The Daily Five: Thursday, 2 October, 2008

The Senate votes overwhelmingly to send nuclear power technology to India; U.S. carmakers take a beating; and China embraces algae-based biofuels.

Senate approves nuclear deal with India: The United States Senate overwhelmingly approved a measure late Wednesday which will provide nuclear power technology to India. The bill is controversial, due to India’s continuing refusal to sign the Nuclear Proliferation Treaty. Under terms of the agreement, U.S. companies would be allowed to compete for billions of dollars in Indian civilian nuclear power contracts. In exchange for the technology, India will agree to international monitoring, and to refrain from a resumption of nuclear weapon testing. (CNN)

Ford’s US sales drop 34 pct, GM down 16 pct: U.S. automakers took a drubbing in September, with Ford reporting a drop of 34 percent over this time last year. Chrysler followed with a 33 percent slowdown, while GM clocked losses in sales volume of 16 percent. Analysts attribute the dramatic slowdown to tightening credit, which is keeping new car buyers away from showroom floors. (Brietbart)

Dim Bulbs: Those Squiggly “Green” Light Bulbs Could Hurt the Environment, Study Says: A study published Wednesday suggests that, in terms of pollution, Compact Fluorescent Bulbs (CFLs) may be a but of a mixed bag. In countries such as the United States — which produces the majority of its power from coal — CFL energy efficiency will result in a net loss of environmental mercury. Areas generating their power through nuclear or renewable technology might experience a net increase in mercury pollution, due to the small amount in each bulb. (WSJ.com)

Americans continue to drive less for 9th straight month: Are you driving less? Most Americans are, according to a new report. Auto travel slumped for a ninth straight month in July — traditionally on the the busiest driving months of the year. Estimated mileage was down 3.6 percent from the previous year. That’s not as steep as the 5 percent drop reported in June. (Autoblog Green)

China Shows Green Aspirations With New Algae Biodiesel Facility: China continues to show strong interest in the green fuels sector. Shanghai Jun Ya Yan Technology Development Company says they’ve signed a technology agreement with U.S. based PetroSun to construct a $40 dollar algae-to-biofuel refinery. The two companies plan to produce both ethanol and biodiesel from the green brew. They’ll also use algae for “other useful products,” which analysts expect will be farm feedstocks made from algae waste. (Gas 2.0)

ShareThis