Posted: Jan 25, 2012 6:19 PM by Ophelia Young
Updated: Jan 25, 2012 6:26 PM
Last night in his State of the Union speech, President Obama called for an end to oil subsidies, urging lawmakers to instead pass tax credits to benefit the renewable energy industry. He said that green energy is clean, reduces dependence on foreign oil, and stimulates jobs and manufacturing at home.
Here in Colorado, local owners businesses we intereviewed agree with the President. Lotus, the President/Owner of Rocky Mountain Solar & Wind, says that his business has experienced immense growth in recent years, turning from a small business into a million dollar operation. Demand for clean energy, a need for domestic manufacturing jobs, and tax incentives from the federal government have spurred an increase in the renewable energy industry in across the nation.
They say the change will level out the playing field. Right now, green energy experts believe they are losing against China and against larger oil and gas industries. The move, they say will bring businesses back home and, in turn, spur more investment in renewable energy.