Uncertain Economy?

How does the bottoming economy effect business’ ‘green’ plans, whether real or perceived? There is no concise answer; many experts offer different opinions.

In an interview with TIME Magaazine, Paul Maeder of Highland Capital, a venture capital firm built around green investments, warns that, “The […] industry is at risk because of a real lack of access to capital.” An article from the Associated Press in October warned that the recent downturn in the economy would, “at the very least, […] push back when […] reductions would have to start.”

Michael Klare of the Huffington Post can even seen a upside. He writes, “The good news is that economic hard times will cause people to drive less, fly less, and otherwise consume less energy, thus lowering expectations for greenhouse-gas emissions.”

This belief may be off-set by recent fluctuations in the cost of transportation. The price of oil has seen a rapid plunge from a record high of $137 a barrel to as low as nearly $50 a barrel. The recent deflation of gas prices in recent months has some experts worried that the nation will ‘forget’ about the necessity of reducing our dependency on fossil fuels.

With the price of oil dropping so fast, some worry that investment in alternative sources of energy may be discouraged, as the perceived necessity of them slowly dissipates. However, the long term savings aspect is one that has been played up to emphasize the necessity of greening industry despite tough economic times.

Emily Smith of the Connecticut Clean Energy Fund, in an interview with the Republican American, warns that, “It’s not just about today. It’s about the future, and reducing our dependency on fossil fuels is not only better for the environment but cheaper in the long run.”

In The End

There is little doubt that this ‘green’ phenomenon is more than just a temporary trend. In increasingly dark and desperate times, it should be of no surprise that not every company is honest in its attempts to better the environment and our planet. While bodies like the FTC and independent watchdog groups provide some barriers of honesty, the responsibility of determining what is truly ‘good’ for the environment ultimately rests with the consumer.