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marvelgr

Opinion | We're in a Fossil Fuel War. Biden Should Say So. - The New York Times - 0 views

  • Russia’s invasion of Ukraine is a war enabled and exacerbated by the world’s insatiable appetite for fossil fuels.
  • Russia is a petrostate — its economy and global influence are heavily reliant on its vast reserves of oil and natural gas — and Vladimir Putin its petromonarch, another in a line of unsavory characters whom liberal democracies keep doing business with because they’ve got something we can’t live without.
  • The way out of this bind would also appear obvious and urgent. By accelerating our transition to cheap and abundant renewable fuels, we can address two grave threats to the planet at once: the climate-warming, air-polluting menace of hydrocarbons and the dictators who rule their supply.
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  • yet American politicians on the left sure seem incapable of drawing out this connection
  • In his State of the Union address shortly after Russia’s invasion, President Biden whiffed on a major opportunity to revive his stalled climate change agenda by underlining the geopolitical dangers of fossil fuels. His references to climate change — what he has previously called an “existential threat” to the planet — were buried under, rather than connected to, his comments about the war.
  • pundits on the right have had a field day with the notion that Russia’s invasion somehow points up the folly of focusing on climate change. The Wall Street Journal’s editorial board blamed “the Biden Administration’s obsession with climate” for making “the U.S. and Europe vulnerable to Mr. Putin’s energy blackmail” and wrote that “the climate lobby has made Mr. Putin more powerful.”
  • This could have been a moment for moral clarity on the dangers of fossil fuels — but so far, Democrats have fumbled that message.
  • “This narrative has not been out there — that this war is why we need to get off of fossil fuels,”
  • “More groups need to be connecting the dots, making the case that true energy independence is about running on sunshine, because sunshine is free and abundant and cannot be controlled by dictators.
  • such a message is likely to resonate with people. A study she and a co-author published online in 2017 examined the political factors that led to clean energy policies. “What we found was, overwhelmingly, these policies were passed during energy crises,”
  • the Democrats have yet to aggressively make the case for their proposals in the new context of war — to point out that climate policy is not unrelated to foreign policy, and that freeing ourselves from other people’s fuels is the best long-term solution to skyrocketing energy prices.
  • the ways in which fossil fuels make energy prices far more volatile and put us at the behest of powers and leaders that can act in ways that are dangerous and unjust” has rarely been more obvious.
  • “I started to think about the parallels between climate change and this war and it’s clear that the roots of both these threats to humanity are found in fossil fuels,” Krakovska said in the interview. “Burning oil, gas and coal is causing warming and impacts we need to adapt to
  • And Russia sells these resources and uses the money to buy weapons. Other countries are dependent upon these fossil fuels; they don’t make themselves free of them. This is a fossil fuel war. It’s clear we cannot continue to live this way; it will destroy our civilization.”
Javier E

Germany's Green Energy Policy Is A 'Disaster,' Says Man Who Helped Design It | The Dail... - 0 views

  • All of Germany’s subsidies and support for green energy have sharply increased power prices, with the average German paying 39 cents per kilowatt-hour for electricity. The average American only spends 10.4 cents per kilowatt-hour by comparison.
  • Germany’s power grid almost collapsed in January due to poor performance from wind turbines and solar panels, according to data from a major trade union. Wind and solar power plants under-performed that month because of cloudy weather with little or no wind, setting the stage for massive blackouts. The country’s power grid was strained to the absolute limit and could have gone offline entirely, triggering a national blackout, if just one power plant had gone offline.
  • Due to the inherent unreliable performance of wind power and political opposition to nuclear power plants, Germany has been forced to return to coal to generate electricity. Coal now provides 44 percent of  Germany’s power,  This shift caused Germany’s carbon dioxide (CO2) emissions to actually rise by 28 million tons each year following the policy shift.
katyshannon

Supreme Court Deals Blow to Obama's Efforts to Regulate Coal Emissions - The New York T... - 0 views

  • In a major setback for President Obama’s climate change agenda, the Supreme Court on Tuesday temporarily blocked the administration’s effort to combat global warming by regulating emissions from coal-fired power plants.
  • The brief order was not the last word on the case, which is most likely to return to the Supreme Court after an appeals court considers an expedited challenge from 29 states and dozens of corporations and industry groups.But the Supreme Court’s willingness to issue a stay while the case proceeds was an early hint that the program could face a skeptical reception from the justices.The 5-to-4 vote, with the court’s four liberal members dissenting, was unprecedented — the Supreme Court had never before granted a request to halt a regulation before review by a federal appeals court.
  • In negotiating that deal, which requires every country to enact policies to lower emissions, Mr. Obama pointed to the power plant rule as evidence that the United States would take ambitious action, and that other countries should follow.
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  • Opponents of Mr. Obama’s climate policy called the court’s action historic.“We are thrilled that the Supreme Court realized the rule’s immediate impact and froze its implementation, protecting workers and saving countless dollars as our fight against its legality continues,” said Patrick Morrisey, the attorney general of West Virginia, which has led the 29-state legal challenge.
  • The challenged regulation, which was issued last summer by the Environmental Protection Agency, requires states to make major cuts to greenhouse gas pollution created by electric power plants, the nation’s largest source of such emissions. The plan could transform the nation’s electricity system, cutting emissions from existing power plants by a third by 2030, from a 2005 baseline, by closing hundreds of heavily polluting coal-fired plants and increasing production of wind and solar power. Continue reading the main story
  • “Climate change is the most significant environmental challenge of our day, and it is already affecting national public health, welfare and the environment,” Solicitor General Donald B. Verrilli Jr. wrote in a brief urging the Supreme Court to reject a request for a stay while the case moves forward.
  • The regulation calls for states to submit compliance plans by September, though they may seek a two-year extension. The first deadline for power plants to reduce their emissions is in 2022, with full compliance not required until 2030.The states challenging the regulation, led mostly by Republicans and many with economies that rely on coal mining or coal-fired power, sued to stop what they called “the most far-reaching and burdensome rule the E.P.A. has ever forced onto the states.”
  • The states urged the Supreme Court to take immediate action to block what they called a “power grab” under which “the federal environmental regulator seeks to reorganize the energy grids in nearly every state in the nation.” Though the first emission reduction obligations do not take effect until 2022, the states said they had already started to spend money and shift resources.
zoegainer

Covid Took a Bite From U.S. Greenhouse Gas Emissions in 2020 - The New York Times - 0 views

  • America’s greenhouse gas emissions from energy and industry plummeted more than 10 percent in 2020, reaching their lowest levels in at least three decades as the coronavirus pandemic slammed the brakes on the nation’s economy, according to an estimate published Tuesday by the Rhodium Group.
  • In the years ahead, United States emissions are widely expected to bounce back once the pandemic recedes and the economy rumbles back to life — unless policymakers take stronger action to clean up the country’s power plants, factories, cars and trucks.
  • Before the pandemic hit, America’s emissions had been slowly but steadily declining since 2005, in large part because utilities that generate electricity have been shifting away from coal, the dirtiest fossil fuel, in favor of cheaper and cleaner natural gas, wind and solar power.
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  • In the electricity sector, emissions plunged by 10.3 percent in 2020, driven by a sharp decline in coal burning. As electricity demand sagged nationwide, utilities ran their coal plants far less often because coal has become the most expensive fuel in many parts of the country. Instead, they used more natural gas — which produces less carbon dioxide than coal, but still generates significant heat-trapping methane — and drew more heavily on emissions-free wind and solar power.
  • Emissions from heavy industry, such as steel and cement, dropped 7 percent in 2020 as automakers and other manufacturers churned out fewer goods amid the economic slump. America’s buildings, which produce carbon dioxide when they burn oil or natural gas for heat, saw emissions fall 6.2 percent, driven by both lockdowns and warmer-than-average weather.
  • Transportation, the nation’s largest source of greenhouse gases, saw a 14.7 percent decline in emissions in 2020 as millions of people stopped driving to work and airlines canceled flights. While travel started picking up again in the latter half of the year as states relaxed their lockdowns, Americans drove 15 percent fewer miles over all last year than they did in 2019 and the demand for jet fuel fell by more than one-third.
  • Renewable energy surged in 2020, as energy companies overcame disruptions from the pandemic to build a record number of new wind turbines and solar panels ahead of a key deadline to claim a federal tax credit. The United States produced roughly as much electricity from renewable sources last year as it did from coal, a milestone that has never been reached before.
  • The other caveat is that America’s emissions could tick back up again once vaccines are widely distributed and the economy recovers. The Rhodium Group report noted that a similar rebound occurred after the financial crisis of 2008-9 caused emissions to fall sharply. And it noted that many sectors, like air travel and steel making, have already been rebounding in recent months.
  • “The vast majority of 2020’s emission reductions were due to decreased economic activity and not from any structural changes that would deliver lasting reductions in the carbon intensity of our economy.”
  • Scientists warn that even a big one-year drop in emissions is not enough to stop global warming. Until humanity’s emissions are essentially zeroed out and nations are no longer adding greenhouse gases to the atmosphere, the planet will continue to heat up. As if to underscore that warning, European researchers announced last week that 2020 was quite likely tied with 2016 as the hottest year on record.
woodlu

