NEW ENERGY THE DEAL BY 2020 – CHU

Wind, solar becoming cost competitive: Chu
24 March 2011 (AFP via France24)

"Clean sources of energy such as wind and solar will be no more expensive than oil and gas projects by the end of the decade, US Energy Secretary Steven Chu said…

"President Barack Obama's administration has been encouraging companies to invest in green growth, calling it a new source of jobs and fearing that other nations -- led by China -- are stealing the march…"

click to enlarge

[U.S. Secretary of Energy Steven Chu:] "…[T]he country and the companies who develop those renewable energy and resources that become cost competitive without subsidy all of a sudden have a world market. And, boy, we can't lose that world market…"

"The US Congress has rejected attempts to mandate curbs on carbon emissions blamed for climate change, with many members of the Republican Party arguing that reducing dependence on fossil fuels would be too expensive."

click to enlarge

"But the Obama administration has been hoping to seek bipartisan cooperation on what it hopes are less controversial efforts such as encouraging renewable energy.

"Both the administration and Republicans have defended the pursuit of nuclear power -- which causes virtually no carbon emissions -- despite radiation concerns in Japan…"