26 May '11, 9pm

Higher oil prices aren’t leading to higher clean energy investments… sadly, it’s quite the opposite

Higher oil prices aren’t leading to higher clean energy investments… sadly, it’s quite the opposite

There’s been a lot of investment and deployment in renewable energy technologies for power generation and for displacing petroleum products, but as far as we’ve come over such a short time, and as much as triple-digit oil prices are helping to accelerate the transition, the disturbing fact is that higher-priced oil is leading to dramatically more investment in dirtier, harder to access and riskier to extract heavy oil. So while we may be experiencing the beginnings of “peak” conventional oil we’re also seeing the word “conventional” being refined to include heavier crude, starting with the oil sands and now moving toward oil shale and heavy oil trapped in aging oil fields of the Middle East. My Clean Break column takes a closer look at this issue and comes to the conclusion that higher fossil fuel prices alone won’t wean us off fossil fuels, it will only make us go for dee...

Full article: http://www.cleanbreak.ca/2011/05/26/higher-oil-prices-are...

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