What are the implications of the Democrats’ electoral victory for the clean tech industry? That probably won’t become clear for a few more months. In the meantime, Red Herring, one of my favorite technology magazines, just published this short piece on the topic: “U.S. election a mixed bag for Cleantech”. The early conclusion of industry insiders interviewed for the article is the same as ours – namely that the defeat of Proposition 87 won’t be a signficant event in the long-run…and that the future looks overall bright. Happy reading!
If nothing else, in the new senate and congress, the oil and coal lobby probably will have less influence on policies. This is a great victory for alternative energy industries.
Yes, Nick, the influence of the oil & gas lobby will surely be diminished. But there were signs that the Republicans were moving in this direction…just think of California. My own view is that in the long run, this is a story that looks good fundamentally. While I would agree that the Democrats’ victory may accelerate the process, I think it would now take a lot to kill the momentum behind clean tech and alternative energy. Why is that? Because, to quote Jeff Immelt, “Green is [increasingly] green”. And I also expect clean tech entrepreneurs and investors to get their own heavy-duty lobbying going.