Green-tech investment falls 50%, but it’s no time to worry

The first quarter of 2009 saw a sharp decline in all forms of investment in clean-tech and energy both compared with a year ago, as well as the fourth quarter of 2008. Overall, the $13.3 billion invested was down 53% from the previous year and 44% from the last quarter. Investments in new renewable-energy projects led the decline, with venture capital investments also dropping 22% and a near evaporation of all investment in pure-play clean energy companies. However, this raw figure does not tell the entire story for the industry, nor is it necessarily indicative of a trend.

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The “Smartest” Cabinet Choice Yet

According to NBC, President-elect Obama will choose Nobel laureate Steven Chu as his Energy Secretary.

MSNBC

In addition to being one of the brightest minds to ever occupy a cabinet position, Chu is also an incredible realist when it comes to biofuels. He has taken an environmental approach in his analysis of our energy situation, realizing the need to develop new energy sources that currently do not exist.

Chu urges scientists to find environmentally friendly form of fuel

The most progressive and refreshing viewpoint he takes is on corn-based ethanol, currently part of most politicians’ “alternative energy” plan.

“From the point of view of the environment,” explains Chu, “it would be better if we just burnt oil.”

It sounds a lot like he understands the concept of EROEI and the disastrous environmental impacts of current ethanol production. This pick is change that we at Smash the Mirror can definitely believe in.

G-8 Summit: Its Just an Issue of Supply and Demand

As oil sits at a record high of $138, and US gas prices tip over $4, the top industrialized nations of the world are asking for increased production, investment in new technologies and increased efficiency at the G-8 summit in Toyako, Japan. All 8 nations – the United States, Russia, Japan, Germany, France, Italy, Canada and Britain – voiced a plan on how to cut their own dependence on fossil fuels.

AP
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