Linked Header

Wednesday, February 12, 2014

Oil Instability A Major Cause For Concern

Ever since the early 2000s, the price of oil has fluctuated wildly depending on what's going on in global politics, weather conditions, changing markets, and other factors.

Colleen Mitchell of the Atlantica Center for Energy explains when the Coleson Cove Generating station was first being thought of back in the mid-1970s, crude oil was a fraction of what it is today at just $3 per barrel. The engineers working on that project couldn't have anticipated oil going for as much as $100 per barrel, as it is today.

 Mitchell says one way to be immune to these market fluctuations is for New Brunswick to look at stable, cost-effective energy sources like biomass, wind, solar, and biofuels.