The Great Depression was the worst economic crisis the United States has ever faced. During the summer of 1929, a difference between consumer spending and the amount of available products, compounded by hyper-inflated stock prices, resulted in the historic October 24, 1929 stock market crash. Stock prices tanked, leaving millions of investors penniless, reducing production rates, causing nationwide layoffs, increased debts, and ever increasing numbers of foreclosures and repossessions. Chaos reigned as rioters stampeded and smashed grocery buildings in the desperate search for food, as thousands of unemployed workers revolted and protested. Industrial production rates during this decline nearly halved, and the nation's GDP fell nearly 30%.
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The world has hit peak oil, and as prices continue to skyrocket supply for the dwindling fossil fuels can only drop. The higher prices raise the domestic cost for energy, wreaking havoc upon the lives of American citizens as they struggle to provide heating, cooling, and electricity for their families and loved ones. Thousands of families this year will be unable to heat their homes through the harsh winter, and hundreds of thousands more will be forced to lower their daily electricity outputs to even begin to pay for new absorbent energy rates. An immediate decision must be made in this committee to address this dramatic increase in energy prices, while providing and instituting new cost-effective measures of energy production. to support the move toward an energy independent …show more content…
Before the announcement of peak oil, clean energy was found to require less than 2% of the United States’ land mass, and save the average American over $3,400 per year over fossil fuels. The initial installation cost of new generators would constitute the only major cost for the switch to clean energy, with only minor costs required after for typical maintenance and repairs. The economic benefits of saving of over $730 billion a year from climate-related costs alone would more than justify and pay for the installation of clean energy generators. The United States has already dedicated trillions of dollars into renewable energy production,which has the possibility to create thousands of new American jobs, and revitalize the American
The world has hit peak oil, and as prices continue to skyrocket supply for the dwindling fossil fuels can only drop. The higher prices raise the domestic cost for energy, wreaking havoc upon the lives of American citizens as they struggle to provide heating, cooling, and electricity for their families and loved ones. Thousands of families this year will be unable to heat their homes through the harsh winter, and hundreds of thousands more will be forced to lower their daily electricity outputs to even begin to pay for new absorbent energy rates. An immediate decision must be made in this committee to address this dramatic increase in energy prices, while providing and instituting new cost-effective measures of energy production. to support the move toward an energy independent …show more content…
Before the announcement of peak oil, clean energy was found to require less than 2% of the United States’ land mass, and save the average American over $3,400 per year over fossil fuels. The initial installation cost of new generators would constitute the only major cost for the switch to clean energy, with only minor costs required after for typical maintenance and repairs. The economic benefits of saving of over $730 billion a year from climate-related costs alone would more than justify and pay for the installation of clean energy generators. The United States has already dedicated trillions of dollars into renewable energy production,which has the possibility to create thousands of new American jobs, and revitalize the American