What do you think Al Gore’s price tag is in the fight against global warming? His new group of leaders is asking for $15 trillion over the next two decades to limit future global warming. This group of executives known as the Energy Transitions Commission (ETC) reports that they will need investments of around $300 to $600 billion per year to help the world meet the goals laid out in the Paris agreement. The ETC is made up of energy executives, activist leaders, and investment bankers, as well as former Vice President, Al Gore. ETC’s goal is to “accelerate change towards low-carbon energy systems that enable robust economic development and limit global warming.”
The ETC is calling for the following results in the next several decades: 1). The rapid decrease in unabated coal consumption. 2). A peak of oil used in the 2020’s. 3). A continued role for gas provided methane leakages reduced significantly. 4). Global carbon dioxide emissions cut from 36 gigatons to 20 gigatons by 2040. 5). A net zero emissions after 2050. If they can hit those five goals, then global temperatures will be kept from hitting 2 degrees Celsius by 2100.
In order to do all this, the ETC claims that the world needs “investment in renewables and other low-carbon technologies some $6 trillion higher ($300 billion per year); while the largest required increases – of almost $9 trillion ($450 billion per year) – will be in more efficient energy saving equipment and buildings.” That is how you get to the $15 trillion price tag!
This ETC report comes out just as the Trump administration is considering whether or not to stay committed to the Paris agreement which went into effect in 2016. President Trump has ordered Obama-era policies that are meant to comply with the Paris agreement to be rolled back, but they have not declared whether they will pull out of the accord altogether. Other European countries, as well as energy companies, have been putting pressure on the White House to stay in the agreement.
What do you think about Al Gore’s assessment of what it will cost to avoid the adverse effects of global warming? What do you think President Trump ought to do?
Credit: The Daily Caller