Big Business Fuels Green Boom

Fear of dot-com-like bust grows as money chases scarce ideas
By Colleen Barry,  Newser Staff
Posted Sep 1, 2007 5:17 PM CDT
Mist covers the cloud forest at Monteverde Cloud Forest Reserve, Costa Rica, Thursday, May 24, 2007. Costa Rica plans to enter the market to sell Carbon bonds to industrialized nations that need to reduce...   (Associated Press)
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(Newser) – Greed and idealism are converging as big business propels today’s clean energy industry, CNN reports. Silicon Valley entrepreneurs are pulling in capital for oil and coal alternatives, while across the pond, London financiers swapped more than $30 billion last year in "pollution permits"—credits companies can sell if their factories produce less pollution than permitted.

Critics fear that today’s green market boom could inflate and burst like the '90s dot-com bubble. "There's a lot of money chasing not so many ideas, so the prices are going up fast,” one analyst says. Some experts fear that a drop in oil prices could undo progress in fossil fuels. The UN plans to fight off such concerns by forging another treaty to replace the Kyoto Protocol, which ends in 2012.