Teenagers See Renewables as Fuel of Their Generation
By Andy Rowell
Donald Trump this week is launching an "energy week," pushing the argument that the U.S. will become a net exporter of oil and gas.
The president and his cronies are talking about a new era of "U.S. energy dominance," which could stretch for decades to come. However, no one believes the president anymore.
A new survey has found that over three-quarters of the world has little or no confidence in Trump's leadership or his signature policies.
And furthermore, America's kids don't believe the president and his fossil fuel hype. To today's young, the oil industry is yesterday's fuel. And coal belongs to their grandparents.
Another top level survey by global accountants Ernst & Young, into U.S. attitudes towards the oil and gas industries, stated, "The perception that the oil and gas industry is good for society decreases with each new generation."
The survey found that well over two thirds—71 percent—of teen respondents believe renewable fuels such as solar and wind are the fuels of their generation, while 56 percent said oil and gas are the fuels of their parents' generation. Interestingly, over half of teens also see coal as the fuel of their grandparent's generation.
For First Time Ever, U.S. Gets 10% of Electricity From Wind and Solar https://t.co/DxYMofR4jl @Sustainable2050 @RenewableUK— EcoWatch (@EcoWatch)1497652804.0
So the oil industry is in deep trouble. Faced with rising global temperatures, a resurgent renewables industry, decreasing oil demand and fairly stagnant prices, it also faces an image problem amongst the young.
According to Ernst and Young, "Overall, the survey showed young people increasingly feel shunted by the industry and their environmental values, especially, are not matched by oil and gas companies."
Just over half of teen respondents "said oil and gas decision-makers are mostly interested in what's best for people their age," with just under half believing "the industry isn't interested in what is best for their generation."
But why should the oil industry's image problem and mistrust from today's teenagers be a problem? Because, argued Ernst and Young, "Public perception of the industry will become ever more critical."
The report outlined how "in this era of technological disruption, when many industries are fighting to stay relevant, oil and gas may be facing its 'last cycle'—a time when energy abundance, driven by technology, creates a permanent oversupply that not only keeps prices low but also allows consumers to make new choices about their energy usage."
It added, "As younger consumers grow in both number and political influence, their viewpoints will become especially vital to the continued relevance of the industry."
Interestingly of all respondents, not just teenagers, some 59 percent had a positive perception of natural gas.
This positive perception differs widely from the views of scientists, who argue that even gas, the so-called cleaner bridge fuel, has no future.
A report published earlier this month by Carbon Action Tracker found that "Natural gas is often perceived as a clean source of energy that complements variable renewable technologies."
However, gas has no future: "The Paris agreement long-term temperature goal requires a complete decarbonization of the power sector by 2050. This leaves little space for any kind of fossil fuel, including natural gas." If companies continue to invest in gas, they risk investing in stranded assets.
Ernst and Young argued that, in these changing times, for the oil industry to survive there is a "need to change public perception to secure the future of the industry."
This conclusion is wrong. The industry doesn't need to change perceptions. It needs to change its business model and join the renewable revolution. Only then will it have a guaranteed future. No matter how many "Energy Weeks" this misguided president launches.
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Wisdom the mōlī, or Laysan albatross, is the oldest wild bird known to science at the age of at least 70. She is also, as of February 1, a new mother.
<div id="dadb2" class="rm-shortcode" data-rm-shortcode-id="aa2ad8cb566c9b4b6d2df2693669f6f9"><blockquote class="twitter-tweet twitter-custom-tweet" data-twitter-tweet-id="1357796504740761602" data-partner="rebelmouse"><div style="margin:1em 0">🚨Cute baby alert! Wisdom's chick has hatched!!! 🐣😍 Wisdom, a mōlī (Laysan albatross) and world’s oldest known, ban… https://t.co/Nco050ztBA</div> — USFWS Pacific Region (@USFWS Pacific Region)<a href="https://twitter.com/USFWSPacific/statuses/1357796504740761602">1612558888.0</a></blockquote></div>
By Hui Hu
Winter is supposed to be the best season for wind power – the winds are stronger, and since air density increases as the temperature drops, more force is pushing on the blades. But winter also comes with a problem: freezing weather.
