U.S. to give $3 billion for renewable energy

The Obama administration said today it will give $3 billion in government funds for companies to develop renewable energy projects, as it aims to double domestic alternative energy production over the next three years.

Chinese automobile legend to launch green vehicles company in U.S.

Yang Rong, an exiled automobile tycoon from China living in the U.S. and former chairman of Brillance China Automotive Holdings Ltd, will announce in late July a plan to launch a new clean-tech automobile company in the United States, Reuters reports.

Shell urges additional carbon permits

Royal Dutch Shell's Chief economist Steven Fries, urged the U.S. Senate today to give oil refiners more than the 2 percent of permits to emit carbon dioxide that the industry was allocated under the climate bill passed by the House in June.