I believe it is wise from an environmental and economic viewpoint to invest in renewable energy projects. I believe the costs of fossil fuel based energy will continue to increase. Renewable energy is continuing to improve and when considering the negative externalities caused by oil, gas and coal and the continuing improvement in wind, solar and geothermal generation investment in renewable energy are going to payoff well for countries.
We all know it very well: China is one of the largest polluters in the world. It is estimated that the cost of carbon emissions to the global economy incurred by Chinese businesses reaches an annual cost of $765 billion.
The co-founder of Microsoft Corporation (NASDAQ:MSFT), Bill Gates joined a host of other prominent celebrities on Monday, who have pledged $7 billion for the initiative of clean energy. Saudi Arabia’s Prince Alwaleed bin Talal, Virgin Group’s founder Sir Richard Branson; salesforce.com CEO Marc Benioff are among other investors that are backing the freshly introduced Breakthrough Energy Coalition.
CALGARY – The government of Canada will play the role of venture capitalist and booster to clean technology companies with billions of dollars in funding and outright share purchases budgeted over the next several years.
Finance Minister Bill Morneau tabled the Liberal government’s budget Wednesday and listed “clean technology” and “clean resources” as two of six “economic sectors where Canada will lead the way,” aided by money from Ottawa.
I've written a good bit lately about the recent push among US companies and politicians for tariffs and other forms of protectionism against imports of "green energy" goods and services. One thing I really haven't gotten into, however, is the blatant hypocrisy of such efforts - which inevitably result in higher prices for the targeted goods and services - when undertaken by politicians who at the same time claim to support "clean" energy and its environmental benefits and/or lower taxes on American families and businesses.
Last week, I explained how federal "green" subsidies to domestic producers of polysilicon - a key input for solar panels - fueled global overcapacity and helped kill Solyndra, the poster-child for America's green subsidy mess.