Tuesday, June 26, 2007

U.S. Secretary of Energy Samuel W. Bodman addresses BSAS

U.S. Secretary of Energy Samuel W. Bodman addressed the Annual Meeting of the Boston Security Analysts Society on Monday, June 25.

In his speech, Bodman said "pretty much what he was supposed to say." Or at least that was the consensus at the table where I sat.

Things got more interesting during the Q&A.

China, said Bodman, ignores environmental and energy policy in favor of economic growth. The Chinese government's big fear is that if it loses economic growth, then it will not be able to maintain order in their society. There's tension because of the big gap between the rich and the poor.

Bodman predicted it'll take three years to break ground on new nuclear plants in the U.S. and it'll be 2015 before those new plants are in working order.

In answer to a question about the high cost of sugar in the U.S. despite Brazil's cheaply produced sugar, Bodman said that's why cellulosic ethanol is being pursued. In answer to this question and others, he said that he doesn't try to take on things -- such sugar subsidies -- that he can't change.



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