Wednesday, September 21, 2016

Energy Investment

This little pie chart shows where investment is going in energy sources through 2015, according to the IEA, International Energy Association.

Despite oil and gas still taking up half the pie, an accompanying article says a shift toward environmentally friendly energy sources is  actually occurring fast enough to keep global temperature rise below the 2 degree goal set by the Paris Climate Accords. That's good news for life on earth, bad news for some environmental groups' fundraising.

The article notes the shifts in investment from oil and gas to Renewables are due to a large degree because of government policies, whereas in places like China, where growth is the only goal, nuclear and coal are still getting big investments.

I saw a link to this chart in another article discussing the long term economic consequences of the decline in oil and gas prices and investment in those commodities, of which New Mexico lawmakers are well aware as they have a large budget deficit because of it. But the article says that although consumer spending ticks up when oil and gas prices drop, it's offset by the layoffs in those industries, so the economy doesn't really benefit overall.

Now, if we could take those trillions of cash American corporations have stashed offshore to avoid paying taxes on it and use it to lower the price of solar electricity, wind and thermal power, the economy would take off. Instead, our lovely Democratic congress members and Hillary Clinton want to declare a "tax holiday" for those corporations and are working on a deal to let them bring that money back to the USA and pay almost no taxes on it, and then lower the tax rate on them permanently. Democrats are doing this. This is happening under the radar, out of the light of day, down in the sewers where the cockroaches stay.

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