BioEnergy: the Biggest Renewable Energy Story of 2018

Want to Get up to Speed on Renewable Energy in 2018? 

The big news in 2018 is the astonishing growth opportunity for bioenergy.

In 2017 bioenergy produced half of all renewable energy globally — as much as hydropower, wind power and solar power combined — and this energy segment continues to grow rapidly.

But before that, let’s have a quick refresher on renewable energy…


This graphic shows how much energy is available on planet Earth from all known sources — both renewable energy and non-renewable energy

Planetary energy reserves. Image courtesy of Perez and Perez.
Planetary energy reserves. Image courtesy of Perez and Perez.

Here’s how many people are employed in the solar industry compared to the fossil fuel, wind and nuclear electricity generation industries in the U.S (2016)

More Workers in Solar than Fossil Fuel Power GenerationExcerpt from Statista.com | “Renewable energy has made impressive strides in the U.S. in recent years. According to a new report from the U.S. Department of Energy, solar power employs more people than electricity generation through coal, oil and gas combined. Last year, solar power accounted for 43 percent of the Electric Power Generation sector’s workforce while fossil fuels combined employed 22 percent.

The statistic will be welcomed with open arms by those trying to refute Donald Trump’s assertion that renewable energy projects are bad news for the U.S. economy. Around 374,000 people were employed in solar energy, according to the report while generation through fossil fuels had a workforce of just over 187,000. The solar boom can be attributed to construction work associated with expanding generation capacity.

The report states that the employment gap is actually growing with net coal generation decreasing 53 percent over the last 10 years. During the same period of time, electricity generation through gas expanded 33 percent while solar went up by an impressive 5,000 percent.” — Niall McCarthy (Statista.com)


Here’s How Many People Are Employed in Renewable Energy Worldwide (2017)

The renewable energy industry employs 10.3 million people worldwide, according to new data from the International Renewable Energy Agency.
The renewable energy industry employs 10.3 million people worldwide, according to new data from the International Renewable Energy Agency (IRENA)

Excerpt from IRENA | “The industry created more than 500 000 new jobs globally in 2017, with the total number of people employed in renewables (including large hydropower) surpassing 10 million for the first time.

Renewable Energy and Jobs, presents the status of employment, both by technology and in selected countries, over the past year. Jobs in the sector (including large hydropower) increased 5.3% in 2017, for a total of 10.3 million people employed worldwide, according to this fifth edition in the series.

China, Brazil, the United States, India, Germany and Japan have remained the world’s biggest renewable energy employers, representing more than 70% of such jobs. While growing numbers of countries reap socio-economic benefits from renewables, the bulk of manufacturing still takes place in relatively few countries. Four-fifths of all renewable energy jobs in 2017 were in Asia, the report finds.

Among the various technologies based on renewables, the solar photovoltaic (PV) industry supports the most jobs. PV jobs increased almost 9% to reach 3.4 million around the world in 2017, reflecting the year’s record 94 gigawatts of PV installation.

Jobs in the global wind power industry contracted slightly to 1.15 million. Europe still accounts for five of the world’s top ten countries for installed wind power capacity.” — IRENA


This graphic shows global subsidies for fossil fuel vs. renewable energy (2018)

Global subsidies for fossil fuels and renewable energy
Fossil fuels contribute both electricity and transportation fuel to the global energy mix, that is why *Oil* and *Gas* used for transportation are listed separately from *Fossil fuel electricity* as these fuels receive differing subsidies depending how it is used. For example: Diesel fuel can be burned to power cars and trucks and some aircraft (transportation fuel) or diesel fuel can be burned to produce electricity (a power plant) or diesel fuel can be burned to produce heat for your home (home heating oil) Each use has a different subsidy regime attached to it.

The Solutions Project: 100% Renewable Energy by 2050

The Solutions Project interactive renewable energy map
Click the image to visit The Solutions Project interactive map to see how your country or major city could benefit from a switch to 100% renewable energy by the year 2050.

Excerpt from TheSolutionsProject.org | “Right now, everything in our lives could be powered by clean, renewable energy. From our homes and smartphones to the electricity running our local grocery stores, clean energy is not only possible – it’s already happening. Solutions Project accelerates the transition to 100% clean energy by championing a movement that is more inclusive, more collaborative, and more celebratory. Through storytelling, grantmaking, and capacity building, we honor clean energy leaders, invest in promising solutions, and build relationships between unlikely allies.

