More support for renewable energies

Oil prices on commodity markets rose 20 percent last week in the wake of the unrest in Libya. The business paper Les Echos would have preferred it if the increased oil revenues had gone into promoting renewable energies: "At the tail end of an economic crisis that considerably shook up our priorities and relegated sustainable development to the back burner, this trend is bringing the limited supply of fossil fuels and the need to develop renenewable energies back into the public eye. The rise in oil prices has the same effect as the more virtuous carbon tax. ... The only difference is that as opposed to the stillborn French tax which could have redirected public investment into alternative energies, the 'Libyan tax' will go straight into the coffers of oil-producing countries in the Middle East. But at least some of these will be fledgling democracies."

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