UAE's efforts on renewable and clean energy hailed

Abu Dhabi: Bill Richardson, former governor of New Mexico and chairman of Apco, said that sanctions against Iran are quite effective and they "are bearing fruit".

"The economic sanctions against Iran are beneficial and they are getting very useful, and this is realised through the bad temper of Iranian officials and government when they threatened to close the Strait of Hormuz," Richardson told Gulf News.

"If Iran closes the strait, the US along with the international community, particularly the EU, will resort to military action. The military option is on the table," warned Richardson.

He advised both Russia and China to make up their mind on the Iranian nuclear energy project and to revise their policies and cooperate with the international community to solve the problem which threatens world peace and stability in the region.

‘Summit important'

About the World Future Energy Summit in Abu Dhabi, Richardson said: "The UAE has turned out to be a centre for renewable and clean energy, along with the USA and China as well as other developed countries".

"This summit is very important for all countries which are concerned about renewable and clean energy, since oil prices will remain higher than $100 (Dh367) per barrel," said Richardson.

He said the participation of senior officials from China and Korea, who along with the UAE are major producers of renewable energy, reflects the importance of this gathering.

Good perspective

"There are also many multinational companies taking part in the conference which proved to be a great success for the country and for the region to host such a summit, as it provides investment opportunities and new technologies that are safe, affordable and clean for the environment," Richardson said.

The UAE summit offers a good perspective on how the scientific and technological vision for renewable and sustainable energy can find traction with policymakers and society at large, because many governments are taking part.

"Every country should have a strategy of energy mix. It is difficult to move from fossil fuel to renewable overnight.

"We should be realistic enough to understand that the embedded infrastructure and financial investments in our current fossil fuel system cannot be changed overnight and, therefore, we should encourage and support bridging technologies in the transportation and power sectors that can reduce pollution and greenhouse gases.

Better life

"Therefore, there is a dire need for having a bridge between renewable energy and fossil fuel which is natural gas," said Richardson.

"Renewable energy gives hope to people around the world who are yearning for a better life for themselves and their children, since this source of energy will unleash a truly astonishing level of economic activity, investment, and broad-based growth, thereby generating the green jobs of the future," he said.

Richardson said sustainable and renewable energy must be built on the essential needs of people such as jobs, livelihoods, food and water, health, clean energy, social equity and the ecological underpinnings of all life.

Renewable energy sources like wind and solar and biomass are making real progress in the marketplace around the world, he said, pointing out that the growth of these technologies is extremely impressive.

New technologies

"We are also seeing a new wave of hybrid and bridging technologies in power plants, waste management, and transportation, which have the capacity to significantly reduce pollution levels and mitigate greenhouse gas impacts," he said.

Maturity

About the US and Euro-pean financial crisis, he said the worst was over, and the US economy is improving, though at slow pace. "Unemployment levels are decreasing and the banking sector is stable due to strict federal regulations in the past few years," he said, advising American banks to lend to SMEs [small and medium enterprises] and individuals.

"Our banking system is now safe, and there is no banking crisis. There are signs of maturity and some investments are flooding to the US due to the stability of the economy and due to the confidence in the market," he said.

Profile

Richardson served as US secretary of energy and also as US ambassador to the United Nations, where he handled sensitive Congo transition negotiations and dealt first-hand with the Iraqi weapons of mass destruction issue in the UN Security Council.

Earlier in his career, for 15 years he represented northern New Mexico's Third Congressional District.