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Ocean Energy Development Urged by Western Economic Region

August 8, 2004

The Pacific Northwest Economic Region, a public-private partnership comprised of western Canadian and American legislators, governments and businesses, is urging both federal governments to recognize and develop ocean-derived energy. The recommendation was formally adopted as a resolution at the recent PNWER summit held in Victoria, British Columbia.

The full wording of the resolution, brought forward at the summit by an energy working group, reads as follows:

PNWER 14th Annual Summit, 2004 - RESOLUTION 2004-8

Just as the Pacific NW plays a leadership role in the hydrogen and fuel cell technology development, the region has the potential to lead in the technology development and production of renewable energy from the ocean. Resource assessments show that Ocean Energy has a potential to play a major role in achieving a goal of 20% of electricity generation from renewable energy sources by 2020 for PNWER members.

Action Items:

1. PNWER urges Federal governments of Canada and the United States to implement a national Ocean Energy Strategy.

2. PNWER recommends to both federal governments to promote the development and use of Ocean Energy technologies. Specific provisions of this recommendation should include:

· Federal recognition of Ocean Energy as a renewable resource;

· Creation of an Ocean Energy program within the relevant Energy and Economic development departments;

· Streamlining of regulatory process for approval of Ocean Energy projects;

· Market incentives to spur investments in Ocean Energy technologies and projects, like investment credits, production tax credits, renewable energy credits, and alike;

· Federal funding sources for R&D and demonstration projects;

· Ask federal governments to establish pilot test areas for ocean energy development.

PNWER should develop a model to encourage member legislatures to adopt in the next legislative session.

For more information on PNWER and its activities, go to: www.pnwer.org

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