FORBES PUBLISHER SPEAKS BEFORE FOUNDATION        9/15/08

 

The Southwest Initiative Foundation brought in the publisher of Forbes Magazine to be the key note speaker for their Leardership Event, which is being held at Southwest Minnesota State University.

 

Rich Karlgaard says that the future of renewable energy is still very tied to the price of oil. Karlgaard says investors want to find out where the floor is on the price of oil, before they make massive investments into the renewable energy, because they are worried OPEC could flood the market with oil and undercut them.

 

"I think America should pursue everything that makes sense, I don't think we should leave any option on the table," said Karlgaard. "But in the real world, they all have to compete against oil or whatever is lowest, and that makes investing in alternative energy difficult."

 

He says though even if there isn't a strong link to global warming, he feels that there is an economic reason to be pursuing renewables, and he says that time isn't far off.

 

"It (A Barrel of Oil) may go to 70 or 80 (dollars), but the long term trend is still up, so I think we are getting closer to the day, where people are willing to make investments," said Karlgaard.

 

Karlgaard is the publisher of Forbes Magazine, every issue of the magazine is read by 4.5-million readers.