America's Green Policy Vacuum

It's been a year since Al Gore's packed theaters and won an Oscar. And a good year it has been for the green movement. Venture capital firms poured a record $2.6 billion into clean tech startups in the first three quarters of 2007. Meanwhile, the green buzz has only grown louder. This year, green building construction starts are projected to reach $12 billion. And both Senator Hillary Clinton and Senator Barack Obama have made a greener economy a key plank in their Presidential campaigns.

It's enough to make you believe an optimistic report that estimates the green economy could produce as many as 40 million jobs and $4.53 trillion in annual revenue by 2030. To put those numbers in perspective, consider this: In 2006, according to a November report commissioned by the American Solar Energy Society (hardly a disinterested body), companies in renewable energy and energy efficiency industries accounted for 8.5 million jobs and generated $970 billion in revenues. The report based that scenario on "aggressive, sustained public policies at the federal and state level during the next two decades." (It also included growth scenarios based on current government spending levels and on a moderate increase.)