Bloomberg News

Rifkin Urges U.S. to Follow Europe’s ‘Revolution’ in Energy

May 10, 2012

The U.S. should follow Europe’s lead in boosting renewable energy as part of “the third industrial revolution,” according to Jeremy Rifkin, a Wharton Business School professor.

The European Union, which hired Rifkin as an adviser, is setting up internet infrastructure that millions of people use to share energy information and building electric car networks, Rifkin said after speaking today at a seminar in Seoul.

“The U.S. should not stay asleep, because fossil energy can not support sustainable growth,” he said. “Energy is expensive and volatile. You can’t grow with old second- industrial revolution, centralized electricity communications, fossil energy and old-type infrastructure.”

Sustainable growth will be available only when countries shift to the “third industrial revolution,” where energy information is a matrix available in all buildings, he said. People in the EU can share electricity across the region and plug in electric vehicles anywhere, which will create thousands of jobs, Rifkin said.

The EU is looking for renewable-energy partners in South Korea, he said. In the U.S., Rifkin advised the Democratic Policy Committee of the Senate on how to develop an exit- strategy from oil, according to his website.

To contact the reporter on this story: Sangim Han in Seoul at sihan@bloomberg.net

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net


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