Does BP's discovery dampen enthusiasm for alternative energy?

[solarpanelqtr]

Hi.

Just a quick one.

On the back of the BP oil discovery, I wondered if such finds damped the publics appetite for alternative energy?

Will consumers feel 're-assured' by traditional fossil fuel discoveries and be complacent about supplies running out, and therefore put off seeking out alternative energy generation solutions for their homes and businesses?

What's your feedback?

Jonathan.

[russ]

The BP discovery while large is a few days supply for the world.

If it turns anyone off alternative energy then they were not very interested to begin with.

[sunman]

I don

[ChrisPSolar]

I actually think it helps renewables indirectly. What they don't mention about that discovery is the massive expense of a well that deep. Oil companies can spend 20-100 million on ONE HOLE in the ocean. There will be many more discoveries of deep oil, but the cost will surely go up. We won't run out of oil, it will just get prohibitively expensive, espically if we capture the true environmental cost of it in the price (ie cap and trade, carnon tax). IMHO

[Aussie Bob]

Totally agreed Chris. Eventually self renewing energies will be the most cost effective forms of energy, and the market will react accordingly. We're a fair way from that point, but we'll reach it eventually in the coming generations.

[solarpanelqtr]

Hi Chris

Don't get me wrong - I'm all for renewable energy - we should be spending more on research and development as a matter of urgency etc.

Your comment about it becoming too expensive to drill for oil rather than running out - I'm sure I've heard that before but that doesn't seem to be putting the oil companies off so far.

Lets hope eh?

Jonathan - solar panel quoter.