There are several envrionmental benefits that accompany using alternative engery. However, what some people fail to realize is that there are also numerous economic benefits that "going green" promotes.
In an article titled, "Everything's Gone Green" published in Business and Finance this issue is further explored. High fuel prices, crisis in the Middle East, and political insecurity have recently caused the United States economy to spiral out of control. As Americans across the country pull into gas stations to filll up, it is becoming increasingly obvious that gas prices are reaching record highs.
Investment banking groups are not letting this energy switch go unnoticed. Groups such as JP Morgan and Citigroup are establishing investing task forces in an effort to invest in alternative engery. These companies are seizing the chance to capitalize on the current "green" trends. Investment firms are jumping at the chance to get a piece of the financial pie as new energy sources such as wind-power turbines, hydro-electricity, and biofuels become more commonly used.
The CFO of Ecosecurities, Jack MacDonald commented on this occurance when he stated, ""With costs of energy going up dramatically, renewable energy is becoming more cost-effective than fossil fuel and is driving the development of renewable projects globally. Also, with climate change in the background, companies are increasingly focusing on alternative energy to reduce their carbon emissions footprint. The biggest investments being made are in sectors such as wind power, hydro projects, biomass, energy efficiency and the solar industry."
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