Pandemic Response Should Mobilize Around Low-Carbon Solutions – The Energy Mix
With the coronavirus pandemic devastating the global economy and pushing world oil prices over a cliff, the federal government has two potential options in dealing with the oil and gas industry. It can give in to the predictable lobbying from fossil fuel interests, or it can use the virtual shutdown of the economy for industry mobilization.
But protecting the country and stabilizing the economy is not synonymous with shoring up a declining industry that has lost the confidenceof international investors, currently loses money on every barrel of oil it produces, and accounts for a massive proportion of the country’s greenhouse gas emissions.