OIL GLUT THREATENS GREEN ENERGY HOPES The renewed abundance of - TopicsExpress

OIL GLUT THREATENS GREEN ENERGY HOPES The renewed abundance of oil worldwide poses a threat to the green energy revolution pushed by extremists who oppose fossil fuel use. Historically, consumers respond to cheaper gasoline by buying larger, more powerful, more luxurious vehicles and by driving more. In addition, lower oil prices and greater abundance lead to a decline in support for more expensive, less efficient biofuels. The oil glut also means the price gap between fossil fuels and renewable energy sources will expand, resulting in less support for continued subsidies and mandates for green energy. Environmental radicals’ pipe dreams of a green energy economy are going up in smoke as the public falls back in love with the freedom and prosperity cheap oil fosters. SOURCES: The Independent (UK); Triple Pundit triplepundit/2014/12/2014-oil-price-collapse-threatens-sustainability/

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