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The world economy is currently in a state of crisis and many people are very worried about their futures. There was much talk during the 2008 United States presidential elections about investing in renewable sources of energy to help the world reduce its need for oil and fossil fuels. The burning of fossil fuels from automobiles has caused a large amount of pollution to enter the air and cause dramatic environmental changes.

Now, the world economy has gotten very bad and there is not a lot of money left to invest into renewable energy. The United States for instance has over a trillion dollar deficit and has had to bailout both the financial and automobile industries. These bailouts cost the United States taxpayers billions of dollars and there might be a need for more bailout funds to be dispersed to other financial institutions.

The world needs to find other sources of energy because it is cost effective and will help the environment. These renewable sources of energy include the following: solar power, wind power, biofuels, hydro power, tidal power, geothermal energy, wave power, and biomass.

Investing in renewable sources of energy can be very beneficial to the world economy; many people are unemployed or underemployed and need a job. There will be an increased need for workers to produce these new sources of energy. Jobs that will be in demand include the following: scientists, engineers, mechanics, plant operators, and other types of workers. The world prospers when job creation happens.

President Barack Obama has said that it is important for the United States to build more fuel efficient cars so that consumers can save money. Last year, the price of a gallon of gasoline rose to over four dollars in many parts of the United States. This caused many people to begin to think about using renewable sources of energy to power their automobiles.

Weatherizing homes and investing in solar and wind power are top priorities for President Obama. He has said that it is a win-win situation for everyone involved. Because it will put people to work this in turn boosts the world’s economy. If people have more money then they will shop more, travel more, and rely less on their governments for monetary assistance.

Currently, many countries across the world are struggling financially so some of these renewable energy projects have been put on hold to further focus on helping the financial markets recoup their losses. It is important for countries to get involved in creating renewable forms of energy because it will help consumer lower energy costs and will help prevent a massive energy shortage in the future. Hopefully, something will be done very soon to make this a top priority across the globe.



Jason Grace
on behalf of the
BascoTec Internet Limited
Technologie Park 13
33100 Paderborn
Germany

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