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No, what it has done is opened-up a whole new field of energy jobs that have a more steady stream of income. You may or may not know, most oil rig workers are payed based on the price of oil, so when oil dips so do the checks of the workers. Alternative energy jobs bring in seady incomes, or the same amount every check. Many oil rig workers are flocking to these jobs.
That was the promise. This is the reality.
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Clean tech has seen a boost as the U.S. pours government funding into renewable energy, and China looks set to reap much of the benefits. Latest example: a Chinese wind-turbine company has just become the exclusive supplier for one of the largest wind-farm developments in the U.S.
The Shenyang Power Group has signed on to supply 240 of its massive 2.5-megawatt wind turbines to a 36,000-acre development in West Texas. The Wall Street Journal reports that the wind farm is also slated to receive $1.5 billion in financing from the Export-Import Bank of China.
Technology, Jeremy Hsu, energy, environment, renewable energy, Shenyang, wind farms, wind power, wind turbines
This comes as the U.S. has increasingly out-sourced much of its wind turbine development. Less than a quarter of wind turbine components installed in the U.S. came from domestic production, and Europe currently holds the lion's share of turbine manufacturing. A Norwegian firm launched the world's first full-scale floating wind turbine this September.
As a reflection of this, just 15 percent of the 2,800 new jobs from the new wind-turbine development will take the form of U.S. jobs. The U.S. government has tried to help the nation's renewable energy industry with $500 million in grants -- but it will likely take a while for U.S. wind power manufacturers to play catch-up after struggling with an uneven market.....