LAS VEGAS–(BUSINESS WIRE)–With oil prices hovering around $40 per barrel, First Titan Corp. (OTCBB: FTTN) is looking hard at other energy markets in which to invest. One of these – renewable energy – could soon see a flurry of activity after the Obama Administration gave clean power a ringing endorsement.
The administration’s Clean Power Plan calls for a new three-pronged energy strategy designed to reduce America’s carbon emissions, which the government says negatively affect the Earth’s climate. The plan’s third prong advocates an aggressive ramp up of electric power generation from renewable energy sources, such as solar and wind, a market FTTN has considered entering.
“We’re watching these developments quite closely,” said FTTN CEO Sydney Jim. “These proposals mean the renewable energy segment could see a significant increase in activity. The American public and business community are ready to embrace clean, renewable energy and FTTN intends to be at the forefront of this industry. We see the potential for solid revenue growth as businesses and consumers make the choice to use clean power.”
President Barack Obama told Clean Energy Summit attendees the nation is using 20 times the solar energy today as it was using in 2009. He also boasted that one American home or business goes solar every minute.
To spur clean energy development, Energy Secretary Ernest Moniz said Washington would issue $1 billion in loan guarantees for projects using innovative renewable technology.
“These announcements indicate renewable energy is not only here to stay, but that it will soon start to enjoy strong growth,” Mr. Jim said.
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com.
About First Titan Corp.
First Titan Corp., through its wholly owned subsidiary, First Titan Energy, LLC, is committed to the exploration and development of oil and natural gas resources around the globe. The Company continually seeks to partner with energy developers that are pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods and unconventional resources.
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