18-Feb-2011

angus

Next Tuesday, Feb 22nd look for a feature article in the National Post on the Angus Watt Advisory Group

Highlights from the lunch with the High Commissioner from India

+ Largest democracy in the world, 10th largest economy in the world and in 10 years they would like to be 4th.

+ Savings rate is 35% of GDP.

+ Population of 1.1 billion with 50% under 25.

+ Over 50% dependant on agriculture, 2nd largest global producer of fruits and vegetables of which 35% is lost to waste because of poor storage and transportation.

+ Need growth rate of 4.5% for stability.

+ Substantial investment needed in electricity, oil and gas, and roads.

+ Air transport industry is the fastest growing in the world and will need 3,000 new aircraft over the next 10 year.

+ Adding 15 – 20 million wireless subscribers per month with 650 million to go.

+ Other areas requiring investment: passenger rail network, cement industry and higher education.

+ Challenges are literacy and poverty.

US Energy Secretary Steven Chu, at the renewable-energy conference in Washington

+ Looking for massive retirement of coal powered plants in the next 5 – 8 years, as majority of plants are 40 to 50 years old.

+ President Obama aims to eliminate tax subsidies for fossil fuel production worth $4 billion per year to focus on renewable energy.

+ 80% of electricity must come from “clean” sources by 2035 and “clean-coal” equipment isn’t available yet.

2010 – almost half of the electricity in the US came from coal-fired generators.