There she blows

Per an article in Power Technology in April, 2019 by Jack Unwin called “Top ten US states by wind energy capacity:”

“Donald Trump’s well-known hostility towards wind power and what he believes is its cancer-causing abilities wind energy is a well-established source of power in the US.

In fact, the US is the second largest producer of wind energy in the world with an installed capacity of over 96GW, and it has six of the world’s top ten onshore windfarms. But progress still needs to be made as a number of states in the southeast from Arkansas to Florida don’t have any wind turbines installed at all.”

Using updated statistics at the end of 2019, the top five states for wind energy are:

Texas (28,843 MW)*
Iowa (10,201 MW)
Oklahoma (8,172 MW)
Kansas (6,128 MW)
California (5,973 MW)

It should be noted, since they are smaller states, the top three by percentage of electricity generated by wind energy are: Iowa (41.7%) Kansas (36.4%) Oklahoma (31.7%). Saying it differently, more than 1/3 of the electricity produced in these three states combined come from wind energy.

The upside remains huge, especially referencing the two states that have no wind mills. The cost of wind energy is compelling and it is does not have the environmental degradation and cost of coal or does not leak methane or use water to acquire like natural gas. And, this does not reflect the huge growth in solar energy that has occurred and will occur.

I take pride that we are moving forward in spite of the efforts of the US president to play up fossil fuel. I would listen to the counsel of deceased oil tycoon T. Boone Pickens, who said almost ten years ago, natural gas will buy us time, but the future of energy in the middle of the country is wind energy. It should be noted, Exxon Mobil was just removed from the Dow Jones as its capitalization has fallen.

Please remember Pickens’ words as he noted the wind blows across the plains states. And, the sun also shines across the country. More on that source later.

Note: Oil rich Texas has made a concerted effort to build wind energy. The following paragraph comes from wfaa.com’s website earlier this year.

“In Texas, the wind blows hardest in the West side of the state. But most people live in the central and eastern parts. So, Texas built 3,600 miles of electric transmission lines to carry power out of the most remote parts of the state. The legislature called it Competitive Renewable Energy Zones.Feb 16, 2020”

Corporate shareholders are acting on climate change

While fossil-fuel funded politicians avoid addressing climate change and strip away governance enabling industry polluters, shareholders have been picking up the baton. Last week, Reuters published an article called “Chevron ties executive pay to methane and flaring reduction,” which defines specific gas emissions targets.

The article penned by Jennifer Hiller notes that it is not just executives with incentive plan targets to reduce emissions. 45,000 employees also have incentive plan emission targets. In other words, their pay is tied to combatting climate change. The intermediate goal is to reduce gas emissions by 25% by 2023.

While Chevron is the first to tie incentives to reducing gas emissions, in the month before the current US President announced our pullout of the Paris Climate Change Accord, three energy companies -ExxonMobil, PP&L and Occidental Petroleum – announced shareholder votes requiring management to report on efforts to address climate change. The Exxon-Mobil vote is telling in that they face a shareholder lawsuit and one by the New York Attorney General, Barbara Underwood, for misrepresenting the impact of climate change on their business to investors.

Per The Guardian, the NYAG lawsuit notes Exxon’s “longstanding fraudulent scheme” to downplay the impact of climate change including under-representing the “proxy costs” of fossil-fuel extraction. This lawsuit follows a three-year investigation and uses Exxon’s own research and scientists’ speeches against them. Before they took a “global warming is a hoax” public relations stance around the turn of the century. Exxon was active in climate change research. Even Shell produced a video in the 1990s that was made for educational purposes about the dangers of climate change.

But, it does not stop there. Well before fossil-fuel company shareholders made these impositions on management, more forward thinking companies like Amazon, Facebook, Google, IKEA and Walmart have invested in renewable energy like wind and solar energy. IKEA and Walmart are using their expansive store rooftops to place solar panels, while the three technology companies have used all of the above renewable energy strategies to power their  data centers. In my state of NC, these companies have helped propel the state forward as a top four solar energy state.

Let me close with my favorite Super Bowl commercial of last week, Budweiser produced a commercial that noted their beer is now being produced by wind energy. Seeing the Clydesdales meander down a road surrounded by windmills was a beautiful sight. It showed this is not a future goal – it is here. And, just to show it is making a difference, over 1/3 of Iowa’s electricity is produced by wind energy and Germany just announced renewable energy now exceeds coal energy as the biggest electricity source and they plan to be 100% renewable energy powered by 2038, twenty years from now.

A Portugese Energy Company knows about US Growth

An article in Reuters earlier this week noted a Portugese energy company that knows first hand where energy growth is occurring in the United States. It may be surprising to the current White House, but not the market, the growth is not in the coal energy sector.  Per Timothy Gardner’s article “EDP bullish on US renewable power despite Trump’s support for coal” in Reuters, the following quote is compelling.

“‘U.S. renewables represent the growth engine of our company,’ António Mexia, who since 2006 has run the power utility EDP (EDP.LS), one of Portugal’s biggest companies, said in an interview on Tuesday.

U.S. wind and solar power projects represented 65 percent of new investments last year at EDP’s renewables arm EDPR (EDPR.LS), and are expected to continue at that rate in 2018 and in 2019, Mexia said. EDPR operates renewable projects in 11 other countries in Europe and the Americas.”

This is not inconsistent with other measures in America as solar and wind energy growth have risen with the continual fall in pricing. And, it is showing up in recurring double digit job growth in solar and wind energy.

I have cited the significant increase in wind energy across our plains states, but this is following the forecast of oil tycoon T. Boone Pickens, who appeared on “60 Minutes” more than five years ago. He noted that natural gas expansion is a bridge to wind energy. It is just buying us time to get the infrastructure ready and prices to get more effective. It should be noted that several states get over 10% of their electricity from wind energy, with Iowa  at just under 33% leading in percentage of total and Texas at 16% producing the most wind energy due to its size.

In California, North Carolina, Florida and other southern states in the east and west, solar energy is growing significantly. California, by itself, would be one if the most prolific solar countries. And, Tesla is more of a battery storage company than car company. Elon Musk went live with a massive battery storage site to help a French company power southern Australia with solar energy. It truly is a global industry, so seeing a Portugese company invest here in the US is not unusual.

The growth in energy jobs are in renewables. It would be nice if this was more publicly recognized by all of our elected leaders, not just the ones who are not funded by the fossil fuel industry.