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Over 16,000 visitors came to the summit, nearly 50% more than the previous year. And at the center of it is Abu Dhabi's own Masdar Initiative - named after the city of Masdar, a newly built green metropolis designed to be a center for clean technology. Even though the petroleum-rich emirate is suffering through plummeting oil prices - now a little over $40 a barrel, down a hundred dollars from a half a year ago - its leaders say they remain committed to expanding Masdar. "The current financial crisis has absolutely no impact on our planned projects," says Sultan Ahmed...
...reality, the global economic downturn has hardly left the nascent alternative energy sector untouched. Developers here say that financing for new wind farms and solar plants remains all but frozen, halting tentative plans in the U.S. and Europe to expand clean power. The WilderHill New Energy Index - a fund that tracks the stock performance of selected clean tech companies - is down more than 60% since its peak in November of 2007, slammed by the double blow of the loss of venture capital and the reduced urgency for energy alternatives as the price of oil has tumbled. Clean tech startups have...
...tariff, which guarantees that utility companies will buy renewably generated power at above market rates. But further growth could stall. Corn ethanol in the U.S. - which many environmentalists believe doesn't deserve the term "renewable" - has cratered, also hurt by rapidly falling gas prices. Most of all, however, clean tech businesses generally lack the political weight to jostle for the bailout funds won by older and bigger industries like the automobile manufacturers. "It's just tough for them to be heard," says Steve Sawyer, the director general of the Global Wind Energy Council...
...evening, Brian Waters, a mailman, sat with his 9-year-old son in a booth. The bright dining area featured abstract paintings of New York City's bridges and the Statue of Liberty. "It used to be dark and drab in here," Waters says. "Now it's nice and clean. I don't mind sitting here anymore." Stores have also extended hours: 34% of the company's 14,000 U.S. restaurants are now open 24/7. (See the top 10 food trends...
...President announced another clean break with the Bush Administration, on foreign policy. Summoning the wisdom of "earlier generations," he said, "They understood that our power alone cannot protect us, nor does it entitle us to do as we please." Take that, Dick Cheney - who exited the scene in a wheelchair, looking grim, as if he were about to foreclose on someone. Obama piled on several foreign policy zingers when he denounced the "false ... choice between our safety and our ideals" - a reference to Bush's harsh treatment of prisoners - and in his message to the world: "We are ready...