The age of fossil-fuel abundance is dead | The Economist - 0 views

  • FOR MUCH of the past half-decade, the operative word in the energy sector was “abundance”. An industry that had long sought to ration the production of fossil fuels to keep prices high suddenly found itself swamped with oversupply, as America’s shale boom lowered the price of oil around the world and clean-energy sources, such as wind and solar, competed with other fuels used for power generation, such as coal and natural gas.
  • In recent weeks, however, it is a shortage of energy, rather than an abundance of it, that has caught the world’s attention.
  • Britain’s miffed motorists are suffering from a shortage of lorry drivers to deliver petrol. Power cuts in parts of China partly stem from the country’s attempts to curb emissions. Dwindling coal stocks at power stations in India are linked to a surge in the price of imports of the commodity.
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  • a slump in investment in oil wells, natural-gas hubs and coal mines. This is partly a hangover from the period of abundance, with years of overinvestment giving rise to more capital discipline.
  • A rule of thumb is that oil companies are supposed to allocate about four-fifths of their capital expenditure each year just to stopping their level of reserves from being depleted. Yet annual industry capex has fallen from $750bn in 2014 (when oil prices exceeded $100 a barrel) to an estimated $350bn this year
  • Oil crossed $81 a barrel after the Organisation of the Petroleum Exporting Countries (OPEC), and allies such as Russia who are part of the OPEC+ alliance, resisted calls to increase output at a meeting on October 4th.
  • But it may at least accelerate the shift to greener—and cheaper—sources of energy.
  • result of growing pressures to decarbonise.
  • over the same period, the number of years’ worth of current production held in reserves in some of the world’s biggest projects has fallen from 50 to about 25
  • The industry would usually respond to robust demand and higher prices by investing to drill more oil. But that is harder in an era of decarbonisation.
  • big private-sector oil companies, such as ExxonMobil and Royal Dutch Shell, are being pressed by investors to treat oil and gas investments like week-old fish
  • shareholders reckon that demand for oil will eventually peak, making long-term projects uneconomic, or because they prefer to hold stakes in companies that support the transition to clean energy
  • Another factor inhibiting oil investment is the behaviour of OPEC+ countries. The half-decade of relatively low prices during the “age of abundance”, which reached its nadir with a price collapse at the start of the pandemic, g
  • utted state coffers. That cut funding for investment. As prices recover, governments’ priority is not to ex
  • pand oil-production capacity but to shore up national budgets.
  • Investment in thermal coal is weakest of all. Even in China and India, which have big pipelines of new coal-fired power plants, the mood has swung against the dirtiest fossil fuel.
  • All this places fossil-fuel producers in something of a bind. A slump in investment could enable some oil, gas and coal investors to make out like bandits. But the longer prices stay high, the more likely it becomes that the transition to clean energy ultimately buries the fossil-fuel industry. Consumers, in the meantime, must brace for more shortages.
Javier E

Dilemma on Wall Street: Short-Term Gain or Climate Benefit? - The New York Times - 0 views

  • team of economists recently analyzed 20 years of peer-reviewed research on the social cost of carbon, an estimate of the damage from climate change. They concluded that the average cost, adjusted for improved methods, is substantially higher than even the U.S. government’s most up-to-date figure.
  • That means greenhouse gas emissions, over time, will take a larger toll than regulators are accounting for. As tools for measuring the links between weather patterns and economic output evolve — and the interactions between weather and the economy magnify the costs in unpredictable ways — the damage estimates have only risen.
  • It’s the kind of data that one might expect to set off alarm bells across the financial industry, which closely tracks economic developments that might affect portfolios of stocks and loans. But it was hard to detect even a ripple.
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  • In fact, the news from Wall Street lately has mostly been about retreat from climate goals, rather than recommitment. Banks and asset managers are withdrawing from international climate alliances and chafing at their rules. Regional banks are stepping up lending to fossil fuel producers. Sustainable investment funds have sustained crippling outflows, and many have collapsed.
  • In some cases, it’s a classic prisoner’s dilemma: If firms collectively shift to cleaner energy, a cooler climate benefits everyone more in the future
  • in the short term, each firm has an individual incentive to cash in on fossil fuels, making the transition much harder to achieve.
  • when it comes to avoiding climate damage to their own operations, the financial industry is genuinely struggling to comprehend what a warming future will mean.
  • A global compact of financial institutions made commitments worth $130 trillion to try to bring down emissions, confident that governments would create a regulatory and financial infrastructure to make those investments profitable. And in 2022, the Inflation Reduction Act passed.
  • What about the risk that climate change poses to the financial industry’s own investments, through more powerful hurricanes, heat waves that knock out power grids, wildfires that wipe out towns?
  • “If we think about what is going to be the best way to tilt your portfolios in the direction to benefit, it’s really difficult to do,”
  • “These will probably be great investments over 20 years, but when we’re judged over one to three years, it’s a little more challenging for us.”
  • Some firms cater to institutional clients, like public employee pension funds, that want combating climate change to be part of their investment strategy and are willing to take a short-term hit. But they aren’t a majority
  • And over the past couple of years, many banks and asset managers have shrunk from anything with a climate label for fear of losing business from states that frown on such concerns.
  • On top of that, the war in Ukraine scrambled the financial case for backing a rapid energy transition. Artificial intelligence and the movement toward greater electrification are adding demand for power, and renewables haven’t kept up
  • All of that is about the relative appeal of investments that would slow climate change
  • If you bought some of the largest solar-energy exchange-traded funds in early 2023, you would have lost about 20 percent of your money, while the rest of the stock market soared.
  • There is evidence that banks and investors price in some physical risk, but also that much of it still lurks, unheeded.
  • “I’m very, very worried about this, because insurance markets are this opaque weak link,” Dr. Sastry said. “There are parallels to some of the complex linkages that happened in 2008, where there is a weak and unregulated market that spills over to the banking system.”
  • Regulators worry that failing to understand those ripple effects could not just put a single bank in trouble but even become a contagion that would undermine the financial system.
  • But while the European Central Bank has made climate risk a consideration in its policy and oversight, the Federal Reserve has resisted taking a more active role, despite indications that extreme weather is feeding inflation and that high interest rates are slowing the transition to clean energy.
  • “The argument has been, ‘Unless we can convincingly show it’s part of our mandate, Congress should deal with it, it’s none of our business,’”
  • a much nearer-term uncertainty looms: the outcome of the U.S. election, which could determine whether further action is taken to address climate concerns or existing efforts are rolled back. An aggressive climate strategy might not fare as well during a second Trump administration, so it may seem wise to wait and see how it shakes out.
  • big companies are hesitating on climate-sensitive investments as November approaches, but says that “two things are misguided and quite dangerous about that hypothesis.”
  • One: States like California are establishing stricter rules for carbon-related financial disclosures and may step it up further if Republicans win
  • And two: Europe is phasing in a “carbon border adjustment mechanism,” which will punish polluting companies that want to do business there.
  • at the moment, even European financial institutions feel pressure from the United States, which — while providing some of the most generous subsidies so far for renewable-energy investment — has not imposed a price on carbon.
  • The global insurance company Allianz has set out a plan to align its investments in a way that would prevent warming above 1.5 degrees Celsius by the end of the century, if everyone else did the same. But it’s difficult to steer a portfolio to climate-friendly assets while other funds take on polluting companies and reap short-term profits for impatient clients.
  • “This is the main challenge for an asset manager, to really bring the customer along,” said Markus Zimmer, an Allianz economist. Asset managers don’t have sufficient tools on their own to move money out of polluting investments and into clean ones, if they want to stay in business,
  • “Of course it helps if the financial industry is somehow ambitious, but you cannot really substitute the lack of actions by policymakers,”
  • According to new research, the benefit is greater when decarbonization occurs faster, because the risks of extreme damage mount as time goes on. But without a uniform set of rules, someone is bound to scoop up the immediate profits, disadvantaging those that don’t — and the longer-term outcome is adverse for all.
Javier E

