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Government Investment in Green to Create New Jobs

The U.S. Government is looking into investing $100 billion throughout the next two years, an effort that could result in the creation of 2 million new jobs.

The new positions would be green jobs found mostly in the steel and construction industries, according to an article by Reuters. It is expected the retrofitting of old, energy in-efficient buildings would create jobs for steelworkers, glassmakers and those who manufacture heating and cooling systems.

Recently, in an effort to invest in more wind power, two U.S. steel mills have already reopened to make steel plates for windmills.

It is noted $50 billion of the investment would be in the form of tax credits to help private businesses and homeowners make their buildings more energy efficient; $46 billion in the form of direct government spending on retrofitting buildings, expanding mass transit and freight rail, making smart electrical grids and new investment in renewable energy and $4 billion in federal loan guarantees.

"Many of the new jobs would be in construction, where some 800,000 jobs have been lost in the last two years, according to Robert Pollin of the G," the article notes.

Such an investment by the government would help surge the current declining economy, as well as help Americans emit less carbon dioxide, which contributes to global warming. It is estimated the investment would create four times more jobs than if the funds were given to the oil industry, and 20 percent more jobs than if the funds were spent on household consumption.

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