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Institutional Investor (March 1)

2018/ 03/ 04 by jd in Global News

New York City “is aiming for full divestment of coal, oil, and gas from its $189 billion retirement system–but could get sued in the process” if such a move is deemed contrary to fiduciary duty. If they successfully divest the roughly $5 billion in assets linked to fossil fuel, however, “New York’s pension funds would be the first major U.S. retirement system to rid itself of fossil fuels.”


Newsweek (January 18)

2018/ 01/ 20 by jd in Global News

“As 2018 begins, the United States has become the largest producer of gas, oil, and coal in history. Its stock market is at record levels. The economy is growing at a 3 percent rate—and unemployment may dip below 4 percent, even though some commentators have claimed over the last decade that it likely would never fall below 5 percent again. The auto, steel, manufacturing, financial, agricultural, and high-tech industries are ascendant.”


Washington Post (November 27)

2016/ 11/ 29 by jd in Global News

“Japan is engaged in a national crisis over nuclear power, but the country has embraced natural gas. The United States, by contrast, is seeing a roiling national debate over natural gas and fracking, but concerns over nuclear power are muted. Each country is half right.” As countries invest in renewable energy, they “should keep their options open.” To successfully phase out the deadliest energy sources, e.g. coal, “the world needs fracking – and nuclear power.”


The Economist (April 16)

2016/ 04/ 17 by jd in Global News

“Across the developing world, solar power is hitting its stride.” In 2015, “global solar-energy capacity rose by 26% last year,” with China and India accounting for much of the gain. China displaced Germany in 2015 “to become the biggest producer of solar energy, benefiting from its dominance of solar-panel manufacturing and policies to reduce dependence on dirtier fuels, such as coal.” Not content to be left behind, India is also racing ahead with plans to increase solar installations twentyfold. “KPMG, a consultancy, expects solar’s share of India’s energy mix to rise to 12.5% by 2025.”


Bloomberg (December 10)

2015/ 12/ 11 by jd in Global News

“Investors betting that China’s near-insatiable appetite for industrial raw materials will drive global economic growth may want to skip the shipping news. For the first time in at least a decade, combined seaborne imports of iron ore and coal — commodities that helped fuel a manufacturing boom in the world’s second-largest economy — are down from a year earlier.”


USA Today (November 9)

2015/ 11/ 10 by jd in Global News

“Innovation is the key to moving from dirtier fuels to cleaner ones.” To the joy of environmentalists, President Obama rejected the proposed Keystone pipeline to carry oil from Canadian tar sands to the U.S. “The main factor behind Obama’s decision is something environmentalists hate even more than Keystone: hydraulic fracturing, or fracking,” which has added over 3.5 million barrels per day to U.S. domestic production. “The lesson for climate change is obvious… If we want to keep oil (and coal) in the ground, we need to make other forms of energy cheaper. That means nurturing technologies such as natural gas extraction. It also means promoting another technology that environmentalists love to hate: nuclear energy.”


Financial Times (June 14)

2015/ 06/ 15 by jd in Global News

“The slow pace of the shift away from fossil fuels is evidence of their compelling advantages in terms of cost and convenience. Tackling the threat of catastrophic climate change cannot rely on wind and solar power alone but requires multiple changes, including a shift within fossil fuels away from coal towards gas.”


New York Times (August 17)

2014/ 08/ 18 by jd in Global News

China is both the world’s largest consumer of coal and the world’s largest producer of CO2 emissions. Encouragingly, that may be set to change. “The wretched air in China’s cities is forcing Chinese officials to change their energy policies. If they do a good job tackling local pollution, they could also have a big impact on climate change.” Details are still scarce, but could include a ban on the use of coal in urban areas by 2020.


The Economist (April 19)

2014/ 04/ 20 by jd in Global News

Coal is a “cheap, ubiquitous and flexible fuel” that will be “the fuel of the future, unfortunately.” Although it remains very dirty, coal “offers the best chance for poor countries wanting to get rich” and even for some rich countries, like Japan and Germany, seeking nuclear alternatives.


Los Angeles Times (January 6)

2013/ 01/ 06 by jd in Global News

“Societal change usually happens slowly, even once it’s clear there’s a problem.” This is not necessarily a bad thing. A leisurely pace allows a consensus to be established, eliminating backlash. “With climate change, however, there simply isn’t time to waste…. It’s a fight between human beings and physics. And physics is entirely uninterested in human timetables. Physics couldn’t care less if precipitous action raises gas prices or damages the coal industry in swing states. It couldn’t care less whether putting a price on carbon slowed the pace of development in China or made agribusiness less profitable.”


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