Obama Administration expected to announce $4 billion in renewable energy investment

The Obama Administration is expected to announce later today that they will pursue $4 billion in investments for “green” energy sources, using money pulled from a diverse set of donors, ranging from the Sierra Club and other environmental groups, to corporate giants like Goldman Sachs.

The details will become available with the formal announcement, but unfortunately we can’t use the Obama Administration’s past performance as a reliable predictor.

President Obama is perhaps the most environmentally active President we’ve had, but he has not been the most consistent in his dealings on environmental issues. Though he attended the summit on climate change in Beijing last November, where he and Chinese President Xi Jinping announced that our two countries would work to curb our emissions over the next 10-15 years, President Obama needed some serious prodding before he vetoed the controversial Keystone XL pipeline in February, having been in favor of Keystone shortly after his re-election.

Recent events tell us that President Obama’s change of heart on Keystone XL is no guarantee that he is firmly in the environmental protection camp. After all, on the same day that he was lauded by the Sierra Club for committing to tackle climate change, his Department of the Interior was also criticized for allowing offshore drilling in a susceptible part of the Arctic.

What President Obama’s “environmental legacy” will be is anyone’s guess–we’ll have to tally up the pros and cons when he leaves office and let history decide.

Read more on this story here.

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