economy

California Climate Policies a $48 Billion Boon for State’s Economy, Analysis Finds

A new analysis by a non-partisan business group finds that California’s climate policies have been a boon for the state’s economy.

Assembly Bill 32, also known as AB 32 or the Global Warming Solutions Act of 2006, requires California to reduce climate-cooking greenhouse gas emissions to 1990 levels by 2020 — which meant cutting emissions about 25 percent from where they were at in 2006, when AB 32 was passed by the California State Legislature and signed into law by Governor Arnold Schwarzenegger.

According to the analysis from Environmental Entrepreneurs (E2analysis, AB 32 and related climate policies have pumped some $48 billion into the state economy over the past decade while helping create about 500,000 jobs.

Renewable Energy Jobs Keep Growing While Fossil Fuel Jobs Keep Shrinking

More than 8.1 million people are now employed by the renewable energy industry worldwide, an increase of five percent over last year, according to the International Renewable Energy Agency (IRENA).

The number of renewable energy jobs worldwide went up in 2015 while jobs in the broader energy sector fell. In the United States, for example, renewable energy jobs increased six percent, but employment in oil and gas fell 18 percent.

That’s perhaps not surprising, as renewable energy continues to break records. According to the US Energy Information Administration (EIA), utility-scale electrical generation from renewable sources like solar and wind hit an all-time high of 16.89 percent of the country’s total electricity generation in the first quarter of 2016. During the same time period in 2015, renewable energy's share of net generation was just 14 percent. Distributed solar photovoltaic and wind energy have also continue to grow quickly, the EIA found.

Democratic Senator Believes His Party “In Denial” About Fossil Fuel Importance

Democratic Senator Joe Manchin from West Virginia has always been at odds with the majority of his fellow Democrats in terms of environmental protection, but his statements a few weeks ago show that he might have actually become an enemy to the environment.
 
In early April, Manchin told The Wall Street Journal that while Republicans have plenty of “deniers” on their side who refuse to admit that climate change is real, the Democratic Party has plenty of “deniers”, too. According to Manchin, those “deniers” are the ones who believe that the United States can move to a fossil fuel-free society.
 
In his own words:  “Even worse than that, we have deniers that believe we’re going to run this country or run this world without fossil…That’s a worse denier, thinking they’re just going to just shift it and everything’s going to be hunky-dory.”

Hillary Clinton Suddenly Backs Off Her Strongest Environmental Proposal

The biggest criticism lobbed at President Obama from the environmental movement is that he speaks out of both sides of his mouth. While he has always accepted that climate change is real and needs to be addressed, his proposals have always been countered by some sort of gift to the fossil fuel industry — leasing new lands for offshore drilling, expanding coal leases, increasing domestic oil exploration, lifting the crude oil export ban, etc.
 
So last November, when former Secretary of State Hillary Clinton announced that she would do away with the coal industry if elected president, environmentally conscious voters applauded her actions. Her proposal was broad, ambitious, and would have made a serious impact on the amount of carbon that the United States was producing while at the same time protecting both the economy and the environment.

Hillary Clinton’s Plan To Silence The “War On Coal” For Good

In the run-up to the 2012 U.S. Presidential elections, the “war on coal” talking point was used incessantly by the Republican Party. It wasn’t until nearly a year after those elections that the coal industry publicly admitted that the war on coal never existed in the first place, but that hasn’t stopped politicians from using that phrase when they want to attack the EPA or plans to limit U.S. carbon emissions.

The argument, according to the politicians who carry water for the coal industry, is that reducing carbon emissions will lead to a reduction in coal industry jobs, thus harming the U.S. economy. While reports show that the EPA’s carbon emissions rules will actually create more jobs than would be lost, the claim is still used to strike fear into the hearts of the people who depend on those dangerous jobs for their livelihood.

So how can you fight a battle that doesn’t exist while simultaneously easing the fears of American workers? Hillary Clinton has the answer.

