While we focus more on sea level investment opportunities through a socially responsible lens here at The Panelist, one cannot ignore the macro trends above sea level that are driving these opportunities. Less than two weeks ago, the U.S. Senate came out with their version of this year's Clean Energy Act, and just last week, the House Education and Labor Committee approved the Green Jobs Act of 2007.
Drawn up by Reps. Hilda Solis (D-CA) and John Tierney (D-MA), this bill authorizes up to $125 million in federal funding to provide job training for green industries, such as energy efficient buildings and construction, renewable electric power, energy efficient vehicles and biofuels development.
While the total tab of $125 million may seem trivial in comparison to the two times that we spend per day in Iraq, the implications of this bill could be far-reaching. For starters, when disruptive technologies are created, oftentimes the ability to execute on the corresponding business plan to bring these technologies to market can create roadblocks. Should the execution falter, the overall effect of the technology on the marketplace can become limited. And if the right personnel is not in place to execute, then these roadblocks can come about more easily. And with these green technologies being as transforming as they are, having a knowledgeable implementation team is paramount for any enterprise that operates in the space.
Just as importantly, this bill could provide an outlet for the lower income demographic who may be getting shut out by the disappearance of our blue collar jobs. Whether it's because our manufacturing jobs are getting outsourced overseas, because some local industries are in rapid decline (e.g. automobiles), or because our factories are becoming more operationally efficient, our pool of blue collar jobs has been quickly shrinking. This could be the start of the next generation of blue collar jobs in America.
If, as a country, we are going to be serious about combatting climate change, we all need to be onboard. The top decision makers within clean technology are no more important than the blue collar folks that produce and install the finished product. This piece of legislation, and hopefully future similar ones, can provide the necessary impetus for the lower income demographic to become more involved.
In a capitalist system, industries evolve and we all see who the winners and losers are at the end of the day. The Panelist applauds this bill for helping push the evolution toward a greater cause. We acknowledge that this bill isn't the silver bullet that will solve all of our problems – but it's just one more piece to the puzzle.