Corporate Run Down
by John Laumer, Philadelphia on 05.24.07
GE -"General Electric will today reveal that it has doubled sales from environmentally friendly products to $12bn over the past two years in the strongest sign yet that corporate America's drive to respond to climate change is beginning to pay off. At a Los Angeles event with Arnold Schwarzenegger, California's governor, Jeffrey Immelt, GE chief executive, will say the company has $50bn of projects in the pipeline and is on track to meet its target of $20bn in "green" sales by 2010." A most interesting article that ThreeHugger heartily recommends. Via:: Financial Times " JPMorgan, seeking to capitalise on the boom in environmentally friendly technologies, has established an alternative energy investment banking unit and hired a former executive from General Electric to run it." Catch-up time. Via:: Financial Times again. US Oil Industry (variously) "“If the national policy of the country is to push for dramatic increases in the biofuels industry, this is a disincentive for those making investment decisions on expanding capacity in oil products and refining,” said John D. Hofmeister, the president of the Shell Oil Company." More excuses are possible: if CAFE standards were raised significantly, they could close refineries. (joke) Via: New York Times
Vestas "China is expected to become the world's largest market for wind power generation within the next three to five years, said Thorbjorn Rasmussen, president of Denmark's Vestas Asia Pacific. Speaking at an industry conference here, Rasmussen said he expects China to reach eight gigiwatts of installed wind power generation capacity by 2010." GE is no doubt paying attention as well. Via:: Forbes
Image credit: AP, via Augusta Chronicle
