Tom Kirkman + 8,860 January 10, 2020 Yep, CNN. Go ahead, major cities. Try to cut out hydrocarbons and hydrocarbon investments from your cities. This should be amusing. Enjoy freezing your butts off in winter time, and riding bicycles everywhere in your Nirvanas. Bill De Blasio and Sadiq Khan want your city to dump fossil fuels New York (CNN Business) New York City Mayor Bill de Blasio and London Mayor Sadiq Khan have an urgent message to the world's cities: Ditch your fossil fuel investments now to avert a climate catastrophe. The leaders unveiled Tuesday what amounted to how-to kits that would allow mayors to follow in their footsteps by divesting from oil, natural gas and coal investments. The divestment push adds to the mounting financial, legal and political pressure on the fossil fuels industry. The momentum is clearly in favor of renewable energy. "Removing fossil fuel assets from our portfolios and increasing climate-friendly investments are not easy steps, but they are absolutely necessary," de Blasio wrote. The toolkit offers tips on how to communicate with voters, finance officials and the media about divestment. It provides responses to likely concerns and provides case studies from recent campaigns. ... ... Despite the divestment campaign by New York and London, fossil fuels aren't going away any time soon. Solar and wind energy are rapidly gaining traction, yet coal remains America's second-leading source of electric power. Natural gas, a cleaner burning fossil fuel, is No. 1. And soaring tensions between the United States and Iran underscore the economic and security benefits of America's oil boom. The United States still relies on foreign oil, but not nearly as much as in the past because it's now the world's leading oil producer. "Fossil fuels are the dominant portion of global energy supply," said Molchanov of Raymond James. "And it will remain that way, for decades in the future." Quote Share this post Link to post Share on other sites
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