President Barack Obama, turning briefly to his eclipsed domestic agenda Thursday, called on the nation's businesses to make fresh investments in clean energy technology that lay a foundation for long-term American prosperity.
He proposed a new tax credit and other measures to encourage businesses to retrofit their plants and reduce costs — steps that he said would save $40 billion a year in utility bills.
First off, your average business owner/executive does this crazy shit. Economists call it a cost/benefit analysis. If the benefit outweighs the cost, the investment will be made. Apparently, that's a foreign concept for our president. I guess a liberal will only make an investment if he's getting a tax credit or an "attaboy" for it.
For a rational business owner, if an investment pays for itself, you won't have to wait for a tax credit to get it done.
For instance, yours truly, spent $4,500 a couple of years ago for foam insulation on a 108 year old house converted to an office. I didn't do it because I was trying to wean the world from fossil fuels, I did it because it saved me about $100 a month in utility costs.
The year before that, I invested $2000 in new windows for much the same reason.
I didn't need any Obama tax credits to do what was already in my economic interest, I simply did the math.
But then again, math, along with economics is yet another subject these Ivy Leaguers must have missed while getting those impressive degrees.