Venture capitalist John Doerr, the Silicon Valley visionary, is predicting green technology will be the largest economic opportunity of the 21st century. He's not saying this because he's a tree-hugging environmentalist. He's saying this because he's a hard-nosed capitalist.
The need to reduce global warming and end our dependence on expensive foreign oil is pushing the development of home-grown renewable energy sources to breakneck speed. Government policies like the federal production tax credit for renewable energy and oncoming likelihood of federal carbon regulation, which I should note the presidential contenders support, are helping speed the industry's growth. The old theory that anything that benefits the environment must somehow hurt economic growth is quickly becoming ancient history.
Venture capitalists, bankers and entrepreneurs realize that being green can earn them some green, There will be literally trillions of dollars invested into the energy sector over the next few decades, and I want Michigan to capitalize on that green revolution. It will mean tens of thousands of jobs for Michigan workers.
Michigan is uniquely positioned to prosper economically from the renewable energy boom. Our untapped Wind resources offer us an almost unlimited source of clean, zero-carbon electricity. Our productive farm and forest land can be put to use to grow the fuels of the future. Our universities and corporate research centers are becoming world leaders in alternative energy science. And our manufacturing know-how can build the components of the green energy economy.
This opportunity couldn't come at a better time. It is absolutely critical that we diversify Michigan's economy, and we have the ability to do so by leveraging the great W's-wind, wood, water, workforce, wheels, and even waste.
Consider these facts: The unique geography of our peninsulas...