Together, we can make renewable energy a reality for everyone – 100% for 100%.” — TheSolutionsProject.org


Late-Breaking News: International Energy Agency Report Finds Bioenergy Poised For Massive Growth 2018-2023

Click to read the late-breaking IEA Renewable Energy report -- Renewables 2018
Click to read the late-breaking IEA Renewable Energy report executive summaryRenewables 2018

Excerpt from IEA Report 2018 | “Modern bioenergy is the overlooked giant within renewable energy. Modern bioenergy (excluding the traditional use of biomass) was responsible for half of all renewable energy consumed in 2017 – it provided four times the contribution of solar photovoltaic (PV) and wind combined. Most modern bioenergy is used in final energy consumption to deliver heat in buildings and for industry.

Bioenergy is the largest source of growth in renewable consumption over the period 2018 to 2023. Bioenergy – as solid, liquid or gaseous fuels – will account for 30% of the growth in renewable consumption in this period. This is a result of the considerable use of bioenergy in heat and transport. Other renewables have less penetration in these two sectors, which account for 80% of total final energy consumption.

In 2023, bioenergy will remain the predominant source of renewable energy, although its share of total renewable energy declines from 50%, in 2017, to 46% as the expansion of both solar PV and wind accelerates in the electricity sector.” — IEA


Late-Breaking Bioenergy Video Produced by the IEA

Written by John Brian Shannon


Why can’t we have a level energy subsidy playing field?

by John Brian Shannon |  Reposted from JBS News

All I’m asking for is that renewable energy gets the same subsidies as fossil fuels or nuclear energy. Is that so unreasonable?

You can determine the subsidy costing by any method you choose using a per unit of energy formula — per Barrel of Oil equivalent (BOe) or per kW/h, or any other unit of energy formula you want.

North America’s energy security (similar could be said for Europe, Asia and Australia) is better served by LETTING THE MARKET CHOOSE what’s best for the continent and that can only happen when all energy producers play on the same subsidy playing field. (The cream will rise to the top)

Renewable Energy adds to national security, while Conventional Energy leaves industrialized nations vulnerable

North America’s (for example) biggest national security vulnerability (aside from bio-warfare) comes from literally hundreds of thousands of miles of electrical transmission corridors (pylons and power lines) and pipelines that crisscross the continent.

Every Pentagon General, along with every military rank down to Corporal knows it would be boringly easy for even the most inept enemy of the United States and Canada (both national grids are interconnected) to destroy the North American grid with as little as three well-placed air-to-ground missiles, or alternatively, three truck bombs. Those interconnect sites are unbelievably unprotected.

If that were to happen in mid-winter, millions of North Americans would die, and that’s indisputable.

That it hasn’t happened, proves to me that North America doesn’t have any ‘real’ enemies or it would have occurred a long time ago. (Yes, the U.S. and Canada are ‘irritated’ at some countries and some countries are ‘irritated’ at us — but by virtue of the fact that *they haven’t hit us where we’re most vulnerable* proves they aren’t real enemies, they’re only ‘irritants’)

Centralized Power vs. Decentralized Power

Conventional grid adherents are living in a previous century — a central grid WAS the best thing for North America in the 20th-century — but those days are long gone!

Fossil fuel supporters should stop helping our enemies, which they do by supporting a conventional national grid that even the U.S. military 3X over couldn’t protect!

Decentralized power is the ONLY choice for an energy-secure America!

Make better investment returns on Renewable Energy by leveling the subsidy playing field

I understand that many people are heavily invested in fossil fuels and nuclear power — and I don’t blame them, they were safe and secure investments for decades, but such industries now run counter to the national interest — good investment returns aside!

And yes, the ONLY reason you have those high returns is that those industries are heavily-subsidized by U.S. and Canadian taxpayers; Oil & Gas get $80 billion per year in the U.S. and about $10 billion annually in Canada, nuclear a bit less — but nobody really knows for sure, not even the governments — because it’s all mashed together with nuclear fuel production, long-term ‘spent fuel’ storage, nuclear warhead production and nuclear warhead disposal. (I suspect a similar situation in Europe)

Normal citizens can’t see this because those white elephants are obscured by mountains of cash!

Efficient investment vs. Inefficient investment

Energy companies have become like the Big 3 during the 1960’s and 1970’s, big, powerful, lazy, and wholly unwilling to adapt to changing market conditions.

Remember when 95% of cars registered in the U.S.A. were domestic built and sold? Well, due to the laziness of the Big 3, nowadays less than 35% of new car registrations are North American makes, and more than half of the parts are supplied by Asia or Mexico!

