Selected category: Economics

Electric vehicles enter the here and now

A Ford at an electric car charging station in Buffalo, NY. Photo by Fortunate4now

The high level of confidence that automotive industry leaders have in the future of electric vehicles (EV’s) has been on full display recently.

In just the past few weeks:

This spurt of corporate announcements has been paired with a bevy of statements of international leadership:

These developments are more than just excitement about an emerging solution. They are indicators that the market for EVs is developing faster than anticipated even just last year.

Consider the findings of a new report from Bloomberg New Energy Finance. It found that:

[L]ithium-ion cell costs have already fallen by 73 percent since 2010.

The report updated its future cost projections to reflect further steep cost reductions in the years ahead, with a price per kilowatt-hour in 2025 of $109 and in 2030 of $73.

Cost reductions on this order would result in EVs achieving cost parity with some classes of conventional vehicles by 2025 – and across most vehicle segments by 2029, according to the report. EV sales are expected to really take off once they achieve cost parity with conventional vehicles, as the vehicles are significantly less expensive to fuel and maintain.

The acceleration in the EV market is great news for climate protection too. A recent assessment found that zero-emission vehicles, such as EVs, need to comprise 40 percent of new vehicles sold by 2030 in order for the automotive sector to be on a path to achieve critical mid-century emissions targets. With the momentum in the EV market, we have a critical window to further boost this market by ensuring greater access of electric vehicles and a cleaner electric grid to power them.

Unfortunately, the U.S. has not demonstrated the same appetite for national leadership on EVs as other countries. Even worse, we are going in the wrong direction – with serious implications for our health, climate and economy.

Instead of leading, the Trump Administration is undermining critical clean air and climate protections including the landmark clean car standards for 2022 to 2025. The actions of individual automakers, however, tell a very different story from the “can’t do it” mantra put forth by the Administration.

In their commitments, investments and new product introductions, automotive manufacturers and their suppliers are clearly telling us that low emissions vehicles can play a much bigger role in the near future.

The fact is that automakers can meet the existing 2022 to 2025 federal greenhouse gas standards through deployment of current conventional technology alone. Now, in addition to the robust pathway automakers have through existing technologies, EV adoption rates in the U.S. will be 10 percent in 2025 if the Bloomberg New Energy Finance forecasts hold true. This is further proof that the existing standards are highly achievable. Rather than weaken the standard, the Administration should be pursuing options to further scale EVs over the next decade.

Investing in clear car solutions is sound economic policy. These investments enhance the global competitiveness of the U.S. automotive sector.

This is why the UAW in a letter supporting the existing 2022 to 2025 clean car standards, noted:

UAW members know firsthand that Corporate Average Fuel Economy (CAFE) and greenhouse gas (GHG) standards have spurred investments in new products that employ tens of thousands of our members.

Like other key aspects of the potential of the emerging EV marketplace, the role it can play as an employer has been in the news recently too.

An AM General assembly plant in northern Indiana was acquired by electric vehicle manufacture SF Motors. The company announced that it will make a $30 million investment in the facility and keep on all the 430 employees.

Fittingly, most of the 430 jobs that were saved to manufacture an emerging, clean technology are represented by UAW Local 5 – the oldest continuously operating UAW Local in the country.

Also posted in Cars and Pollution, Energy, Green Jobs, Greenhouse Gas Emissions, Jobs, News, Partners for Change, Policy| Comments are closed

President Trump’s mystery math

By this time, your eyes may have glazed over from reading the myriad of fact checks and rebuttals of President Trump’s speech announcing the United States’ withdrawal from the Paris climate agreement. There were so many dizzying falsehoods in his comments that it is nearly impossible to find any truth in the rhetorical fog.

Of all the falsehoods, President Trump’s insistence that compliance with the Paris accord would cost Americans millions of lost jobs and trillions in lowered Gross Domestic Product was particularly brazen, deceptive, and absurd. These statements are part of a disturbing pattern, the latest in a calculated campaign to deceive the public about the economics of reducing climate pollution.

Based on a study funded by industry trade groups

Let’s be clear: the National Economic Research Associates (NERA) study underpinning these misleading claims was paid for by the U.S. Chamber of Commerce and the American Council for Capital Formation (ACCF) – two lobbying organizations backed by fossil fuel industry funding that have a history of commissioning exaggerated cost estimates of climate change solutions. When you pay for bad assumptions, you ensure exaggerated and unrealistic results.

