Jolly Green Giant?

Google who's mantra is "don't be evil" is upping the ante by pouring millions into a 'green initiative' that they're calling RE(<)C, which means renewable energy that costs less than coal. I first read about this yesterday at CNN.

SocialFunds, an investment group devoted entirely to socially responsible investing, labeled Google as the Jolly Green Giant, but also had an interesting piece regarding the 'green-print' of Google's plan. The man power let alone the money the conglomerate plans to invest is incredible.

In 2008 alone, the Internet search company plans to invest tens of millions of dollars, in part, with the hiring of 20 to 30 engineers, scientists, and others to help investigate and create these technologies. Currently, Google has jobs openings listed for Renewable Energy Engineer, Head of Renewable Energy Engineering, Director, Green Business Strategy & Operations, Director of Other and Investments Manager for RE.

According to Google, they're already on track to meeting another green goal, that of being carbon neutral by the end of '07.

But the language and posturing seems a bit more vindictive than just conscientious investing in green technologies. Google asserts that they will have the capability to meet RE(<)C within years not decades. Look out America's Power, Google is after you!

But they're not looking to getting into the Utility business specifically but to profit from the licenses of the technologies they help fund and create. "If we achieve these goals, we are going to be in the (electricity) business in a very big way..." the Google Boys said to CNN. That article also states:

Google's initiative will likely stand out because of its financial muscle and its renowned brand, said Nicholas Parker, chairman of the Cleantech Network, a group that tracks investments in alternative energy.

"This is like a shot across the bow," Parker said. "It shows there are people willing to put their oars in the water to get the job done."

How exciting!

To follow the news, visit Google.org, the company's philanthropic arm. Who knows, perhaps this news will be a boost for Congressional Greens in overcoming the Coal Industry's vice-like grip of Southern Congressional leaders.

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