You call that progress???

It’s killing North America!

Renewable Energy creates more jobs than Conventional Energy (even using fossil fuel industry stats!)

Millions of people unemployed in North America because the 1% wanted higher investment returns on their energy stocks! UN-AMERICAN in the extreme!

Energy companies and their investors MUST become patriotic by becoming ‘fleet of foot’ and able to adapt to the already changed national security paradigm — and become ‘ENERGY COMPANIES’ instead of (only) Oil & Gas or (only) nuclear or (only) coal companies.

Profit is a great thing! Energy companies should make plenty of profit because energy is an ultra-important factor in the 21st-century. However, uneven energy subsidies are not a great thing.

Putting a square peg in a square hole, not a square peg in a round hole

When we train soldiers, we don’t try to put a square peg in a round hole — we choose those people based on their merit.

(The best snipers become our snipers, the best tank captains become our tank captains, and the best fighter pilots don’t peel potatoes aboard our warships!) Rather obvious when you think about it, isn’t it?

By the same token, if electricity companies were to embrace ALL energy (they don’t do that now because some energy is highly subsidized and some isn’t) they could then have the option to put a round peg in a round hole and a square peg in a square hole. As it should be!

I must add that gas-fired power generation is increasingly important towards meeting demand — moreso as renewable energy comes on stream. Natural gas burns one million times cleaner than brown coal (lignite) and up to ten-thousand times cleaner than the best black coal (anthracite) and gas power plants can be just as local to demand centres as required — quite unlike hydro-power dams and coal-fired power plants, and even nuclear power plants which usually aren’t welcome near city centres.

READ: Full cost accounting for the life-cycle of coal (Harvard Medicine)

Again, by setting an even subsidy playing field, THE MARKET will choose which kind of power to use in what location — and don’t worry — your precious investment returns will be just as high as they are now. Maybe higher!

As for U.S. jobs, solar produces more jobs than all other producers put together — and rising exponentially!

Renewable energy vs. 'green bullets'
More workers in solar than in all fossil fuel power generation combined (U.S.A.) — Statista

Summary

By setting a level subsidy playing field, the cream will rise to the top, and the market will choose which peg to put in which demand hole — nothing could be more efficient!

And in that case, renewable energy will win hands down!

National security will become greatly enhanced as industrialized nations will no longer be dangling from a thread via the hundreds of thousands of miles of pylons and power lines that will no longer be required, as renewable energy is local energy, while conventional energy must carry electricity many thousands of miles.

Stop choosing profits over national security!

Stop arguing against national security, stop arguing against a free market, and stop arguing that you can’t make the same or better profits via renewable energy. It’s intellectually dishonest.

And for those who want to send me ‘green bullets’ — bring it!


Related Articles:

  • Trump’s Quixotic Energy Policy (Project Syndicate)
  • On the economics of wind and solar power (The Beam)
  • Mr Trump: Tear down those energy subsidies! (kleef.asia)
  • Energy Darwinism: The Case for a Level Playing Field (JBS News)

The Inevitability of Renewable Energy

by John Brian Shannon

Renewable Energy costs have fallen to such a level over the past ten years that it now competes, sans subsidies in some locations, against heavily-subsidized fossil fuel power generation, nuclear power generation and hydro-electric dams which receive billions of dollars of subsidies every year.

Many people might be surprised to hear that; It certainly hasn’t been reported by a majority of the mainstream media.

Fuel Subsidies: The Elephant in the Room

Historically, the reason given for subsidies was to allow new industries to move past the typically turbulent first few years of operation, until they reached a sort of ‘steady-state’ when the business model was fully functional and profits alone could sustain the business, yet the conventional energy industries that have been an important and profitable part of the energy sector are still receiving billions in subsidies annually — while the new kid on the block finds that their much-smaller subsidies are tapering.

Since the first oil wells were struck in Pennsylvania in the late 1890’s, subsidies of one form or another have been an important factor in our primary and secondary energy world.

After the coal price crash in 2014 and the oil price crash of 2016, total volumes of coal and oil deliveries dropped significantly, while the actual subsidy regimes in place for those fuels did not change significantly. Therefore, any perceived subsidy drop must be viewed in the context of lower production which affected the total subsidy amounts received by those industries.

At the same time, many countries that have supported the development of renewable energy have lowered or eliminated their renewable energy subsidies. Germany is an telling example of an early-adopter that discontinued their renewable energy Feed-In Tariffs, while the United States has canceled their lucrative Production Tax Credit for wind energy projects.

