Obama’s Energy Plan

Thanks to John Mauldin’s Outside the box for sending over the following summary of the Stimulus Package from George Friedman and Stratfor.

“The first stated goal of Obama’s energy plan is to fuel job growth through the “green” sector to the tune of at least 460,000 new jobs over the next three years. The stimulus package, which includes a short-term $50 billion roughly in energy projects, currently provides about $14 billion in loans for renewable energy projects, $4.5 billion for “smart grid” electricity updates, $6.4 billion for cleaning up nuclear weapon production sites, $6.3 billion in state-level energy efficiency grants, $5 billion for home weatherization projects and $4.5 billion for making federal buildings more energy efficient. The stimulus also allows for $18.9 billion in “green transportation,” essentially improving public transit and building high-speed rail. These expenses represent only the first step in the $150 billion investment over 10 years to secure energy efficiency and energy independence.”