Steve Chu says US faces "Sputnik moment" with clean energy

The U.S. Secretary of State for Energy, Steven Chu, gave a speech at the National Press Club yesterday, in which he warned that "time is running out" in the race for clean energy technologies.

Dr Chu said that America may face another "Sputnik moment". In 1957, the USSR launched Sputnik 1, the first earth-orbiting space satellite.

A Nobel prize-winning physicist, Dr Chu believes that China and the E.U. may take the lead in clean energy technologies.

"Given the enormous economic opportunities in clean energy, it's time for America to do what we do best: innovate."

See also: China winning race for green jobs