U.S. and China Agree to Displace Fossil Fuels by Ramping Up Renewables - The New York T... - 0 views

  • The United States and China, the world’s two largest climate polluters, have agreed to jointly tackle global warming by ramping up wind, solar and other renewable energy with the goal of displacing fossil fuels.
  • The United States and China, the world’s two largest climate polluters, have agreed to jointly tackle global warming by ramping up wind, solar and other renewable energy with the goal of displacing fossil fuels, the State Department said Tuesday.
  • The statements of cooperation released separately by the United States and China on Tuesday do not include a promise by China to phase out its heavy use of coal, the dirtiest fossil fuel, or to stop permitting and building new coal plants. That has been a sticking point for the United States in months of discussions with Beijing on climate change.
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  • The statements of cooperation released separately by the United States and China do not include a promise by China to phase out its heavy use of coal, the dirtiest fossil fuel, or to stop permitting and building new coal plants
  • both countries agreed to “pursue efforts to triple renewable energy capacity globally by 2030.” That growth should reach levels high enough “so as to accelerate the substitution for coal, oil and gas generation,” the agreement says. Both countries anticipate “meaningful absolute power sector emission reduction” in this decade, it says. That appears to be the first time China has agreed to cut emissions in any part of its economy.
  • both countries agreed to “pursue efforts to triple renewable energy capacity globally by 2030.” That growth should reach levels high enough “so as to accelerate the substitution for coal, oil and gas generation,” the agreement says
  • Both countries anticipate “meaningful absolute power sector emission reduction” in this decade, it says
  • That appears to be the first time China has agreed to specific emissions targets in any part of its economy
  • As part of the deal, China agreed to set reduction targets for all greenhouse gas emissions. That is significant because the current Chinese climate goal addresses only carbon dioxide, leaving out methane, nitrous oxide and other gases that are acting as a blanket around the planet.
  • The United States and China also agreed that in the next set of climate pledges — which nations are supposed to put forward in 2025 — China will set emissions reduction targets across its economy. Its current pledge calls for carbon dioxide emissions to peak before 2030 but does not specify how high they might go before the curve begins to bend or specify by how much it might slash emissions.
  • Manish Bapna, president of the Natural Resources Defense Council, an environmental group, praised the U.S.-China agreement and called it “a foundation of ambition” ahead of the U.N. climate summit in Dubai.
Javier E

Painting Bill Clinton's "white roofs" into reality | The Great Debate - 0 views

  • Painting black tar roofs with a white, solar-reflective coating is a low cost, quick and tangible way to reduce the risk of power grid ‘brown-outs’, save millions of dollars in energy costs, and curb climate change. The statistics are as simple as they are staggering: A roof covered with solar-reflective white paint reflects up to 90% of sunlight as opposed to the 20% reflected by a traditional black roof. On a 90°F day, a black roof can be up to 180°F. That heat has a major impact on interior building temperature, potentially heating your room to between 115 – 125°F. A white roof stays a cool 100°F. Plus the inside of the building stays cooler than the air outdoors, around 80°F in this example, reducing cooling costs.
  • White roofs also reduce the “urban heat island” effect in which temperatures rise in dense urban areas because of the proliferation of heat-radiating, black tar surfaces. For example, the Urban Heat Island effect causes New York City to be about 5 degrees warmer than surrounding suburbs and accounts for 5 to 10 percent of summer electricity use.
  • Volunteers saw that all it takes is a paint roller, some solar-reflective white coating and a little hard work to start curbing climate change.
Javier E

Coronavirus Relief Also Has Biggest Climate Bill in History - 0 views

  • How big a deal are the climate provisions? The World Resources Institute has called the bill “one of the most significant pieces of climate legislation that Congress has passed in its history.”
  • The major provisions include: a $35 billion investment in new zero-emission energy technology (including solar, wind, nuclear, and carbon-capture storage); an extension of tax credits for wind and solar energy, which were set to expire; and, most significantly, a plan for phasing out hydrofluorocarbons, a small but extremely potent greenhouse gas used as a coolant.
  • the amount of good climate policy in this bill is shocking
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  • “This is perhaps the most significant climate legislation Congress has ever passed.”
  • In 2016, the Obama administration committed to an international agreement to phase out hydrofluorocarbons, or HFCs. The Trump administration, as you’d expect, renounced the agreement and then proposed rolling back regulations on HFCs. Instead, the president will sign a bill that would allow the United States to fulfill the terms of the treaty he renounced. A full international HFC phaseout will reduce global warming by nearly one degree Fahrenheit.
  • Manufacturers of heating and cooling units prefer a single, strict national standard than a patchwork of lax but variable state-based standards, just like car-makers do. The industry has lobbied for a national standard.
  • The larger lesson here is that, in the modern era, constructive legislation is still possible — as long as the issue stays below the radar. High-profile policy fights tend to become grist for right-wing media,
Javier E

Opinion | Why Texas Republicans Are Targeting Renewable Energy - The New York Times - 0 views

  • while talk of the woke mind virus manages to be both sinister and silly, I’d argue that there really is what we might call an anti-woke mind virus — a contagion that spreads not across people but across issues.
  • Here’s how it works. A significant faction of Americans, which increasingly dominates the Republican Party, hates anything it considers woke — which in this faction’s eyes means both any acknowledgment of social injustice and any suggestion that people should make sacrifices, or even accept mild inconvenience, in the name of the public good.
  • So there’s rage against the idea that racism was and still is an evil for which society should make some amends; there’s also rage against the idea that people should, say, wear masks during a pandemic to protect others, or cut down on activities that harm the environment.
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  • the weird thing is the way that it infects attitudes on issues that don’t actually involve wokeism but are seen as woke-adjacent.
  • The now-classic example is the way hostility to mask mandates, which were mainly about protecting others, turned into highly partisan opposition to Covid vaccination, which is mainly about protecting yourself.
  • The same thing, I’d argue, applies to energy policy. At this point, investing in renewable energy is simply a good business proposition; Texas Republicans have had to abandon their own free-market, anti-regulation ideology in the effort to strangle wind and solar powe
  • But renewable energy is something environmentalists favor; it’s being promoted by the Biden administration. So in the minds of Texas right-wingers the wind has become woke, and wind power has become something to be fought even if it hurts business and costs the state both money and jobs.
Javier E

Opinion | Easy money, cut-rate energy and discount labor are all going away - The Washi... - 0 views