Comparing rime ice and glaze ice shows how each changes the texture of the blade. Gao, Liu and Hu, 2021, CC BY-ND
Ice buildup changes air flow around the turbine blade, which can slow it down. The top photos show ice forming after 10 minutes at different temperatures in the Wind Research Tunnel. The lower measurements show airflow separation as ice accumulates. Icing Research Tunnel of Iowa State University, CC BY-ND
While traditional investment in the ocean technology sector has been tentative, growth in Israeli maritime innovations has been exponential in the last few years, and environmental concern has come to the forefront.
theDOCK aims to innovate the Israeli maritime sector. Pexels<p>The UN hopes that new investments in ocean science and technology will help turn the tide for the oceans. As such, this year kicked off the <a href="https://www.oceandecade.org/" target="_blank" rel="noopener noreferrer">United Nations Decade of Ocean Science for Sustainable Development (2021-2030)</a> to galvanize massive support for the blue economy.</p><p>According to the World Bank, the blue economy is the "sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem," <a href="https://www.sciencedirect.com/science/article/pii/S0160412019338255#b0245" target="_blank" rel="noopener noreferrer">Science Direct</a> reported. It represents this new sector for investments and innovations that work in tandem with the oceans rather than in exploitation of them.</p><p>As recently as Aug. 2020, <a href="https://www.reutersevents.com/sustainability/esg-investors-slow-make-waves-25tn-ocean-economy" target="_blank" rel="noopener noreferrer">Reuters</a> noted that ESG Investors, those looking to invest in opportunities that have a positive impact in environmental, social and governance (ESG) issues, have been interested in "blue finance" but slow to invest.</p><p>"It is a hugely under-invested economic opportunity that is crucial to the way we have to address living on one planet," Simon Dent, director of blue investments at Mirova Natural Capital, told Reuters.</p><p>Even with slow investment, the blue economy is still expected to expand at twice the rate of the mainstream economy by 2030, Reuters reported. It already contributes $2.5tn a year in economic output, the report noted.</p><p>Current, upward <a href="https://www.ecowatch.com/-innovation-blue-economy-2646147405.html" target="_self">shifts in blue economy investments are being driven by innovation</a>, a trend the UN hopes will continue globally for the benefit of all oceans and people.</p><p>In Israel, this push has successfully translated into investment in and innovation of global ports, shipping, logistics and offshore sectors. The "Startup Nation," as Israel is often called, has seen its maritime tech ecosystem grow "significantly" in recent years and expects that growth to "accelerate dramatically," <a href="https://itrade.gov.il/belgium-english/how-israel-is-becoming-a-port-of-call-for-maritime-innovation/" target="_blank" rel="noopener noreferrer">iTrade</a> reported.</p><p>Driving this wave of momentum has been rising Israeli venture capital hub <a href="https://www.thedockinnovation.com/" target="_blank" rel="noopener noreferrer">theDOCK</a>. Founded by Israeli Navy veterans in 2017, theDOCK works with early-stage companies in the maritime space to bring their solutions to market. The hub's pioneering efforts ignited Israel's maritime technology sector, and now, with their new fund, theDOCK is motivating these high-tech solutions to also address ESG criteria.</p><p>"While ESG has always been on theDOCK's agenda, this theme has become even more of a priority," Nir Gartzman, theDOCK's managing partner, told EcoWatch. "80 percent of the startups in our portfolio (for theDOCK's Navigator II fund) will have a primary or secondary contribution to environmental, social and governance (ESG) criteria."</p><p>In a company presentation, theDOCK called contribution to the ESG agenda a "hot discussion topic" for traditional players in the space and their boards, many of whom are looking to adopt new technologies with a positive impact on the planet. The focus is on reducing carbon emissions and protecting the environment, the presentation outlines. As such, theDOCK also explicitly screens candidate investments by ESG criteria as well.</p><p>Within the maritime space, environmental innovations could include measures like increased fuel and energy efficiency, better monitoring of potential pollution sources, improved waste and air emissions management and processing of marine debris/trash into reusable materials, theDOCK's presentation noted.</p>
theDOCK team includes (left to right) Michal Hendel-Sufa, Head of Alliances, Noa Schuman, CMO, Nir Gartzman, Co-Founder & Managing Partner, and Hannan Carmeli, Co-Founder & Managing Partner. Dudu Koren<p>theDOCK's own portfolio includes companies like Orca AI, which uses an intelligent collision avoidance system to reduce the probability of oil or fuel spills, AiDock, which eliminates the use of paper by automating the customs clearance process, and DockTech, which uses depth "crowdsourcing" data to map riverbeds in real-time and optimize cargo loading, thereby reducing trips and fuel usage while also avoiding groundings.</p><p>"Oceans are a big opportunity primarily because they are just that – big!" theDOCK's Chief Marketing Officer Noa Schuman summarized. "As such, the magnitude of their criticality to the global ecosystem, the magnitude of pollution risk and the steps needed to overcome those challenges – are all huge."</p><p>There is hope that this wave of interest and investment in environmentally-positive maritime technologies will accelerate the blue economy and ESG investing even further, in Israel and beyond.</p>
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