I use oil. Don’t want to. Trump however looks at it differently. His position is rely on no other country for energy. I get that. His answer is drill, I don’t get that.
Face it, demand for petroleum has peaked. The risk of investing in companies that produce the fuels and pipelines that carry them is becoming more than many can swallow.
We are still signing 60 year pipeline deals and the rest of the world has gone green.
In 2016, almost 200 countries signed the Paris Agreement, committing to decrease greenhouse gas emissions. The question on many people’s minds was How? The truth is, we didn’t have to wait on some new method. The solutions were already here. We simply needed to ramp up existing renewables and not fossil fuels.
Need proof? There are many countries already forging ahead towards a low-carbon future. Look how other places around the globe are doing.
Albania, Iceland, and Paraguay essentially get all of their electricity from renewable sources (Albania and Paraguay 100% from hydroelectricity, Iceland 72% hydro and 28% geothermal). Norway obtains nearly all of its electricity from renewable sources (97 percent from hydropower).
Iceland, Sweden, Costa Rica, Nicaragua, United Kingdom, Germany, Uruguay and Denmark lead the way. China is expected to make the list soon.
Need more evidence of future demands? Money. Divestment is the opposite of investment. Norway’s $1.1 trillion wealth fund shocked the world last year when it announced a plan to divest all its oil and gas stocks, worth $35 billion at the time. Reports say the Majority in parliament is leaning toward approving divestment. Almost all the money is in U.S. companies.
Seattle moved towards total divestment of $3 billion from Wells Fargo, New York City wanting to divest the city’s $189 billion pension fund out of fossil fuel corporations within five years. The list is long.
Smart money is green. We knew Mr. Trump associated with “big oil” well before becoming president. Tillerson, Perry and others remain close. It’s a shame he didn’t know Tesla, Hydro or Solar.
Wake up America or be left behind.