Saturday, January 15, 2011

Much talk -- no progress -- fossil fuel still the rule

Analysis: Roaring fossil fuels outpace green energy | Reuters: "(Reuters) - Fossil fuel investments will continue to outstrip low-carbon alternatives this year, darkening a sector struggling to shake off the financial crisis and sagging political momentum on climate change.

Soaring fossil fuel prices, where the European oil benchmark is pushing $100 a barrel, favor oil and coal producers, while falling gas prices have undermined wind power generation especially in the United States.

And the financial crisis has hit capital-intensive renewable energy projects, trimming demand for wind turbines, while the near-term solar future is clouded by cuts in European subsidies."