IEA chief says oil-price collapse has delayed renewables

02/16/2009 | Reuters

International Energy Agency Director Nobuo Tanaka said Monday the drop in oil prices has delayed development of alternative-energy sources. "Unfortunately, we are seeing a deceleration occurring in the switch to renewables -- and also nuclear -- as both are very capital intensive," Tanaka said. "While the economic slowdown itself serves to reduce CO2 emissions, if we don't invest now we will have serious problems in the future."

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