Obama's Economic Address

Listening to Obama's economic address last night was almost surreal. To have a president actually facing real problems instead of tilting windmills. To hear actual logic instead of double speak. It's a whole new country. Of course, the Obama administration will make more than their fair share of mistakes ahead, but at least they are attacking issues head on with full brain capacity.

Obama's budget will focus on four major areas: energy, healthcare, education, and reducing the debt. As he said, "[it] reflects the harsh reality of what we've inherited."

On energy, Obama would like government to take up a role that has been denied for the past 8 years, that of "catalyz[ing] opportunity" for businesses and individuals to be successful. As he said, the country that "harnesses the power of clean renewable energy will rule the future," and as crazy as it sounds, China is actually moving at a faster velocity than we are at the moment.

Obama proposes doubling the supply of renewable energy in the U.S. in the next three years, investing unprecedented funds into basic research, building thousands of miles of power lines for new energy sources, and stimulating energy efficiency. Moreover, he would like to stimlate the business side of energy by creating a market-based cap and trade system for carbon-based energy. Overall, he will invest $15 billion/ year in renewable programs and technologies. That said, he will not allow the collapse of the American auto industry.

The rest of the address was also extremely interesting, but I will keep this short since we are energy and environment focused here.


Obama's energy/environment proposals are all essential, except perhaps the bailout of the auto industry. We will have to keep close tabs on that development.

Stay tuned for deeper analysis into what his inspiring speech actually translates to on the ground.