$10 trillion wake-up call

IEA says $10 trillion needed to fund clean energy technologies:

BANGKOK—The International Energy Agency said Tuesday that a $10 trillion investment in renewable energy, biofuels and nuclear power over the next 20 years is necessary to stabilize greenhouse gas emissions.
The Paris-based agency serves as a policy adviser on energy issues to 28 industrialized countries - so pay attention!
Governments need to commit to remake the energy sector or face unacceptable greenhouse gas emissions more than double safe levels in the "longer term".
The IEA recommends that most of the spending until 2020 go into increasing energy efficiency, renewable energy and biofuels... 33 percent of energy to come from renewables, including nuclear power, by 2030.

AMBITIOUS? It means constructing 18 nuclear reactors and 17,000 windmills every year and about 60 percent of vehicles worldwide would have to be either hybrid or electric.
The CORE of the PROBLEM is the energy sector which includes the oil, gas and coal used to power industry and fuel vehicles. It represents 85 percent of all global carbon dioxide emissions thus, energy reforms are the solution but negotiators from industrialized countries have yet to commit to any budget to finance clean technology and the other measures needed to move to a low-carbon economy... nor have they agreed to the deep emissions cuts that the IEA plan endorses. Binding international climate agreement is desperately needed and the longer action is delayed, the more expensive it will be.
China needs to get on board because they are the world's top emitter of greenhouse gases.



source: U.S. News