Obama's Opportunity

On March 4th, 1933 Franklin Delano Roosevelt assumed the presidency with a bold plan to face the Great Depression not with cowardice, but with fierce aggression. At the time, the country was at its lowest point. A psychological depression was every bit as prevalent as an economic one, the feeling that life was only bound to get worse was widespread. In his first inauguration speech, Franklin Delano Roosevelt framed his entire presidency with the phrase “the only thing we have to fear is fear itself”. This declaration spurred a new confidence in the American people and a new awareness that no problem is insurmountable. The New Deal, FDR’s series of initiatives to breathe new life into the economy was his answer to the crisis. For eight years, economic conditions had peaks and valleys as the government desperately tried to invigorate the market, but for all of its bona fide efforts it was unable to tow the country out of the slump.

However, on December 7, 1941 the national situation changed as the Japanese attacked Pearl Harbor and the United States was thrust into war. The country, previously opposed to any involvement in the ongoing world war suddenly had a very real, tangible enemy. In response, war was declared and FDR used existing industries to provide the tools necessary to fight. This was when the depression ended; everyone who wanted a job could acquire one in a factory. The Japanese attack provided the United States with a tangible enemy, a goal, a reason and the motivation to act, a feeling that was lacking throughout the depression. It was only when this happened that the United States finally emerged from melancholy. The tragic legacy of Pearl Harbor is one of unnecessary loss of innocent life, but it is also one of the reasons for the United States emerging from the depression, winning the war, and becoming a global superpower.

President Obama has a similar opportunity to not only revitalize the economy, but once again place the United States firmly ahead of its competitors. So far, the Obama Administration has responded akin to the Roosevelt Administration in its approach to solve the economic crisis: providing capital to stimulate the economy. While this strategy may improve the economic conditions slightly, it doesn’t have the same clear benefits as when there is a strong sense of urgency like after Pearl Harbor. Obama’s opportunity to strengthen the country comes from oil: oil is the enemy. If the President can better frame oil as a threat to the environment, and our national security, while at the same time offering clear alternatives to invest in, this will place the United States at the helm of a 21st Century global market. The current "Gulf Oil Spill" is a keen example of the destructiveness of oil on the environment and should be referenced in the argument for green energy. If the United States is able to reduce its usage of oil, the rest of the world will slowly, but ultimately follow. If the United States continues to purchase less and less oil, it wouldn’t be valued as much. In sequence, if the country invests strongly in green industries, it will have a new bargaining chip that few countries have and will put the United States in a position to not only get out of the current economic crisis, but become the global merchant of green energy.

Update:

In the weekly presidential address on July 3 (broadcast two days after this article was posted) President Obama discusses exactly what I was suggesting.