Trump Wins, Renewable Energy Investments Lose and Dirty Energy Stocks Surge
Political upheaval has major influence over the stock markets, and with climate-change-denying Donald Trump's "disaster" of an election win, renewable energy investment is looking bleak at the moment as dirty energy surges.
Really?! What is happening?! Leo needs to have a word #TrumpDigsCoal #ClimateChange #BeforeTheFlood #USElection2016 https://t.co/tbqAbpIRn3— Stacey Goater (@Stacey Goater)1478687825.0
The world's top coal trader Glencore Plc rose more than 5 percent today while the world's biggest wind-turbine maker Vestas Wind Systems A/S fell about 13 percent, according to Bloomberg. Solar companies First Solar, SunPower and SolarCity were down a respective 6 percent, 17 percent and 6 percent this morning. Shares in European renewable energy equipment makers and utilities with significant investments in the U.S. have fallen as much as 10 percent, Reuters reported.
As Bloomberg warned in its report, "the swing foretells a story of fossil fuels making a comeback, while the fight against climate change—and investment in wind and solar power—languishes."
Our president-elect—who literally said "the wind kills all your birds" and solar is "not working so good"—has made no bones about his support of dirty energy, from his ties to the controversial Dakota Access Pipeline to his pledge to bring back the dirtiest fuel on the planet, coal.
The U.S. wind power industry is "bracing itself for an uncertain future following the election of Donald Trump to the presidency," staff from Wind Power Monthly wrote in a column today. The publication quoted Trump's plans to "unleash America's $50 trillion in untapped shale, oil, and natural gas reserves, plus hundreds of years in clean coal reserves."
'Trump's Election Is a Disaster' by @StefanieSpear of @EcoWatch: https://t.co/jjnWs7tWQX #GameOverForClimate— Michael E. Mann (@Michael E. Mann)1478701114.0
Meanwhile, crude oil prices have wavered between gains and losses as investors are uncertain over the president-to-be's energy plans. Experts explained that while Trump would likely scale back regulations and encourage drilling, that plan would effectively keep oil prices low due to a global oil glut.
"It probably ends up not being all that supportive for prices because supply will be ample," Bill O'Grady, chief market strategist at Confluence Investment Management, told The Wall Street Journal. "But the oil companies themselves will be thrilled."
With the legislative and (likely) the judicial branch as trump cards, the 45th President of the United States stands to sully much of President Obama's environmental legacy, especially Obama's landmark Clean Power Plan to cut greenhouse gas emissions from power plants.
"Under the [Clean Power Plan] and current renewables incentives, most U.S. utilities are opting to replace retiring coal plants with wind and solar facilities," Utility Dive's Gavin Bade wrote. "But without those programs, the investment situation may start to look different for many utilities. Whereas Hillary Clinton was likely to build upon existing regulations on power sector pollution, the promise of less stringent rules could increase the appeal of fossil fuel assets."
Here's What #Trump Would Do in His First 100 Days https://t.co/dPfOhlj3Gf @ClimateNexus @billmckibben @MichaelEMann @kxlblockade @janekleeb— EcoWatch (@EcoWatch)1477315272.0
Alexandre Andlauer, head of oil at research firm Alphavalue in Paris, told Bloomberg that "the oil and gas industry is a clear winner with the new president. U.S. Oil companies have a better future today than yesterday."
On the federal level, clean energy development and policies are unlikely. Trump has spoken of dismantling the U.S. Environmental Protection Agency (EPA) and renegotiating the Paris agreement. He will will likely stack his cabinet with pro-business and pro-fossil fuels appointees. According to POLITICO, potential names in the hat for Interior Secretary includes Lucas Oil co-founder Forrest Lucas; venture capitalist Robert Grady, a George H. W. Bush White House official with ties to New Jersey Gov. Chris Christie; former Alaska Gov. Sarah Palin; former Arizona Gov. Jan Brewer; Oklahoma Gov. Mary Fallin; Wyoming Rep. Cynthia Lummis (R); and Oklahoma oilman Harold Hamm. Both Hamm and Grady are also considered potential picks for Energy Secretary. On Trump's list for EPA administer is Competitive Enterprise Institute's Myron Ebell, a well-known climate skeptic who is leading Trump's EPA transition team.
