South Korea Lauches Green Growth Plan

What I fail to understand is why the USA cannot get its head around the simple idea represented by the present actions of South Korea. We clearly need a major expansion of grid energy and the related creation of a continental high power grid system. All of it is suitable for twenty year finance paper and government guarantees to bring in a low interest rate. Done this way, it would cost the taxpayers nothing. Do you think Korea is spending taxpayer’s money?

Adding 2% to the national GDP product would be very welcome over the next five years. It would build thousands of wind mills and perhaps dozens of geothermal plants. I would skip the nuclear and solar does not need the terms because it is building out quickly anyway. Solar thermal plants may need those terms.

Our manufacturing would swiftly recover and even the auto industry would be quickly back to work.

Instead we have band aids to banks unable to lend at all and nationalization for unions who want to discover why British Leyland was such a good deal.

We have two domestic problems to solve over the next five years. We must transition out of the oil industry by at least fifty percent by replacing it with domestic alternatives and we need to provide for a national grid with a huge build out of static power. Those are positive problems that are solved by financing expansion. There is no money in buying houses while letting the banks destroy their customers. Yes it is that crazy.

Do you see any sign that these mutts have got it at all? Send this post to your congressman.

S Korea unveils massive plan for green growth

by Staff WritersSeoul (AFP) July 6, 2009

South Korea Monday unveiled an 84 billion dollar five-year plan to develop environmentally friendly industries and use them as a growth engine for the wider economy.

The plan, approved at a meeting chaired by President Lee Myung-Bak, aims to transform South Korea into one of the world's seven strongest nations in terms of energy efficiency and green technology investment by 2020.

The government will invest 107 trillion (84.4 billion dollars), or 2.0 percent of gross domestic product every year, over the next five years in an effort to reduce reliance on fossil fuels, Lee's office said.

The scheme will help create up to 1.81 million new jobs and generate about 206 trillion won in economic output, it said.

The government will also boost spending on green technology products such as solar-powered batteries and hybrid vehicles, it said.

Lee called for the public to rally behind the plan.

"Because it will have a great impact on the daily lives of the citizens, I believe every citizen must also participate in the move" towards a greener society, he said.

Asia's fourth largest economy earlier announced a set of measures to reduce greenhouse-gas emissions.

They include creating energy-saving versions of products such as personal computers and displays as well as developing energy-efficient IT service networks including high-speed Internet.

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