One of the things that contributed to the current recession is the volatility of oil prices. Diversification of sources of energy would reduce the volatility. All leading economies realize that. EU has joined the US, China, and Japan in search for better energy use and alternative energy sources:
BRUSSELS (Reuters) - Europe has launched a campaign to triple funding for energy research to 8 billion euros ($11.7 billion) a year in a technology race with China, Japan and the United States, but said industry would have to pay the bulk.
"We don't have much choice if we are serious with tackling climate change and remaining competitive," European research commissioner Janez Potocnik told reporters on Wednesday.
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