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Why This Matters: Transportation accounts for 23% of carbon emissions globally according to the IPCC. As long as gas is cheap, car companies will keep making gas guzzlers and the public will keep buying them. But the bill is going to come due in a decade or two — indeed it already is — and we are just paying the cost in disaster aid. Leadership matters. GM is not leading and neither is our government. They claim that these new longer and heavier trucks will actually have improved gas mileage above the current dismal 15 mpg in the city, but they won’t say how much. We are not buying it. We are wondering why the government bailed GM out a decade ago — GM continues to “cost” the government and the public dearly by expanding its line of carbon-emitting gas guzzlers.
Wind power has overtaken coal as a proportion of Texas’s power for the first time and promises to continue growing. In 2020, wind power made up almost a quarter of Texas’s total power, compared to just 18% from coal.
Why This Matters: Texas is the nation’s largest producer of both wind energy and fossil fuel energy.
The sale of oil and gas drilling rights in the Arctic National Wildlife Refuge (ANWR) was supposed to bring in upwards of $1 billion, but in the end, the first of the auctions mandated by Congress at the urging of President Trump brought in only $14M.
Why This Matters: Banks won’t underwrite Arctic drilling, so it is unclear those ANWR leases will be drilled ever.
When 2020 began, even with oil prices relatively strong, many industry analysts were predicting it was the beginning of the end for oil and gas. And then the pandemic hit and the Saudis and Russians decided to take advantage of the downturn. With supplies still high and demand declining, the industry may never be the same again.
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