{"id":35481,"date":"2018-06-25T06:42:39","date_gmt":"2018-06-25T11:42:39","guid":{"rendered":"http:\/\/olduvai.ca\/?p=35481"},"modified":"2018-06-25T06:42:39","modified_gmt":"2018-06-25T11:42:39","slug":"energy-efficiency-and-technology-squeeze-the-carbon-bubble","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=35481","title":{"rendered":"Energy Efficiency and Technology Squeeze the Carbon Bubble"},"content":{"rendered":"

Energy Efficiency and Technology Squeeze the Carbon Bubble<\/a><\/h3>\n
\n
\n
\n
\"Homeowner<\/div>\n<\/div>\n<\/div>\n
\n
\n
\n

The carbon bubble will burst with or without government action, according to a new study<\/a>. That will hurt people who invest in fossil\u00a0fuels.<\/p>\n

As energy efficiency and renewable energy technologies improve and prices drop, global demand for fossil fuels will decline, \u201cstranding\u201d new fossil fuel ventures \u2014 likely before 2035, according to the study in Nature Climate Change, \u201cMacroeconomic impact of stranded fossil fuel assets<\/a>.\u201d<\/p>\n

Researchers from Cambridge University and elsewhere found technological advances will strand fossil fuel assets regardless of \u201cwhether or not new climate policies are adopted,\u201d but that \u201cthe loss would be amplified if new climate policies to reach the 2\u00b0C target of the Paris Agreement are adopted and\/or if low-cost producers (some OPEC<\/span> countries) maintain their level of production (\u2018sell out\u2019) despite declining\u00a0demand.\u201d<\/p>\n

That could \u201camount to a discounted global wealth loss of US<\/span>$1\u20134 trillion,\u201d and Russia, the U.S., and Canada could see their fossil fuel industries nearly shut down, the report\u00a0says.<\/p>\n

The best way to limit these negative impacts is to divest from fossil fuels and speed up the transition to a diversified, energy-efficient, clean-energy economy. Investing tax dollars to expand fossil fuel development and infrastructure, including pipelines, is irresponsible and incompatible with Canada\u2019s Paris Agreement commitments, putting everyone at economic risk, and leaving us with polluted air, water and land, and increasing climate impacts and healthcare\u00a0bills.<\/p>\n

Lead author Jean-Fran\u00e7ois Mercure told the Guardian<\/a>, \u201cWith more policies from governments, this would happen faster. But without strong [climate] policies, it is already happening. To some degree at least you can\u2019t stop it. But if people stop putting funds now in fossil fuels, they may at least limit their\u00a0losses.\u201d<\/p>\n

Co-author Jorge Vi\u00f1uales said, \u201cIndividual nations cannot avoid the situation by ignoring the Paris agreement or burying their heads in coal and tar\u00a0sands.\u201d<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"

Energy Efficiency and Technology Squeeze the Carbon Bubble The carbon bubble will burst with or without government action, according to a new study. That will hurt people who invest in fossil\u00a0fuels. As energy efficiency and renewable energy technologies improve and prices drop, global demand for fossil fuels will decline, \u201cstranding\u201d new fossil fuel ventures \u2014 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[8971,4825,1080,5317,1290,328,379,9295,674,786],"class_list":["post-35481","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-cambridge-university","tag-carbon-bubble","tag-david-suzuki","tag-desmog-blog","tag-energy-efficiency","tag-fossil-fuels","tag-government","tag-nature-climate-change","tag-renewable-energy","tag-technology"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35481"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35481\/revisions"}],"predecessor-version":[{"id":35482,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35481\/revisions\/35482"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}