The New York Times has a cautionary tale about green jobs. The Spanish solar industry had revived an old energy mining town; now the boom has gone bust.
“But as low-quality, poorly designed solar plants sprang up on Spain’s plateau’s, Spanish officials came to realize that they would have to subsidize many of them indefinitely, and that the industry they had created might never produce efficient green energy on its own,” the Times reports.
Not all of Spain’s solar’s players have been swept out to sea, however. A few have restructured and are surviving.
Ethanol, an often maligned answer to fossil fuels, is on the rebound, according to Bloomberg. Falling prices costs Bill Gates a cool $44 million but Valero, a larger ethanol producer, stands to make a profit as demand rises.
“Four years after George W. Bush made ethanol a centerpiece of his presidency’s push to cut dependence on foreign oil, three of the biggest producers have sought bankruptcy protection and prices have fallen 61 percent from their mid-2006 record. Now demand is rebounding because ethanol is almost 66 cents cheaper than gasoline, the biggest discount in 14 months,” Bloomberg reports.