  • here is no reason to panic. The United States has had a nearly perfect economic cooling over the past few years, maintaining a strong jobs market and good GDP growth while settling down from the post-covid reopening highs. We are not only doing better than anyone expected; we are doing far better than our peers in Europe, including Britain, and Japan
  • So, what’s going on? Something that sounds bad but is, in reality, encouraging: The era of cheap is over.
  • The past five years — which have featured a pandemic, the war in Ukraine and the aftermath of both — signal the end to an economy that was based on cheap everything: cheap money, cheap energy and cheap labor
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  • The United States, Europe and China are, in different ways, all speeding up the transition to a green economy.
  • The first to go is the era of easy money. This isn’t a short-term response to President Biden’s much-needed post-pandemic fiscal stimulus. (In fact, that stimulus is exactly what kept the U.S. economy resilient while peers flagged, according to a recent New York Fed report.
  • This is a return to an economy that is more rational and hardheaded. Not all companies, or stocks, are created equal. Many have too much debt on their books.
  • Years of easy money propped up everything. A higher cost of capital will be painful temporarily, but it will give markets what they’ve needed for years — a reason for investors to sort out risky investments
  • Cheap energy is over, too. One outcome of Russia’s invasion of Ukraine is the realization (especially in Europe) that getting crucial commodities from autocrats is never a good idea
  • At home, that means more wind and solar farms, more electric cars and more diverse supply chains to build it all. This will be inflationary in the short term, as it means manufacturing new products and investing in new technologies
  • The bond market won’t like it, and there will be calls to return to the old ways, particularly if inflation continues to bite.
  • But it will be strongly deflationary if we can make the shift.
  • Finally, the era of cheap labor has ended
  • Wages are rising, and we’ve seen more labor activity, including strikes, this year than in the past four decades. More will follow. This is an appropriate response to decades of wage stagnation amid record corporate profits
  • Unions, but also non-union workers in many areas of the economy including construction and manufacturing, have been buoyed by the largest infrastructure investment since the 1950s — which has given them negotiating power that they haven’t had in years
  • Meanwhile, companies in the service sector are reconsidering their usual hire-and-fire-fast approach, having been trained by the pandemic to hang onto employees as long as possible.
  • Yes, artificial intelligence could throw a spammer in all this. CEOs are looking to use it to bring down labor costs. But workers today are becoming more proactive about demanding more control of both trade and technology;
  • The end of cheap is a huge shift. It means Main Street rather than Wall Street will drive the economy. It will make for a more balanced and resilient economy.
  • All of that is going away or gone. A decade and a half of go-go speculation is finished. The era of cheap is kaput.
  • cheap isn’t really cheap. It’s just putting your troubles on layaway.
Javier E

Al Gore explains why he's optimistic about stopping global warming - 0 views

  • we are now seeing the approach of a global political tipping point.
  • The appearance of more extreme and more frequent weather events has had a very profound impact on public opinion in countries throughout the world
  • A second factor is the sharp and unexpectedly steep decrease in prices for electricity produced from wind and solar and the demand destruction for fossil fuel energy from new efficiency improvements.
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  • the projections made 5-10 years ago for the installation of solar and wind technologies were, similarly, not just wrong but way wrong. We’ve seen a dramatic increase that’s far more rapid than anybody projected and it’s accelerating — not just in the United States but even more rapidly in developing countries.
  • Once questions are resolved into a choice between right and wrong, then the laws change. It happened with civil rights. It’s happening now with gay rights. It happened with apartheid and, in an earlier era, with abolition. And this is now being resolved into a question of right and wrong.
  • the odds have shifted and those events are becoming more common and extreme. They’ve now changed their description of that connection. The temperature has increased globally and there’s now 4 percent more water vapor in the Earth’s atmosphere than 30 years ago. As a result, every extreme weather event now has a component of global warming in it.
  • people are connecting the dots. The cumulative amount of energy trapped by manmade global warming pollution each day in the earth’s atmosphere is now equal to the energy that would be released by 400,000 Hiroshima bombs going off every 24 hours.
  • The leading scientists have in the last two years changed the way they discuss that particular connection. It’s true that it used to be common for them to say you can’t blame any single extreme weather event on global warming.
  • remember the impact of policy direction on business calculations is forward-looking. When business begins to understand the direction of policy, they have to start adjusting to where the policy is going. When you look at the EPA process, it’s undeniably clear that there will be a price on carbon one way or the other. Then when you look at the movement in other countries and the states and local measures being enacted, the direction is now quite clear and businesses are making plans to adjust to it.
  • I think the most important part of it is winning the conversation. I remember as a boy when the conversation on civil rights was won in the South. I remember a time when one of my friends made a racist joke and another said, hey man, we don’t go for that anymore. The same thing happened on apartheid. The same thing happened on the nuclear arms race with the freeze movement. The same thing happened in an earlier era with abolition. A few months ago, I saw an article about two gay men standing in line for pizza and some homophobe made an ugly comment about them holding hands and everyone else in line told them to shut up. We’re winning that conversation.
  • the political climate is changing. Something like Chris Hayes’s excellent documentary on climate change wouldn’t have made it on TV a few years ago. And as I said, many Republicans who’re still timid on the issue are now openly embarrassed about the extreme deniers. The deniers are being hit politically. They’re being subjected to ridicule, which stings. The polling is going back up in favor of doing something on this issue. The ability of the raging deniers to stop progress is waning every single day.
Javier E

The Tiny Swiss Company That Thinks It Can Help Stop Climate Change - The New York Times - 0 views

