Wednesday, October 7, 2009

Could "Clean Tech" Be The Next Boom?

clipped from finance.yahoo.com
Our economy sure could use the Next Big Thing. Something on the scale of railroads, automobiles or the Internet -- the kind of breakthrough that emerges every so often and builds industries, generates jobs and mints fortunes
Silicon Valley investors are pointing to something called cleantech -- alternative energy, more efficient power distribution and new ways to store electricity, all with minimal impact to the environment -- as a candidate for the next boom.
The political and social climates are favorable. If it takes off, cleantech could seep into every part of the economy and our lives.
Some of the biggest booms first blossomed during recessions. The telephone and phonograph were developed during the depression of the 1870s.
Yet for all the benefits that might be spawned by cleantech breakthroughs, no one knows how many jobs might be created -- or how many old jobs might be cannibalized. It also remains to be seen whether Americans will clamor for any of its products.
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