Level Playing Field for New Energy Technology: Turner
The government has to level the playing field in order for the alternative energy industry to become competitive, Ted Turner, founder of the cable television network CNN, told CNBC Thursday.
"We're still subsidizing the coal and the oil industry and we should stop doing that and make sure that with fees or with 'cap and trade' that the true cost of the pollution that comes from burning coal and oil is covered by the users," said Turner, in a wide-ranging interview that touched on topics including the earthquake in Haiti and the future of cable news networks.
Turner is an investor in solar energy and chairman of the United Nations' Foundation. He was accompanied by former U.S. Senator Tim Worth, the foundation's president, who will be discussing climate change at a United Nations conference Thursday with investors and financial leaders.
Worth said it is important for investors to understand the nature of climate finance because it will spread very rapidly.
Among solar and wind, Worth said there will also be opportunity in nuclear power.