In the past five years alone, NERA has released a number of dubious studies funded by fossil fuel interests about a range of environmental safeguards that protect the public from dangerous pollution like mercury, smog, and particulate matter – all of which cause serious health impacts, especially in the elderly, children, and the most vulnerable. NERA’s work has been debunked over and over. Experts from MIT and NYU said NERA’s cost estimates from a 2014 study on EPA’s ozone standards were “fraudulent” and calculated in “an insane way.” NERA’s 2015 estimates of the impacts of the Clean Power Plan, which are frequently quoted by President Trump’s EPA Administrator Scott Pruitt and others, have also been rebutted due to unrealistic and pessimistic assumptions.

The study does not account for the enormous costs of climate pollution

In his speech about the Paris agreement, President Trump crossed a line that made even NERA so uncomfortable that it released a statement emphasizing that its results were mischaracterized and that the study “was not a cost-benefit analysis of the Paris agreement, nor does it purport to be one.”

The most important point embedded in this statement is that the study does not account for the enormous benefits of reducing the carbon pollution causing climate change. Climate change causes devastating impacts including extreme weather events like flooding and deadly storms, the spread of disease, sea level rise, increased food insecurity, and other disasters. These impacts can cost businesses, families, governments and taxpayers hundreds of billions of dollars through rising health care costs, destruction of property, increased food prices, and more. The costs of this pollution are massive, and communities all around the U.S. are already feeling the impacts – yet the President and his Administration continue to disregard this reality as well as basic scientific and economic facts.

Cherry-picking an impractical and imaginary pathway to emission reductions

The statistics the President used were picked from a specific scenario in the study that outlined an impractical and imaginary pathway to meet our 2025 targets designed to be needlessly expensive, as experts at the World Resources Institute and the Natural Resources Defense Council have noted. The study’s “core” scenario assumes sector by sector emission reduction targets (which do not exist as part of the Paris accord) that result in the most aggressive level of mitigation being required from the sectors where it is most expensive. This includes an almost 40 percent reduction in industrial sector emissions – a disproportionate level not envisioned in any current policy proposal – which results in heavily exaggerated costs.

An expert at the independent think tank Resources for the Future, Marc Hafstead, pointed out:

The NERA study grossly overstates the changes in output and jobs in heavy industry.

Yale economist Kenneth Gillingham said of these numbers:

It’s not something you can cite in a presidential speech with a straight face … It’s being used as a talking point taken out of context.

The NERA analysis also includes a scenario that illustrates what experts have known for decades – that a smarter and more cost-effective route to achieving deep emission reductions is a flexible, economy-wide program that prices carbon and allows the market to take advantage of the most cost-effective reductions across sectors. Even NERA’s analysis shows that this type of program would result in significantly lower costs than their “core” scenario. Not surprisingly, that analysis is buried in the depths of the report, and has been entirely ignored by the Chamber of Commerce and ACCF as well as President Trump.

Study ignores potential innovation and declining costs of low carbon energy

Finally, the NERA study assumes that businesses would not innovate to keep costs down in the face of new regulations – employing pessimistic assumptions that ignore the transformational changes already moving us towards the expansion of lower carbon energy. Those assumptions rely on overly-conservative projections for renewable energy costs, which have been rapidly declining. They also underestimate the potential for reductions from low-cost efficiency improvements, and assume only minimal technological improvements in the coming years.

In reality, clean energy is outpacing previous forecasts and clean energy jobs are booming. There are more jobs in solar energy than in oil and natural gas extraction in the U.S. right now, and more jobs in wind than in coal mining.

The truth is that the clean energy revolution is the economic engine of the future. President Trump’s announcement that he will withdraw the U.S. from the Paris accord cedes leadership and enormous investment opportunities to Europe, China, and the rest of the world. His faulty math will not change these facts.

Also posted in Clean Power Plan, Energy, Greenhouse Gas Emissions, Jobs, News, Policy| Comments are closed

10 Things You Should Know About the Clean Power Plan

Just hours after President Trump signed an executive order to weaken a wide range of America’s important climate and heath protections, the Administration filed a motion to delay the D.C Circuit court’s review of the Clean Power Plan case.

That’s only the first of what we expect will be many attacks on the Clean Power Plan – our only nationwide limit on climate pollution from power plants. However, the Clean Power Plan is popular with Americans across the country, and an extraordinarily broad and diverse group of leaders and experts from across America have announced their support for the Clean Power Plan since the executive order.

You’ll likely be hearing a lot about this story in the near future. While you follow the news, here are 10 things you should know about the Clean Power Plan.

