Hooray! I finally found some evidence for the idea that regulatory uncertainty is hindering investment and economic recovery in the U.S. So I stand totally corrected on this:
Alternative energy investment prospects have shriveled in the United States after the U.S. Senate was unable to break a deadlock over tackling global warming, a Deutsche Bank official said. “You just throw your hands up and say … we’re going to take our money elsewhere,” said Kevin Parker in an interview with Reuters.
….Parker, who is global head of the Frankfurt-based bank’s Deutsche Asset Management Division, oversees nearly $700 billion in funds that devote $6 billion to $7 billion to climate change products. Amid so much political uncertainty in the United States, Parker said Deutsche Bank will focus its “green” investment dollars more and more on opportunities in China and Western Europe, where it sees governments providing a more positive environment.
Oh wait. This is regulatory uncertainty caused by Republicans. And it’s investment by foreigners. So it probably doesn’t count. Forget I said anything.