Green energy pivotal, Scotland says

Sept. 28, 2010 at 12:37 PM
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EDINBURGH, Scotland, Sept. 28 (UPI) -- The sooner investors line up behind Scotland's green energy ambitions the better, the Scottish first minister declared.

Scottish First Minister Alex Salmond welcomed more than 450 delegates to a low-carbon investment conference in Edinburgh.

With North Sea oil and gas reserves on decline, the first minister said the green energy marks a "pivotal turning point in human history."

He said that until now, the global community was dependent on dwindling carbon-based energy resources for fuel.

"More recently, has (come) the realization that our overuse of carbon and dependence on petrochemicals threatens the climate itself," he warned.

He said an offshore wind industry group laid out a road map for Scotland to release nearly $300 million in fossil fuel levy funds.

"The sooner the funds are unlocked, the sooner we can use them to leverage greater levels of investment in our ports and other infrastructure," the first minister added.

The Scottish government said it expects the global energy market to attract some $6.8 trillion in investments by 2015.

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