New energy "a must" for China: chief energy official

BEIJING, Mar. 7, 2009 (Xinhua News Agency) -- Development of new energy should be established as an important strategy for China to address energy shortage and environmental woes, Zhang Guobao, head of the National Energy Administration, said Saturday.

To develop new sources of energy has become an important strategy for many countries to fight for a dominance in the combat against climate change, and China should closely follow global developments (OOTC:GBDV) in this area, beef up R&D of new energy technologies (OTCBB:NENE) , and invest more in the industry, said Zhang.

"If we fail to address the development of new energy from a higher horizon, we will regret to find ourselves falling behind others within 10 years," said Zhang, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC).

In China, coal makes up about 70 percent of its total energy consumption, 40 percentage points higher than the world average.

The country is seeking the development of other energy sources than coal to shift its heavy reliance on coal and reduce pollution.

Premier Wen Jiabao said in the government work report delivered to lawmakers Thursday that the country will "energetically develop a circular economy and clean energy."

The country would promote R&D on technologies in new energy sources and develop clean energy such as nuclear, wind, and solar power (OTCBB:SOPW) this year, according to Wen's report.

Source: Xinhua News Agency (March 7, 2009 - 4:06 AM EST)

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This is another good news for HE they can profit in so many ways of the situation at hand, 2 years down the road this stcok will be worth many times what`s it`s valued at now, unless the sky turns green and the oceans runs us over. Time`s running for humanity, when the south pole starts melting everything might go very fast we must act swiftly on new energy sources, it`s more then a matter of economy it`s all about survival and conciousness.

tectol