Economic Warfare
November 21, 2009
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Sometimes Jstegma likes to know what the left is talking about. Today we are talking about the economic annihilation of the United States. This article is written by Robert F Kennedy jr for the Huffington Post.
...Indeed, the Chinese are treating the energy technology competition if it were an arms race. China is spending as much or more on greentech as it does on its military, hundreds of billions of dollars annually on renewable energy and grid infrastructure improvements. Those investments, if not vigorously countered, will effectively erode America's greentech industry leadership and secure China's dominance. China's economic stimulus package, targeted 38% of spending on greentech, as compared to a miserly 12% of the U.S. stimulus program. By 2013, greentech will account for 15 percent of the Chinese GDP. While the United States is projected to roughly triple its wind generation by 2020, China will increase its capacity twelvefold to a wind generating capability more than twice that of America's. And, while the United States is projected to increase its installed solar generation a modest 33% by 2020, China's solar generation is projected to increase 20,000%.
China's investments in solar technology have so powerfully stimulated the growth of a Chinese solar market that Chinese solar panel manufacturers now far outnumber American ones, and they are achieving low-cost production much faster than their American counterparts. Chinese companies are now flooding the American market with cheap Chinese solar panels and devastating the American manufacturing sector that was gearing up to create tens of thousands of U.S. jobs for our own ailing economy. Hundreds of U.S. solar manufacturers now see their prospects as grim. BP Solar, Evergreen, and General Electric have already announced the closing of American-based solar panel factories and outsourcing, primarily to China. America's leading solar manufacturer, Applied Materials, has opened the largest non-government solar energy research facility in the world in China. Of today's ten leading solar panel manufacturers, only one is American. The largest solar panel installation in the United States is a 70,000 panel, 14.2 megawatt array on Nellis Air Force Base in Nevada. The array provides more than 25% of the base's power needs, and saves the Pentagon a million dollars annually in energy costs, but the panels' manufacturer was China's Suntech Power Holdings. Even in the thin film solar market, among the last redoubts of American dominance Chinese businesses are squeezing profit.
Here is a list of companys that may have the opportunity to take advantage of Chinese Government investment. I have no RL position in any solar company at this time.
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