Without a doubt all business have been negatively impacted by the pandemic with some being hit more than others. The dirty and climate-destroying fossil fuel industry has really been hit hard (unfortunately it’s the workers who have been hurt by this and not the lying executives) and the industry isn’t even benefiting from reduced gas prices at the pump. On the other hand renewable energy companies are doing fine with only a slow down and not an industry-stopping problem. Renewable energy growth is expected this year with more utilities investing in renewable instead of fossil fuel because renewable are still cheaper than carbon-intensive alternatives.
Even the decline in electricity use in recent weeks as businesses halted operations could help renewables, according to analysts at Raymond James & Associates. That’s because utilities, as revenue suffers, will try to get more electricity from wind and solar farms, which cost little to operate, and less from power plants fueled by fossil fuels.
“Renewables are on a growth trajectory today that I think isn’t going to be set back long term,” said Dan Reicher, the founding executive director of the Steyer-Taylor Center for Energy Policy and Finance at Stanford University and an assistant energy secretary in the Clinton administration. “This will be a bump in the road.”
Fraking is really bad for all of us, it’s the process of using water to force dirty oil out of the ground. This practice destabilizes the ground causing earthquakes and the end result is more wasteful oil ultimately being consumed, which in turn, produces waste that gets released into the atmosphere. There’s nothing good about fraking. Scotland banned fraking in its territory last month and now it looks like the United Kingdom as a whole is on track to ban it too. With any luck the country will divert subsidies to the finite petroleum industry to the infinite renewable energy sector.
Environmentalists argue that the process contaminates water supplies, hurts wildlife, causes earthquakes and contributes to global climate change.
It is banned in many countries, including France and Germany, and the United Kingdom’s other constituent members — Scotland, Wales and Northern Ireland — are opposed to it.
Public mistrust of shale gas extraction is rising sharply.
According to the National Audit Office, opposition among Britons has risen to 40 percent from 21 percent since 2013.
“Public concern has centred on the risks to the environment and public health, from fracking-induced earthquakes, and the adequacy of the environmental regulations in place,” it said.
While Canada continues to condemn the future to climatic destruction by supporting the tar sands, their common wealth partner has decided to plan for the future. New Zealand has declared an all out ban on new offshore drilling projects and have even taken a step further to ban exploration for more stored hydrocarbons. Exploration for oil and gas greatly disturbs marine life forcing whales and fish to leave entire areas because the noise is so deafening.
Prime Minister Jacinda Ardern continues to do what every other national leader should be doing – acknowledging the current and oncoming challenges of climate change and reacting to it by creating a sustainable economy. It’s great to see New Zealand set itself up for future success while protecting the planet!
“We’re protecting industry and protecting future generations from climate change,” said Ardern.
“This is a responsible step, which provides certainty for businesses and communities that rely on fossil fuels.”
Ardern and the ministers are expected to outline plans for their version of a managed transition towards a carbon-neutral economy by 2050 and a goal of achieving 100 per cent renewable electricity by 2035.
Thanks to Delaney!
The implementation of electric busses into public transit fleets continues to grow – and it’s happening too quickly for the oil industry. Obviously the oil industry doesn’t like sustainable energy sources; however, public transit systems do. The efficiency gains of an electric bus fleet are evident and as a result less oil is being consumed. Chinese cities are the quickest at buying up electric busses and as a result the costs of adding these efficient vehicles to a fleet have gone down globally.
For every 1,000 battery-powered buses on the road, about 500 barrels a day of diesel fuel will be displaced from the market, according to BNEF calculations. This year, the volume of fuel buses take off the market may rise 37 percent to 279,000 barrels a day, about as much oil as Greece consumes, according to BNEF.
“This segment is approaching the tipping point,” said Colin Mckerracher, head of advanced transport at the London-based research unit of Bloomberg LP. “City governments all over the world are being taken to task over poor urban air quality. This pressure isn’t going away, and electric bus sales are positioned to benefit.”
Canada announced yesterday that, like other nations, the country will be monitoring how Canadian corporations behave beyond its borders. Over the years there have been too many accounts of corporations based in Canada getting into conflicts and abusing communities of people internationally. Obviously this sort of behaviour is bad for people and tarnishes any positive thoughts people have about Canada. It’s up to the new role of the ombudsperson to check to see that Canadian corporations don’t break any human rights or the like outside the nation’s borders.
The role of the Canadian ombudsperson for responsible enterprise will be to work towards resolving conflicts between local communities and Canadian companies operating abroad.
The position will focus on several sectors including mining, oil and gas and the garment sector.
It will also have the power to independently investigate and make recommendations in cases involving human rights complaints.