And nobody seems to notice! Renewable Energy installations are continuing, the rate of new RE installations is at an all-time high and increasing on a month-to-month basis.

Renewable Energy vs. Conventional Energy

Global Energy Subsidy Totals WEO-2016

The value of subsidies to fossil fuels fell sharply in 2015 to $325 billion, down from almost $500 billion in 2014. Lower fossil-fuel prices were the main reason for the drop, but lower prices have also given additional impetus to pricing reforms in many countries, both fossil fuel importers and exporters. Even with the drop in 2015, the amount going to subsidise fossil fuels is still more than double the $150 billion spent on subsidies to renewable energy.

Renewable energy is the growth story of WEO-2016

In our main scenario, nearly 60% of all new power generation capacity to 2040 comes from renewables and, by 2040, the majority of renewables-based generation is competitive without any subsidies. In a scenario compatible with 2°C, significantly faster growth means that, in the four largest power markets (China, the United States, the European Union and India), variable renewables become the largest source of generation. — International Energy Agency | Fact Sheet: World Energy Outlook 2016

Renewable Energy jobs vs. Conventional Energy jobs.
Renewable Energy jobs vs. Conventional Energy jobs in the U.S. Image courtesy of Statista.

“According to a new report from the U.S. Department of Energy, solar power employs more people than coal, oil and gas combined.

Last year, solar power accounted for 43 percent of the Electric Power Generation sector’s workforce, while fossil fuels combined employed 22 percent. The statistic will be welcomed with open arms by those trying to refute Donald Trump’s assertion that renewable energy projects are bad news for the U.S. economy.

Around 374,000 people were employed in solar energy, according to the report while generation through fossil fuels had a workforce of just over 187,000. The solar boom can be attributed to construction work associated with expanding generation capacity.

The report states that the employment gap is actually growing with net coal generation decreasing 53 percent over the last 10 years.

During the same period of time, electricity generation through gas expanded 33 percent while solar went up by an impressive 5,000 percent.” — Niall McCarthy | Statista

Power to the People!

Conventional energy producers in business for over a century can’t seem to survive without huge subsidy amounts — while Renewable Energy barely topped $150 billion globally, and those RE subsidies are now disappearing.

Energy Darwinism:

It’s one more reason why it’s a great time to be a Renewable Energy blogger!

Energy Darwinism: The Case for a Level Playing Field

Fossil Fuel Subsidies Must End – Investor Group tells G20

by John Brian Shannon

In advance of the G20 Hamburg Summit in July 2017 investor groups that control $2.8 trillion in assets report that fossil fuel subsidies are counterproductive to G20 economies.

This latest call to remove fossil fuel subsidies came two years after the G20 Brisbane Summit where leaders announced their intention to, “reaffirm our commitment to rationalise and phase out inefficient fossil fuel subsidies that encourage wasteful consumption.”G20 Brisbane Leaders’ Communiqué (November 2014, Item #18)

The 16-member mega-investor group says G20 nations should set a clear timeline “for the full and equitable phase-out by all G20 members of all fossil fuel subsidies by 2020,” and mobilize “to accelerate green investment and reduce climate risk” in a report submitted to G20 foreign ministers preparing for the upcoming G20 Summit in Hamburg, Germany.

G20 fossil fuel subsidies total $452 billion a year according to the Overseas Development Institute and Oil Change International.

A Must Read: Empty promises:
G20 subsidies to oil, gas and coal production

Fossil Fuel Subsidies chart from Empty Promises - G20 subsidies to oil, gas and coal production. Image courtesy of ODI and Oil Change International
Annual G20 Fossil Fuel Subsidies (2015)

Meanwhile, annual subsidies for renewable energy in the G20 nations amounts to only 1/4 of the annual subsidy awarded to fossil fuels, which have received mega-billions of subsidy dollars every single year since 1918.

G20 Fossil Fuel Subsidies total 452 billion globally 2015, while Renewable Energy Subsidies total 121 billion globally 2015
Annual G20 Fossil Fuel Subsidies = $452 billion. Renewable Energy Subsidies = $121 billion (2015)

For the next few paragraphs, let’s look at the United States exclusively…

Fossil Fuel Subsidies - Energy subsidies from 1918-2009. Image courtesy of Nancy Pfund
1918-2009 Fossil Fuel Subsidies vs. Renewable Energy Subsidies in the U.S. The Historical Role of Federal Subsidies in Shaping America’s Energy Future: What Would Jefferson Do?

