For climate activists, the coronavirus pandemic has held some positive news with regards to its short term effects. As a result of the economic standstill in large parts of the world, global carbon emissions decreased by 20 percent by the end of March compared to the previous year. But as pressure is building up to get the economies going again, they must also fear that once this global health crisis has waned political and economic activity will return to business as usual, with the global climate agenda losing out against the urgency of rebuilding growth with the help of old industries. Rebecca Bertram takes a look at the possible sustainable future.
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Red Alarm: Europe’s Next Drought is Already Upon Us
In much of Europe, this April is proving one of the driest in history. In Germany, wildfires are blazing, forests and farmlands are bone dry, and river depth in some areas is a half of what it should be. According to climate scientists, this could be the new normal as global warming enhances the frequency of severe droughts. Farmers though could do more to secure stable harvests: by growing more diverse crops. Paul Hockenos takes a closer look.
Will Coronavirus Improve Poland’s Chances of Meeting Its 2020 RES Target?
For the last two weeks of March, while Poland was experiencing the difficulties created by Covid-19, electricity demand dropped by as much as 8.5 percent. This drop has effectively increased the share of renewable energy sources within the national energy mix. How will the crisis provoked by the new virus affect Poland’s energy and climate policy? Will changes in the energy market make it possible to meet the EU’s 2020 renewable energy targets on the home straight? Agata Skrzypczyk takes a look behind the scenes.
Pump Punishment: As Oil Prices Fall, so Does the American Economy
Despite the recent historic agreement between OPEC, Russian, American and other global oil producers to slash supply by the 1st of May with the hopes of bolstering prices, the United States will still suffer an “unprecedented” economic blow according to the International Energy Agency. With high production costs and deeply in debt, many U.S. producers, especially those extracting from shale fields, are bleeding cash as they try desperately to cut costs. Output is expected to shrink by more than two million barrels per day. Analysts predict waves of bankruptcies, along with thousands of job losses and steep drops in tax revenues for oil-dependent states as the fallout from a monster oil bust ripples throughout America’s already staggering economy. L. Michael Buchsbaum reviews the worsening situation.
Renewables: The End of Energy Globalization?
Over the last two centuries, energy trade has become increasingly global. Where wood was found and used locally, coal was mined and transported nationally, and oil emerged as a global commodity. Natural gas is also moving from regional markets to the global shipping of LNG. The same holds for energy demand, which is growing and shifting Southward, away from traditional OECD markets, to China, India, South-East Asia and Africa, as the International Energy Agency (IEA) confirms in its findings. Renewable energy harbors a number of characteristics that could potentially end this trend of increasingly global energy trade. Just Voskuyl and Daniel Scholten take a critical look at the bigger picture.
A Wind of Change for Greece’s Energy Transition?
After years of stagnation, the new government wants to speed up the energy transition in Greece. Can the vast potential of wind and solar energy finally be exploited following the slow-down of recent years? Daniel Argyropoulos fills us in on the details.
A Turning Point for Ukraine: Full-Scale Energy Transition or Re-established Gas Dependency?
For the Ukrainian energy sector, the beginning of the year was marked by the “Ukrainian Green Deal” proposal developed by the Ministry of energy and environmental protection. According to the Ministry’s vision for 2050 presented draft Green Energy Transition concept, Ukraine is set to step on the energy transition pathway and actively develop energy efficiency measures, phase out fossil fuels and switch to renewable energy sources (RES). But when it comes to near-term plans, further investments of public funds in nuclear and gas projects are still being considered by the government. Kostiantyn Krynytskyi, NGO “Ecoaction”, head of energy department and Oleh Savytksyi, Ukrainian Climate Network, climate and energy policy expert report on a country at crossroads.
Corona Bust: Big Oil Is Desperately Trying Not to Crash
Overshadowed by the pandemic, an oil production and price war waged between the Saudi Arabian-led OPEC, Russia, the U.S. and other nations has landed a body blow upon the already weakened global economy. With billions worldwide now sheltering in place, oil usage has dropped by over 30%. But production hasn’t. The massive oversupply has crashed market prices lower than at any point in almost 20 years. To stop the bleeding, OPEC and other producers as well as the G20 have seemingly come to an historic deal that will slash global production across the boards. But the damage to the underlying fossil-fuel based economy means that Corona’s economic wreckage will ripple out just as we start to emerge into a brave new social-distance demanding world. L. Michael Buchsbaum examines the origins and implications of the Corona oil crash.
Corona-crisis Hits Nuclear Sector
Covid-19 spread shows up vulnerability at heart of nuclear programmes, with resilience of UK critical national infrastructures undermined. The coronavirus’ effects act as threat multiplier, as David Lowry explains.
Merkel’s Smoke and Mirrors Coal Exit Plan
A year after Germany’s 28-member “Coal Commission” presented a fragile compromise brown coal phase-out, in mid-January Merkel’s Grand Coalition government formally released their own plan. Breaking with the Commission’s recommendations by slowing down the pace of the phase-out, immediately greenlighting the new Datteln 4 hard coal plant and showering RWE and other coal operators with billions of Euros, it also calls for more gas plants and additional wind turbine construction limitations. Neither ensuring Germany can adhere to the Paris Agreement nor its own clean energy targets, environmental groups are outraged as investors celebrate. L. Michael Buchsbaum takes us into the dirty deal.