  • The scientist and historian Vaclav Smil called Haber-Bosch “the most important technical invention of the 20th century.” Bosch had effectively removed the historical bounds on crop yields, so much so that he was widely credited with making “bread from air.” By some estimates, Bosch’s work made possible the lives of more than two billion human beings over the last 100 years.
  • They depend on electric fans to pull air into the ducts and over a special material, known as a sorbent, laced with granules that chemically bind with CO₂; periodic blasts of heat then release the captured gas from the sorbent, with customized software managing the whole catch-and-release cycle.
  • “The first thing they said was: ‘This will never work technically.’ And finally in 2017 we convinced them it works technically, since we built the big plant in Hinwil. But once we convinced them that it works technically, they would say, ‘Well, it will never work economically.’ ”For the moment, skeptics of Climeworks’s business plan are correct: The company is not turning a profit.
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  • it faces the same daunting task that confronted Carl Bosch a century ago: How much can it bring costs down? And how fast can it scale up
  • They believe that over the next seven years they can bring expenses down to a level that would enable them to sell CO₂ into more lucrative markets. Air-captured CO₂ can be combined with hydrogen and then fashioned into any kind of fossil-fuel substitute you want. Instead of making bread from air, you can make fuels from air.
  • What Gebald and Wurzbacher really want to do is to pull vast amounts of CO₂ out of the atmosphere and bury it, forever, deep underground, and sell that service as an offset
  • companies like Climeworks face a quandary: How do you sell something that never existed before, something that may never be cheap, into a market that is not yet real?
  • It’s arguably the case, in fact, that when it comes to reducing our carbon emissions, direct air capture will be seen as an option that’s too expensive and too modest in impact. “The only way that direct air capture becomes meaningful is if we do all the other things we need to do promptly,” Hal Harvey, a California energy analyst who studies climate-friendly technologies and policies, told me
  • In short, the best way to start making progress toward a decarbonized world is not to rev up millions of air capture machines right now. It’s to stop putting CO₂ in the atmosphere in the first place.
  • If the nations of the world were to continue on the current track, it would be impossible to meet the objectives of the 2016 Paris Agreement, which set a goal limiting warming to 2 degrees Celsius or, ideally, 1.5 degrees. And it would usher in a world of misery and economic hardship. Already, temperatures in some regions have climbed more than 1 degree Celsius, as a report by the Intergovernmental Panel on Climate Change noted last October. These temperature increases have led to an increase in droughts, heat waves, floods and biodiversity losses and make the chaos of 2 or 3 degrees’ additional warming seem inconceivable
  • A further problem is that maintaining today’s emissions path for too long runs the risk of doing irreparable damage to the earth’s ecosystems — causing harm that no amount of technological innovation can make right. “There is no reverse gear for natural systems,” Harvey says. “If they go, they go. If we defrost the tundra, it’s game over.” The same might be said for the Greenland and West Antarctic ice sheets, or our coral reefs. Such resources have an asymmetry in their natural architectures: They can take thousands or millions of years to form, but could reach conditions of catastrophic decline in just a few decades.
  • To have a shot at maintaining a climate suitable for humans, the world’s nations most likely have to reduce CO₂ emissions drastically from the current level — to perhaps 15 billion or 20 billion metric tons per year by 2030; then, through some kind of unprecedented political and industrial effort, we need to bring carbon emissions to zero by around 2050
  • To preserve a livable environment we may also need to extract CO₂ from the atmosphere. As Wurzbacher put it, “if you take all these numbers from the I.P.C.C., you end up with something like eight to 10 billion tons — gigatons — of CO₂ that need to be removed from the air every year, if we are serious about 1.5 or 2 degrees.
  • Through photosynthesis, our forests take extraordinary amounts of carbon dioxide from the atmosphere, and if we were to magnify efforts to reforest clear-cut areas — or plant new groves, a process known as afforestation — we could absorb billions more metric tons of carbon in future years.
  • we could grow crops specifically to absorb CO₂ and then burn them for power generation, with the intention of capturing the power-plant emissions and pumping them underground, a process known as bioenergy with carbon capture and storage, or BECCS
  • Ever since the Industrial Revolution, human societies have produced an excess of CO₂, by taking carbon stores from deep inside the earth — in the form of coal, oil and gas — and from stores aboveground (mostly wood), then putting it into the atmosphere by burning it. It has become imperative to reverse the process — that is, take CO₂ out of the air and either restore it deep inside the earth or contain it within new surface ecosystems.
  • “It’s not about saying, ‘I want to plant a tree.’ It’s about saying, ‘We want to plant a billion trees.’
  • “We have to come to grips with the fact that we waited too long and that we took some options off the table,” Michael Oppenheimer, a Princeton scientist who studies climate and policy, told me. As a result, NETs no longer seem to be just interesting ideas; they look like necessities. And as it happens, the Climeworks machines on the rooftop do the work each year of about 36,000 trees.
  • air capture could likewise help counter the impact of several vital industries. “There are process emissions that come from producing iron and steel, cement and glass,” she says, “and any time you make these materials, there’s a chemical reaction that emits CO₂.” Direct air capture could even lessen the impacts of the Haber-Bosch processes for making fertilizer; by some estimates, that industry now accounts for 3 percent of all CO₂ emissions.
  • Wind and solar are now the cheapest forms of energy in the right locations,” Pacala says. “The return on those investments, if you calculated it, would blow the doors off anything in your portfolio. It’s like investing in early Apple. So it’s a spectacular story of success. And direct air capture is precisely the same kind of problem, in which the only barrier is that it’s too costly.”
  • what all the founders have in common is a belief that the cost of capturing a ton of carbon will soon drop sharply.
  • M.I.T.’s Howard Herzog, for instance, an engineer who has spent years looking at the potential for these machines, told me that he thinks the costs will remain between $600 and $1,000 per metric ton
  • He points out that because direct-air-capture machines have to move tremendous amounts of air through a filter or solution to glean a ton of CO₂ — the gas, for all its global impact, makes up only about 0.04 percent of our atmosphere — the process necessitates large expenditures for energy and big equipment. What he has likewise observed, in analyzing similar industries that separate gases, suggests that translating spreadsheet projections for capturing CO₂ into real-world applications will reveal hidden costs. “I think there has been a lot of hype about this, and it’s not going to revolutionize anything,
  • Climeworks’s current goal is to remove 1 percent of the world’s annual CO₂ emissions by the mid 2020s.
  • “Basically, we have a road map — $600, down to $400, down to $300 and $200 a ton,” Wurzbacher said. “This is over the next five years. Down to $200 we know quite well what we’re doing.” And beyond $200, Wurzbacher suggested, things get murkier.
  • To actually capture 1 percent of the world’s carbon emissions by 2025 would, by Gebald’s calculations, require that Climeworks build 250,000 carbon-capture plants like the ones on the roof at Hinwil. That adds up to about 4.5 million carbon collectors
  • The Climeworks founders therefore try to think of their product as the automotive industry might — a piece of mass-produced technology and metal, not the carbon they hope to sequester.
  • “Every CO₂ collector has about the same weight and dimensions of a car — roughly two tons, and roughly 2 meters by 2 meters by 2 meters,” Gebald said. “And all the methods used to produce the CO₂ collectors could be well automated. So we have the automotive industry as a model for how to produce things in large quantities for low cost.
  • n 1954, the economist Paul Samuelson put forward a theory that made a distinction between “private-consumption goods” — bread, cars, houses and the like — and commodities that existed apart from the usual laws of supply and demand.
  • the other type of commodity Samuelson was describing is something now known as a “public good,” which benefits everyone but is not bought, sold or consumed the same way
  • direct air capture’s success would be limited to the size of the market for private goods — soda fizz, greenhouse gas — unless governments decided to intervene and help fund the equivalent of several million (or more) lighthouses.
  • An intervention could take a variety of forms. It could be large grants for research to find better sorbent materials, for instance, which would be similar to government investments that long ago helped nurture the solar- and wind-power industries. But help could also come by expanding regulations that already exist.
  • The Climeworks founders told me they don’t believe their company will succeed on what they call “climate impact” scales unless the world puts significant prices on emissions, in the form of a carbon tax or carbon fee.
  • “Our goal is to make it possible to capture CO₂ from the air for below $100 per ton,” Wurzbacher says. “No one owns a crystal ball, but we think — and we’re quite confident — that by something like 2030 we’ll have a global average price on carbon in the range of $100 to $150 a ton.” There is optimism in this thinking
  • A company that sells a product or uses a process that creates high emissions — an airline, for instance, or a steel maker — could be required to pay carbon-removal companies $100 per metric ton or more to offset their CO₂ output. Or a government might use carbon-tax proceeds to directly pay businesses to collect and bury CO₂.
  • “It doesn’t cost too much to pump CO₂ underground,” Stanford’s Sally Benson says. Companies already sequester about 34 million metric tons of CO₂ in the ground every year, at a number of sites around the world, usually to enhance the oil-drilling process. “The costs range from $2 to $15 per ton. So the bigger cost in all of this is the cost of carbon capture.”
  • The weekend before, Gutknecht told me, he received 900 unsolicited inquiries by email. Many were from potential customers who wanted to know how soon Climeworks could bury their CO₂ emissions, or how much a machine might cost them.
  • A Climeworks app could be installed on my smartphone, he explained. It could then be activated by my handset’s location services. “You fly over here to Europe,” he explained, “and the app tells you that you have just burned 1.7 tons of CO₂. Do you want to remove that? Well, Climeworks can remove it for you. Click here. We’ll charge your credit card.
  • The vast and constant market demand for fuel is why Carbon Engineering has staked its future on synthetics. The world currently burns about 100 million barrels of oil a day.
  • “So let’s say you’d have to supply something like 50 million barrels a day in 2050 of fuels,” he said. “That’s still a monster market.”
  • Carbon Engineering’s chief executive, added that direct-air-capture synthetics have an advantage over traditional fossil fuels: They won’t have to spend a dime on exploration
  • our plants, you can build it right in the middle of California, wherever you have air and water.” He told me that the company’s first large-scale facility should be up and running by 2022, and will turn out at least 500 barrels a day of fuel feedstock — the raw material sent to refineries.
  • Climeworks recently joined a consortium of European countries to produce synthetic methane that will be used by a local trucking fleet. With different tweaks and refinements, the process could be adapted for diesel, gasoline, jet fuel — or it could be piped directly to local neighborhoods as fuel for home furnaces.
  • the new fuels are not necessarily cheaper. Carbon Engineering aspires to deliver its product at an ultimate retail price of about $1 per liter, or $3.75 per gallon. What would make the product competitive are regulations in California that now require fuel sellers to produce fuels of lower “carbon intensity.” To date this has meant blending gas and diesel with biofuels like ethanol, but it could soon mean carbon-capture synthetics too.
  • Since they’re made from airborne CO₂ and hydrogen and could be manufactured just about anywhere, they could rearrange the geopolitical order — tempering the power of a handful of countries that now control natural-gas and oil markets.
  • From an environmental standpoint, air-capture fuels are not a utopian solution. Such fuels are carbon neutral, not carbon negative. They can’t take CO₂ from our industrial past and put it back into the earth
  • Even so, these fuels could present an enormous improvement. Transportation — currently the most significant source of emissions by sector in the United States — could cease to be a net emitter of CO₂
  • “If you can do one carbon-capture facility, where Carbon Engineering or Climeworks can build a big plant, great. You need to do that 5,000 times. And to capture a million tons of CO₂ with direct air capture, you need a small power plant just to run that facility. So if you’re going to build one direct-air-capture facility every day for the next 30 years to get to some of these scenarios, then in addition, we have to build a new mini power plant every day as well.
  • It’s also the case that you have to address two extraordinary problems at the same time, Peters added. “To reach 1.5 degrees, we need to halve emissions every decade,” he said. That would mean persuading entire nations, like China and the United States, to switch from burning coal to using renewables at precisely the same time that we make immense investments in negative-emission technologies.
  • this would need to be done even as governments choose among competing priorities:
  • “The idea of bringing direct air capture up to 10 billion tons by the middle or later part of the century is such a herculean task it would require an industrial scale-up the likes of which the world has never seen,”
  • Pacala wasn’t pessimistic about making a start. He seemed to think it was necessary for the federal government to begin with significant research and investments in the technology — to see how far and fast it could move forward, so that it’s ready as soon as possible
  • Gebald and Wurzbacher seemed to regard the climate challenge in mathematical terms. How many gigatons needed to be removed? How much would it cost per ton? How many Climeworks machines were required? Even if the figures were enormous, even if they appeared impossible, to see the future their way was to redefine the problem, to move away from the narrative of loss, to forget the multiplying stories of dying reefs and threatened coastlines — and to begin to imagine other possibilities.
Javier E

