Green Energy Investment Overtakes Fossil Fuels
In 2008 wind, solar and other clean technologies attracted $140bn (£85bn) compared with $110bn for gas and coal for electrical power generation (source: Guardian). There was a slight drop in investment at the start of 2009, but this is apparently recovering.
Given this background, it makes the decision by many ‘big oil’ companies to pull out of renewables an odd one. I’m sticking with my prediction that they will become the vacuum tube manufacturers of the 21st Century – the fossilised energy industry.