across the country and will benefit those engaged in these roles with a dominant wage and excellent benefits.
According to analysts, the green vision of Biden is ‘modern and sustainable infrastructure which the US needs’ and comes with the added benefit of creating upwards of 10 million jobs if executed correctly. These jobs will boost the US economy and the fight against environmental challenges within the same timeframe. According to a report, the country experienced a 4% increase in clean energy jobs in 2018, but Biden’s plan to increase the job rate by 6.7% is a big test.
Biden’s plan is certainly ambitious, however, several factors will measure whether the plan is feasible or not. For a start, the project will cost the US treasury around $2 trillion and with record levels of debt, it is hard to see where he will find the money to kick things off. Looking back in time it seems this is an extended version of climate and energy efforts proposed by Barack Obama, which was kicked into touch by congress due to it being ‘unaffordable‘. He will also face a difficult time to convince Congress.
The Bureau of Labor Statistics analysis shows that the ‘green-jobs’ project started in 2010 but failed spectacularly and was binned in 2013 leaving a huge bill the taxpayer had to pick up. It remains to be seen if this is yet another democrat disaster waiting to happen or they can pull it off and back up their words with real delivery.