Federal tax incentives for solar and wind might also be at risk. Christian Roseland of PV Magazine warned that Trump and his Republican government can decide to "pre-emptively end the 30 percent solar Investment Tax Credit (ITC), which was recently extended to 2020."
However, there is one silver lining. Roseland noted that "if there is a saving grace, it is that other than the ITC the most important policies for solar are at the state and not the national level. Trump's presidency will not undo the renewable portfolio standards in California or New York, or the implementation of PURPA in North Carolina and Utah."
States, a clean energy future might be up to you.
EcoWatch Daily Newsletter
By Alexandra Rowles
Oregano is a fragrant herb that's best known as an ingredient in Italian food.
However, it can also be concentrated into an essential oil that's loaded with antioxidants and powerful compounds that have proven health benefits.
- Essential Oils: 7 Common Questions Answered - EcoWatch ›
- 9 Ways to Boost Your Immune System - EcoWatch ›
- 15 Impressive Herbs with Antiviral Activity - EcoWatch ›
- Brazil Using Pandemic as Smokescreen for New Attacks on the ... ›
- In 'Totalitarian' Move, Brazil's Bolsonaro Removes Death and Case ... ›
- Brazil Passes 50,000 Coronavirus Deaths as Global Cases Top 9 ... ›
By Emily Grubert
Natural gas is a versatile fossil fuel that accounts for about a third of U.S. energy use. Although it produces fewer greenhouse gas emissions and other pollutants than coal or oil, natural gas is a major contributor to climate change, an urgent global problem. Reducing emissions from the natural gas system is especially challenging because natural gas is used roughly equally for electricity, heating, and industrial applications.
<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="6bd9fda1316965a9ba24dd60fd9cc34d"><iframe lazy-loadable="true" src="https://www.youtube.com/embed/3KaMnkmf0tc?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span>
What RNG Is and Why it Matters<p>Most equipment that uses energy can only use a single kind of fuel, but the fuel might come from different resources. For example, you can't charge your computer with gasoline, but it can run on electricity generated from coal, natural gas or solar power.</p><p>Natural gas is almost pure methane, <a href="https://www.eia.gov/energyexplained/natural-gas/" target="_blank">currently sourced</a> from raw, fossil natural gas produced from <a href="https://www.eia.gov/energyexplained/natural-gas/where-our-natural-gas-comes-from.php" target="_blank">deposits deep underground</a>. But methane could come from renewable resources, too.</p><p><span></span>Two main methane sources could be used to make RNG. First is <a href="https://www.epa.gov/ghgemissions/inventory-us-greenhouse-gas-emissions-and-sinks" target="_blank">biogenic methane</a>, produced by bacteria that digest organic materials in manure, landfills and wastewater. Wastewater treatment plants, landfills and dairy farms have captured and used biogenic methane as an energy resource for <a href="http://emilygrubert.org/wp-content/uploads/2019/02/eia_860_2017_map.html" target="_blank">decades</a>, in a form usually called <a href="https://www.eia.gov/energyexplained/biomass/landfill-gas-and-biogas.php" target="_blank">biogas</a>.</p><p>Some biogenic methane is generated naturally when organic materials break down without oxygen. Burning it for energy can be beneficial for the climate if doing so prevents methane from escaping to the atmosphere.</p>
Renewable Isn’t Always Sustainable<p>If RNG could be a renewable replacement for fossil natural gas, why not move ahead? Consumers have shown that they are <a href="https://www.nrel.gov/analysis/green-power.html" target="_blank">willing to buy renewable electricity</a>, so we might expect similar enthusiasm for RNG.</p><p>The key issue is that methane isn't just a fuel – it's also a <a href="https://www.eia.gov/environment/emissions/ghg_report/ghg_overview.php" target="_blank">potent greenhouse gas</a> that contributes to climate change. Any methane that is manufactured intentionally, whether from biogenic or other sources, will contribute to climate change if it enters the atmosphere.