Imagine if oil pipelines were not valuable negotiating chips anymore, if autocrats like Putin could not jerk countries around anymore by controlling the energy those countries need to fuel their economies. At COP26, the world came together to declare a massive shift to a clean energy economy.
Senate Energy Committee 2021Remember how much cleaner the air was in 2020 when covid kept people off the roads and grounded airplanes? “The Covid-19 pandemic has created the biggest shock to the global energy system since at least World War II…Renewables are the only energy source that will grow in 2020.” Those are the words of then-head of the EIA David Turk, now Deputy Secretary of Energy, when he testified before Congress last year.
If these pipelines like Nord Stream 2 were a thing of the past, or at least providing a much smaller fraction of global energy needs, autocrats that control them would have less geopolitical power, and the loss of them would have much less of an impact on communities.to the clean energy future, driven by market forces. Boosted by funding from Obama’s Recovery Act, investors have been sinking record-breaking funds into the sector ever since.
President Biden was elected in part with support from the environmental and clean energy communities, who embraced his commitment to addressing climate change and creating a clean energy economy, including good paying jobs. That commitment is reflected in the billions allocated to clean energy investments in both the bipartisan infrastructure bill passed a few months ago and Biden’s “Build Back Better” legislation that is languishing in Congress.
What this week’s Russian invasion and dominance of the geopolitical dynamic is a stark reminder of is that the shift to a clean energy, net zero economy, would also disempower the oligarchs, autocrats and dictators whose oversized influence is in part due to the global economy’s oversized dominance by Big Oil.
Russia’s provocations this week emphasize the need to expedite this transition as quickly as possible, while also taking care to provide transitions for communities that have been dependent upon fossil fuel, and the jobs and revenue it provides.
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