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Page added on October 21, 2004

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As oil rises, cleaner energy surges

Business

Although alternative fuels still make up a small fraction of US energy supplies, they are growing at a 30 percent rate compared with 4 percent for oil and 6 percent for natural gas. The projects are especially popular among states with governors opening up new wind farms and farm-belt ethanol refineries. But it’s not just a political fad. The cost of many of the alternative fuels is approaching that of oil and natural gas. That competitiveness, combined with congressional renewal of a key tax credit, has business signing contracts to build everything from new wind farms in Iowa to solar farms on top of FedEx terminals.

Christian Science Monitor



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