</p><p>And <a href="http://doi.org/10.1126/science.aar7204" target="_blank">releases</a> <a href="https://doi.org/10.1016/j.wasman.2019.07.029" target="_blank">will happen</a>, from newly built production systems and <a href="https://theconversation.com/why-methane-emissions-matter-to-climate-change-5-questions-answered-122684" target="_blank">existing, leaky transportation and user infrastructure</a>. For example, the moment you smell gas before the pilot light on a stove lights the ring? That's methane leakage, and it contributes to climate change.</p><p>To be clear, RNG is almost certainly better for the climate than fossil natural gas because byproducts of burning RNG won't contribute to climate change. But doing somewhat better than existing systems is no longer enough to respond to the <a href="https://doi.org/10.1038/nclimate2923" target="_blank">urgency</a> of climate change. The world's <a href="https://www.ipcc.ch/sr15/chapter/spm/" target="_blank">primary international body on climate change</a> suggests we need to decarbonize by 2030 to mitigate the worst effects of climate change.</p>
Scant Climate Benefits<p><a href="https://iopscience.iop.org/article/10.1088/1748-9326/ab9335/meta" target="_blank">My recent research</a> suggests that for a system large enough to displace a lot of fossil natural gas, RNG is probably not as good for the climate as <a href="https://investor.southerncompany.com/information-for-investors/latest-news/latest-news-releases/press-release-details/2020/Southern-Company-Gas-grows-leadership-team-to-focus-on-climate-action-innovation-and-renewable-natural-gas-strategy/default.aspx" target="_blank">is publicly claimed</a>. Although RNG has lower climate impact than its fossil counterpart, likely high demand and methane leakage mean that it probably will contribute to climate change. In contrast, renewable sources such as wind and solar energy do not <a href="https://www.eia.gov/environment/emissions/carbon/" target="_blank">emit climate pollution directly</a>.</p><p>What's more, creating a large RNG system would require building mostly new production infrastructure, since RNG comes from different sources than fossil natural gas. Such investments are both long-term commitments and opportunity costs. They would devote money, political will and infrastructure investments to RNG instead of alternatives that could achieve a zero greenhouse gas emission goal.</p><p>When climate change first <a href="https://www.nytimes.com/1988/06/24/us/global-warming-has-begun-expert-tells-senate.html" target="_blank">broke into the political conversation</a> in the late 1980s, investing in long-lived systems with low but non-zero greenhouse gas emissions was still compatible with aggressive climate goals. Now, zero greenhouse gas emissions is the target, and my research suggests that large deployments of RNG likely won't meet that goal.</p>
- Solar Employs More Workers Than Coal, Oil and Natural Gas ... ›
- The Truth About Natural Gas: A 'Green' Bridge to Hell - EcoWatch ›
- Why Natural Gas Is a Bridge Fuel to Nowhere - EcoWatch ›
The U.S. Environmental Protection Agency (EPA) recently issued a list of 431 products that are effective at killing viruses when they are on surfaces. Now, a good year for Lysol manufacturer Reckitt Benckiser just got better when the EPA said that two Lysol products are among the products that can kill the novel coronavirus that causes COVID-19.
- Here's How to Clean Your Groceries During the COVID-19 Outbreak ... ›
- EPA Warns Against Fake Coronavirus Cleaners - EcoWatch ›
- What to Do if There's a Disinfectant Shortage in Your Area - EcoWatch ›
For all its posturing on climate change, the Democratic Party has long been weak on the actual policies we need to save us from extinction. President Barack Obama promised his presidency would mark "the moment when the rise of the oceans began to slow," and then embraced natural gas, a major driver of global temperature rise, as a "bridge fuel." Climate legislation passed in the House in 2009 would have allowed industries to buy credits to pollute, a practice known to concentrate toxic air in black and brown neighborhoods while doing little to cut emissions.
