Much like countries are doing in Europe, many states will have to implement austerity measures to shrink budget deficits. Some analysts believe that the measures could shave off one full percentage point off of GDP.
Fessler thinks the solution lies in “industries that can truly create new jobs.” In particular, he writes about “developing areas like wind power, increasing solar installation, manufacturing more electric cars and shifting towards natural gas as a transitional fuel for cars.” [The Fate of Alternative Energy ETFs.]
Whether the United States can get its finances back on track is something we all need to be supremely concerned about.
For more information on the alternative energy industry, visit our alternative energy category.
- PowerShares WilderHill Clean Energy (NYSEArca: PBW)
- PowerShares Global Clean Energy (NYSEArca: PBD)
- First Trust NASDAQ Clean Edge Green Energy (NYSEArca: QCLN)
- iShares S&P Global Clean Energy Index (NYSEArca: ICLN)
- Market Vectors Global Alternative Energy Fund (NYSEArca: GEX)
- Claymore/MAC Global Solar (NYSEArca: TAN)
- Market Vectors Solar Energy ETF (NYSEArca: KWT)
- First Trust Global Wind Energy (NYSEArca: FAN)
- PowerShares Global Wind Energy (NYSEArca: PWND)
Sumin Kim contributed to this article.