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Goleta: It's not often you hear executives from the biggest US industries and a Republican governor clamouring for stronger regulations on climate change. But that's exactly what they want.
Without clear climate change policy, not only will manufacturing jobs be siphoned off to overseas rivals investing heavily in renewable energy sources, but US companies won't have any clear direction on where best to invest their money in new capital projects to keep in line with regulations, top executives said.
They criticised the US government sharply for failing to invest in new energy technologies.
They also blasted officials for neglecting to create aggressive energy efficiency standards and failing to extend tax subsidies for clean energy sources such as wind and solar - measures they say would create jobs for Americans.
"The entire chemical industry and manufacturing sector has lost 3.1 million jobs due to a lack of a coherent energy policy," Dow Chemical chief executive Andrew Liveris said. "We have a manufacturing crisis in this country... The leadership of this country needs to step up."
Robert Lukefahr, president of BP Alternative Energy North America added, "We don't know how to deploy capital when the rules change year on year."
Lack of regulations
To make up for the US government's lack of regulations on climate change, California Governor Arnold Schwarzenegger said his state had been forced to pursue its own aggressive environmental standards, some of which the US Environmental Protection Agency has denied.
"Why is the state of California creating it's own regulation? It's because Washington is not," Schwarzenegger said.
Improved energy efficiency standards for buildings and appliances; more research and development into biomass, clean coal and other technologies; and opening more US acreage to oil exploration would all help create jobs, Dow's Liveris said.
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