Start-Ups Hoping to Fight Climate Change Struggle as Other Tech Firms Cash In - The New... - 0 views

  • The last time venture capitalists invested heavily in environmentally focused technology during the so-called clean-tech boom of the 2000s, they lost a lot of money. Getting one of these companies off the ground can be expensive
  • “Sitting on your pile of money while the oceans are rising may not help you stay dry,”
  • It is common wisdom in the tech industry that it is much easier to raise money for a software company than it is for a start-up that wants to work in biotechnology or energy
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  • Total funding for clean-tech start-ups fell during most of the past decade
  • But there are dozens, if not hundreds, of start-ups developing new technologies that address the issue.
  • Two major scientific organizations said last fall that even if greenhouse-gas emissions were reduced significantly, stopping drastic global warming would require technological breakthroughs that allowed for the removal of billions of tons of carbon dioxide already in the atmosphere.
  • Some promising methods for accomplishing that involve old-fashioned technologies, like planting trees and changing the ways farmers till their fields
  • In 2018, $6.6 billion was invested in clean tech, about 15 percent of what went to software start-ups. Carbon-removal start-ups got a tiny sliver of that.
  • “It is tackling big markets and big challenges, but that doesn’t necessarily mean that those are going to be big businesses,”
  • Noah Deich, the founder of Carbon180, a nonprofit that sponsored the event, said it was encouraging to see investors there. But he said he had not seen the commitment to investing that he believed was necessary to get the technologies working.
  • “For an internet company, even if you don’t have a real product, you can get money to develop one,” he said. “Here, it’s the opposite.
  • So far, no one has found an obvious way to turn capturing carbon dioxide into a profitable business.
  • Ocean-Based Climate Solutions, has created a device that stirs up water in the ocean to promote the growth of phytoplankton, which are algae that can take carbon dioxide out of the air and deliver it to the bottom of the sea in solid form.
  • Mr. Oros said that his fund had not made an investment in the sector and that he did not see a way for the industry to take off without government policy encouraging it
  • for these businesses to succeed it would probably be necessary for governments to create a carbon tax or other subsidies as incentives for new businesses.
  • Mr. Lackner said investors should assume that governments would be willing at some point to pay for what these companies were doing.
  • “In the end, there is no way for the market to not exist,” he said. “This will be a brand-new industry at a huge scale.”
  • In the time it took Carbon Engineering to raise one round of $68 million, Slack, a messaging company founded the same year, has raised more than 10 times as much and is now preparing for an initial public offering that could value it at nearly $20 billion.
  • Everyone who discusses the difficulties these start-ups face points back to the clean-tech boom, when several venture capital firms put billions of dollars into solar energy and other technologies. While solar power has gained traction, most of the clean-tech funds were viewed as failures.
  • venture capitalists needed their investments to show returns within a few years
  • “There is a fundamental mismatch in time lines,”
  • One of the biggest investors in climate-focused start-ups is Breakthrough Energy Ventures, a $1 billion fund that seeks to support the development of world-saving technology that might not have a quick turnaround. The fund has received money from Bill Gates and several other billionaires.
  • money from major philanthropists would not be enough to get even one start-up up to speed, much less the dozens needed to meet the carbon-reduction goals set by international bodies like the Intergovernmental Panel on Climate Change
  • a broad array of investors, including venture capitalists, will need to get involved. And they will need to wait more than three or four years to cash out
  • “We don’t need another photo-sharing app or another blockchain start-up,” said Mr. Rogers, who is investing his money through Incite Ventures, a fund he created with his wife, Swati Mylavarapu. “We need to solve the carbon crisis. But a lot of folks are chasing the easy money rather than taking responsibility for what needs to be done.”
Javier E

The anti-Greta: A conservative think tank takes on the global phenomenon - The Washingt... - 0 views

  • Naomi, for her part, argues that these predictions of dire consequences are exaggerated. In a video posted on Heartland’s website, she gazes into the camera and says, “I don’t want you to panic. I want you to think.”
  • Graham Brookie directs the Digital Forensic Research Lab, an arm of the nonprofit Atlantic Council that works to identify and expose disinformation. While the campaign “is not outright disinformation,” Brookie said in an email, it “does bear resemblance to a model we use called the 4d’s — dismiss the message, distort the facts, distract the audience, and express dismay at the whole thing.”
  • she said that watching young people joining weekly “Fridays For Future” protests inspired by Greta helped spur her opposition to climate change activism.
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  • “I get chills when I see those young people, especially at Fridays for Future. They are screaming and shouting and they’re generally terrified,” she said in an interview. “They don’t want the world to end.”
  • Naomi said she does not dispute that greenhouse gas emissions are warming the planet, but she argues that many scientists and activists have overstated their impact.AD“I don’t want to get people to stop believing in man-made climate change, not at all,” she said. “Are manmade CO2 emissions having that much impact on the climate? I think that’s ridiculous to believe.”
  • Naomi argues that other factors, such as solar energy, play a role — though the amount of solar energy reaching the Earth has actually declined since the 1970s, according to federal measurements
  • The German media have described her as sympathetic to the nationalist Alternative for Germany (AfD), the biggest opposition party in parliament, whose leaders have spoken of fighting “an invasion of foreigners.” Naomi says she is not a member of AfD — she describes herself as libertarian — but acknowledges speaking at a recent AfD event.
  • Founded in 1984 and funded largely by anonymous donors, Heartland has increasingly focused on climate change over the past decade. Its staff and researchers enjoy ready access to the Trump administration, and one of its senior fellows, William Happer, served as a senior director on the White House National Security Council between September 2018 and 2019.
  • An emeritus professor of physics at Princeton University, Happer has repeatedly argued that carbon emissions should be viewed as beneficial to society — not a pollutant that drives global warming. During his time with the Trump administration, he sought to enlist Heartland’s help in promoting his ideas and objected to a U.S. intelligence official’s finding that climate impacts could be “possibly catastrophic,”
  • Why would an American think tank want to get involved in German politics? Because it worries that Berlin’s strong stance on reducing greenhouse-gas emissions could be contagious, according to a recent investigation aired on German television.
  • For two decades, Germany has been a leader in pressing other nations to curb carbon output and shift to renewable energy. Though it is falling short of its ambitious goals, Germany has pledged to cut its greenhouse gas emissions this year by 40 percent compared to 1990 — and by up to 95 percent by mid-century.
  • The proposal described Naomi as “the star” of a “Climate Reality Forum” organized by Heartland during the Madrid talks. With “over 100,000 people viewing her talk on climate realism,” the proposal said, Naomi was well-positioned to fight German climate policies.
  • Taylor said the tendency to associate Naomi with Greta is “kind of natural” — and benefits Heartland’s message.“To the extent that Naomi is pretty much the same, just with a different perspective, yeah, I think that it’s good that people will look at the two as similar in many ways,” he said.
kaylynfreeman

