Obama Plans To Double U.S. Alternative Energy Output In 3 Years
During a speech in Virginia, President-Elect Barack Obama vowed to double the output of alternative energy, from wind, solar and geothermal power, in the U.S. during the next three years, as part of his economic stimulus package. Not only will this help the U.S. reduce its dependency on foreign oil, but it can also help create much needed jobs in the country. The country's economic crisis has slowed down advances in the alternative energy industry recently, but Obama plans to help revive the industry by providing government loans to companies. However, Rex Tillerson, CEO of Exxon Mobil, doubts that this goal is achievable in three years and told reporters that the U.S. does not currently have the capacity for the increased production that would be needed.