USA Solar Stimulus

The Obama administration is handing out $US2 billion ($2.5 billion) for new solar power plants, which the president says will create thousands of new jobs and lessen US dependence on foreign oil.

Barrack Obama said the investment was part of his plan to bring new industries to the country. ''We're going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America,'' he said.

The money has been allocated as part of the US Government’s $US862 billion economic stimulus package and will be assigned to two established solar companies, Abengoa Solar and Abound Solar Manufacturing.

The Obama administration said the projects would create more than 2000 construction jobs and 1500 permanent jobs.  ''But the truth is, steps like these won't replace all the jobs we've lost overnight,'' Mr Obama said in his weekly radio and online address on Saturday. ''I know folks are struggling.''