Isra-Mart srl:Chu to warn US faces clean tech "Sputnik moment"

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US Energy Secretary Chu is today expected to warn that the development of clean technologies by rival economies represents a new "Sputnik Moment", reminiscent of the Soviet Union's early lead in the development of satellite and rocket technology.

According to reports on the influential Politico blog, Chu will use a speech to the National Press Club timed to coincide with the opening of the UN's climate change summit in Cancun to warn the US must deliver a mobilisation of investment and technological innovation on a par with the Apollo missions, or risk surrendering its competitive edge to countries such as China and the EU that are investing heavily in emerging clean industries.

Chu is expected to reiterate his view that investment in low carbon technology is essential to create new jobs and drive economic growth and will point to how research projects funded by the US recovery act are already helping to deliver clean technology breakthroughs, such as an electric car battery that promises to deliver a range of up to 500 miles on a single charge.

The Obama administration is currently attempting to reframe the debate around climate change policy along economic lines after the Mid term elections saw a large number of Republicans who are sceptical about manmade climate change elected to Congress, giving the Party control of the House of Representatives.

Meanwhile, the UN Summit in Cancun will kick off this afternoon with a renewed call for co-operation between all participants and a series of speeches arguing that economic success can only be achieved if climate change is tackled.

Speaking at an event yesterday to inaugurate a wind turbine that will help power the hotel hosting the summit, Mexican president Felipe Calderon said that he would use Mexico's position as host of the summit to stress the economic opportunities that arise from low carbon development.

"This dilemma between protecting the environment and fighting poverty, between combating climate change and economic growth is a false dilemma," he said.