Low oil prices will stymie innovation, proving disastrous for the environment. - Inspired by renewable energy analysts

Plummeting oil prices and the current economic crisis are already posing problems for the alternative energy sector. As oil prices drop so do the incentives for people to buy more expensive renewable energy. Oil prices have fallen by half since July of this year. "Government funding for renewables is now going to have to compete with levels of government funding in other areas that were unimaginable six months ago,” Mark Flannery, an energy analyst for Credit Suisse, told the New York Times.

The credit crisis is undercutting resources for alternative energy firms. To make matters worse, while Congress has renewed tax credits for oil and gas, those for wind and solar energy expire in December. “These credits are critical because they ensure that if oil prices slip back down again — which often happens — investments in wind and solar would still be profitable. That’s how you launch a new energy technology and help it achieve scale, so it can compete without subsidies,” writes Thomas Friedman.