Rising Fossil Fuel Prices Boost Prospects for Renewable Energy

Wind, solar, geothermal and other green power sources have long been championed by people worried about smog and global warming, but until recently they were too costly to compete...

Published: 15-Oct-2004

oil reaching a record-high $54 a barrel and natural gas doubling in price in the last two years, renewable energy is looking a lot better - not just on environmental merits but on price.

Wind, solar, geothermal and other green power sources have long been championed by people worried about smog and global warming, but until recently they were too costly to compete.

But the soaring cost of fossil fuels is changing the economics of the energy market.

"Rising fossil fuel prices are making renewable energy more competitive in the power market," said Steve Taub, an alternative energy analyst at Cambridge Energy Research Associates.

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