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Slump May Doom Clean Energy Initiatives

Some nations could fall back on fossil fuel

By Sarah Quinn,  Newser Staff

Posted Nov 25, 2008 12:25 PM CST

(Newser) – Just as global warming initiatives were gaining serious momentum around the world, the financial crisis looks like it's undermining both the political will and the math that support them, the New York Times reports. With gas prices plummeting, US automakers may be scaling back investment in new technology. In Europe, "industry is saying we can’t deal with financial crisis and reduce emissions at the same time," a UN official said.

Even alternative energy evangelist T. Boone Pickens has delayed plans for his giant West Texas wind farm. A meeting of environment ministers in Poland next week will demonstrate how much back-peddling there is on commitments to meeting goals. On the bright side, Barack Obama remains committed to adding green jobs as part of his economic stimulus package, and slowing energy demands could give developing countries "an opportunity to move away from coal," one economist says.

The tower of a church is seen between chimneys of a coal power plant near Duesseldorf, Germany.
The tower of a church is seen between chimneys of a coal power plant near Duesseldorf, Germany.   (AP Photo/Frank Augstein)
Wind turbines from the Maple Ridge Wind Farm tower over a farm in Lowville, N.Y., on Aug. 4, 2008. The $400 million Maple Ridge wind project is the largest in New York state.
Wind turbines from the Maple Ridge Wind Farm tower over a farm in Lowville, N.Y., on Aug. 4, 2008. The $400 million Maple Ridge wind project is the largest in New York state.   (AP Photo/Mike Groll)
Solar panels at a cemetery in Santa Coloma de Gramanet, outside Barcelona, Spain. The city council has installed 462 solar panels on top of the grave niches.
Solar panels at a cemetery in Santa Coloma de Gramanet, outside Barcelona, Spain. The city council has installed 462 solar panels on top of the grave niches.   (AP Photo/Manu Fernandez)
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If because of the current economic scenario, you choose cheap and dirty, we’ll be in big trouble. - Yvo de Boer, UN Framework
Convention on Climate Change

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COMMENTS
Showing 1 of 1 comment
Guest
Nov 28, 2008 4:06 AM CST
people are buying TRUCKS again. Stupid thinking as the problem must be addressed . the price of gas would be lower If we started on environmental & energy 20 years ago when we knew that we are borrowing from the future at a cost to future generations.

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