Green-Energy Blues
The RENIXX index, which measures 30 of the world’s largest publicly traded renewable-energy companies, fell 15% after what was perhaps the biggest environmental disaster America has seen. Many expected BP’s oil spill into the Gulf of Mexico to revive the urgency for a reduced dependence on oil. But the 15% had investors wondering “Is green-energy dead”? But what happened and what other factors contributed to the decline in shares? Even though the industry is still policy-driven rather than market-driven, the recession had many questioning whether governments will be able to afford the sort of environmental policies they have been promising.
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