Summit Notebook

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U.S. Commerce Secretary doesn’t like ring of Shanghai Silicon Valley

October 21, 2009

U.S. Commerce Secretary Gary Locke says one thing he doesn’t want to see is a Shanghai Silicon Valley develop from China’s investment in clean energy.

He warned that if the United States doesn’t move forward on clean energy, it risks falling behind China where the government is spending almost $100 billion a year to support renewable energy and clean energy efficiency.

And China is not doing it just to address climate change issues, but because it sees an economic opportunity. “They’re really focusing investing in the clean energy field to serve the needs of the world,” Locke said at the Reuters Washington Summit.

“And so that’s why it’s very important that we pass clean energy legislation because there’s so many investors, entrepreneurs, venture capitalists who are sitting on the sidelines waiting for that certainty,” he said. “They just want to know what the rules of the game are, what the tax incentives are, what the tax rules and regulations are before they commit.”

The longer the U.S. government takes to pass comprehensive energy legislation, “the farther ahead the Chinese will be and we certainly do not want 10 years from now Shanghai and other parts of China to be the Silicon Valley of the clean energy field,” Locke said.

He agreed with President Barack Obama’s equation. “The president has said that the country that leads in the clean energy sector will lead the world economy, I believe that’s true,” Locke said.

For more news from the Reuters Washington Summit, click here.

Photo credit: Reuters/Jonathan Ernst (Commerce Secretary Gary Locke at Reuters Washington Summit)

Comments

Environmental engineering is the future.

 

$3.00 tax on gasoline. It’s really that simple.

Posted by Brian Calloway | Report as abusive
 

Countries should cooperate in the field of clean energy. Clean energy, no matter where, will benefit the world world. Who ever the leader is shall share the new technology. Polution and CO2 has no boundary.

Posted by Ben Gee | Report as abusive
 

Maybe if we stopped spending so much of our taxpayer dollars on empire building and pointless wars, the government could instead make the huge investment in R & D in the emerging Cleantech sector that will be needed to compete on the global front in the Cleantech game. (and put some money into making healthcare better, so forth, while we’re at it). This would change the world for the better and set a good example, instead of unconstitutionally mingling in the affairs of foreign governments. Time for the people to wake up, and stop tolerating wasteful foreign policy and instead embrace fruitful innovation policy.

“Instead of Guns, Solar Gizmos! Instead of Bombs, Brains!
Instead of Aircraft Carriers, Wave Power! Instead of Maimed Soldiers, Empowered Engineers!. Instead of Dead Civilians, A Fuel Cell for Every Home!”

 

China spending 100 billion dollars a year. That figure seems too high — some fact-checking perhaps?

Posted by feng | Report as abusive
 

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