Oil prices are hurting U.S. wind power

SAN FRANCISCO, Oct. 27 (UPI) -- Falling oil prices are impacting U.S. renewable energy industries.

Three months ago renewable energy leaders were encouraged by high oil prices causing people to turn to alternatives. Last month they were concerned about the economy hurting their businesses.

Now, as oil prices have plunged over the past few weeks, renewable leaders fear their alternatives are not as appealing as they were just a few months ago, the San Francisco Chronicle reported.

Fears are spreading that if prices of oil and natural gas do not rebound soon, the future of fuels like cellulosic ethanol and biodiesel will begin to look gloomy, as well as solar and wind power projects.