Word: researchers
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Dates: during 2000-2009
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That's why critics don't think the program was worth the effort, questioning if niche industries like boats and RVs deserve the same financing aid as the auto industry. Dean Baker, co-director of the Center for Economic Policy and Research said that although the financing program leaves some of the risk on the lenders, (only 75% is guaranteed by the SBA, not the maximum 90%) it's hard to see what the Administration's goal is and how effective the plan will be over time. "The question is, what exactly do we hope to do with subsidizing this...
...according to many energy experts - including Steven Chu, Obama's Nobel Prize-winning Energy Secretary - the science isn't there yet. Significant basic research and development needs to happen before renewables can truly displace fossil fuels. And unlike at the time of the first Apollo project, the U.S. seems far from ready to spend the money needed to create long-term solutions to global warming - which risks the country falling behind in this new scientific race toward a clean-energy economy. "If we are serious about delivering the real technological change needed to really reduce emissions, we need to scale...
...Much of that research would be done under the auspices of the Department of Energy, but Secretary Chu has seen his requests for more funding rebuffed by Congress. Chu wants to spend $280 million to create eight new research-and-development labs, staffed by scientists from a variety of areas, to work on clean-energy solutions. Called "energy innovation hubs," they would be patterned after AT&T Bell Laboratories, the famed research centers where Chu did much of the work that won him a Nobel Prize in Physics. Each hub would have a different energy focus, but scientists from different...
...last month and will soon be taken up by the Senate. The legislative fight has mostly centered on how tight the carbon caps should be, but part of the revenues created by the cap - which would require some companies to pay for carbon credits - will be directed to energy research and development...
...trade was revised in Congress, though, that number has dwindled - the current bill would channel perhaps about $10 billion a year to energy research in its early stages - but not solely for clean energy. By contrast, on the campaign trail Obama promised to spend $150 billion over 10 years just on clean-energy research. On July 16, an assortment of 34 Nobel Prize winners wrote a letter to Obama, calling for more support for energy research and development in the climate bill. "We need a much larger investment than what we're getting," says Jesse Jenkins, director of energy...