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Print Edition StoriesFriday, June 12, 2009
Policy Tracker
Markey predicts U.S. economy will rebound soon
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Staking the future of the U.S. economy on clean technology, U.S. Rep. Edward Markey relied on a familiar analogy to sound a note of optimism amid economic gloom.
“The reality is, America’s economy is in a David Ortiz-like slump,” he said, referring to the Red Sox slugger mired in career-worst hitting woes. “I have faith that David Ortiz and the American economy will be hitting home runs again.”
Markey, speaking to the Greater Boston Chamber of Commerce at the posh Wharf Room at the Boston Harbor Hotel, predicted a “Boston-area business boom” would arise from a national push he is leading to create a market for clean energy technology. A proposal he is co-sponsoring with U.S. Rep. Henry Waxman would invest $190 billion in clean tech, he said, and Massachusetts would be poised to draw a large share, he said. Markey, just returning from a trip to China and Alaska with U.S. House Speaker Nancy Pelosi, said America and China have been “each using the other as the excuse for doing nothing” on the environment. “The debate over whether or not the planet is warming and whether we are causing the problem no longer exists,” he said.
Markey’s bill would set long-term caps on energy emissions for the country. The bill includes “protection” for manufacturing jobs facing international competition. It also allocates between $300 million and $500 million to retrain workers for an anticipated wave of green jobs.
Asked by an audience member about local solar power company Evergreen Solar Inc.’s interest in an overseas plant, Markey said he had spoken with heads of that company and others. He said the company would be interested in expanding in the United States but, “they want the market to be created.” He said his bill would help create that market. Markey added that his bill would support a “loan guarantee program” to support nuclear power companies. “Even as we’re going forward and nuclear is in the game again, there is a race on with wind and solar,” he said.
— State House News Service
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