Green technology is the answer to the increasing cost of energy

When people are talking about the benefits of Renewable (Green) Energy, it is important to consider the real costs of our country’s current energy policy, and the associated unprecedented transfer of wealth.

The United States total annualized net import of oil in 2008 was 11,114,000 barrels per day. That roughly represents $1 billion per day leaving our country and our economy, never to return, never to recycle through our economy, and certainly never to create any jobs here. Put another way, a family of four sends approximately $400 per month to foreign crude oil suppliers for these privileges.

The real cost of gasoline purchased at the pump is roughly $6 to $7 per gallon, and will continue to rise. This price is further complicated by the fact that crude oil prices on the world market are very volatile: January 2009, $40.98 per barrel; January 2010, $78.63; July 2008, $136.32. These are just the hard costs and do not consider the opportunity and human costs associated with having so many of our men and women stationed near the world’s major source of oil.

These facts are alarming when planning our country’s future. Long term energy solutions cannot be based solely on current energy prices if tomorrow’s price can be substantially different than today’s, especially when this country only has about a third the resource we use. My partner, Jack Scott, and I, have considered these facts and committed a substantial amount of private capital to create a company that will become a commercialization engine for technologies that address these concerns. We will not allow this community to continue to miss opportunities in current and future technology trends. This area has the workforce, the training facilities, and the industrial infrastructure required to pursue these opportunities.

It is important to realize that our investment was influenced by local resources such as the STEM curriculum and Centers of Excellence at Youngstown State University, the workforce training programs and advanced energy curriculum of Kent State University’s Trumbull campus, the curriculum of the newly created Eastern Gateway Community College, the curriculums at the Career and Technical Centers, the IBEW wind and solar training center facility in Trumbull County and the Warren Clean Energy Incubator. All of these programs continue to receive a deep level of commitment from U.S. Rep. Tim Ryan. This support is exactly what federal funding is intended to create — private investment, by private companies that will create jobs in the community, and ultimately lead to wealth creation which will improve the quality of life for all its citizens and ultimately create a larger tax base that will effectively repay this funding many times over.

When thinking through the benefits associated with a renewable energy policy, please consider all the facts. We cannot continue to emit pollution in to our environment and act like all that matters is the generation cost of the power. And, we cannot expect to find the solutions without making the investments today. If we don’t invest in a sustainable energy future, we will not have the capital to spend on anything else, and we will be dependent on whoever sells us our energy.

And, who is to say that the associated industry and jobs will not be located in Youngstown, and Warren? Not us.

Michael S. Garvey, Youngstown

The writer is owner of M7 Technologies of Youngstown. His partner in Ohio Clean Technologies Group, Jack Scott, is president of Applied Systems and Technology Transfer (AST2) of Salt Lake City,