goldman sachs can find money for China investments but cannot find money for USA investments?????
Goldman Sachs managing director Kevin Zhang said last week that the Wall Street Bank would accelerate investment in China as opposition to foreign investment eases and the need for funding rises. Goldman Sachs recently made a $100 million joint investment with China CDH Ventures in Himin Solar Energy Group, China’s top maker of solar water heaters.

China’s cement industry is likely to benefit from the government’s 4 trillion yuan ($584.6 billion) economic stimulus package focused on infrastructure construction and social welfare.

got to love Obama’s choice for Energy……..

So Steven Chu, President-elect Obama’s likely choice to head the Department of Energy, is a proponent of energy efficiency and conservation as the first step in rejigging America’s energy mix. But since conservation alone won’t do it, what are his ideas about finding new supplies of energy?

Dr. Chu’s marquee work at the Lawrence Berkeley National Laboratory is the Helios Project. That’s an effort to tackle what Dr. Chu sees as the biggest energy challenge facing the U.S.: transportation. That’s because it’s a huge drain on U.S. coffers and an environmental albatross, Dr. Chu says.

Helios has focused largely on biofuels—but not the bog-standard kind made from corn and sugar. The Energy Biosciences Institute, a joint effort funded by BP, is looking to make second-generation biofuels more viable. Among the approaches? Researching new ways to break down stubborn cellulosic feedstocks to improve the economics of next-generation biofuels, and finding new kinds of yeast to boost fermentation and make biofuels more plentiful while reducing their environmental impact.

What about other energy sources? Big Coal won’t be very happy if Dr. Chu gets confirmed as head of the DOE—he’s really, really not a big fan. “Coal is my worst nightmare,” he said repeatedly in a speech earlier this year outlining his lab’s alternative-energy approaches.

If coal is to stay part of the world’s energy mix, he says, clean-coal technologies must be developed. But he’s not very optimistic: “It’s not guaranteed we have a solution for coal,” he concluded

notice the increased demand for China and India…….
The cold truth is that demand for energy of all types – and especially electricity – is going to keep advancing, domestically and worldwide. And developing alternatives to coal and nuclear will take time. For instance, tying wind and solar into the existing power grid will be enormously expensive and is likely to pose massive technical and engineering problems.

In fact, according to the International Energy Agency, renewable energy isn’t likely to make a meaningful dent in meeting the world’s energy needs before 2030, if then.

And regardless where the power comes from, our appetite for electricity will continue to skyrocket. Across the planet, overall electricity consumption is expected to double by 2030, increasing by 17 trillion kilowatt hours. While electricity demand will “only” increase by 50% in the U.S. market by 2030, demand will increase 400% in China and six-fold in India.

Our research indicates that President Obama will have very little flexibility in solving our short-term energy problems once he’s sworn into office next month. While he may prefer the environmentally friendly alternatives, most of those replacements are far from fully developed.

WASHINGTON (AP) – When Bill Clinton took office in 1993, global warming was a slow-moving environmental problem that was easy to ignore. Now it is a ticking time bomb that President-elect Barack Obama can’t avoid.

Since Clinton’s inauguration, summer Arctic sea ice has lost the equivalent of Alaska, California and Texas. The 10 hottest years on record have occurred since Clinton’s second inauguration. Global warming is accelerating. Time is close to running out, and Obama knows it.

“The time for delay is over; the time for denial is over,” he said on Tuesday after meeting with former Vice President Al Gore, who won a Nobel Peace Prize for his work on global warming. “We all believe what the scientists have been telling us for years now that this is a matter of urgency and national security and it has to be dealt with in a serious way.”