One thought on “Trump approves of a Little Dickens

  1. X-Mas says:

    “There’s a Dangerous Bubble in the Fossil-Fuel Economy, and the Trump Administration Is Making It Worse” (New Yorker Magazine Oct 19th issue) https://www.newyorker.com/tech/elements/theres-a-dangerous-bubble-in-the-fossil-fuel-economy-and-the-trump-administration-is-making-it-worse “According to Stephen Heintz, the president of the Rockefeller Brothers Fund, which divested from coal and oil sands in 2014, actions like Pruitt’s C.P.P. repeal and Perry’s coal-industry bailout maintain the false perception that high-carbon industries will always be profitable. “They create inertia, and they create some uncertainty in markets, just at a time when we need a government to be creating confidence, continuity, and urgency,” Heintz said. The longer this fallacy persists, and the longer state governments delay the transition to renewables, the more sudden the carbon bubble’s burst could be. By prolonging the inevitable death of the coal industry, the Trump Administration virtually insures an even more painful reckoning to come. In the worst-case scenario, [financier and environmentalist Mark Campanale] explained, the planet makes the decision for us. “Climate chaos happens,” he said. “Extreme weather events, the destabilization of the Arctic. Governments wake up one morning, and it’s all gotten so bad that, overnight, the stuff is no longer burned. It’s a huge catastrophe for investors, and everybody.”
    See also Carbon Tracker 10/13/17: https://www.carbontracker.org/reports/no-country-for-coal-gen-below-2c-and-regulatory-risk-for-us-coal-power-owners/ “Around 30 GW of coal capacity has been retired over the last three years, with coal generation declining by 13% over the same period. The economics of US coal power could not be starker: new coal capacity is not remotely competitive, while in the next few years it will be the exception rather than the rule for the operating cost of existing coal to be lower than the levelized cost of new gas and renewables.”

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