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Car companies in this country and others, for example, are rushing headlong to develop electric-powered vehicles EVsgoaded on by the success of such brands as Tesla. Banks are reducing their exposure in lending to declining industries such as coal. These industries completely understand what is happening, because it goes directly to their bottom line. There is no question that renewable energy sources are on the rise.
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Who is going to invest in an industry that is clearly destined to shrink? Hence the huge investments in pipelines and tankers and Th exploration will be increasingly unrecoverable. Precisely how long it will take is impossible to predict, but the outcome seems clear. Meanwhile, renewables are on the rise, again, in spite of anything Trump does or says.
Coal production will drop nearly 8 percent inand then another 4. But over the same two years, total renewable power generation will rise 30 percent, the U. So despite campaigning on a pledge to save the dirtiest of fossil fuels, President Donald Trump is Cowt a collapse in both domestic coal production and coal generation.
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As recently ascoal use was projected to triple in India by And a zero inflation indexation for the next Fuls years. Just amazing. McKibben points to the stock price of General Electric, plummeting so much in the last few years that it is no longer listed on the Dow Industrial Index. The coal and gas plants on which the company has built its value are becoming obsolete in the eyes of financiers. Which brings us to oil, and the omnipresent internal combustion engine.
Toxic Air: The Price of Fossil Fuels - Greenpeace Report
Oil is the most difficult fossil fuel to replace by renewables, mostly because of … cars. And for every Tesla that rolls off the assembly line, Chinese manufacturers are producing five electric cars.
Auto analysts Cozt already warning consumers to think twice before buying a gas-powered car, since its resale value may fall dramatically over just the next three years. So, great news, one would conclude? Unfortunately, not so much. A far more important question, of course, is whether the changes now underway will happen fast enough to alter our grim climatic future.]
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