If Rep. Alexandria Ocasio-Cortez is to be believed, she has the solution to all of United States’ environmental problems, the fallouts of which will have a direct bearing on the economy as well. The Green New Deal legislation, as the proposal has come to be known as aims to make the US carbon emission free in the next 10 years itself.
That might seem an almost impossible target to achieve though AOC, as she is known by her initials, has also laid down a series of goals which she believe will lead to the greater goal of making the US environmentally clean achievable. This, she believes will also create more jobs besides providing new impetus to the economy as well.
The most challenging aspect of the deal is to switch over to 100 percent clean and renewable energy source, with zero reliance on fossil fuels. That is easier said than done given the vast energy infrastructure already in place built around the fossil fuel.
Besides, the new legislation also calls for upgradation of the entire housing sector where houses will need to be made energy efficient. That apart, the legislation also proposes an extensive makeover for the entire transportation section.
That includes having fossil fuel cars replaced by electric powered ones while also setting up new charging stations to power the electric car fleet. That is not all as the legislations also calls for setting up of high-speed railway network to dissuade travellers from opting for air travel.
Needless to say such grand plans may seem fine but is almost impossible to achieve over a then year period. And much of that has to do with the economic ramifications of it given that implementation of the plan would require investments of tens of billions of dollars while it could be years before those reap positive returns.
No wonder that also is the reason many are sceptical of the plan even if what it proposes is agreeable to most.