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The economic slowdown casts a shadow over the prospects for clean technology
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by tj, Old Palo Alto,
on Nov 7, 2008
Big American utilities are slashing their investments in alternative energy. Florida Power & Light has cut its planned investment in wind power next year by 400 megawatts. Duke Energy of North Carolina has lopped $50m off its budget for solar power. And on October 31st VeraSun Energy, one of America's biggest ethanol producers, caught out by gyrations in the prices of corn and petrol (gasoline), filed for Chapter 11 bankruptcy protection.Web Link
I'm sure the absurd valuations of many of these clean tech companies, most of which have no revenue, will not be a factor going forward! Sound familiar!?
It does to me, fool me once, fool me twice
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