Asia Pacific to gain edge in low-carbon growth by Daniel J. Graeber Washington DC (UPI) Jan 20, 2017
It will be the economies in the Asia Pacific region that could gain the global edge in clean energy technology in the age of protectionism, a consultant said. Donald Trump vowed to make the United States energy independent by unraveling what his advisors see as burdensome regulations enacted by his predecessor, Barak Obama. While making reference to a need for alternative options, most of Trump's policy emphasis is expected to favor oil and natural gas. Through Twitter, the president before his inauguration antagonized the U.S. auto sector with threats of hefty border taxes and tariffs. Ravi Krishnaswamy, a vice president for energy and environment issues in the Asia Pacific for consultant group Frost & Sullivan, said policies like that could push decarbonization momentum outside North America. "With the rising protectionism across the world, issue of energy security will once again come to the fore in Asia Pacific," he said in a statement. "This will accelerate adoption of clean technologies which can be harnessed locally and those that are less impacted by global policy and price fluctuations." Beijing issued a developmental white paper last year that outlined the approach to development under the guidance of the Communist Party of China, saying China is "committed to the concept of environment-friendly development." The paper states that China has been at the forefront of the effort to infuse environmental protection with state policy, becoming the first country in the world to offer a sustainable development strategy in the 1990s. Former President Barack Obama and Chinese President Xi Jinping agreed last year to collaborate on climate change by signing agreements outlined in the Paris deal, a deal Trump has vowed to abandon. Outside of renewables, Frost & Sullivan said recovery in oil prices that emerged in the latter half of 2016 means new interest in refinery and petrochemical investments across the Asia Pacific. Nevertheless, analysis from the economists at the Organization of Petroleum Exporting Countries said full-year 2016 oil demand from the Asia Pacific was slightly less than the previous year. According to OPEC, the region will need even less oil in 2017.
Related Links All About Solar Energy at SolarDaily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |