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Published: Monday 29 July, 2013

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President Barack Obamas ambitious energy playbook, a diverse coalition representing more than 850,000 Canadians is calling on the federal government to work with provinces to create a $41 billion green stimulus package.

The proposed fiveyear Green Energy Action Fund would be a combination of loans and direct spending, funded largely by the creation of green bonds and from government revenues raised through the auction of carbon capandtrade credits to industry.

The coalition, led by a group called PowerUP Canada, hopes to see its recommendations reflected in next Tuesdays federal budget. It has enlisted the support of four former prime ministers with an aim to more closely align the countrys energy and jobcreation policies with those of the Obama administration. I think Obamas plans beg the question of whether Canada will be left behind, PowerUP executive director Tzeporah Berman said.

Under the coalitions plan, $18.6 billion Canadian in lowinterest loans would be created to ease the credit crunch affecting renewable energy developers, spur energy retrofits of buildings, support green infrastructure projects and boost investment in clean technology manufacturing all with an eye to creating jobs.

Loans would also be extended to homeowners and businesses to help with the purchase of smallscale renewable energy technologies and efficiency retrofits.

Another $22.7 billion would be for direct spending on public transit, green public housing or building projects, and expansion of federal incentives for the purchase of energyefficient appliances, vehicles and other green technologies.

This could be an important part of an overall strategy to help Canadians cope with todays financial and economic crisis, said Ken Neumann, national director for the United Steelworkers in Canada. The plan also has support from the Forest Products Association of Canada and the National Union of Public and General Employees.

At a wind turbine parts plant in Ohio last week, Obama made clear that investment in energy efficiency and green energy is central to his economic stimu factory outlet michael kors lus plan.

Im told that if we dont act now, because of the economic downturn, half of the wind projects planed for 2009 could wind up being abandoned, he said. homes, and modernizing more than 75 per cent of federal buildings so theyll use less energy. roads within six years, as well as double automobile efficiency by 2025 by increasing fuel economy standards for vehicles by 4 per cent each year.

He also wants to eliminate all oil imports from the Middle East and Venezuela within 10 years. House of Representatives, who last we factory outlet michael kors ek introduced an $825 billion economic stimulus bill.

Nearly 7 per cent, or $54 billion, has been allocated to energy efficiency, renewable energy and clean technology spending aimed at creating millions of greencollar jobs.

In Canada, Tuesdays budget is expected to include economic stimulus measures in the form of both tax cuts and infrastructure spending.

Its unclear whether there will be funding specifically designated for green projects and tec factory outlet michael kors hnologies, or mechanisms such as green bonds to raise money for lowcost loans.

Beyond stimulus spending, however, the Harper government has made clear in recent weeks that it wants to work closely with the Obama administration on carbon capture and storage technologies, and on greater integration of each countrys electricity grids.

The Conservatives are also seeking a common North American carbon capandtrade system, which sets limits on the amount of greenhouse gases that can be emitted by industry, and they want common targets for renewable power and fuelefficiency standards.

Yesterday, Environment Minister Jim Prentice downplayed the nearterm role that renewableenergy and smart grid investments can play. A top priority for Harpers government is to convince the Obama administration that it needs oil from Canadas tar sands, and that tough environmental standards that discriminate against dirty oil could hurt both countries. factory outlet michael kors

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