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.