Market

An analysis of world oil reserves, published in Scientific American, shows that the Middle East is gaining increasing control of the market: its oil production rose from a low of 16% in 1985 to 27% of world total in 1996. As a result a big oil price rise is predicted before the world "midpoint of depletion" is reached. By the end of the next decade , oil production will start its decline as resource constraints bite. Wind will face stiff competition for this market from the other renewables, which are proving adept at lobbying for government support. PV, for example, attracts far more funding worldwide than wind. In Britain it is asking for capital grants of $8/Wp and a tariff of $0.16/kWh -- a subsidy which amounts to six times the total cost of wind and a price which is three times greater.

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