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Gulf oil exporters to begin investing in green energy

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posted on Jan, 21 2008 @ 11:54 AM
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Gulf oil exporters to begin investing in green energy


www.reuters.com

ABU DHABI (Reuters) - Gulf Arab oil exporter Abu Dhabi plans to spend $15 billion in the first phase of an initiative to develop green energy and build the world's largest hydrogen power plant, it said on Monday.

The investment would be part of the Masdar initiative, set up to develop sustainable and clean energy, Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahayan told the World Future Energy Summit in the emirate. He gave no time frame.

"I would like to underscore the government of Abu Dhabi's commitment to the Masdar initiative by announcing an initial investment of $15 billion," he said. "Next month ground will be broken on Masdar city, the world's first carbon-neutral city."

The money will go into infrastructure, renewable energy projects such as solar power, and manufacturing, to position Abu Dhabi as a leader in the global clean energy market, said Sultan Al Jaber, CEO of Abu Dhabi Future Energy Company, or Masdar.

(visit the link for the full news article)




posted on Jan, 21 2008 @ 11:54 AM
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LOL, how soon before we start seeing a huge rise in hydrogen dependent vehicles, with soaring costs for hydrogen fuel? Why can we not investigate these avenues and become independent of these people altogether? If they can do this, sitting under billions of gallons of fossil fuel, then we should be able to do it.

Obviously the problem has nothing to do with us NOT being able to do it, the problem lies with the greed-mongers controlling the country from moving forward.

www.reuters.com
(visit the link for the full news article)


apc

posted on Jan, 21 2008 @ 12:31 PM
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"I want to take those profits and put them into an alternative energy fund that will begin to fund alternative smart energy alternatives that will actually begin to move us toward the direction of independence." - Hillary Clinton, talking about Exxon.

Sorry you dumb little socialist chow. The companies you want to steal from really do know better than you on how to invest THEIR money.

DimensionalDetective, at this point it looks like they're just talking about hydrogen power plants. I'm going to have to look into them though. My understanding was hydrogen will not be an economically viable fuel until solar power is dramatically improved to drive electrolysis.



posted on Jan, 21 2008 @ 12:33 PM
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reply to post by DimensionalDetective
 


These guys are smart. They know the oil is running out and becoming too expensive to invest in any further.

However, you tell this sort of thing to American companies and they laugh at you.

This is insanity.



posted on Jan, 21 2008 @ 01:11 PM
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Related article:

Desert state channels oil wealth into world's first sustainable city

(The Guardian)In an expanse of grey rock and dust in one of the harshest environments on earth, the United Arab Emirates is about to build what is being described as the world's first sustainable city, designed by British architect Lord Foster.

The site is far from promising. Miles from a polluted sea, a fierce sun raises temperatures to 50C (120F) in the summer, and there is no fresh water, no soil and no animals. But tens of billions of petro-dollars will be poured into these seven square kilometres of desert on the outskirts of Abu Dhabi.

Called Masdar - "the source" in Arabic - the walled city is intended to house 50,000 people and 1,500 businesses. It will have no cars and be self-sufficient in renewable energy, the majority of which will be solar energy.

The formal unveiling of the desert eco-city will be made today at a summit on future energy sources in Abu Dhabi, attended by the UK business secretary, John Hutton, and Prince Andrew.


for rest of article:

www.guardian.co.uk...



Man, it must be nice to be able to use all the PROFITS of your fuel sales to be able to live ENERGY COST-FREE. Is something seriously wrong with this picture for us peons at the end of the food chain or what? lol



posted on Jan, 21 2008 @ 01:56 PM
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