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Green Regulation?

Thomas Friedman, Green Regulation, Cap and Trade, Tom Friedman

This past Monday, Tom Friedman proposed the need for regulation of the emerging green technology sector to foster growth. Friedman, a noted New York Times columnist, believes that the next great industrial revolution is upon us and that revolution is in renewable energies. This sector though is widely unregulated according to Friedman and guidance from Washington must come quickly.

Friedman believes that as we begin to re-regulate the banking system, we should turn our attention next to the green sector. If smart regulation occurs in the energy sector, the United States possesses the opportunity to once again lead the world in an emerging technology To further this goal Washington must create carrots and stick to alter the balance of energy companies portfolios. Dirtier and cheaper energy sources must become less attractive while incentives attach to adoption of renewable sources.

The state of energy sector in the United States is much the same as a space ship. "In our case, the booster rocket, Washington, D.C., is cracked, and the pilots are fighting over a flight plan," Friedman said.