The plastic industry says it’s a “hero” of the coronavirus pandemic. What is driving this propaganda? Single-use plastic is a big chunk of the future demand for oil forecast by OPEC or by the International Energy Agency and their other friends trying to cook the books. So if you take out single-use plastic, future demand for oil and gas will decline immediately and so will the projected revenues of that entire industry. That, in turn, has all sorts of consequences for the cost of capital of oil and gas companies, which ultimately means that they will be able to do no more new oil and gas exploration. Furthermore, they would have to close down, gradually, what they’re doing now. That’s why the plastic industry is now selling itself as a “hero” of the fight against the coronavirus – and nothing could be further from the truth.
Recently, an open letter from dozens of investors, business leaders, researchers and climate policy advocates accused the International Energy Agency, a Paris-based intergovernmental organization mistakenly labelled as “authoritative”, of marginalizing key climate goals in its research. They were being too polite: The IEA is a very dangerous organization and should simply be closed, because it’s a fossil fuel relic incapable of reform. I’m afraid this podcast is entirely dedicated to explaining why.
The Angry Clean Energy Guy on the incredible resilience of renewable energy in the midst of a pandemic, and why that means its rise will accelerate further post COVID-19; and on the incredible non-resilience of the airline industry, its irresponsible and reckless mis-management and why the earthquake in its midst means it has already seen its carbon emissions peak