Every year there is an election the Parties come up with a way to fight the deficit and one of those techniques is an Industrial policy for long term growth. Can you guess what it is in this election cycle? Sure you can, just think about it. Want another clue? It is the policy that the government will use as a direct role in the influencing the development of a specific industry that they see as needed for long term growth.

Time is up—Green Industries. Each candidate has had some form of grand plan to stimulate the economy and provide long term growth package built around green industries. Regardless of which of the two parties we are talking about the techniques employed will be the same. These are tax incentives, direct assistance, research support or other forms of subsidies. Any of this sound familiar?

Obama has promised to throw his weight behind green technology to stimulate the economy and bring back those jobs that have left the country for overseas. McCain has also thumped his chest with promises of green jobs and technology. Both candidates are linking the institution of green jobs with other forms of long term growth.

Both of the major candidates are putting all their apples in the green technology cart. Personally, on one hand I think it is about time that the government got involved with the seriousness it deserves on the protection of the environment and if jobs come along with it, so much the better. On the other hand, I see this falling by the way side once the election is over and we have our new president. Makes me think of the idea Clinton had back in 1993, when the government entering into a joint effort with the major American automakers, to develop a low energy car…..that attempt was pretty much a bust and wasted time and money.

Another problem that I foresee is the industry itself, the government does not have a crystal ball on which sector of green technology will be the most successful. There is another problem, industries chase profit and if there is no profit then the program will shut down. Then it brings the problem of what ifs. This push for green technology can also waste much needed resources that could be spent on the crumbling infrastructure.

Green is good….but at what cost?