Latest Articles
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As economic indicators trend downward, the clean-tech sector is still looking up
As one key economic engine after another -- housing, finance, autos, retail -- sputters and stalls out, the fledgling eco-economy is purring right along, fueled in no small part by venture capital firms hungry for new opportunities in industries that promise outsized returns on their investments. In the first three quarters of 2007, VCs poured $2.6 billion into alternative energy and clean-tech firms, more money than they invested for the whole of 2006. The new year promises to be another record breaker.
And it's not only the Silicon Valley sharpies that are on the prowl: GE is promising to plow $6 billion into renewable energies by 2010, double what they were projecting only last year; Germany's Schott Solar is plunking down $100 million to build a plant in New Mexico, and predicts its investment will grow to $500 million when the facility is completed; and as 2007 drew to a close, Morgan Stanley made a $190 million investment in a clean-tech venture. Morgan, by the way, estimates the global renewable energy industry has a market cap in the neighborhood of $170 billion.
Certainly not all is rosy in the clean-tech patch. Tesla Motors and Imperium Renewables, once considered high fliers, have been dealt setbacks -- and as a result, have trimmed employee rolls. And alternative energy stocks are starting to look positively bubble-ish to some on Wall Street (the subject of a future post).
Recessions don't play favorites, for the most part. When U.S. consumers snap their pocketbooks shut, it creates a drag on the overall economy and everyone -- including governments that depend on tax receipts -- feels the pinch. The eco-economy probably won't be immune. But with the hundreds of millions of dollars streaming through the doors almost weekly, it's not a bad place -- and better than most -- to ride out the storm.
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Green manufacturing could save the economy
Paul Krugman has been a hero of mine during the long, bleak reign of Bush the Younger, articulating arguments against Bush's philosophy and policies oh these many years. Krugman is one of the leading authorities on international trade, however, and so I was holding my breath, intellectually speaking, waiting to see what would happen when there were global economic troubles.
I can exhale, because he's revealed his Panglossian side: our current economic troubles are the result of a "global savings glut" -- that is, the U.S. is the victim of its own success. Foreigners are investing in our country because we are so wonderful, and the problem is that they got snookered into investing in scams like sub-prime mortgages.
What's this got to do with the environment? Krugman's argument, which was made first by now Fed Chairman Ben Bernanke (and the folks at the Cato Institute), distracts attention from what I think is the true problem: the decline of manufacturing. If people would understand the real problem, they might be more open to a greening of America by revving up manufacturing of renewable energy technologies, public transit, and retrofitting, to name a few.
But first let's take a look at what Krugman said:
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Pennsylvania will allow hormone labels on dairy products
A decision by Pennsylvania agriculture officials that dairy products sold in the state could not be labeled as synthetic-hormone-free sparked a consumer outcry and a review by Governor Ed Rendell. Yesterday, officials more or less reversed that ban: dairies will be allowed to advertise that their cows aren’t shot up with synthetic hormones, which increase […]
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Scientist says biofuel boom endangers world’s largest rainforest
A fifth of the Amazon rainforest — the world’s biggest carbon sponge — has disappeared since the 1970s. The Brazilian government has succeeded in recent years in slowing the deforestation rate, but its efforts have recently been faltering. Bungle in the jungle. Photo: iStockphoto In the last four months, 2300 square miles of rainforest got […]
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Nora Roberts will match donations to Defenders of Wildlife
Well, well, well. Who ever said that trashy romance novels couldn’t change an endangered species’ life? Ferret-related plagiarism by romance novelist Cassie Edwards has brought the world more than just a discussion of the various outdoor places our readers like to get down and dirty. (But, um, that was very enlightening.) According to Smart Bitches […]
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Judge temporarily drops two restrictions on Navy’s use of sonar, retains others
Earlier this week, President Bush exempted the U.S. Navy from parts of an environmental law so it could continue to use mid-frequency sonar off the California coast. Mid-frequency sonar has been linked to deafness, beachings, and other injuries of marine mammals. Responding to Bush’s move, the federal judge who earlier this month ordered the Navy […]
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Google announces expansion of philanthropic goals beyond alternative energy
Google has announced it’s expanding the goals of its philanthropic arm, Google.org, beyond alternative energy to include fighting disease, averting pandemics and other mass crises, and alleviating poverty in the developing world. Along with the expansion of its mission, Google.org announced some of the recipients of the first round of grants and investments yesterday, totaling […]
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Google invests in solar thermal company eSolar
Today, Google announced it’s investing $10 million in eSolar, a solar thermal company, as part of its RE<C project. (Speaking of the latter, we’ve got an excellent interview on it coming up soon.) Here’s what esolar has to say about itself (PDF): To serve the renewable electricity needs of utility-scale energy providers, eSolar has developed […]
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Coal company penalized for Clean Water Act violations
Massey Energy Co., the nation’s fourth-largest coal producer, has agreed to a $30 million settlement with the U.S. EPA over allegations of Clean Water Act violations. Massey was accused of polluting streams and waterways in West Virginia and Kentucky with the detritus of mountaintop-removal mining on at least 4,500 occasions between 2000 and 2006. The […]
