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October 26, 2019 06:34 pm

Does The Green Economy Create More Jobs Than The Fossil Fuel Industry?

"Whereas the fossil fuel industry employs about 900,000 people in the U.S., green economy jobs -- those associated with non-oil energy -- number about 9.5 million," writes long-time Slashdot reader DavidHumus, citing a new study by two researchers at University College London. On Ars Technica the study's authors shared their analysis of America's emerging green economy:According to new data, by 2016 it was generating more than $1.3 trillion in annual revenue and employed approximately 9.5 million people -- making it the largest green market in the world. It has been growing rapidly, too -- between 2013 and 2016, both the industry's value and employment figures grew by 20%... Our study estimates that revenue in the global green economy was $7.87 trillion in 2016. At $1.3 trillion, the U.S. made up 16.5% of the global market -- the largest in the world. Our analysis also suggests that in the U.S., nearly ten times more people were employed in the green economy and its supply chains (9.5 million) than employed directly in the fossil fuel industry (roughly 1 million) -- that is, miners, electricity grid workers, infrastructure manufacturers, and construction workers. This wide gap comes despite the U.S. fossil fuel industry receiving huge subsidies, estimated at $649 billion in 2015 alone.

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