Falling oil prices, idle drilling capacity … curse or blessing for geothermal development?
Thousands of drilling rigs are currently idle and oil prices continue plummeting. What will the impact be for geothermal?
Bloomberg reports on the oil price being below $50 and is about to get worse … (See here) it talks about hedge funds growing pessimistic and so is the industry.
So the question is what does this mean for renewables and how will geothermal be able to attract those investments and profit from idle drilling capacity, e.g. in the U.S.?
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