The United Kingdom just announced it will ban sales of combustible engine cars in 2040. Australia announced the same week the planned development of a super highway for electric cars, complete with charging stations.
These announcements come a month after France made a similar decision to the more recent UK one to ban combustible cars and Volvo said they would no longer make combustible cars after 2019. And, not to be outdone, several cities like Paris, Mexico City, Madrid et al, want to ban combustible cars much sooner by 2025.
In fact, as reported in the book “Climate of Hope” by former NYC Mayor Michael Bloomberg and former Sierra Club ED Carl Pope, cities around the world are leading the way on the climate change fight. They are making huge strides in making buildings more green, improving the time for taxis and cars to move across the city which produces less exhaust, developing more pedestrian and bike areas that improve safety and Eco footprint and migrating to hybrid and electric vehicles among other things. Bloomberg cites large buildings as a huge impact on carbon emissions, so improvements like NYC made with the 1931 built Empire State Building pays dividends.
Lastly, the shareholders of three energy companies – ExxonMobil, Occidental Petroleum and PPL – voted in May to require management to report their climate change impact and plans to reduce such impact to the shareholders. It is not ironic that ExxonMobil is being investigated by three state attorney generals for alleged past misrepresentation to shareholders of the impact of climate change on its business, which would be a securities crime.
So, back to my question in the title which is addressed to the US President, EPA Director and DOE Director, are you sure you want to double down on fossil fuels? Or, would you rather acknowledge the significant movement toward renewable energy and conservation in your own country and invest in the true growth industries and our environment?