On November 6, 2015, Obama rejected the proposed Keystone XL project. Why did he do this, and what does this mean for the U.S.? The Keystone XL had several major concerning issues associated with it: first, the tar sands crude oil are significantly dirtier in greenhouse gas emissions than conventional crude oil; second, the oil would largely be exported and sold abroad; third, the risks to the American people as a result of the pipeline are very real.
Justin Trudeau has indicated that environmental protection would be more of a priority under his leadership. On the other hand, Trudeau is expressing support for Chinese investment in the Canadian oilpatch, and has spoken in favor of the Canada-to-Texas pipeline.
Just under a year after deciding to not do so, the University of California has quietly sold off their investments associated with coal and oil sands, as of September 9th. The UC’s divestment from these first two forms of fossil fuels is incredibly important – but we must realize how much longer the road to climate justice really is.
In the near future Brazil will remain South America’s economic engine as can be seen by the country’s current economic surges. Many of Brazil’s recent economic successes have been closely related to energy developments, as well as the country’s unique energy infrastructure.
With its high demand for energy, China has become the largest importer of oil as of the end of last year according to the US Energy Information Administration.
Global installations of renewable energy technologies continue to increase. A recent study of the International Energy Agency (IEA) indicates that despite the continued growth of renewables, oil and gas will continue to dominate the energy future. The IEA published six energy trends that will shape the future of energy industry, all of which involved fossil fuels.
While not a word was mentioned about climate change in any of the debates, the presidential candidates also missed an opportunity to set the public straight on energy policy and investments.
It’s time for a Gen 2 approach to clean energy innovation, investment, and policy, according to Nancy Pfund, Founder & Managing Director of San Francisco-based venture capital firm DBL Investors.