Inevitable Planetary Doom Has Been Exaggerated - The Atlantic - 0 views

  • pocalypse often feels inevitable. After all, aren’t we in the “sixth mass extinction”? Haven’t populations of wild animals already crashed by 60 percent? Don’t we have just “10 years left” to avert climate meltdown? Do we really dare to hope?
  • in every case, there is a path through.
  • framing can make extinction feel like a force too huge and powerful to avert.
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  • But to cause an extinction event on the scale of those seen millions of years ago, in which more than 75 percent of species disappeared, we would have to lose all our threatened species within a century and then keep losing species at that same super-high rate for between 240 and 540 more years. In other words, the concept assumes that we won’t save anything, ever, and that hundreds of years into the future, we will still be as inept at protecting biodiversity as we are now.
  • That’s just not true. As of today, according to the International Union for Conservation of Nature’s Red List, the conservation status of 128,918 species has been assessed. Of those, 902 have gone extinct since the year 1500. This is absolutely too many. One is too many.
  • this study actually looked at the average decline of a given population (not species) of wild animal. So severe declines in small populations disproportionately increase the average decline.
  • You might have also heard that we’ve lost something like 60 percent of wild animals since the 1970s? Surely this suggests that a lot more extinctions are imminent?
  • More recently, a new analysis of the data showed that, indeed, the 60 percent average decline was driven by very severe crashes in a very small number of vertebrate populations. For example, one small population of Australian waterfall frogs declined 99.5 percent over two years. This decline became one data point, which was averaged with 14,000 others, many from stable or increasing populations.
  • Really, less than 3 percent of vertebrate populations are crashing
  • This means that declines are not the rule everywhere. It means that the specific populations in crisis can be identified and helped. And we have the knowledge to save them, if we can marshal the will and resources.
  • This targeted approach works for environmental policy too. The Trump administration pushed for more than 100 rollbacks of pollution standards, land protections, and other green policies,
  • Jill Tauber, the vice president of litigation for climate and energy at Earthjustice, told me that her organization has more than 100 lawsuits pending against the Trump administration and that so far, once cases pass any procedural hurdles, her side is winning more than 80 percent of them
  • The U.S. could spend about what it already spends on energy—a mere 4 to 6 percent of gross domestic product—and still reach this goal, according to a new report out of Princeton University.
  • as the cost of key technologies such as solar panels and batteries has fallen, the price tag to move the country to net-zero emissions by 2050—as President Joe Biden has pledged—has also dropped
  • The necessary changes would have to start immediately, and they aren’t minor. Visualize a huge build-out of solar, wind, and transmission lines, for starters
  • What they need to be able to say clearly to politicians is: ‘I value this; this is an important priority to me.’
  • To make it happen, though, American citizens must “create a demand for the policy,”
  • On Wednesday, Biden signed an executive order on climate, which sets a goal of conserving at least 30 percent of the country by 2030, launches a Civilian Climate Corps, and hits pause on fossil-fuel development on public lands
  • “If we don’t keep up that demand for policy, then it is just not going to happen,”
  • Jenkins also rejects the idea that if we fail to keep warming under 1.5 degrees Celsius, the key target in an influential United Nations report, all is lost. “Any time you see a round number like 2.0 or 1.5 or 20 percent by 2020, that is a political number,” he said. “The reality is that every 10th of a degree matters.” There is no threshold after which it is not worth fighting.
  • climate change and extinction have been ongoing problems for as long as many of us can remember, feeling that they’re impossible to engage with right now is only natural.
  • But many of our problems are so thoroughly tangled up with one another that we may not need to fight them separately.
  • So fighting for racial or economic justice, or against voter suppression, still can mean fighting for the environment.
  • Not everything can be saved. But 2021 can be better than 2020, and 2031 can be much, much better than 2021, if we demand it.
  • U.S. government scientists announced that 2020 was one of the two hottest years in recorded history. The other hottest year was 2016: fittingly, the year that the United States elected Donald Trump president, a disaster for the environment as well as democratic norms
  • scientists sounding the alarm about high extinction rates, and in the years that followed, the idea that we are in the midst of one of the planet’s greatest mass-extinction events
  • a
  • One very good reason to feel overwhelmed is that everything seems screwed up at once.  As a country, we’re facing climate change, the pandemic, racial injustice, the threat of dangerous fascist elements
  • Environmental destruction disproportionately harms people of color and lower-income people. And people of color are, on average, significantly more concerned about climate change than white people. A leading cause of inaction on climate change is the hoarding of power by some of the world’s wealthiest people, who profit from planetary destruction that they don’t have to deal with personally. They can simply crank up the air conditioner, pay more for the last remaining champagne and oysters, or fly to their New Zealand bunker, so they have no incentive to change unsustainable systems that they benefit from. When political power is more fairly distributed, the environment will benefit.
katyshannon