1. The Clean Power Plan is expected to save thousands of lives and protect the health of Americans across the country. According to EPA’s analysis, when fully implemented the Clean Power Plan will:

    • Prevent up to 3,600 premature deaths each year
    • Prevent up to 1,700 heart attacks each year
    • Prevent up to 90,000 asthma attacks each year
    • Prevent up to 300,000 missed work days and school days each year

2. The Clean Power Plan’s pollution reduction targets are eminently achievable.

Carbon pollution from the power sector has decreased by more than 20 percent since 2005, meaning that we’re already more than two-thirds of the way toward meeting the Clean Power Plan standards for 2030. In fact, most states that are litigating against the Clean Power Plan are on track to meet these pollution limits. The Clean Power Plan is essential to ensure that this momentum is sustained and that power sector investments in clean energy are deployed in a way that maximizes their pollution reduction benefits.

3. The Clean Power Plan can reduce electricity bills for families.

The Clean Power Plan gives states and power companies tremendous flexibility in deciding how to meet the pollution reduction targets – including through cost-effective energy efficiency measures that save families money. Independent analyses of the Clean Power Plan have found that average bills could decline by as much as 11 percent as a result of these measures. That’s why leading consumer and ratepayer advocates, including Consumers Union, support the Clean Power Plan.

4. Our vibrant clean energy sector employs millions of Americans and it is thriving.

According to a recent assessment by Advanced Energy Economy, the United States clean energy sector is now a rapidly-growing, $200 billion industry that employs 3.3 million Americans.

5. Clean energy is creating economic opportunities in communities across the nation.

The American Wind Energy Association estimates that 70 percent of wind farms are located in low-income counties, and that wind developers currently pay $222 million a year in lease payments to U.S. farmers, ranchers and other rural landowners. AWEA also estimates that wind energy has created more than 25,000 manufacturing jobs in 43 states.

6. The Administration’s promises that revoking climate and clean air protections will bring back coal jobs are false, as the coal industry itself recognizes.

Independent analyses have found that employment in the coal industry has been falling steadily since 1975, due largely to changing methods of coal production and – in more recent years – by competition from inexpensive natural gas. These trends cannot be reversed by revoking the Clean Power Plan or other protections for clean air and clean water. Even coal company executives have acknowledged that the executive order can’t bring mining jobs back.

7. An extraordinarily broad and diverse coalition is supporting the Clean Power Plan in court.

This coalition includes, among others: eighteen states and sixty municipalities; power companies that own and operate nearly ten percent of the nation’s generating capacity; leading businesses like Amazon, Apple, Google, Mars, and IKEA; former Republican heads of EPA; public health and environmental organizations; consumer and ratepayer advocates; faith organizations; and many others.

8. Large majorities of Americans in red and blue states alike support reducing climate pollution from existing power plants.

According to a recent national poll, 69 percent of Americans support placing limits on climate pollution from existing power plants – including a majority of Americans in every Congressional district in the country.

9. The nation’s leading businesses support policies to reduce climate pollution.

Just this month, over 1,000 companies and investors called on the Trump Administration to continue low-carbon policies, noting that “failure to build a low-carbon economy puts American prosperity at risk” and that “the right action now will create jobs and boost U.S. competitiveness.”

10. The Clean Power Plan rests on a rock-solid legal foundation.

The Supreme Court has held on three separate occasions that Congress has vested EPA with the responsibility – and the tools – to reduce carbon pollution under the Clean Air Act. Numerous legal experts –  including drafters of the Clean Air Act, former EPA Administrators who served under Presidents Nixon, Reagan, and Bush, and former state energy and environmental officials – have affirmed the strong legal basis for the Clean Power Plan 

Attacks on the Clean Power Plan and our other clean air protections present an unprecedented attack on our children’s health. It takes our nation backwards – to more pollution, more disease – even though Americans support forward progress towards clean air and clean energy.

Also posted in Clean Power Plan, Policy, Setting the Facts Straight| Comments are closed

Six Ways President Trump’s Energy Plan Doesn’t Add Up

This blog was authored by Jeremy Proville and Jonathan Camuzeaux 

Just 60 days into Trump’s presidency, his administration has wasted no time in pursuing efforts to lift oil and gas development restrictions and dismantle a range of environmental protections to push through his “America First Energy Plan.” An agenda that he claims will allow the country to, “take advantage of the estimated $50 trillion in untapped shale, oil, and natural gas reserves, especially those on federal lands that the American people own.”

