WASHINGTON — Clean energy is struggling to survive in Peru, where the leftist president Ollanta Humala is facing significant hurdles to use Peru’s natural gas reserves.
Reuters reports that Humala’s $11.5 billion plan to use natural gas reserves to try to develop the small Andes country is facing a reborn U.S. shale gas revival, militant and leftist guerrillas that threaten to disrupt development and rocky negotiation process with energy firms.
Humala made Peru’s natural gas revolution a main selling point for his 2016 presidential re-election bid, but it seems unworkable for the time being. The U.S. shale boon is making the primary selling point of natural gas irrelevant since the necessity and demand for natural gas is decreasing.
Meanwhile, clean energy has disappeared in the U.S. after the collapse of insolvent energy firms like Solyndra and today it is a forgotten issue in the U.S. Now, the American shale revival is boosting North Dakota’s economic prospects in the near future.