Will this presidential election be the most important in American history?
GE CEO Jeff Immelt has been appointed by executive order to the President’s Council on Jobs and Competitiveness.
Obama says the Council should:
“…focus its work on finding new ways to encourage the private sector to hire and invest in American competitiveness.”
Immelt was a member of Obama’s Economic Recovery Advisory Board, which will be replaced by the new Council, and he is a frequent White House visitor and travel partner – Immelt joined Obama on a recent trip to India.
But their relationship is not social; it’s based on a common goal – renewable energy.
Obama wants to build a “green economy” where energy is derived from renewable energy sources such as wind turbines and solar panels, while Immelt has a vested interest in selling GE’s renewal energy technologies. GE is one of the largest producers of renewable energy products.
Unfortunately, Obama and Immelt don’t want the free market to decide the fate of renewable energy – they prefer the strong arm of government to mandate the use of alternative energy.
That’s why Immelt was one of the most aggressive supporters of Obama’s cap-and-trade energy policy.
Don’t be surprised if the President’s Council on Jobs and Competitiveness recommends a renewable energy standard that mandates a certain percentage of electricity be derived from green technologies or another cap-and-tax on fossil fuels.