Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - 30th Nov 21
Omicron Covid Wave 4 Impact on Financial Markets - 30th Nov 21
Can You Hear It? That’s the Crowd Booing Gold’s Downturn - 30th Nov 21
Economic and Market Impacts of Omicron Strain Covid 4th Wave - 30th Nov 21
Stock Market Historical Trends Suggest A Strengthening Bullish Trend In December - 30th Nov 21
Crypto Market Analysis: What Trading Will Look Like in 2022 for Novice and Veteran Traders? - 30th Nov 21
Best Stocks for Investing to Profit form the Metaverse and Get Rich - 29th Nov 21
Should You Invest In Real Estate In 2021? - 29th Nov 21
Silver Long-term Trend Analysis - 28th Nov 21
Silver Mining Stocks Fundamentals - 28th Nov 21
Crude Oil Didn’t Like Thanksgiving Turkey This Year - 28th Nov 21
Sheffield First Snow Winter 2021 - Snowballs and Snowmen Fun - 28th Nov 21
Stock Market Investing LESSON - Buying Value - 27th Nov 21
Corsair MP600 NVME M.2 SSD 66% Performance Loss After 6 Months of Use - Benchmark Tests - 27th Nov 21
Stock Maket Trading Lesson - How to REALLY Trade Markets - 26th Nov 21
SILVER Price Trend Analysis - 26th Nov 21
Federal Reserve Asks Americans to Eat Soy “Meat” for Thanksgiving - 26th Nov 21
Is the S&P 500 Topping or Just Consolidating? - 26th Nov 21
Is a Bigger Drop in Gold Price Just Around the Corner? - 26th Nov 21
Financial Stocks ETF Sector XLF Pullback Sets Up A New $43.60 Upside Target - 26th Nov 21
A Couple of Things to Think About Before Buying Shares - 25th Nov 21
UK Best Fixed Rate Tariff Deal is to NOT FIX Gas and Electric Energy Tariffs During Winter 2021-22 - 25th Nov 21
Stock Market Begins it's Year End Seasonal Santa Rally - 24th Nov 21
How Silver Can Conquer $50+ in 2022 - 24th Nov 21
Stock Market Betting on Hawkish Fed - 24th Nov 21
Stock Market Elliott Wave Trend Forecast - 24th Nov 21
Your once-a-year All-Access Financial Markets Analysis Pass - 24th Nov 21
Did Zillow’s $300 million flop prove me wrong? - 24th Nov 21
Now Malaysian Drivers Renew Their Kurnia Car Insurance Online With Fincrew.my - 24th Nov 21
Gold / Silver Ratio - 23rd Nov 21
Stock Market Sentiment Speaks: Can We Get To 5500SPX In 2022? But 4440SPX Comes First - 23rd Nov 21
A Month-to-month breakdown of how Much Money Individuals are Spending on Stocks - 23rd Nov 21
S&P 500: Rallying Tech Stocks vs. Plummeting Oil Stocks - 23rd Nov 21
Like the Latest Bond Flick, the US Dollar Has No Time to Die - 23rd Nov 21
Why BITCOIN NEW ALL TIME HIGH Changes EVERYTHING! - 22nd Nov 21
Cannabis ETF MJ Basing & Volatility Patterns - 22nd Nov 21
The Most Important Lesson Learned from this COVID Pandemic - 22nd Nov 21
Dow Stock Market Trend Analysis - 22nd Nov 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Renewable Energy-- But Not for America

Politics / Renewable Energy Oct 03, 2013 - 11:14 AM GMT

By: Walter_Brasch

Politics

Tokelau, an independent territory of New Zealand, is a small three island archipelago of about 1,400 residents about 300 miles north of American Samoa in the South Pacific. In October 2012, the Polynesian nation turned off the last of its diesel generators and became the first country to use solar power as its only energy source.


“We know that the longer the fossil fuel industry gets its way, the worse climate change will be, and the more sea-level rise will threaten our islands,” wrote Mikalele Maiava, one of its residents.

About 9,300 miles west of Tokelau is Saudi Arabia. Beneath its sands is an estimated 262.6 billion barrels of oil, the largest reserve in the word. But Saudi Arabia isn’t counting on oil as its sole form of energy. Within the next two decades, Saudi Arabia plans to have 41,000 megawatts of solar energy, enough to generate about one-third of the nation’s electricity. Nuclear, wind, and geo-thermal energy will provide an additional 21,000 megawatts, according to Khalid al-Suliman, vice-president of Renewable Energy at King Abdullah City for Atomic and Renewable Energy. The project is expected to cost about $109 billion, and save about 523,000 barrels of oil a day.

