mercredi 29 juin 2011

Google predicts U.S. will miss up to $3.2 trillion in GDP growth if green tech isn't encouraged

My last post detailed the costs of the Afghan war, which could reach $4.4 trillion dollars according to Brown University's Watson Institute.

Now, Google has published a study on its official blog in which they conclude that by delaying investment in green technologies by just four years, the US stands to lose up to $3.2 trillion in GDP and as many as 1.4 million new job creations. 

In addition, the study reveals that implementing clean energy policies would reduce household energy costs by close to $1,000 per year, cut back on US oil consumption by 1.1 billion barrels a year and lower the nation's total carbon emissions by 13% come 2030. 

If we look as far as 2050, Google estimates that up to 4 million jobs will have been created and carbon output reduced by 55%. 

The study's findings are very promising (although not surprising) and appear to be in-line with Google's desire to promote renewable energy technologies. The company has hired several lobbying firms and spent more than $1 million in the first quarter of 2011 to influence lawmakers on the subject. Furthermore, Google has also invested $780 million in clean technology firms working to find cheaper (and cleaner) energy sources than coal. 

So, if we do the math, the US will stand to lose $4.4 trillion to the wars in the Middle-East plus $3.2 trillion if they don't prioritize green tech (which they probably won't): that's a grand total of $7.6 trillion in losses just to finance counterproductive wars and an outdated, destructive fossil-fuel economy. All that without mentioning the cost of the Bush taxcuts [plus the regressive tax code as a whole], and the irrational privatized health-care/educational/carceral systems.

Don't forget to count in the banks, who still collects huge bailouts to cover the expenses of paying billions of dollars in bonuses [to increase the rate of foreclosures: the chief executive of the UK Asset Resolution said this week that showing « tough love » to those who can't make their mortgage payments and throwing them out of their homes is « fair » as it stops the person from being « further in debt » ; in sum, an increasing foreclosre rate has become 'fairness' ].

Already in 2009, Neil Barofsky, special inspector-general for the Troubled Asset Relief Program (TARP), said in a statement given to Congress that the US Treasury's bailout program could cost up to $23.7 trillion for the taxpayers, or 1.7 times the country's GDP.

And so the machine rolls on. Be sure to roll over when you hear it coming. 

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