With oil hovering at $40 a barrel, and the price of gasoline nose-diving from all-time highs, do you think the worst-case scenario is behind us?
We are fooling ourselves if we think we can survive under our present system. Those are short-term numbers, and they are not encouraging to any of us. OPEC has already made it clear through production cuts that it is going to do everything in its power to get the price of a barrel of oil back up again.

So you’re saying we can’t afford to sit still?
Ohio can’t. Manufacturing is a vital component of our state’s economy. As a consequence our state uses an enormous amount of energy. Like America and its dependence on foreign oil, we are a net energy importer, which is why we are moving as quickly as possible to develop alternative energies. We have to.

What sort of steps is Ohio taking?
Last year the Ohio Legislature passed an electricity restructuring bill that has some of the strictest requirements in the country for developing electrical power from alternative energy sources. That’s the sort of signal investors want and need so they can commit capital and invest in alternative energies.

What other energy sources are being developed in Ohio?
I am personally a big supporter of nuclear power. Ohio was in the running and a finalist for a new nuclear plant being developed by Areva, the French nuclear power giant. We didn’t get that one, but there will be others to come. We have already taken big steps forward with clean coal technology. That’s a must for us because Ohio generates 95 percent of its electrical power from coal. I’ve also participated in several meetings with MTorres, a Spanish company, in Ohio as well as in Spain, about developing a wind farm on Lake Erie. What a great opportunity for us to make the most of such a significant natural and renewable resource. And our state is a leader in solar energy.

Ohio? Solar energy? That’s produced in the desert, not in the Midwest.
But how is harnessed? Come to Ohio and we’ll show you how. The Toledo area is one of world’s leading centers for solar research and development. To begin with I’ll tell you about First Solar, which is a publicly traded company that is one of the fastest growing manufacturers of solar modules in the world. The company is less than 10 years old and is already a leader in clean affordable energy.

Xunlight is another Toledo-area company that is a major solar panel producer. The company is a spin-off from the University of Toledo and was started by a young doctor, Xunming Deng. Xunlight manufactures microthin, three-foot wide solar panels that can be produced in sheets up to a mile long. They are completely portable and can be rolled up, transported, and easily installed.

And when investors tried to lure Dr. Deng overseas to set up production for Xunlight in a lower cost market, he said, “No. The University of Toledo took a chance on me, and now I’m going to stick by them.

From employment opportunities to increased funding in higher education and a broader tax base, that’s going to pay huge dividends.
I am convinced that renewable energies and developing the technology that powers them have the potential to be a major answer to the current economic challenges our country now faces. Anyone who needs proof can come to Ohio.

INTERVIEW CONDUCTED, CONDENSED, AND EDITED BY ERIC O’KEEFE

This entry was posted on Thursday, February 5th, 2009 at 4:00 pm by Eric in In the News.
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