The Good, The Bad And The Ugly Oil

Environmentalists, conservatists and Earth lovers alike are keeping optimistic about the latest price hike of crude oil. What would be the bright side of paying $100 a barrel when a little less then a year ago it was priced at $50 bucks?
Clean, renewable energy is getting a hefty increase of public affection.
"As-fired electricity becomes more expensive, there are more and more places where you can build wind farms that are competitive or cheaper," said Steven Sawyer, executive director the Global Wind Energy Council (GWEC).
In 2007, complete installed wind power capacity increased from 74 gigawatts to between 92 and 93; approximately a 25% increase as compared to 2006.
But finding an alternative energy source is not the only conservation attention -grabber as a result of heightened oil prices. The recycling (I like to call: freecycling) biz gets a major boost in donated material, especially plastics. Plastic is made from oil and gas. When there is a price increase of plastic ingredients there is also a greater incentive to recover.
"Prices for plastics of all kinds have doubled in the last 10 years," says Peter Sundt, secretary general of the European Association of Plastics Recycling and Recovery Organisations (EPRO).
One last positive before I point out a negative: An increase in oil prices also causes garbage programs to be more specific, meaning you can't throw out freecyclable material of any kind.
The negative to the heightened oil prices besides the obvious?
"High oil prices also make really nasty oil and petroleum development projects financially attractive," states Steven Sawyer. Source.