The average annual subsidy for Oil and Gas alone in the U.S. from 1918-2009 totals $4.86 billion.

Adding all those (oil and gas only) subsidy years together gets you the astonishing figure of $442,260,000,000. in total from 1918-2009 — that’s half a trillion dollars right there, folks.

Which doesn’t include wars to protect foreign oil exporters to the United States.

Nor does it include so-called ‘externalities’ which are the negative costs associated with the burning of oil and gas — such as the 200,000 annual premature deaths in the U.S. caused by airborne pollution, along with the other healthcare costs associated with air pollution, the environmental costs to farmers and to the aquatic life in our rivers and marine zones, and higher infrastructure (maintenance) costs.

Fossil Fuel Subsidies chart from DBL Investors What Would Jefferson Do. Total Capital Gains tax allowance coal subsidy 1.3 trillion 2000-2009
Fossil Fuel Subsidies chart from DBL Investors What Would Jefferson Do? which shows the capital gains allowance (a type of subsidy) enjoyed by the U.S. coal industry that totals $1.3 billion over the 2000-2009 timeframe.

This chart shows only the U.S. capital gains allowance! There are other coal subsidies, direct and indirect, at play in America — in addition to the externality costs of coal.

On the Externality Cost of Coal
Harvard Medicine

Each stage in the life cycle of coal—extraction, transport, processing, and combustion—generates a waste stream and carries multiple hazards for health and the environment. These costs are external to the coal industry and are thus often considered “externalities.”

We estimate that the life cycle effects of coal and the waste stream generated are costing the U.S. public… over half a trillion dollars annually.

Many of these so-called externalities are, moreover, cumulative.

Accounting for the damages conservatively doubles to triples the price of electricity from coal per kWh generated, making wind, solar, and other forms of non-fossil fuel power generation, along with investments in efficiency and electricity conservation methods, economically competitive. — Full Cost Accounting for the Life Cycle of Coal (Harvard Medicine)

Fossil Fuels = High Subsidy Costs, High Externality Costs and Lower Employment: When Compared to Renewable Energy

In addition to the direct and indirect subsidy costs of fossil fuels, there are the externality costs associated with carbon fuels, but almost more important, is the ‘lost opportunity cost’ of the carbon economy.

Over many decades in the U.S., conventional energy producers have tapered their labour costs to only a few persons per barrel of oil equivalent (BOE) while renewable energy hires more workers per BOE, which will result in a significant net gain for the U.S. economy.

Infographic: More Workers In Solar Than Fossil Fuel Power Generation | Statista You will find more statistics at Statista

Even with the paltry subsidy regimes presently in place for U.S. renewable energy in the year 2017 — once fossil fuel subsidy costs, the externality costs of fossil fuels, and the ‘missed opportunity’ costs (fewer jobs per BOE) are factored-in to the equation, renewable energy really begins to shine.

And best of all — by 2020 and without any subsidies (yes, really!) renewable energy will regularly beat highly subsidized conventional energy generators at their own game — by lowering electricity costs, by lowering healthcare and infrastructure costs, and by creating thousands of new, good-paying jobs.

Who was saying that renewable energy was a pipe-dream?

Energy subsidies | Levelling the Subsidy Playing Field

Originally published at JBS News by John Brian Shannon John Brian Shannon

By now, we’re all aware of the threat to the well-being of life on this planet posed by our massive and continued use of fossil fuels and the various ways we might attempt to reduce the rate of CO2 increase in our atmosphere.

Divestment in the fossil fuel industry is one popular method under discussion to lower our massive carbon additions to our atmosphere

The case for divestment generally flows along these lines;
By making investment in fossil fuels seem unethical, investors will gradually move away from fossil fuels into other investments, leaving behind a smaller but hardcore cohort of fossil fuel investors.

Resulting (in theory) in a gradual decline in the total global investment in fossil fuels, thereby lowering consumption and CO2 additions to the atmosphere. So the thinking goes.

It worked well in the case of tobacco, a few decades back. Over time, fewer people wanted their names or fund associated with the tobacco industry — so much so, that the tobacco industry is now a mere shadow of its former self.

Interestingly, Solaris (a hybridized tobacco plant) is being grown and processed into biofuel to power South African Airways (SAA) jets. They expect all flights to be fully powered by tobacco biofuel within a few years, cutting their CO2 emissions in half. Read more about that here.

