When the energy shocks of the late 1970s faded and gas prices dropped, cars began to bloat up. Ethanol lost Congressional funding. The nation's commitment to alternative energy faded fast. Are we poised to repeat the past?
According to a new study released today, things will be different this time around. Cambridge Energy Research Associates released "Crossing the Divide: the Future of Clean Energy, which maintains that climate change is spurring an investment that could reach $7 trillion by 2030. Carbon policies will fundamentally change the landscape for industry. Renewable power and biofuels could supply 16 percent of the world's electric and transportation fuel by the same year.
Is this hooey? According to Daniel Yergin, CERA Chairman, the magnitude of investment is “providing a vital impetus that is moving clean technology across the great divide of cost, proven results, scale and maturity that has separated it from markets served by mainstream technologies and processes.”
Source: CERA , via the New York Times
