Standard Oil Refinery No. 1 in Cleveland, Ohio, 1889
One of the biggest banks in the Middle East and the oil-rich Gulf countries says that fossil fuels can no longer compete with solar technologies on price, and says the vast bulk of the $US48 trillion needed to meet global power demand over the next two decades will come from renewables.
The report from the National Bank of Abu Dhabi says that while oil and gas has underpinned almost all energy investments until now, future investment will be almost entirely in renewable energy sources.
The report is important because the Gulf region, the Middle East and North Africa will need to add another 170GW of electricity in the next decade, and the major financiers recognise that the cheapest and most effective way to go is through solar and wind. It also highlights how even the biggest financial institutions in the Gulf…
He backed the full legalization of abortion and the repeal of laws that criminalized drug use, prostitution and homosexuality. He attacked campaign donation limits and assailed the Republican star Ronald Reagan as a hypocrite who represented “no change whatsoever from Jimmy Carter and the Democrats.”
It was 1980, and the candidate was David H. Koch, a 40-year-old bachelor living in a rent-stabilized apartment in New York City. Mr. Koch, the vice-presidential nominee for the Libertarian Party, and his older brother Charles, one of the party’s leading funders, were mounting a long-shot assault on the fracturing American political establishment.
The Kochs had invested hundreds of thousands of dollars in the burgeoning libertarian movement. In the waning days of the 1970s, in the wake of Watergate, Vietnam and a counterculture challenging traditional social mores, they set out to test just how many Americans would embrace what was then a radical brand of politics.
It was the first and only bid for high office by a Koch family member. But much of what occurred in that quixotic campaign shaped what the Kochs have become today — a formidable political and ideological force determined to remake American politics, driven by opposition to government power and hostility to restrictions on money in campaigns.
The Koch brothers and large utilities have allied to reverse state policies that favor renewable energy. Environmentalists are pushing back, but the fight is spreading and intensifying.
WASHINGTON — The political attack ad that ran recently in Arizona had some familiar hallmarks of the genre, including a greedy villain who hogged sweets for himself and made children cry.
But the bad guy, in this case, wasn’t a fat-cat lobbyist or someone’s political opponent.
He was a solar-energy consumer.
Solar, once almost universally regarded as a virtuous, if perhaps over-hyped, energy alternative, has now grown big enough to have enemies.
The Koch brothers, anti-tax activist Grover Norquist and some of the nation’s largest power companies have backed efforts in recent months to roll back state policies that favor green energy. The conservative luminaries have pushed campaigns in Kansas, North Carolina and Arizona, with the battle rapidly spreading to other states.
Alarmed environmentalists and their allies in the solar industry have fought back, battling the other side to a draw so far. Both sides say the fight is growing more intense as new states, including Ohio, South Carolina and Washington, enter the fray.
At the nub of the dispute are two policies found in dozens of states. One requires utilities to get a certain share of power from renewable sources. The other, known as net metering, guarantees homeowners or businesses with solar panels on their roofs the right to sell any excess electricity back into the power grid at attractive rates.
Net metering forms the linchpin of the solar-energy business model. Without it, firms say, solar power would be prohibitively expensive.