Another way to curtail carbon emissions is to remove the massive fossil fuel subsidies

In 2014, the total global fossil fuel subsidy amounted to $548 billion dollars according to the IISD (International Institute for Sustainable Development) although it was projected to hit $600 billion before the oil price crash began in September. The global fossil fuel subsidy amount totalled $550 billion dollars in 2013. For 2012, it totalled $525 billion dollars. (These aren’t secret numbers, they’re easily viewed at the IEA and major news sites such as Reuters and Bloomberg)

Yes, removing those subsidies would do much to lower our carbon emissions as many oil and gas wells, pipelines, refineries and port facilities would suddenly become hugely uneconomic.

We don’t recognize them for the white elephants they are, because they are obscured by mountains of cash.

And there are powerful lobby groups dedicated to keeping those massive subsidies in place.

Ergo, those subsidies likely aren’t going away, anytime soon.

Reducing our CO2 footprint via a carbon tax scheme

But for all of the talk… not much has happened.

The fossil fuel industry will spin this for decades, trying to get the world to come to contretemps on the *exact dollar amount* of fossil fuel damage to the environment.

Long before any agreement is reached we will be as lobsters in a pot due to global warming.

And know that there are powerful lobby groups dedicated to keeping a carbon tax from ever seeing the light of day.

The Third Option: Levelling the Subsidy Playing Field

  • Continue fossil fuel subsidies at the same level and not institute a carbon tax.
  • Quickly ramp-up renewable energy subsidies to match existing fossil fuel subsidies.

Both divestment in fossil fuels and reducing fossil fuel subsidies attempt to lower our total CO2 emissions by (1) reducing fossil fuel industry revenues while (2) a carbon tax attempts to lower our total CO2 use/emissions by increasing spending for the fossil fuel industry

I prefer (3) a revenue-neutral and spending-neutral solution (from the oil company’s perspective) to lower our CO2 use/emissions.

So far, there are no (known) powerful fossil fuel lobby groups dedicated to preventing renewable energy from receiving the same annual subsidy levels as the fossil fuel industry.

Imagine how hypocritical the fossil fuel industry would look if it attempted to block renewable energy subsidies set to the same level as fossil fuel subsidies.

Renewable energy received 1/4 of the total global subsidy amount enjoyed by fossil fuel (2014)

Global Energy Subsidies (2014, in billions USD). Image courtesy of IISD.
Global Energy Subsidies 2014. (billions USD). Image courtesy of IISD.

Were governments to decide that renewable energy could receive the same global, annual subsidy as the fossil fuel industry, a number of things would begin to happen;

  • Say goodbye to high unemployment.
  • Say goodbye to the dirtiest fossil projects.
  • Immediate lowering of CO2 emissions.
  • Less imported foreign oil.
  • Cleaner air in cities.
  • Sharp decline in healthcare costs.
  • Democratization of energy through all socio-economic groups.

Summary

Even discounting the global externality cost of fossil fuel (which some commentators have placed at up to $2 trillion per year) the global, annual $548 billion fossil fuel subsidy promotes an unfair marketplace advantage.

But instead of punishing the fossil fuel industry for supplying us with reliable energy for decades (by taking away ‘their’ subsidies) or by placing on them the burden of a huge carbon tax (one that reflects the true cost of the fossil fuel externality) I suggest that we simply match the renewable energy subsidy to the fossil subsidy… and let both compete on a level playing field in the international marketplace.

Assuming a level playing field; May the best competitor win!

By matching renewable energy subsidies to fossil fuel subsidies, ‘Energy Darwinism’ will reward the better energy solution

My opinion is that renewable energy will win hands down and that we will exceed our clean air goals over time — and stop global warming in its tracks.

Not only that, but we will create hundreds of thousands of clean energy jobs and accrue other benefits during the transition to renewable energy. We will also lower healthcare spending, agricultural damage, and lower damage to steel and concrete infrastructure from acid rain.

In the best-case future: ‘Oil & Gas companies’ will simply become known as ‘Energy companies’

Investors will simply migrate from fossil fuel energy stock, to renewable energy stock, within the same energy company or group of energy companies.

At the advent of scheduled airline transportation nearly a century ago, the smart railway companies bought existing airlines (or created their own airlines) and kept their traditional investors and gained new ones.

Likewise, smart oil and gas companies, should now buy existing renewable energy companies (or create their own renewable energy companies) and keep their traditional investors and gain new ones.

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