Ignorance for a Price: How The Fossil Fuel Industry Pays Politicians To Doubt Science

One year ago, 68% of American citizens believed that climate change was real. Today, that number has jumped to 76%, according to a new poll by UT Energy. That shift is not surprising, considering the record-breaking temperatures and widespread droughts and weather disruptions that have occurred in the last 12 months.

But what is most surprising about this new poll is the shift in attitudes of Republican voters.

Wall Street Warns About Cost Of Doing Nothing On Climate Change

As President Obama heads to the Arctic to discuss climate change, just mere weeks after approving Shell Oil’s bid to drill for oil in the treacherous Chukchi Sea, a very different group is sounding the alarm over the dangers of a warming climate. That group, surprisingly, is Wall Street bankers.

Citibank has released a new report showing that taking action now against the growing threat of climate change would save an astonishing $1.8 trillion by the year 2040. Conversely, the report says that if no action is taken, the economy will lose as much as $44 trillion during that same time period.

The Global Coal Boom Is Going Bust: Report

A new report by CoalSwarm and the Sierra Club provides compelling evidence that the death knell for the global coal boom might very well have rung some time between 2010 and 2012.

Based on data CoalSwarm compiled of every coal plant proposed worldwide for the past five years as part of its Global Coal Plant Tracker initiative, the report finds that for every coal plant that came online, plans for two other plants were put on hold or scrapped altogether.

The failure-to-completion rate was even higher, as much as 4 to 1, in Europe, South Asia, Latin America, and Africa, according to the report, which also says that the long decline in coal-fired energy production in the United States and the European Union can be expected to speed up in the near future.

“From 2003 to 2014, the amount of coal-fired generating capacity retired in the US and the EU exceeded new capacity by 22 percent. With most new capacity plans halted and large amounts of capacity slated for retirement, reductions in coal capacity are expected to accelerate.”

State Solar Jobs Report Is Good News For The Economy And Environment

The Solar Foundation released its 2014 State Solar Jobs Census yesterday demonstrating that solar energy is still one of the fastest growing industries in the US, which is good news for our economy and the environment.

California ranks number one, with 54,700 jobs in solar installation, manufacturing, sales and distribution. Massachusetts came in second with 9,400 jobs. The booming solar industry — which now employs nearly 175,000 Americans nationwide — is not strictly a blue state phenomenon, however. Arizona came in a close third with 9,200 jobs.

The solar industry’s growth isn’t bound by geography, either.

“Big gains in employment are no longer limited to solar-friendly California and the sunny Southwest,” Rhone Resch, president and CEO of the Solar Energy Industries Association (SEIA), said in a statement. “Employment is also booming in East Coast states, including Massachusetts, New York, North Carolina and Maryland, while significantly growing in the southern states of Texas, Georgia and Florida.”

In other words, with solar making big gains in red states and blue states alike last year, the mainstreaming of renewable energy continues apace.

Reining In Global Warming Emissions Will Be Good For The Economy: Report

Not only will it lead to more costly and catastrophic events like wildfires, droughts, and floods, but delaying action on climate change will in and of itself consitute a missed opportunity to bolster the US economy, according to a new report.

Entitled “Seeing Is Believing: Creating A New Climate Economy In The United States,” the report notes that failing to rein in greenhouse gas emissions will result in a 20% reduction in per capita consumption worldwide over the long term, but stresses that addressing climate change will most certainly be good for the global economy.

Published by the World Resources Institute, the report looks at needed changes in five sectors of the US economy that, altogether, comprised 55% of greenhouse gas emissions in 2012: reducing the carbon intensity of electricity generation; improving efficiency in residential and commercial electricity consumption; building more fuel-efficient passenger vehicles; stopping methane leaks from natural gas systems; and lowering consumption of hydrofluorocarbons (HFCs), a potent greenhouse gas commonly used as a refrigerant.

By surveying peer-reviewed reports from academics, industry associations, think tanks, government labs, and others, the report concludes that: “The ability to reduce greenhouse gas emissions while benefitting the economy has already been demonstrated through numerous policies and programs implemented in the United States.”

Here are key findings from the report in each of those five areas:

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