Opening of Carbon-Based Energy Sector of Reed and Markey Providing Many Jobs

The opinions of Chairman of the Select Committee on Energy Independence and Global Warming, Rep. Edward Markey, and Chariman of the Federal Communications Commission from the years 1993 to 1997, Reed Hundt, is that plug-in vehicles (PHVs) are one of the three main factors that could have a great deal to do with revitalizing the economy and providing millions of jobs for the United States.

There is nothing that can provide innovative technology into the energy power sector more than electric vehicles, solar farms that involve a better means of being able to capture and convert the sunlight into the electricity that is needed, and wind farms that use a better means of technology in the storing of electricity.

The ‘market-opening Telecommunications Act of 1996’ is where Reed and Markey draw their inspiration from. They strongly believe that the bill the House passed in June called Waxman-Markey bill, is the exact type of law that can provide today’s society with carbon-based energy, much like what was provided in the middle 90’s with the Telecommunications Act. That is, to provide encouragement for “private investment in a 21st century energy economy built on alternatives such as wind, sun, biomass and geothermal.” When the old type networks were literally replaced then, and how they should be replaced both literally and figuratively at this time, with systems that are green and clean, the stimulation of the economy will occur because of the flowing of billions of dollars.

At this time, Americans worry more over job opportunities. Individuals that are without are scrambling to find a job, and individuals with a job are petrified that they will lose it. What needs to occur is the passing of laws that will help to promote new industries, which in turn will provide numerous job openings for a countless number of Americans.

With the predictions that have been made that the full work force will not return at full force for at least 5 more years, should be incentive enough to act just as aggressively as occurred in the 90’s, when society faced an economic slump.

When the spectrum auction authority was enacted by Congress in 1993, and the Telecommunications Act of 1996 that opened the market, the intentions were to provide individuals with new, higher paying jobs in the industry of communications. It resulted in a huge achievement.

A result, according to McKinsey and Company, that ultimately provided the economy between the years 1997 and 2007, with $850 billion in new capital that was obtained through data, mobile, and expanded cable networks all throughout the United States. During this time, as much as 65% of society was employed and at the end of the 90’s the unemployment rate fell to a low 4%.

When you compare these numbers with society as a whole in today’s time, there is a drastic difference that has affected millions of people and their families. There is only 58% of society that is employed, and the unemployment rate is at a high of 9.7%.

If a law were to be passed that would re-tool the energy sector that is carbon-based, and the encouragement of private investment were to take place, we could benefit from a much higher level of jobs opening up in the job market, AND benefit from a significantly higher amount of money flowing through the economy.