October 8, 2008

Green stimulus package needed

Can the green industry help reverse the current unemployment rise in the US?

According to the NY Times last week, the Department of Labor reported the month of September as the worst unemployment record in five years, with 760,000 jobs lost in the past nine consecutive months.

This does not even include the effects of the recent Wall Street collapse.

This recent report from the Department of Energy might ease some of the pain if commercialization of fuel cells in transportation, stationary and portable power sectors will come to fruition.

According to the DOE, around 675,000 jobs could open over the next 25 years if Congress could aggressively implement President Bush's 2003 Hydrogen Fuel Initiative worth $1.2bn (seems paltry compared to the $700bn bailout, doesn't it?)

Unfortunately, the first fuel cell vehicles are expected to come out on the market by 2010-2012 so there are still a few more years to wait before these job openings will start trickling in.

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