Putting aside the convenient roundness of this number, the sheer size of it makes this policy sound appealing, but buyer beware. Behind the smoke and mirrors of this $50 trillion is a report commissioned by the industry-backed Institute for Energy Research (IER) that lacks serious economic rigor. The positive projections from lifting oil and gas restrictions come straight from the IER’s advocacy arm, the American Energy Alliance. Several economists reviewed the assessment and agreed: “this is not academic research and would never see the light of day in an academic journal.”

Here is why Trump’s plan promises a future it can’t deliver:

1. No analytical back up for almost $20 trillion of the $50 trillion.

Off the bat, it’s clear that President Trump’s Plan relies on flawed math. What’s actually estimated in the report is $31.7 trillion, not $50 trillion, based on increased revenue from oil, gas and coal production over 37 years (this total includes estimated increases in GDP, wages, and tax revenue). The other roughly half of this “$50 trillion” number appears to be conjured out of thin air.

2. Inflated fuel prices

An average oil price of $100 per barrel and of $5.64 per thousand cubic feet of natural gas (Henry Hub spot price) was used to calculate overall benefits. Oil prices are volatile: in the last five years, they reached a high of $111 per barrel and a low of $29 per barrel. They were below $50 a barrel a few days ago. A $5.64 gas price is not outrageous, but gas prices have mostly been below $5 for several years. By using inflated oil and gas prices and multiplying the benefits out over 37 years, the author dismisses any volatility or price impacts from changes in supply. There’s no denying oil and gas prices could go up in the future, but they could also go down, and the modeling in the IER report is inadequate at best when it comes to tackling this issue.

3. Technically vs. economically recoverable resources

The IER report is overly optimistic when it comes to the amount of oil and gas that can be viably produced on today’s restricted federal lands. Indeed, the report assumes that recoverable reserves can be exploited to the last drop over the 37-year period based on estimates from a Congressional Budget Office report. A deeper look reveals that these estimates are actually for “technically recoverable resources,” or the amount of oil and gas that can be produced using current technology, industry practice, and geologic knowledge. While these resources are deemed accessible from a technical standpoint, they cannot always be produced profitably. This is an important distinction as it is the aspect that differentiates technically recoverable from economically recoverable resources. The latter is always a smaller subset of what is technically extractable, as illustrated by this diagram from the Energy Information Administration. The IER report ignores basic industry knowledge to present a rosier picture.

4. Lack of discounting causes overestimations

When economists evaluate the economic benefits of a policy that has impacts well into the future, it is common practice to apply a discount rate to get a sense of their value to society in today’s terms. Discounting is important to account for the simple fact that we generally value present benefits more than future benefits. The IER analysis does not include any discounting and therefore overestimates the true dollar-benefits of lifting oil and gas restrictions. For example, applying a standard 5% discount rate to the $31.7 trillion benefits would reduce the amount to $12.2 trillion.

5. Calculated benefits are not additional to the status quo

The IER report suggests that the $31.7 trillion would be completely new and additional to the current status quo. This is false. One must compare these projections against a future scenario in which the restrictions are not lifted. Currently, the plan doesn’t examine a future in which these oil and gas restrictions remain and still produce large economic benefits, while protecting the environment.

6. No consideration of environmental costs

Another significant failure of IER’s report: even if GDP growth was properly estimated, it would not account for the environmental costs associated with this uptick in oil and gas development and use. This is not something that can ignored, and any serious analysis would address it.

We know drilling activities can lead to disastrous outcomes that have real environmental and economic impacts. Oil spills like the Deepwater Horizon and Exxon Valdez have demonstrated that tragic events happen and come with a hefty social, environmental and hard dollar price tag. The same can be said for natural gas leaks, including a recent one in Aliso Canyon, California. And of course, there are significant, long-term environmental costs to increased emissions of greenhouse gases including more extreme weather, damages to human health and food scarcity to name a few.

The Bottom Line: The $50 Trillion is An Alternative Fact but the Safeguards America will Lose are Real

These factors fundamentally undercut President Trump’s promise that Americans will reap the benefits of a $50 trillion dollar future energy industry. Most importantly, the real issue is what is being sacrificed if we set down this path. That is, a clean energy future where our country can lead the way in innovation and green growth; creating new, long-term industries and high-paying jobs, without losing our bedrock environmental safeguards. If the administration plans to upend hard-fought restrictions that provide Americans with clean air and water, we expect them to provide a substantially more defensible analytical foundation.

Photos by lovnpeace and KarinKarin

This post originally appeared on EDF's Market Forces blog.

