Tough Times for Renewables, But What About Natural Gas?

I congratulate Steve Leone on his excellent article "Hazy Days Ahead..." on the many economic and political challenges facing the renewable energy industry.  Steve’s writing style has a wonderful personality; he’s a terrific addition to the REW team.  Here, his humorous opening about Rick Perry is really priceless. 

The article points out the numerous issues that conspire against clean energy.  Yes, we have a glut of solar panels, China’s malfeasance, the end of the 1603 program, EPA regulations on carbon dioxide, the potential end of Production Tax Credits for wind, potential changes to the Renewable Fuel Standard, and the unlikely prospect of a “high risk loan program” for geothermal.  

But we need to keep in mind that the promise of cheap natural gas, the chief competitor, has run into some pretty severe ecological issues associated with fracking.  In particular, we have recent revelations about the contamination of aquifers in Wyoming, and the earthquakes in the eastern U.S. which nearly caused canisters to break open which hold highly radioactive nuclear rods.  This would have caused a catastrophe of incredible proportion. 

When we get our wits wrapped around these dangers, we may choose caution over reckless greed, which would severely limit the availability of cheap gas. I’m not alone in my belief that the industry has grossly overestimated the amount of gas they’ll be able to extract over the coming years. That’s unless, of course, Rick Perry is elected, and environmental regulation is completely tossed out the window.

-- Craig Shields is editor of 2GreenEnergy.com and author of Renewable Energy - Facts and Fantasies, (published by Clean Energy Press, 2010)