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OPEC: Friend or Foe of Clean Energy?

By Terrence Murray ecomii.com
November 11, 2008
File under: Oil Industry

opec

Last month in Vienna, Opec members agreed to cut production by 1.5 million barrels per day in an effort to halt the price slide that since July has seen oil trade at less than half its July value of more than $140.

With oil making a comeback as a relatively affordable commodity, how does this impact the development of clean energy as a viable and profitable business?

After decades in the wilderness, green energy has become a Joe six pack energy source and shed its reputation as crunchy, and alternative. High oil prices and a growing awareness of climate change issues have helped shift this perception. That’s been good for the industry, the environment and consumers.

While low oil prices weaken the economic and business rationale for wind or solar generation, this time around there is unprecedented …read more of OPEC: Friend or Foe of Clean Energy? here

 
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