BP Oil Spill Tragedy - What Lies in Store for the Renewable Energy Industry?
Summary
The BP Oil Spill has intensified the concerns of the US energy sector about their dependence on crude oil. As crude oil and natural gas accounts for approximately 50% of the US energy market, and the Gulf of Mexico offshore accounts for approximately 30% of the total US crude oil production and 13% of the total US natural gas production, the Gulf of Mexico tragedy has caused the government to rethink alternative sources of energy to bridge the demand-supply gap. Thus, US energy market is expected to increase its investments in its renewable energy market in order to switch to cleaner fuels. However, in the short-medium term, there may be an increased focus on natural gas.
Scope
- BP Oil Spill Statistics - Reasons for the delay in the US offshore drilling plans - Positive impact on the renewables market - The US increased dependence on fossil fuels in the short-term
Reasons to buy
- Identify key growth and type of investment opportunities in the renewable energy sector - Position yourself to gain the maximum advantage of the industry’s growth potential by developing strategies - Facilitate decision-making based on upcoming market developments in the renewable energy sector
