Lincoln Journal Star Editorial Board
Increased investment in renewable energy — wind energy, solar power, electric vehicles, etc. — proves that America’s future will involve fewer fossil fuels going forward, a fact underscored by the growing number of financial institutions and other entities that now refuse to invest in the oil and gas industry . . . The grassroots coalition of environmentalists, farmers, ranchers and property-rights advocates who fought the pipeline tooth and nail can celebrate, knowing their efforts weren’t in vain. Read more here.
Additional Recommended Reading
- Canadian Officials React To Biden Revoking Keystone XL Permit, All Things Considered, NPR
- What Is the Keystone XL Pipeline?: How a single pipeline project became the epicenter of an enormous environmental, public health, and civil rights battle, Natural Resources Defense Council
When TC Energy said the pipeline would create nearly 119,000 jobs, a State Department report instead concluded the project would require fewer than 2,000 two-year construction jobs and that the number of jobs would hover around 35 after construction.
The market case, even before the COVID-19 pandemic sent oil prices plummeting, has also deteriorated. Low oil prices and increasing public concern over the climate have led Shell, Exxon, Statoil, and Total to either sell their tar sands assets or write them down. Because of this growing market recognition, major new tar sands projects haven’t moved forward with construction for years, despite investments from the government of Alberta, Canada. For example, in 2020, Teck Resources withdrew its ten-year application to build the largest tar sands mine in history—citing growing concern surrounding climate change in global markets.
Alberta’s Renewable Energy Growth
- Alberta could lead Canada in wind and solar power by 2025, expert says, CBC
Growth in Alberta’s renewable energy sector should continue its upward trend, experts say, with one forecast anticipating a surge of projects that could have the province poised to be the Canadian leader in utility-scale wind and solar capacity as early as 2025.
- Requests for Proposal launched for purchase of clean electricity in Alberta, Public Services and Procurement Canada News Release, Newswire