U.S. greenhouse emissions dropped 9% year-over-year in 2020. Because of Covid-19 spread-mitigation steps taken through the year we are burning less fossil fuel than we did 30 years ago. That drop has put us back on track to meet targets of the Paris climate accord.
Due to overproduction by U.S. providers, gasoline prices have dropped to levels not seen in a decade and a half, but consumer demand for fuel has not picked up. In fact, just the opposite.
While the stock market has recovered and is again hitting record highs, traditional energy company stocks are all hitting 52 week lows, indicating a lack of confidence among the investor community. The largest coal company in the world, Peabody Energy’s stock value is down 85% YTD and has filed for bankruptcy.
Despite the rollback of U.S. auto efficiency standards, ALL car manufacturers that compete globally are driving production of hybrid and plug-in electric vehicles to replace their traditional models. Instead of ‘if’ the questions are, ‘Who can do it faster?’ and ‘Who will dominate the market?’
Also, other misunderstood but large consumers of energy and major contributors to global warming are the U.S. style factory farm and our convenience food industry. In 2020, for the second year in a row, global meat production has declined. Credit home cooked meals instead of fast food and nation-wide adoption of healthier, clean eating preferences.
The Trump administration put our country in retreat from the fight for a sustainable planet, but now have the opportunity to build on the progress we’ve made accidentally and despite their negligence. The Biden administration has already indicated support for green energy policies. After all, we have the need to replace our century-old energy infrastructure anyway. Why not build it back better? Why not make it green?
The question still remains though, will we return to pre-pandemic consumption patterns when we’re free of this horrible virus? I certainly hope not. Hopefully, we will re-join the rest of the world, and work shoulder to shoulder to assure a safe, prosperous and livable planet for our grandchildren and generations to come.
— Mark Toenjes, WCD Member