May 26, 2009

Beijing Announces Massive Alt Energy Investments

With US House Speaker Nancy Pelosi (D-San Francisco) in town, Beijing is announcing huge stimulus programs and policy changes for alternative energy in China. Pelosi said the need to work together on climate change was a "game changer" in relations between Beijing and Washington. Also in the Chinese capital, US Senator John Kerry, made similar remarks revealing a new approach in US relations with China linking old hat wedge issues such as "human rights" and "democracy" with China's environmental crisis. Both the US and China seem to be recognizing the need to move away from unfettered use of fossil fuels toward alternative energy production, a key signal that the anticipated boom in alt energy may be on its way.

Beijing is planning a big additional stimulus package for the renewable energy sector and will also focus on industrial consolidation in heavy industries, building sewer systems, and overall energy efficiency.

Perhaps of most interest to US exporters such as Westinghouse, Beijing will push for a dramatic increase in nuclear energy with plans for over 100 reactors by 2020.....

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