Friday, February 03, 2006

Denmark: Renewable energy poised for US invasion

America has an addiction. Denmark's alternative energy producers may have the cure, says the Copenhagen Post. The excitement amongst Danish alternative energy producers was tangible late Wednesday night as US president uttered the words 'America is addicted to oil' and that something must be done about it.

During his State of the Union Speech, President Bush announced that the US needed to cut its reliance on foreign oil. To achieve that, he was launching the Advanced Energy Initiative - a project aimed at reducing the country's dependence on oil 75 percent by 2025.

The initiative is no small deal. The US has already has spent USD 10b (EUR 8b) since 2001 to reduce its energy dependence, and experts predict that far more will be needed to meet the goal. The initiative itself will increase research by 22 percent.

A key element of the reducing energy dependency will be a shift to renewable energy technology, and here Danish alternative energy producers already have a leg up on their competition.

No comments: