COP21 Paris: “What was once unthinkable is now unstoppable.” #ClimateChange #ClimateAction — United Nations Secretary General Mr. Ban Ki-moon
COP21 Paris: “195 nations have risen to the challenge of climate change.” — UNFCCC
The COP21 Paris 2015 deal attempts to limit global atmospheric temperature to less than 2 degrees Celsius and the measures adopted in the agreement included provisions for reviewing progress every five years, and for $100 billion dollars a year in climate finance for developing countries.
After difficult two week-long COP21 negotiations, representatives of 195 countries of the world reached a unanimous landmark climate change accord in Paris. The historical climate deal for the first time made all the nations of the world to commit to cut greenhouse gas emissions to help reduce disastrous global warming effects. The deal is partly legally… Continue reading COP21 Paris – un Succès!
Boeing is leading local and global collaboration for the complex challenges our world faces now, and looking to the future. We support industry-wide approaches to align on ways to improve the environment. And whether it’s through the development of sustainable aviation biofuel or by working with communities globally on important environmental issues, we’re making a difference.
From working to improve the environmental performance of our products and services to working together for the benefit of our homes and communities, Boeing is building a better planet. — Boeing website
Boeing (NYSE: BA) and Japanese aviation industry stakeholders have charted a course to develop sustainable aviation biofuel for flights during the 2020 Olympic and Paralympic Games in Tokyo, when millions of people are expected to visit Japan.
Upon initial investigation, some might say that the oil crisis has negatively impacted the energy market as a whole, making alternative sources of energy such as renewable energy look far less appealing.
The Different Worlds of the Oil Industry and the Renewable Energy Industry
However, advances in energy have rendered different market segments with varying energy sources that no longer compete directly against one another. For example, the primary function of oil is related to transportation — while renewable energy is mainly used for electricity. Therefore, the uptake in renewable energy hasn’t contributed to the dwindling value of oil.
Oil is seemingly unaffected by the market success of other energy sources. To counteract decreasing oil prices, firms are manipulating supply in hopes of raising prices — yet this short term plan will not be enough for the oil industry to bounce back. Despite the decline of crude oil price, firms such as oil and gas services company UnaOil continue to expand operations in oil rich fields, however the company’s strategic base in North Rumaila may not make a difference in the prediction that oil’s next crash will be permanent.
Unrelated to Renewable Energy: The ‘Beginning of the End’ for the Oil Age
Though the impending final collapse of oil are based on educated guesses, the rate of value decrease illustrates the oil industry’s recovery from the next crisis may be difficult. The ultimate proof of oil’s ill fated future according to Seeking Alpha is in the prices; what was once $120 per barrel is now just under $50. A devaluation by more than half, must surely confirm the oil industry’s concerns.
What does this mean for alternative and green energy sources?
Those currently working with renewable energy claim that the oil catastrophe is motivating people to go green. Compared to the volatility of oil value, renewable energy appears to be more stable and with fewer price spikes. But the current situation makes it clear that a switch to greener energies is not a solution for oil depletion, rather, it serves as a reminder about our treatment of the environment.
Robin Mills, author of The Myth of the Oil Crisis suggests the fundamental need to reduce greenhouse gas emissions is an issue more pressing than ever.
The problem with renewable energy is its need for greater funding — thus in order for them to draw investors, renewable energy developers need to lower costs and expand into providing heat for homes and industrial processes. Considering that aircraft (for one example) don’t have any alternative to oil, much of our global transportation system is still dependent on oil, which is why renewable energy must do more than merely supply electricity to stay competitive in the new energy paradigm.