On Saudi Arabia’s northern border is the United Arab Emirates (UAE). Beneath its sands is the world’s seventh largest oil reserve. About 75 miles south of Abu Dhabi, its capital, is the world’s largest solar power plant. The 285,000 parabolic mirrors generate about 100 megawatts of energy, enough to meet the energy needs of 20,000 homes. The solar power plant reduces carbon dioxide emissions by about 175,000 tons a year. The UAE is planning to build additional solar plants.

India, a world leader in wind-generated power, is likely to develop what will become the world’s largest solar energy system. The first phase, being developed on a 23,000 acre site, is expected to be completed by 2016, and will provide about one gigawatt of power. The 30-year plan will allow India to provide one-eighth of its energy needs, through solar power.

Two-thirds of the world’s increase in solar energy in 2011 was in Europe; a two mile section of track between Paris and Amsterdam allows trains to run entirely on solar power; Germany’s solar energy plants produced as much power as 20 nuclear power plants.

Denmark, with the addition of 3.6 megawatts of offshore wind turbines early this year, has more than a gigawatt of wind energy, providing about one-fourth of all power to its citizens. Denmark plans to increase wind power capacity to provide about one-half of all domestic energy needs within the decade.

By the end of 2012, there were 1,662 off-shore wind turbines, generating enough electricity to power 10 million homes in 10 European countries, according to the European Wind Energy Association (EWEA). The EWEA believes that within a decade, off-shore wind turbines could provide electricity to about 39 million homes if countries continued to push for wind energy and rely less upon fossil fuel energy. With political and economic support, according to an EWEA analysis, “The energy produced from turbines in deep waters in the North Sea alone could meet the EU’s electricity consumption four times over.” It would also mean phasing out more than $4 billion in annual taxpayer subsidies to the oil and gas industry.

The U.S. Department of Energy suggests, “Renewable electricity generation from technologies that are commercially available today, in combination with a more flexible electric system, is more than adequate to supply 80% of total U.S. electricity generation in 2050.”

A significant increase of non-fossil fuel energy would produce a cleaner fuel source, reduce workplace accidents and significantly reduce the well-documented health and environmental effects of fossil fuel energy; it would also increase employment, one of the basic reasons why politicians say they like natural gas drilling.

There is some evidence that Americans are beginning to understand the need to abandon fossil fuel energy and prepare for a world of renewable energy.

Lancaster, Calif., a city of about 160,000 in Los Angeles County, was the first American city to require all new houses to produce a minimum of one kilowatt of solar energy, beginning Jan. 1, 2014.

Wind turbines already provide about one-fifth of all power in Iowa and South Dakota.

About three-fourths of Americans want to see more development of solar and wind energy, according to a Gallup poll conducted in March. So, who doesn’t want to see renewable energy replace fossil fuel dependence?

Conservatives and Republicans tend not to want to reduce fossil fuel energy and develop more renewable energy, according to Gallup. The Gallup poll reveals that 78 percent of Republicans want to see more of an emphasis upon fracking and natural gas as a primary energy source.

That’s probably because conservatives don’t like change. It scares them. They understand coal, oil, and gas. They don’t accept solar, wind, and geothermal energy.

But, most of all, most investors in fossil fuel energy—and that includes the frack-at-any-cost Pennsylvania legislature and its governor—have received campaign funds or are heavily invested in fossil fuel energy.

If the oil-rich countries are developing solar, wind, and other forms of renewable energy, maybe they know a lot more about the future. After all, there aren’t any more dinosaurs who are willing to sacrifice their lives so that lobbyists can influence politicians.

[Dr. Brasch’s current book is Fracking Pennsylvania, which looks at the impact of fracking upon public health, worker safety, the environment, and agriculture. The book--available at local bookstores and amazon. com--also looks at the financial collusion between politicians and Big Energy.]

By Walter M Brasch PhD

http://www.walterbrasch.com

Copyright 2013 Walter M Brasch
Walter Brasch is a university journalism professor, syndicated columnist, and author of 17 books. His current books are America's Unpatriotic Acts , The Federal Response to Hurricane Katrina , and Sex and the Single Beer Can: Probing the Media and American Culture . All are available through amazon.com, bn.com, or other bookstores. You may contact Dr. Brasch at walterbrasch@gmail.com

Walter Brasch Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in