A report released by Cambridge Energy Research Associates, concludes that investments in green energies will be pushed, not only by the oil shock, but also because of a greater demand. What makes today different from the 1970’s is that people are worrying about global warming, thus they will be ready to pay a clean energy more expensive. “The report projects that rising private and public investment in clean energy could surpass $7 trillion by 2030″. In 2007, $125 billion was invested worldwide. This is 20 percent more than 2006. The investment will be focused on wind, geothermal and solar power, bio-fuels, nuclear energy and techniques to capture and store carbon emissions.
Such investments will be necessary to absorb the stronger energy demand in new industrialized countries. It is also interesting to note that nuclear power has become a clean energy as we focus now on reducing CO2 emissions. Twenty years ago, classifying this energy as clean would have created a revolution.
Source: International Herald Tribune, Wednesday, February 6, 2008.
A Ford said,
February 20, 2008 @ 9:10 pm
With Oil topping $100 a barrel again today the alternatives such as geothermal will continue to be a investment target.
Yes it will be interesting to see how developing countries such as India meet there energy needs with green energy projects!