Who are the winners and losers of the COP21's climate deal? - CBS News - 0 views

  • "The problem's not solved because of this accord, but make no mistake, the Paris agreement establishes the enduring framework the world needs to solve the climate crisis," the president said late Saturday in a speech from the White House's Cabinet Room. "It creates the mechanism, the architecture, for us to continually tackle this problem in an effective way."
  • But who benefits from the new "architecture" the accord creates? And what will the deal cost for others?
  • On its face, the plan agreed to on Saturday affects just about every nation. It requires countries to limit the rise in global average temperature to below 2 degrees Celsius by the year 2100. It also sets an even more ambitious goal to slow the warming further -- down to just 1.5 degrees Celsius. (In the years since global industrialization, the world's temperature has already risen 1 degree Celsius.)
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  • To achieve this goal, countries that signed on to the agreement promised that they would focus on cultivating clean, renewable energy sources and shift from the use of fossil fuels. They will also be required to report on their progress in reducing greenhouse gas emissions every five years.
  • The deal also commits countries to deliver $100 billion a year in aid for developing countries by 2020, with a promise to increase financing in the future.
  • In a preamble, the deal doubles down on a pledge made six years ago, that richer, industrialized countries will contribute at least $100 billion of aid a year to poorer nations to help them battle the effects of climate change by 2020. It also promises that countries will consider increases to that amount in the future.
  • So there may be many vested parties with a stake in the climate change deal -- but there are also a few key winners and losers. We take a look at them here:
  • According to the Internal Displacement Monitoring Centre's (IDMC) 2015 Global Estimates report, "an average of 26.4 million people per year have been displaced from their homes by disasters brought on by natural hazards" since 2008. These threatened populations are largely found in developing countries, which tend to be more vulnerable to rises in sea level, droughts, and floods.
  • The climate accord in Paris, however, have many in the developing world cheering.
  • According to President Obama, the targets are bold, but they also empower "businesses, scientists, engineers, workers, and the private sector -- investors -- to work together."
  • Mohamed Adow, senior climate change adviser from the disaster relief agency Christian Aid, told CBS News that this is one of the most important aspects of the COP21 accord: the promise provides poorer nations with the "assurance that the international community will not leave developing countries to deal with climate impact."
  • Some nations were not entirely satisfied with the final language -- there is still, after all, no legally binding provision that holds industrialized countries to this pledge for "adaptation" funds -- but nonetheless, Adow said, it gives significant hope to those countries hit especially hard with the threat of displaced citizens.
  • In fact, the aid money already seems to be flowing in light of the Paris negotiations: early this week, the U.S. promised to double its own aid to affected countries to $861 million as part of last-ditch efforts to push the climate deal through.
  • The effects of climate change in poor and developing nations also pose an increasing terror threat to the United States -- a connection that President Obama has made in the past, when he called global warming "an economic and security imperative" just weeks after the Nov. 13 attacks in Paris.
  • As Democratic presidential candidate Bernie Sanders explained it on CBS' "Face the Nation" in November: "If we are going to see an increase in drought, in flood, and extreme weather disturbances as a result of climate change, what that means is that people all over the world are going to be fighting over limited natural resources... When people migrate into cities and they don't have jobs, there's going to be a lot more instability, a lot more unemployment, and people will be subject to the types of propaganda that al Qaeda and ISIS are using right now."
  • Military reports have also viewed climate change as a "catalyst for conflict," and the Pentagon's Quadrennial Defense Review last year dubbed its effects as "threat multipliers" that ultimately lead to "conditions that can enable terrorist activity and other forms of violence."
  • But the climate change deal seeks to mitigate these possible conflict catalysts so that "countries that don't have the resources to address these problems head on, now will," Jon Powers, who served the Federal Chief Sustainability Officer and Special Advisor on Energy to the U.S. Army in the Obama Administration, told CBS News.
  • One important target put forth by the deal was to ensure that parties would "undertake rapid reductions thereafter in accordance with best available science, so as to achieve a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the second half of this century."
  • Here, the deal aims to strangle heavy carbon-emitting industries -- the "anthropogenic emissions" -- and cut down on total fossil fuels burned worldwide. Importantly, it's also a nod to investment in and development of new technologies that would remove carbon dioxide from the air.
  • U.S. Energy Secretary Ernest Moniz told CNBC in an interview, "We recognize fossil fuels will continue to be a part of the portfolio for quite a long time," but that the popularity of other power sources are on the rise.
  • "Wind energy has gone up by several fold just in the last five to six years," Moniz said, "and now (wind) provides about 4.5 percent of our electricity. You add that with solar, we're talking 5 percent."
  • Kathleen McLaughlin, the chief sustainability officer for Walmart, said in a statement that the company would "support the U.N.'s call for the U.S. corporate sector to commit to science-based targets to reduce emissions."
  • Ahead of the Paris summit, China -- the world's biggest coal consumer -- said it would aim to cut its greenhouse gas emissions by nearly two-thirds of its 2005 levels. In the past, international monitoring of those numbers would have been difficult to do, but the COP21 deal changes that.
  • The agreement holds nations accountable for reporting their progress on their climate goals in a global "stocktake" every five years starting in 2023. It also means countries will be monitoring, verifying and reporting their greenhouse gas emissions in a single accounting system.
  • According to one report released last month by the carbon investment think tank Carbon Tracker, fossil fuel companies could risk over $2 trillion dollars of current and future projects being left valueless as the market for fossil fuels narrows with recent global climate change action.
Javier E

World's Dumbest Energy Policy - WSJ - 0 views

  • The energiewende, or energy transformation, championed by Chancellor Angela Merkel heavily subsidizes unreliable wind and solar power, making it uneconomical for utilities to invest in cleaner natural gas. Meanwhile, Mrs. Merkel pledged to shutter German nuclear plants in the wake
  • of Japan’s 2011 Fukushima disaster. Utilities have fallen back on cheaper but dirtier coal to fill the supply gaps when the wind doesn’t blow or the sun isn’t shining.
hannahcarter11

Japan's New Leader Sets Goal of Being Carbon Neutral by 2050 - The New York Times - 0 views

    • hannahcarter11
       
      Even if they're just doing this in competition, whatever it takes to clean up the planet!
  • Achieving that goal will be good not only for the world, he said, but also for Japan’s economy and global standing
  • Taking an aggressive approach to global warming will bring about a transformation in our industrial structure and economic system that will lead to big growth
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  • major upgrade of its previous commitment to reducing greenhouse gases, and necessary if the world hopes to keep a global temperature rise well below 2 degrees
  • Japan is the world’s fifth-largest emitter of greenhouse gases. It had previously said it would go carbon neutral “at the earliest possible date,” vowing to reduce greenhouse gas emissions 80 percent by 205
  • Joseph R. Biden Jr., his challenger in the presidential election, has vowed to restore the United States’ participation in the accord.
  • reinforced just how much of an outlier the United States, the world’s second-largest carbon emitter
  • decision was most likely driven by a combination of domestic and external political pressures
  • As a developed nation, Mr. Kuramochi said, it would be “somewhat embarrassing for Japan to have a net zero emissions timeline later than China.”
  • he would harness the power of “innovation” and “regulatory reform” to transform the country’s energy production and usage
  • The country has made steady progress in reducing its emissions, but still generated 1.06 billion tons of the gas in the one-year period that ended in March 2019, placing it among the top 10 per capita emitters
  • By the early 2000s, Japan had made substantial progress in curbing carbon dioxide emissions through the use of nuclear power. But the meltdown of a nuclear power plant in Fukushima after a devastating earthquake and tsunami in 2011 led to a widespread shutdown of the country’s energy-producing reactors, which had generated roughly a third of Japan’s total power supply. Only a handful of the plants have since restarted.
  • Short on energy sources, Japan decided to reinvest in coal.
  • Japan currently plans to reduce — but not eliminate — its dependence on coa
  • The country has also vowed to end contentious government subsidies for the export of coal-fired power technology to developing nations, where the use of coal for electricity continues to rise
  • Further efforts to decrease Japan’s domestic commitment to coal will likely meet powerful resistance from Japanese industry, which is still heavily dependent on the fuel
  • Japan is already considering a substantial increase in its supply of wind and solar power, and it is also looking at newer, less-established technologies, such as plants that burn ammonia or hydrogen.
  • Mr. Suga said that Japan would continue to develop nuclear power with “maximum priority on safety,”
  • Movement toward the new goal had already started on the local level, where 150 municipal governments have pledged to be carbon neutral by midcentury.
  • But even if Japan achieves its goal, it will not by itself be enough to halt or even slow the current trend of global warming, a goal that requires a global effort
  • Preventing a climate catastrophe will require “a transformation of the energy system that has underwritten modern society,”
  • Japan will be carbon neutral by 2050, its prime minister said on Monday
  • The announcement came just weeks after China, Japan’s regional rival, said it would reduce its net carbon emissions to zero by 2060.
Javier E

RWE, Germany's biggest power company, is going green | The Economist - 0 views

  • dirtiest companies for more than a century; now rwe is aiming to be among the cleanest
  • On October 1st it agreed to buy the renewable-energy business of Consolidated Edison (ConEd), an American utility, for $6.8bn. Three days later it signed an agreement with Germany’s regional and federal governments to bring forward plans to stop generating electricity with lignite, an especially filthy sort of coal, by eight years to 2030
  • The recent announcements are part of a much bigger realignment. In November last year it unveiled plans to invest €50bn ($50bn) to increase renewable-power capacity from 25 to 50 gigawatts (gw) within eight years, about a third of its current total.
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  • the firm’s boss, told analysts that its lignite business is likely to be hived off as a non-profit foundation as soon as the current energy crisis ends and German politicians have the time to give regulatory approval.
  • ConEd’s 3GW renewable business will make rwe America’s fourth-largest provider of green energy, but also comes with a pipeline of wind and solar projects of over 7gw
  • Enel, an Italian firm, and Iberdrola, a Spanish one, want to reach 129gw and 95gw, respectively, in green power-generation capacity by 2030.
  • . The Qatar Investment Authority (qia), the country’s sovereign-wealth fund, contributed €2.4bn of cash for the deal and will henceforth own 9% of rwe. But it only paid about half the multiple for its stake in rwe that rwe shelled out for ConEd’s renewable business.
  • When Chancellor Olaf Scholz toured the Middle East in September, Qatar was one of the stops. Germany’s government hopes that the resource-rich Gulf state will one day provide exports of liquefied natural gas to replace imports from Russia. With qia now becoming rwe’s largest shareholder, the gas is more likely to start flowing
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