ReGen Power

The ongoing crisis in the United States surrounding BP has to be a wakeup call for our addiction to the black stuff. We are all going to suffer the fall out one way or other, whether it’s a hit on our pensions, or ultimately the price we pay for fuel at the pump. No doubt the other oil companies will be thinking ‘there by the grace of god’. It appears that none of the big providers have put enough effort into risk assessments and we will find out in years to come that this was the usual disaster waiting to happen. Of course what we should be thinking about is how we can reduce our dependence on an energy resource that will become increasingly difficult and consequently more dangerous to extract. Surely now is the time for investors, fund managers and banks to realise the opportunities that renewable energy presents. I am not naive enough to think that everyone will switch to greener consumption because it is good for the environment. People on the whole are selfish and will only make the move away from oil if priced out of the market or if financially the switch makes economic sense. However, with the current mood in the US, especially from a President who makes the comparison of the oil spill with 911 now must be the time to push the alternative energy agenda. We all know that if the US start to change their own habits, chances are that we will follow.