Why the big oil price drop now? Psst! Its an attempt to derail green, alternative energy development. Must-read Financial Times report! Link: ft/cms/s/0/d328ee8a-8605-11e4-a105-00144feabdc0.html#ixzz3MGc7ImCt |Registration required.| ..For the moment, it is still too early to be able to discern a meaningful impact on renewable investment trends from falling oil prices. But at first glance, history suggests the impact could be serious. A jump in crude prices during the 1970s Arab oil embargo prompted what looked like a new age of green energy, not least in the US. Solar panels went up on the roof of the White House then occupied by President Jimmy Carter, while a raft of energy conservation measures were launched and insulation rates rose. As oil prices came down, however, so did the White House solar panels, under President Ronald Reagan, along with investment in a nascent wind and solar industry. Sales of gas-guzzling vehicles, on the other hand, climbed. More in comment below.
Posted on: Thu, 18 Dec 2014 16:22:17 +0000
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