A drastic fall in oil prices is having far-reaching consequences, reports Eric Ruder. AT BELOW $50 a barrel on January 7, the price of benchmark crude oil was well under half its high of $107.68 less than seven months before. The price plunge has been so rapid that even Wall Street's seasoned traders are alternately downing shots of whiskey and Pepto-Bismol--and that's before noon.
No matter what metric we use, the price of adapting to climate change and mitigating against it runs high. However, the cost of doing little to nothing runs even steeper and, unlike the apathetic approach, taking action comes with some significant economic benefits.
In order to build an adequate low-carbon 21st century energy system that scientists have said is necessary to stave off the worst impacts of climate change, a new report argues that the world must look beyond large-scale, centralized renewable projects—such as industrial solar and wind farms—and take up efforts to build more democratically-controlled and decentralized power grids.
Albert Einstein is rumored to have said that one cannot solve a problem with the same thinking that led to it. Yet this is precisely what we are now trying to do with climate change policy.
The Obama administration, the Environmental Protection Agency, many environmental groups, and the oil and gas industry all tell us that the way to solve the problem created by fossil fuels is with more fossils fuels. We can do this, they claim, by using more natural gas, which is touted as a “clean” fuel— even a “green” fuel.
Kathy Chen and Stian Reklev, Reuters, August 31, 2014
(Reuters) - China plans to roll out its national market for carbon permit trading in 2016, an official said Sunday, adding that the government is close to finalising rules for what will be the world's biggest emissions trading scheme.
The rise of the Internet means that simple factual issues can be checked quicker than would have been believed possible a generation ago. The rise of social media means that facts are not checked, they are retweeted.
Such is the case with renewable energy in Germany, where it appears almost anything is to be believed.
Summer is in full swing, and there's news now that the world just had its hottest June on record. And it also had its hottest May on record. With growing concern over the burning of fossil fuel affecting climate change, there's been an increased interest in shifting our economy to one that revolves around renewable energy, otherwise as known as a green economy. But is this shift even feasible?Now joining us to get some answers to this question are our two guests.