What happened to alternative energy investments from the 1970s?
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 1 June 2026
⏱️ 5 minutes
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Summary
The price of oil has gone up significantly since late February, when the US invaded Iran. And when oil prices see a crazy rise, it makes other sources of energy look more attractive. But we’ve been here before - back in the 1970s, oil prices skyrocketed, and people started to turn to alternative or renewable energy sources. But, for a few reasons, it didn’t stick. Marketplace’s Stephanie Hughes explores why.
Transcript
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| 0:00.0 | 50 years ago, alternative energy was the hot thing to be working on. |
| 0:06.0 | So, what happened? |
| 0:08.0 | From American Public Media, this is Marketplace Tech. |
| 0:11.0 | I'm Stephanie Hughes. |
| 0:16.0 | As you have heard and probably experienced, the price of oil has gone up significantly since late February when the U.S. attacked Iran. |
| 0:30.0 | When oil has a crazy kind of rise, it makes other sources of energy look more attractive. |
| 0:35.8 | We've had these inflection points before in U.S. history. |
| 0:38.9 | Back in the 1970s, oil prices skyrocketed. |
| 0:43.0 | So people started to innovate. |
| 0:45.1 | People were trying everything they could. |
| 0:47.7 | Cyrus Modi studies the history of science, technology, and innovation at Maastricht University in the Netherlands. |
| 0:53.6 | They were putting money into wind, solar, regular nuclear fission, biofuels, fuel cells, |
| 1:03.1 | kind of you name it. |
| 1:04.1 | Modi says there was lots of research being done by oil companies, but also any company that |
| 1:09.5 | could try to gin up some energy using whatever it had, |
| 1:12.7 | went for it. |
| 1:13.6 | So aerospace companies were getting into it. |
| 1:16.9 | So Grumman, for instance, got into wind power. |
| 1:20.5 | Some of the satellite companies got into solar power because they already had some |
| 1:24.6 | expertise in that. |
| 1:26.1 | Modi says even the potato brand, or Ida, maker of tater tots, |
| 1:30.0 | was trying to figure out how it could get into geothermal energy, |
... |
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