The 2008 Wharton China Business Conference brought together energy experts around the world. What they all agree upon is that China’s rapid growth, their dependence upon coal, and their energy shortage, are all combining into an environmental disaster. China produces more carbon dioxide then anywhere else in the world. They currently hold the title for most polluted cities, 20 out of the top 30 are in China, 1/3 of them experiencing acid rain. China is second in the world in oil consumption, and they use 2.5 billion tons of coal a year.
The experts also agree that China should be investing immediately in nuclear, and they see a place for other alternative sources like solar, wind and biofuels. China’s goal is to have 20% of their energy supplied by alternative sources by 2020. They have made significant progress in solar water heating however, accounting for 70% of the worldwide market.
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Cleaning Up It’s Act: How China Can Convert to More Environmentally Friendly Energy