Ahead of the first meeting of the newly formed Energy Council, Sweden's Minister for Enterprise and Energy Maud Olofsson invited US Secretary of Energy Steven Chu and representatives of the business sector to dinner. The purpose was to discuss how the council should work, how the business sector can contribute to a transition to a climate friendly economy, and how cooperation can be improved between the business sector and the state sector.

The decision to establish a new Energy Council was taken at the EU-USA summit on Tuesday. The council's first meeting will be held on Wednesday, 4 November. The aim of the new Energy Council is to develop cooperation in areas such as energy security and market issues, research on environmental and energy technology, and the spread of environmentally friendly technology.

“I am pleased that we have reached a decision on the Energy Council. Together, the EU and the USA have great potential to exert an influence. We have a combined market of 800 million people", said Minister for Enterprise and Energy Maud Olofsson in her opening address.

A second industrial revolution

“These are extremely important issues. It is time to convince people", said Secretary of Energy Chu in his speech at the dinner. He explained that the solution to the great depression in the 1930s had been to equip for war.

“But we have a better opportunity to emerge from the economic crisis now: a new challenge. We have a second industrial revolution ahead of us", said Steven Chu, referring to economic growth through the transition to an eco-efficient economy.

“This will require national will. The more developed countries must take the lead. We must come up with many new solutions."

Both Minister for Enterprise and Energy Maud Olofsson and Secretary of Energy Steven Chu will be part of the Energy Council.