- Trump Neglects Climate Change in State of the Union While ... ›
- House Democrats Hold First Climate Change Hearings in More ... ›
- If the Democratic Party Is Serious About Climate Change, They Must ... ›
Bayer's $10 billion settlement to put an end to roughly 125,000 lawsuits against its popular weed killer Roundup, which contains glyphosate, hit a snag this week when a federal judge in San Francisco expressed skepticism over what rights future plaintiffs would have, as the San Francisco Chronicle reported.
- Judge Blocks California From Putting Cancer Warning on Roundup ... ›
- Bayer Settles Roundup Cancer Suits for Over $10 Billion - EcoWatch ›
By Charli Shield
When an elephant dies in the wild, it's not uncommon to later find its bones scattered throughout the surrounding landscape.
Elephant Burial Grounds<p>Highly social creatures that form deep familial bonds, elephants have long been observed gathering at the site where a peer or family member has died — often spending hours, even days, quietly investigating the bodies or the bones of other dead elephants.</p><p>Although the popular idea that dying elephants are instinctively drawn to special communal graves — so-called "elephant graveyards" — is a myth, their tendency to go out of their way to visit the bones and tusks of the deceased isn't unlike human rituals at graveyards, says animal psychologist Karen McComb.</p><p>"They spend a lot of time touching and smelling skulls and ivory, placing the soles of their feet gently on top of them, and also lifting them up with their trunks," McComb, who's been studying African elephants for 25 years in Kenya's Amboseli National Park, told DW.</p><p>The most striking part of watching an elephant experience loss, Poole recalls, is the quietude. She still remembers one of the first elephant deaths she witnessed; a mother who birthed a stillborn calf. That elephant stayed with its baby for two days, trying to lift it and defending it from vultures and hyenas.</p><p>"I was so struck by the expression on her face and her body. She looked so dejected. It was really like, 'Oh God, these animals grieve…'. It was just so different," Poole told DW. </p>
Witnessing Emotions in Animals<p>Not all scientists are comfortable concluding that elephants grieve. Among the more than 30 reports of elephant reactions to death that Wittemyer co-reviewed in <a href="https://link.springer.com/article/10.1007/s10329-019-00766-5" target="_blank">a study published in November 2019</a> were accounts of "enormous variation and nuance" he says. "It can be incredibly involved and intricate for extended periods or can be relatively cursory checks."</p><p>In Wittemyer's own experience, it can be difficult not to attribute some kind of emotional experience to the more involved interactions between elephants and their dead.</p><p>He shares the story of an "extraordinary event" involving the death of a 55 year-old matriarch in Kenya in a protected area that happened to be near his place of work. She was visited by multiple unrelated families while she was dying, including another matriarch that exerted such enormous effort attempting to lift her to her feet that she broke her tusk, which Wittemyer says, is "like breaking a tooth." </p><p><span></span>"It was a remarkable example of this heightened emotional state, it was very clearly a very stressful interaction," he says.</p>
A Different Sensory World<p>One factor that limits our ability to fully grasp the way elephants process and respond to loss is our markedly different sensory experiences of the world.</p><p>An elephant's world is fundamentally olfactory — based on smell. Ours is visual. Previous <a href="https://pubmed.ncbi.nlm.nih.gov/25053675/" target="_blank">research</a> has shown elephants possess the most scent receptors of any mammal, and can <a href="https://pubmed.ncbi.nlm.nih.gov/17949977/" target="_blank">use smell</a> to discern the difference between different human tribes from the same local area.</p><p>That could explain why elephants exhibit such interest in sniffing the bones and tusks of others, as a <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1617198/" target="_blank">2005 study</a> from McCombs highlighted. When presented with the skulls and ivory of long-dead elephants and those from other large herbivores, including rhino and buffalo, McCombs and her team found elephants approached and were specifically attracted to the remains of their own species. </p><p>Without access to the smells an elephant picks up on, Wittemyer says "an enormous amount of stuff" could be missed by humans when studying these behaviors.</p>
- Elephant Poaching Is on the Rise in Botswana, Study Confirms ... ›
- In 'Conservation Disaster,' Hundreds of Botswana's Elephants Are ... ›
- Botswana Auctions Off First Licenses to Kill Elephants Since Ending ... ›