Investing in technology could reduce carbon emissions, encourage job creation and grow the US economy - so what's stopping us? Asks Paul Dickinson…Last week the US government launched its latest GDP figures showing the grim reality that US economic growth has slowed. Couple this with the recently concluded negotiations in DC about raising the debt ceiling and S&P's decision to downgrade the US's credit rating and it's not surprising that there is a negative cloud hanging over any reference to the economy.
There is another troubling trend: rising carbon emissions. The International Energy Agency (IEA) showed that carbon emissions grew to the highest output in history in 2010. In addition, competition for natural resources is growing fiercer by the day. According to the IEA, on average oil demand in India and China is projected to grow by over 20 million barrels a day by 2030, equivalent to using the entire US strategic oil reserves in just one month.