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The International Energy Agency stated in its annual World Energy Investment report released yesterday that the unparalleled decline in worldwide energy investment had been “staggering in both its scale and swiftness.” Investment in global energy is expected fall by $400bn this year, the biggest drop in the industry’s history
As CNBC reported, the IEA “warned the economic impact of the public health crisis could have “serious” implications for energy security and clean energy transitions.”
“The crisis has brought lower emissions but for all the wrong reasons,” Fatih Birol, executive director at the IEA, said in a statement.
Why This Matters: At the beginning of 2020 global energy investment was on track for a 2% increase, its biggest growth in six years. Now the outlook is grim and means a loss of clean energy jobs as well as a slowdown of the transition to a low-carbon economy. Though investment in renewable energy is faring better than fossil fuels, it’s not a sign that the industry will come out unscathed. However, federal stimulus dollars to modernize our grid and invest in renewable could go a long way in lessening the blow.
Go Deeper: As the Guardian explained, “investment in renewable energy has proved to be more resilient than fossil fuels. However, the IEA said that in the first quarter the number of wind and solar projects given the financial go-ahead fell to a three-year low. Spending on rooftop solar panels by homes and businesses has been strongly affected, it said.”
Send a Signal: Color-coded bracelets to express your social distancing preferences? They’re a thing!
Out of the Woods?: Probably not. Dr. Ashish Jha, director of the Harvard Global Health Institute and professor of health policy at the Harvard T.H. Chan School of Public Health told NPR that “we’re early in this outbreak. We’re not anywhere near done.”
The Trump Administration announced last week that it has rejected the settled scientific evidence linking the pesticide chlorpyrifos to serious health problems, particularly in children. This pesticide, which is widely used on soybeans, almonds, grapes, and other crops, has been proven to harm children’s neurological development.
Why this matters: Under the false flag of transparency, EPA is putting children at greater risk.
by Amy Lupica, ODP Contributing Writer On Tuesday, the California Fish and Game Commission voted to accept a petition that will grant the Joshua tree, the famous twisty-limbed yucca plant native to the Mojave desert, endangered species status for one year while the state conducts a study. The plant is now considered a “candidate species” […]
by Razi Beresin-Scher and Miro Korenha According to recent reporting from The Hill, atmospheric smoke is exacerbating the toll of the COVID-19 virus in Oregon and California. Smoke inhalation weakens the immune systems of those suffering from asthma and other underlying respiratory conditions, compromising their ability to recover from the virus. Researchers at the Harvard […]
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