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Power company Duke Energy Corp. said Wednesday that it has struck its second deal in just over a month with a large Chinese power company to develop sources of low-carbon energy.
Duke and ENN Group say ideas for potential development between the two include commercial solar projects, coal-based clean energy, biofuels, natural gas, smart grid, energy efficiency and carbon-capturing algae.
China and the U.S. are No. 1 and 2 when it comes to greenhouse gas emissions. The countries account for 40 percent of the world's total emissions. Both also heavily count on coal to drive their economies, with Duke using coal to generate about two-thirds of its electricity.
Jim Rogers, Duke's chairman, president and CEO, said if U.S. and Chinese companies can strike deals to work on climate change, then maybe it can lead to bigger solutions being reached by the governments of both countries. But he said the deals "mean nothing if they don't produce real projects, real solutions and are profitable."
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