US economic recovery requires new industrial policy - Liveris

15 June 2009 21:34  [Source: ICIS news]

HOUSTON (ICIS news)--Dow Chemical CEO Andrew Liveris called for the US to adopt a new industrial policy based on technology, energy, manufacturing and the environment, he said on Monday before a conference in Detroit, Michigan.

"If we truly want the American economy to reach its full potential, we need to restore their ability to grow and compete once again," Liveris said during The National Summit, an event held by the Detroit Economic Club.

"We need an industrial policy for the 21st century," Liveris said.

He chastised the nation for neglecting its industrial sector.

"We became enamoured with making money from money," he said. "We forgot that making things - real, tangible things - still matters."

To restore prosperity, the US needs a more competitive manufacturing base and educational system, Liveris said. The nation needs "integrated environmental policies that encourage sustainability, that protect our earth and that safeguard our neighbours".

Liveris also repeated his company's long-time energy proposal.

The so-called "Dow's Energy Plan for America" pushes for aggressive energy efficiency and conservation.

Dow's plan also calls for reducing greenhouse-gas emissions, increasing both the supply and variety of domestic energy supplies and accelerating the development of alternative and renewable energy.

"Realising that goal alone would progress this country forward in immeasurable ways," Liveris said. "Even achieving that goal, by itself however, won't be enough.

"True progress will come only when we consider all of these four sectors together, in concert with one another," Liveris said.

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By: Al Greenwood
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