Jurisdictions Across the US are Saying "No" to Fracking

States and other smaller jurisdictions are saying no to fracking. More than 150 towns, cities, and counties across the U.S. have already adopted such policies. A number of US jurisdictions have passed laws forbidding fracking. Some have even mandated that up to one-third of their power must come from renewable sources by 2020.

After a thorough investigation the state of New York State banned fracking at the start of 2015. Maryland has put a moratorium on the practice and Maryland county became the first in the state to ban fracking outright.

The End of Fossil Fuel Subsidies

Providing handouts to the wealthiest corporations on earth does not make much sense, particularly when their activities are the leading driver of climate change. Ending fossil fuel subsidies is the most obvious next step in our efforts to tackle the climate crisis. In the wake of the Paris Climate Agreement forged at COP21, continuing fossil fuel subsidies is an oxymoron.

These subsidies take many forms including, tax breaks, cheap loans, price controls, purchase requirements, purchasing equipment, royalty breaks and direct spending. According to some reports there are over 800 ways that taxpayers support the fossil fuel industry.

Obama Begins to Reign-in Methane Emissions from Fracking

Through the Environmental Protection Agency the Obama administration is cracking down on methane associated with the extraction of fossil fuels. Fugitive emissions are unintended or irregular gas leaks, however most of the emissions associated with fracking are intentional. Releases of gas are part of the standard operating procedure of the extraction process.

Methane is main ingredient in natural gas and one of the world's most potent greenhouse gases. The Obama administration’s new rules to curb methane come in the wake of two reports that illustrate the dangers of fracking. These reports show that methane is seeping into that atmosphere throughout the fracking process from extraction to the end users.

Fracking Contaminates Drinking Water

Despite the secrecy of the fracking industry and the protections afforded by some states there is mounting evidence that hydraulic fracturing or "fracking" contaminates drinking water. Fracking is a fossil fuel extraction process that consists of injecting chemicals deep underground to break up shale formations.Conservative estimates indicate that there have been at least 260 documented examples of wells contamination due to fracking in Pennsylvania alone. As reported in Scientific American, a 2013 study published in the Proceedings of the National Academy of Sciences USA found widespread examples of methane laced drinking water In Pennsylvania. The researchers showed that the closer you are to a fracking site the more likely that your well will be contaminated.

Natural Gas versus Renewable Energy

Natural gas, particularly gas from fracking cannot hold a candle to renewable energy. Nonetheless, the positive spin associated with fracking for natural gas persists. Natural gas is anything but clean but it continues to be sold as such.

This American made technology has been shipped all around the world. So has US natural gas. As the first load of American gas was being shipped by Cheniere Energy, the company’s vice president of marketing, Meg Gentle, told industry and government officials that natural gas should be rebranded as renewable energy.

Fracking and Earthquakes go Together like Sodom and Gomorrah

Earthquakes caused by fracking are a common occurrence in the US. We have seen a 4000 percent increase in earthquakes in the US in the last 8 years. Earthquakes caused by natural causes can be both destructive and deadly but they are unavoidable, whereas earthquakes caused by fracking for climate change causing natural gas are both lamentable and avoidable. Fracking related earthquakes are caused when the heavily polluted water used for fracking is disposed of by injecting it deep underground below aquifers near fault lines.

Leaking Methane Associated with Fracking

A close examination of the facts exposes unconventional gas as anything but a cleaner bridge fuel. The gas obtained from hydraulic fracturing (fracking) leaks at every step in the process from extraction to the transportation and distribution. New research suggests these leaks cancel out the emissions reduction efforts of the Obama administration.

While it was known that fracking operations leak, the extent of those leaks is far worse than anyone, including the EPA had expected. Leakage of as little as 4 percent makes fracking a dirtier source of energy than coal. As Colm Sweeney, the head of the aircraft program at NOAA’s Earth System Research Laboratory, told the journal Nature, leakage makes the climate value of natural gas highly questionable.

The Myth that Fracked Natural Gas is a Bridge Fuel

Now that the EPA is beginning to reign in methane emissions, we need to expose the myth that natural gas is a bridge fuel that will help us to transition to renewable sources of energy. The logic supporting fracking is based on the fact that there are lower carbon emissions associated with the burning of gas compared to coal.

However, a number of studies clearly demonstrates that when you factor the leaks, fracking for gas, is not clean and it may even have a more destructive climate impact than coal.

Investor Warning: Fossil Fuels and the Risk of Stranded Assets

It is becoming increasingly apparent that fossil fuels represent a substantial risk that should make investors wary. Fossil fuel reserves, including oil, gas and coal will be rendered obsolete in the coming decades, leaving investors holding valueless investments. A plethora of peer reviewed science tells us the curbing fossil fuel use is key to climate mitigation.

From widespread calamitous coastal flooding to devastating extreme weather events the need to urgently act on climate change has finally been accepted by every nation on earth. The economics of climate action is sound. A cost benefit analysis reveals the overwhelming logic. We must the eradication of fossil fuels as soon as possible. The impetus to act on climate change, once dismissed by some, is now a fact of life for all thinking people.

