5 Myths About Earth-Friendly Energy

Last year, Americans spent more greenbacks on oil than any other nation — about $517 billion, according to the Energy Information Administration. But we’ve failed to lead in developing green energy, and that’s going to cost us even more.

Historically, we’ve treated renewable energy and energy efficiency as virtuous, feel-good projects rather than shrewd investments in the industries of the future. It shows: We now trail China and Germany in renewable-power production and lag behind Japan and most of Europe in energy productivity. Worse, we may be missing out on the green gold rush of the century: The market for green energy is set to quadruple in the next eight years, according to the research firm Clean Edge.
Of course, the United States can catch up (and reduce smog, carbon dioxide emissions and geopolitical hassles while we’re at it), but we’ll need to start treating green energy as a source of jobs, cash and national influence. That means supporting it like a real energy industry — with a vigorous mix of diplomacy, laws and incentives — and dispelling some key myths.

1. “Green energy” is better at sponging up subsidies than creating jobs.

2. There are no gushers left in the United States, so we have to look overseas for energy.

3. “Green power” can’t deliver the volume of energy we need.

4. Americans are comfortable paying more than $3 for gas. (Otherwise, we’d leave that SUV in the garage.)

5. The stock market rewards companies that use energy efficiently and punishes those that don’t.

Washington Post