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Alternative Energy Funding versus the Price of Oil

 

Published 3/9/2009 at Scientific American - Environment

It’s happening again. In the 1970s, when oil prices soared, Americans started pursuing alternative energy technologies. But when prices subsequently dropped, so did the promising projects. As recently as six months ago consumers, CEOs and politicians were hell-bent for green technologies, but then the recession worsened, oil prices plummeted and calls rose to postpone clean tech options. Begging off now would be a terrible waste. In an incredibly short time, impressive business, technological and political gains have been made. Venture capital investment in clean tech hit an all-time high in 2008. Airlines are making test flights powered by biofuels. And President Barack Obama--exploiting unprecedented political will to clean up the planet--has promptly set the federal government on a course to confront climate change. [More] (link)

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