The renewable energy market was a very popular and strong market in the past years but has been struggling in recent years due to the economic crisis and the rise of abundant natural gas. Jose Manuel Entrecanales, the chief executive of Acciona, a major engineering company that operates wind farms worldwide, showed from a study done by Ernst & Young that investments in wind energy are better for some nations’ GDP than those in natural gas. Leaders of the oil and gas industry responded by stating that such resources are overpriced and that extracting unconventional gas can be done safely, producing low levels of carbon. Reasons why many companies find natural gases to be preferable to renewable resources is because it’s readily available, while the newer eco friendly methods are have not been around as long, causing companies to be hesitant. However, as discussed in class, being green doesn’t just mean being green. It’s a way to attract more customers and build a stronger relationship with them. One false move of harming the environment and the general public can retaliate with great force, costing millions of dollars to a company. Therefore, companies should work towards using clean energy, for the well being of both the environment and for the health of the companies.

Source: New York Times