What Should America Do About New Energy Resources?

Whatever happens with the climate debate should not detract from the opportunity low-cost, renewable energy brings to those who are willing to invest in its development. In fact this could be the next big worldwide boom, not unlike the tech explosion at the end of the last century. The question is who will commit the necessary funds and resources needed to jump-start R&D efforts without burdening American citizens with more government debt and potential tax increases?

First, we must consider the needs of the US. We consume a disproportionate amount of the world's oil production. And, the countries with the greatest supply of this commodity are not particularly friendly toward America. Withdrawal from oil dependency cannot and will not occur overnight, no matter how much we or the government wish for it. We must find alternative fuels, but we must not put American industries behind the eight ball, dramatically change the lives of our citizens or pile on more taxes for anyone.

It is time to start drilling for oil wherever it can possibly be obtained - in the continental US, Alaska, off-shore and where our neighboring countries will make favorable deals. This is only a stop-gap measure, but it gives us some breathing room while scientists, inventors, entrepreneurs and large or small corporations are free to come up with viable alternatives.

The government's role? Stay out of the way! Incentive can be tax credits and the offer of bonuses, sales rights and other rewards that pay for results not for simply "working" on the project. The stakes are high, and the payoffs can be terrific, so why dole out money and have the government telling the creators what to do. Give creative minds the opportunity to think outside the box, be bold and tap into that good old Yankee ingenuity.

Talk about funding Green jobs with stimulus monies makes little sense, because there is nothing to produce until we discover the alternate to fossil fuels. Yes, build nuclear power plants, but don't let the builders accrue uncontrolled cost overruns. And before finalizing any contracts, bring in the unions and get some concessions for the good of all.

Let the wind farms be built and grids established by bringing in the banks to partner with the municipalities who will benefit from the cost savings this form of energy offers. Natural gas, clean coal, solar panels and yet to be determined energy sources all have a place in America, today. Some of these may be short-term others provide long-range potential, but we need it all, right now. The marketplace will decide which will succeed.

This opportunity is too important to restrict with a lot of government red tape. The cream will rise to the top if we just allow Americans to do what we do best. Create. Once we have something that meets the energy needs of this country and it is renewable and affordable, our companies will be able to transport this technology to other countries. The result will be a better energy sources, cost savings, more jobs for US workers and a cleaner planet.

Don Potter, a Philadelphia native, was born in 1936 and is a 50 year veteran of the advertising agency business. Now living in Los Angeles, he has written two novels in retirement, frequently writes on marketing issues, and has a blog dedicated to pre-boomers (those born between 1930 and 1945).

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