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In February, the Obama administration announced its so-called Clean Energy Investment Initiative, a program that was seeking to generate $2 billion in commitments from the private sector to help spur clean energy innovation.
Just four months later, it seems, investors have willingly answered the call twice over amid rebounding interest in renewable energy.
The Obama administration said today that a collection of philanthropic groups, universities, and for-profit institutions have committed $4 billion to invest in clean energy. These are investments that might not fit in the average investor's portfolio. Instead, the money will fund things like solar, wind, and fuel cell technology, the type of potentially transformative innovation that all too often never sees the light of day because funding dries up.
Original Submission
(Score: 0) by Anonymous Coward on Wednesday June 17 2015, @07:22PM
During the 1970s, oil was used for power generation, house heating, and cars. After that, coal and natural gas are used for power generation. Natural gas was used for house heating. That leaves just cars. Cars have become somewhat more efficient. However, world wide, car driving has increased, to offset those losses. Until recently, the price of oil was as expensive as it was during the 1970s. This time, the economic troubles from high oil prices were milder (there are other problems now.)
Internal combustion engines are cheap. For the infrequent driver, they are good enough. Even if gasoline costs $7/gallon.