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Chilean leader upbeat on country's new energy resources

(Xinhua)

16:04, January 14, 2012

SANTIAGO, Jan 13. (Xinhua) -- Chilean President Sebastian Pinera predicted the country would be "immensely rich" in new energy resources in the future.

"Chile was a poor country in terms of traditional energies like fossil fuels, gas, oil, coal, but it would become immensely rich in new energies, " he said in an address to the country's annual energy dinner on Thursday night.

To that end, the president promised more government support, including more than 85 million U.S. dollars in new subsidies.

Pinera also stressed the need to develop hydroelectricity and thermal energy, but said he has no plan to build nuclear plant.

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