Diminishing Profits Signal the Beginning of the End of Oil

Oil is dying. Low oil prices are erasing profits and setting into motion a death spiral from which fossil fuels will not recover. Big Oil is cutting costs, and scaling back production, this results in smaller returns and diminished investor confidence. The addition of carbon pricing schemes and the elimination of subsidies will ultimately inflate prices and reduce demand.
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The Porter Ranch Methane Leak Could be a Catalyst for Change

 The invisible methane leak in California is a great opportunity to open a discussion about the future of natural gas in America. The Porter Ranch disaster is one of the biggest environmental disasters in US history and it is happening right now in southern California. The methane leak at the SoCalGas Aliso Canyon Storage Facility, located in the Porter Ranch neighborhood of northwest Los Angeles, is already the largest such leak in U.S. history and it is far from over. The leak started in October and SoCalGas has indicated that it does not expect to be able to cap the leak until March.

Oil is a Bad Investment

Iinvestors can no longer avoid the realization that their fossil fuel holdings are fraught with risks. While there are many factors at play, the 18 month slide and low price forecasts combine to make the point that investing in oil makes no economic sense.

In the short term China's slowing growth and the glut of oil are driving down the price. The situation will be exacerbated by the lifting of sanctions allowing Iran to sell its oil. High production and lower than expected demand mean that oil prices will continue to fall well into 2016.

Fossil Fuel Subsidies and Renewable Energy Post COP21 (Infographic)

One of the most important things we can do to curb climate change is to end fossil fuel subsidies.  This would reduce the amount of fossil fuels burned and it would level the playing field for clean renewable sources of energy. Event thought 60 percent of all new investment is going into renewable energy fossil fuels still get the lions share of subsidies. The International Energy Agency (IEA) say that government subsidies for fossil fuels are 12 times greater than those for renewable energy.

Financial Losses Associated with Fossil Fuels

The losses associated with fossil fuels are staggering and it is not just oil producing states and companies that are feeling the heat. Pension funds going long on oil are getting killed as they hope that prices will rebound.

With oil prices around $50 per barrel, the IEA estimates that OPEC states have lost half a trillion dollars a year in revenues since the oil price fell from over $100 a barrel in 2011-2014 to current levels. The declining price of oil is also creating volatility in the stock market and significantly impacting the petro-economies of both Russia and Canada.

Cities, Investors and a Prince Support Fossil Fuel Divestment

What do Prince Charles, Investors and the City of Oslo all have in common? They are all recent advocates of divestment from fossil fuels. What started as a grass roots movement has blossomed into a global effort to call for a future with integrity and common sense. Fueled by the divestment movement, the transition to a more sustainable economy is underway.

Fossil fuel divestment is the fastest growing movement in the world with a 50 fold increase in 2014. If we are to reign in emissions we must radically reduce our use of fossil fuels. This is particularly important as we head down the final stretch towards COP21.

US Proposals to Cut Methane and Other Pollutants

As an extension of his Climate Action Plan President Obama through the EPA has announced a series of proposals that will reduce methane and other harmful emissions. While there are there are already some voluntary programs to reduce methane emissions, the EPA has proposed new regulations that will significantly reduce methane in the oil and gas sector as well as in landfills.

In June of this year the EPA announced that it was preparing plans to limit methane. On August 18, 2015, the EPA publishes more details of the new rules. The standards are intended for the oil and gas sector. They are designed to reduce methane, VOCs and other toxic air pollutants. Under the proposed regulations the oil and gas industry would have to cut methane emission by 40 to 45 percent from 2012 levels by 2025.

Renewable Energy Can Replace Fossil Fuels

This article from 2013 shows that even two years ago there was already strong evidence to support the contention that renewable energy can replace fossil fuels. ________________________________________

As the primary driver of climate change we need to replace fossil fuels with clean energy. If we are to succeed in reducing emissions from petrochemicals we will need to expedite the expansion of renewable energy.

Contrary to the views expressed by the dirty energy lobby, it is entirely realistic to believe that renewable energy can replace fossil fuels. As explained by the Worldwatch Institute, State of the World 2013, we need to do so before its too late. Renewables have shown tremendous growth and with the right support this can be accelerated.

The Growth of US Renewables are Outpacing Fossil Fuels

Renewable energy is growing faster than fossil fuels in the US. In 2014 new capacity from renewables has grown faster than coal, oil and even gas. Renewable energy generating capacity has increased 72 times faster than coal and 163 times faster than oil. According to the Sustainable Energy in America Factbook, between 2008 and 2015 wind and solar energy capacity in the US has tripled. Renewable energy now contributes just under 17 percent of total installed capacity in the US. That is more than oil and nuclear combined.

Low Oil Prices Offer an Opportunity to Combat Climate Change

The plunge in the price of oil makes this an ideal time to deploy market disincentives that can cut emissions and combat climate change. We know that if we are to stave off the worst impacts of climate change we must substantially reduce our emissions. As the leading cause of climate change fossil fuels are the most obvious focal point.

All but the willfully ignorant understand that the economic costs of inaction far outweigh the costs of engagement. We have seen a number of studies which suggest the longer we wait the more it will cost.

Renewable's Predictable Pricing Trumps Volatile Oil

Renewable energy offers the kind of pricing predictability that is in everyone’s interest. While the price of oil has fluctuated, generally increasing over time, the price of renewable energy has shown fairly steady and consistent declines.

A new report released by the International Renewable Energy Agency (IRENA) indicates the costs of renewables will fall by almost 40 percent in the next two years, and solar energy should reach grid parity in 80 percent of its market by 2017.