U.S. President Barack Obama says natural gas can be a bridge from coal to a cleaner energy future.
Investors are showing it’s more likely a bridge to nowhere.
The country’s embrace of natural gas means less love for wind and solar. New investments in renewable energy sources declined 5 percent in North America last year to $56 billion, the lowest since 2010, according to Bloomberg New Energy Finance. By comparison, North American oil and gas companies spent $168.2 billion on exploration and production last year, more than double 2009, data compiled by Bloomberg show.