Although Trump keeps pushing lumps of coal and tankers full of freedom gas down the world’s collective throats, his industry-friendly administration hasn’t prevented America’s coal industry from dying or its fracking companies from losing piles of money. Nor has he stopped wind from gaining even more traction. After setting growth records last year, another breakthrough is forecast for 2020 as investors pour resources into new waters: offshore wind energy. But fearing its tremendous potential energy capacity, Trump’s minions are ramping up efforts to hold it back. As election fever grips the nation, L. Michael Buchsbaum looks at the state of offshore wind in Part 3 of his series on America’s energy transition.
After swallowing up many assets of former rival E.ON and daughter company Innogy in a reconfiguration of both the European and global energy sectors, the new RWE has pledged to become carbon neutral by 2040. Long Europe’s worst polluter and a steadfast opponent of the clean energy transition, it’s working hard to rebrand itself as a green innovator. However, as it plans to annually invest 1.5 billion euros in new wind, solar photovoltaic and storage, RWE is mainly focusing outside of its German backyard where it continues to generate the filthiest energy in the world, cynically profiting off the rapidly slowing Energiewende. Michael Buchsbaum explains the new RWE.
Though fracking enabled the U.S. to finally re-achieve the long held conservative dream of energy independence, the ever-increasing volume of fracked fossil gas flowing out of the U.S., has led to an international glut as prices continue to fall. Now neck-deep in debt and historically unprofitable, pure play gas frackers are starting to struggle. Mass bankruptcies, shut-ins, and layoffs are likely. But Trump’s evisceration of environmental protection laws combined with ludicrously low liability bonds virtually ensures the public will be stuck with the clean up bill. Michael Buchsbaum explains.
As utilities across Europe make the switch from coal to gas, CO2 emissions there are falling. But on the other side of the Atlantic, ever-rising fracking production deteriorates air and water quality, impacting public health. Buchsbaum reports from Colorado where ozone and other industry associated pollutants regularly makes outdoor exercise dangerous.