Investors Abandon Green Energy after Huge New Gas and Oil Finds

Suite101 ^ | Jan 20, 2011 | John O'Sullivan

[Ernest_at_the_Beach]

Huge new discoveries in gas, oil and rare mineral deposits see major investors and governments bail out of a collapsing green energy market. .imagelightbox {margin:10px 0px 10px 10px; float:right; max-width:300px; padding:10px 0px 10px 0px; border-top:1px solid #CCCCCC; border-bottom:1px solid #CCCCCC;} .midArticleBox {margin:10px 10px 10px 0px; float:left; width:300px;height:250px; padding-top:10px; border-top:1px solid #CCCCCC; border-bottom:1px solid #CCCCCC;}

Suggesting to readers that stories about any impending ‘peak energy’ crisis is just hot air Dr. Benny Peiser of the Global Warming Policy Foundation (January 20, 2011) presents a swath of news reports making uncomfortable reading for environmentalists and green investors.

European Governments Signal End to Renewable Energy ‘Bubble’

Peiser shows the rush away from green energy began in earnest in December 2010 when first a pro-green Spain slashed funding for wind projects by 35% and declared photovoltaic plants would be cut by 45%.

France then announced a four-month freeze on all solar projects. Then Germany announced it might discontinue the solar industry’s sweetheart tariffs in 2012. The German Energy Agency, the country’s official advisor on renewables called for Germany’s drive toward solar to be “cut back quickly and drastically.”

‘Virtually Impossible’ to Cap Carbon Dioxide Emissions

According to theGlobal Warming Policy Foundation(GWPF) Dr Fatih Birol, chief economist of the International Energy Agency. told an assembled London audience that it was now “impossible” to meet targets to restrict agreed limits on emissions of carbon dioxide.

Birol conceded that as the eco-energy market stumbles the traditional energy sources show a sudden surge in reserves.Birol blames the shale gas boom in the US that has led to a 50% drop in investment in renewable energy. "There's suddenly much more gas available in the world than previously thought."

One notable investor at the head of the rush is Bill Gates....

[Ernest_at_the_Beach]

Thackney,bobthenailer...does this track with what you see?

[Sacajaweau]

Bill Gates?? aka Mr. Green in the Counting House...

[Ernest_at_the_Beach]

Related threads:

Shale gas boom on ( IEA says 250 year supply possible Globally)

And:

Renewables Won't Keep the Lights On

And:

Will High Costs Kill Merkel's Green Revolution? ( Germany and Green Energy )

[JPG]

Follow the money. Always follow the money.

[NormsRevenge]

but.. but .. but..

[thackney]

I wish I saw more of this in the US. Most of our projects are outside the US borders.

[SaxxonWoods]

One caveat, and those in the biz will have better detail on this: The new discoveries will be more expensive to produce than the old pay deposits. They will still be cheaper than so-called green energy, but they will result in higher retail prices in the future.

[lurk]

These discoveries, combined with the continued development of algae and microbe-based energy sources, are good news.

[Ernest_at_the_Beach]

See this...and post #10 and #15:

Solar fades as shale gas flares

[Leisler]

Lord Saint Algor, very very sad. :(

[Marine_Uncle]

"One notable investor at the head of the rush is Bill Gates who thinks that there is better money to be made in advanced oil exploration technologies according toAl Fin Energy 19 January 2011."
Oh. Now now. Billy. Your a traitor to mother earth. Shame on you. Dr. Hansen is going to be very saddened by your decision.

[steelyourfaith]

Thanx Ernest_at_the_Beach !

 

Beam me to Planet Gore !

[SaxxonWoods]

Thanks.