Google's big green energy goal: A distraction?

Google is announcing a new strategic initiative to develop electricity that's generated from renewable sources--wind, solar and geothermal systems--and cheaper than coal. This initiative, called the rather clunky Renewable Energy Cheaper Than Coal, will hire engineers, energy experts and "spend tens of millions on research and development and related investments in renewable energy." Meanwhile, Google says it anticipates "investing hundreds of millions of dollars in breakthrough renewable energy projects which generate positive returns." One question: Is Google the right company to be taking on this effort? Google co-founder Larry Page's answer on a conference call: "This doesn't count as search and advertising, but we do want to give our business some latitude to look into new areas especially when they... more

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