By Andrew Follett – Re-Blogged From http://www.CFACT.org
Cheap coal, oil and natural gas are outcompeting wind and solar power despite massive government support, and environmentalists are really upset about it.
“I believe low energy prices may complicate the transformation, to be very frank, and this is a very important issue for countries to note; all the strong renewables and energy efficiency policies therefore may be undermined with the low fossil fuel prices,” Fatih Birol, the executive director of the International Energy Agency (IEA), told reporters in Brussels.
Americans are spending less on energy than they have at virtually any other point in recent history. Energy prices dropped by 41 percent in 2015 due to innovative new techniques to extract hydrocarbons, like hydraulic fracturing and horizontal drilling.
Environmentalists are also terrified that the rise of cheap conventional energy will hurt wind and solar.