Market best place for green development?

Aug. 15, 2011 at 8:39 AM

HOUSTON, Aug. 15 (UPI) -- Republican lawmakers support efforts to create a greener economy but not through a subsidized effort, a leader in the U.S. House of Representatives said.

U.S. President Barak Obama during a January address to the nation called for a greener economy through renewable energy programs. His administration has designated almost $30 billion in government aid to advance that effort, though several programs under the 2009 stimulus package are expiring.

House Majority Leader Eric Cantor, R-Va., told the Platts news service that government subsidized programs for green energy weren't the best way to advance a cleaner economy in the United States, however.

"All of us would encourage more environmentally friendly efforts but it is the markets who understand where capital can best be invested," he said during a meeting with public officials in Texas.

Republican leaders are calling for smaller government during a slow economic recovery. Cantor said that in terms of sluggish employment gains in the United States, while stimulus efforts have led to more jobs, they aren't permanent positions.

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