Also posted in Energy, Greenhouse Gas Emissions| Comments are closed

Trump Moves to Cook the Books, Undercutting Common Sense Climate Protections

This blog was co-authored with Martha Roberts

It’s reported that the Trump Administration is poised to continue its barrage of attacks on some of our most vital health and environmental protections, following last week’s assault on broadly supported fuel economy and greenhouse gas safeguards for cars and light trucks. Here’s one attack that they may try to sneak under the radar—a move that would undercut common sense climate protection all across the federal government: directing federal agencies to abandon the use of social cost of carbon estimates in their evaluation of new policy.

The social cost of carbon is a measure of the economic harm from the impacts of climate change. Specifically, it’s the dollar value of the total damages from emitting one ton of carbon dioxide into the atmosphere. Weakening or eliminating the use of the social cost of carbon would result in skewed and biased policy-making that ignores the benefits of crucial safeguards and stacks the deck against actions to protect communities from the mounting costs of climate change.

The devastating impacts of climate change on health and the environment – such as extreme weather events, the spread of disease, sea level rise, and increased food insecurity – can cost American businesses, families, governments and taxpayers hundreds of billions of dollars through rising health care costs, destruction of property, increased food prices, and more. Many of these impacts are already being felt by communities across the country, as the government’s leading scientific agencies have found.

When the federal government develops policy affecting the carbon pollution causing climate change, it is both reasonable and essential that it takes these costs into account. The social cost of carbon is a tool that allows policy-makers to do just that.

Currently, the federal government uses a social cost of carbon estimate—roughly $40 per ton of carbon pollution—that was developed through a transparent and rigorous interagency process, relied on the latest peer-reviewed science and economics available, and allowed for repeated public comment as well as input from the National Academy of Sciences.

But that may not last much longer. As we’ve seen, the Trump Administration is waging war against an array of our most crucial health and environmental protections, ignoring the urgent threat of climate change while prioritizing fossil fuel interests. President Trump’s new Administrator of the Environmental Protection Agency, Scott Pruitt, denies that carbon pollution is a primary contributor to climate change, and built his political career by suing EPA 14 times as Oklahoma Attorney General to block protections from mercury, arsenic and smog pollution, hand in hand with the worst elements of the fossil fuel industry. Meanwhile the Administration is proposing devastating cuts to the budgets for EPA and climate research, and is moving towards revoking the Clean Power Plan, America’s first-ever nationwide limits on carbon pollution from power plants.

All of this points to a clear disregard for basic science, economic principles, and our nation’s clean air laws. Eliminating or weakening the social cost of carbon is another pernicious tactic by the Administration to undermine the development of crucial climate safeguards – by erroneously making it appear as though reducing carbon pollution has little or no benefit to society and the economy. Even the current figure is very likely a conservative lower bound since it does not yet include all of the widely recognized and accepted impacts of climate change.

The details of the upcoming attack are still unclear. It’s possible that the Administration may end use of the uniform social cost of carbon estimate at the federal level—despite its rigorous basis and judicial precedent. Other indications suggest that the Administration may choose to artificially and arbitrarily discount the costs of climate change for the health and economic well-being of our kids, grandkids, and future generations—ignoring the growing consensus among economists that supports valuing these impacts more, as does a recent report from the Council of Economic Advisors. Or the Administration may decide to disregard the fact that our greenhouse gas pollution has harmful impacts outside U.S. borders that can have costly repercussions for Americans.

Throwing out the social cost of carbon may play well with President Trump’s supporters in the fossil fuel industry. But the importance and appropriateness of accounting for these costs is a matter of both economics and law. We also know that nearly two thirds of Americans are concerned about climate change. Undermining limits on pollution—protections that are rooted in rigorous scientific research, reflecting long-standing bipartisan economic principles—will ultimately harm the health and environmental safety of all Americans, including Trump’s supporters.

This post originally appeared on EDF's Market Forces blog.

Also posted in Greenhouse Gas Emissions| Comments are closed

When EPA Is Under Threat, So Is Business: Two Key Examples

(This post first appeared on EDF+Business. It was written by EDF's Liz Delaney)

American businesses benefit tremendously from the robust voluntary and regulatory programs of the U.S. Environmental Protection Agency. These programs are now under threat of massive budget cuts and regulatory rollbacks.  In the coming weeks and months, the experts at EDF+Business will examine what a weakened EPA means for business. 

While some politicians may question the reality of climate change, most CEOs do not. So it’s no surprise that while Congress has been stuck, business has been busy addressing the problem. Luckily, they’ve had a helpful partner by their side: the U.S. Environmental Protection Agency (EPA).

