United Nations Secretary-General António Guterres said that countries must phase out the burning of coal, oil, and gas. He added that the current policies would lead to...
It’s a huge problem, there’s so much more economic and political inertia behind fossil fuels than most people thought existed. Looks like the only way to really balance industry with rapid change is for governments to intervene and to incrementally make fossil fuels unprofitable and then to allow the market to adjust on its own.
Problem is, that adjustment will take time - and we are quickly running out of time.
It’s a huge problem, there’s so much more economic and political inertia behind fossil fuels than most people thought existed. Looks like the only way to really balance industry with rapid change is for governments to intervene and to incrementally make fossil fuels unprofitable and then to allow the market to adjust on its own.
Problem is, that adjustment will take time - and we are quickly running out of time.