Energy Secretary Steven Chu called today for more government action to promote green technology and warned that a failure to do so would damage U.S. potential to cash in on the new green economy.

Chu, a Nobel Laureate in physics and former University of California-Berkeley professor, told a National Press Club audience that the United States has been “the greatest innovation machine in the world” and that this has been at the heart of American prosperity for more than a century.

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