Contrary to now head of the EPA Scott Pruitt’s claim that business has been subjected to "regulatory uncertainty"—stated during this year’s Conservative Political Action Conference—the Agency has administered a number of voluntary and regulatory programs that help corporations respond to the challenge of climate change. For companies, future planning is simply good business. This is why many in  Corporate America—having long accepted that climate change is real— are continuing to transition towards low-carbon energy options and work with the EPA to move forward in a sensible, cost-effective manner.

But with the recent announcement on Pruitt’s plans to cut the EPA’s budget by a reported 24 percent—roughly $6 billion, its lowest since the mid-1980's–it may be up to the business community to defend the instrumental role of the Agency in helping business thrive while protecting the environment.

Here’s a look at just two of the many EPA programs that have helped business transition to a clean energy future.

Forging a smart economic future with the Clean Power Plan

Many in the business community strongly supported the EPA’s Clean Power Plan (CPP)—the first-ever national limits on carbon pollution from power plants. The argument? Dirty sources of energy generation are becoming a growing concern for corporate America. These energy sources are increasingly uneconomic. Fortune 500 companies routinely set renewable energy and emissions reduction goals, but find roadblocks in many energy markets around the country.

Fortunately, the CPP can open new opportunities for businesses interested in operating in a clean energy economy. The rule’s flexible framework puts states in the driver’s seat to set plans that call for the most appropriate and cost-effective solutions for meeting pollution reduction targets while spurring innovation. If you ask me, this satisfies Pruitt’s call to "restore federalism" by giving states more of a say in regulations. The plans provide clarity on the energy options available to businesses in different regions, helping to inform their long-term carbon reduction strategies and eventually increase access to cost-effective low-carbon energy.

This explains why last year major innovators including Mars, IKEA, Apple, Google, and Microsoft filed legal briefs in federal court supporting the EPA’s Plan. And more recently, leading executives from over 760 companies and investors—many of them Fortune 500 firms—called upon the new Administration to move ahead with policies to address climate change, like the Clean Power Plan.

The CPP is positioned to:

  • Generate $155 billion in consumer savings between 2020-2030
  • Create 3x as many jobs per $1 invested in clean energy as compared to $1 invested in fossil fuels
  • Lead to climate and health benefits worth an estimated $54 billion, including avoiding 3,600 premature deaths in 2030

The Green Power Partnership

The Green Power Partnership is a voluntary program launched by the EPA to increase the use of renewable electricity in the U.S. Under the program, businesses are armed with resources and provided technical support to identify the types of green power products that best meet their goals. Since its inception, the Partnership has made notable progress in addressing market barriers to green power procurement.

Through the Partnership, companies can reduce their carbon footprints, increase cost savings, and demonstrate civic leadership, which further drives customer, investor and stakeholder loyalty. Take Colgate-Palmolive for example: as one of the Green Power Partnership’s national top 100, the consumer products giant has generated close to 2 billion kWh of annual green power through wind power alone. This represents 80% of the company’s total electricity use.

Today, hundreds of Partner organizations rely on billions of kWh of green power annually. At the end of 2015, over 1,300 Partners were collectively using more than 30 billion kilowatt-hours (kWh) of green power annually, equivalent to the electricity use of more than three million average American homes.

Pruitt has ratified the belief that we can “grow jobs, grow the economy while being good stewards of the environment”–and he’s right. The renewable energy industry is now outpacing the rest of the U.S. in job creation; which is good news for business and the economy at large. American wind power now supports more than 100,000 jobs—an increase of 32% in just one year—and solar employs more people in U.S. electricity generation than oil, coal and gas combined.

Long-term economics versus short-term politics

We don’t know what will happen in Washington over the next few years. But many businesses are moving forward. Rather than shift course, corporations are increasing investments in clean, reliable power, a move that is consistent with sound business practices.

But business can’t do it alone. The EPA supports responsible companies who have committed to reducing their carbon footprints while safeguarding our planet. It’s time for business to not just leverage their scale and buying power to help accelerate the transition to a clean energy future, but to speak up in favor of maintaining a well-funded agency that continues to make decisions based on sound science and the law.

In his first address to the EPA, Scott Pruitt said, “you can’t lead unless you listen.” Let’s make sure he hears from the businesses that are focused on a future where both the economy and the environment can thrive.

Also posted in Jobs, News, Policy, Setting the Facts Straight| Comments are closed
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