RSS
Home
China leader in global clean technology
Print
Email
RSS
Subscribe
China leader in global clean technology. Even though China is the world's largest emitter of carbon and is almost exclusively dependent on dirty coal, it is the global leader in clean technology manufacturing. While investment in the U.S. in clean technology plummeted 85% in the first quarter it continued to rise in China. Obama has said that the country that leads the way in clean job creation in the 21st Century will lead the global economy, the U.S. sorely lags in clean job investment and job growth.
Stimulus funding favored clean technology with about $100 billion going directly or indirectly to bolster clean technology, but China is seen as doing more than the U.S. when it comes to investing in clean technology and jobs. The new fuel economy standards of 39 mpg and the carbon cap on transportation fuel at 250 grams per mile give Detroit a clear road map as they emerge from financial havoc. But the White House has deemed the GM electric car the Volt is to expensive to put on the road in the U.S. Meanwhile, China is gearing up to become the world leader in electric battery and car technology with hefty government and Western investment. Even Warren Buffet is invested in China's electric car industry.
When it comes to wind turbines, 2 of the 3 worlds leaders in wind turbine production are based in China. Even as China exports more of it clean technology overseas, it to is greening up it power supply. Offshore wind turbines received a big boost from Obama last month when the Interior Department issued clear rules for the guidelines for constructing offshore wind turbine farms. There are no offshore wind farms in the U.S. but the path has been cleared for Cape Wind off of Nantucket Sound.
So, the U.S. has a long way to go to catch up in the clean technology race. Clearly stronger investment in wind and solar is needed from both the public and private sector. However, traditional technologies that have gotten cleaner are fighting hard for the renewable, clean fuel status. Old sources like hydroelectric, new sources like land fill waste to natural gas and even coal waste industry are lobbying hard for billions in tax dollars and credits, that clearly belong to new, under invested technologies like wind and solar. The private investment markets need to step up their investment in clean technology. Right now, because of the relatively low cost of a barrel of petroleum ($61), investors are not even investing in new petroleum production. Yet, OPEC recently said to get ready for $200 per barrel of gasoline as early as next year, as demand rises as the world economy recovers and production is not expanded. Are we going to get flat footed again on high petroleum prices? Hopefully not, but is the only market measure that will restart the investment in clean technology. Unfortunately, the rewards of clean, renewable technology are years away and the cost is now. We will have to see where we in are in the fall of 2010, of course, an election year and first test of the Obama Democratic Congress.
Related Articles:
Add a Comment
