Ok, wow. Just wow. The whole world is watching, we’re excited and sort of waiting to see what happens next.
So, let’s hope that even half of Obama’s energy plans are carried out. His recent comments on science and technical development are a good sign, here’s an article I liked – “So Obama is President… Now What? Here Are Some Investment Ideas…“. It breaks down the industry sectors that are likely to do well with Obama as President, and specifically identifies renewable energy as one. Cool stuff.
In other election good news, it looks like Ballot Proposition 7 didn’t pass in California. Prop 7 required increases in renewable energy uptake by utilities and spelled out some guarantees – but was opposed on the basis that it was so complex and had so many in-built faults that it was guaranteed to fail. It’s goals were worthy enough, increase California utility Renewable portfolios by 2% a year, but it was so fundamentally broken, and with so many bad additions, clauses and exclusions that it was basically going to hurt the industry.
This was a weird one where environmentalists and big electrical utilities teamed up to try to stop it. The “Yes on Prop 7” people a pretty flashy website, and some really slick commercials, with the “Yes on Prop 7” groups being funded by the two guys who wrote most of the law. Most analysts agree that it was well intentioned and just basically badly written, and written to favour a specific type Concentrated Solar Thermal technology (that happens to be produced by the people that wrote most of the law). Also, it would had inadvertently protected the natural gas industry since the price of renewables would have ended up tied to natural gas the way the law was written. Still, even the “No on Prop 7” people seem to think it was well intentioned incompetence rather than an attempt to get a broken law into place for some nefarious end. (The NO camp doesn’t have cool adds for me to link to.)
So, back to the drawing board, and this time with a good proposition.