I think this is a great time for our country to shift its economic priorities. Rather than try to lead the world in producing oil, what if we instead focused on leading the world in renewable energy?
With COVID-19 still (rightfully) dominating all news cycles, I’m planning to keep this blog focused on the global health and economic crisis for some time. There are multiple linkages between this crisis and environmental issues though, so that will by my angle. Up first is an exploration of what’s been happening in oil markets recently.
To begin, here’s a retrospective. For the past three-and-a-half years, Saudi Arabia and Russia have been cooperating on oil production. Both have abundant and easy-to-extract oil reserves (Saudi Arabia more so than Russia), allowing them to be two of the top three oil producers in the world. Rather than compete on low-cost oil, the countries have been agreeing to restrict supply, thereby keeping global oil prices higher (in economics terms, a lower supply of oil exerts an upward pressure on the price of oil). The end result is both countries get to sell low-cost oil at higher prices, generating massive profits.
All along, another country was benefiting from those higher global oil prices while outpacing Saudi Arabia and Russia in oil production – the United States. The difference in the U.S. oil production industry is that the oil isn’t so easy to extract here. American production is coming from shale oil, which is abundant in America but much more expensive to extract. Still, with oil prices high, American oil exports have been quite profitable.
The Biomimicry Institute and Ray C. Anderson Foundation are proud to announce the nine finalist teams competing for the 2020 Ray of Hope Prize. These cutting-edge startups are advancing nature-inspired solutions that address a wide range of problems. From eliminating toxic paints and dyes, to providing a new, regenerative approach to marine infrastructure, these game-changing companies are providing a ray of hope in the world today.Read More
Wendell Hadden of Interface, winner of the Ray C. Anderson Sustainability Award has chosen for $2500 to be donated by the Ray C. Anderson Foundation, in his honor, to the University of New Hampshire Sustainability Institute (UNHSI) for its Sustainability Indicator Management and Analysis Platform (SIMAP). Interface has matched the grant, bringing the total donation to $5000.Read More
The NextGen Committee of the Ray C. Anderson Foundation has issued a call for proposals for one $100,000 grant to fund work in the 2021 calendar year for new or existing programs that will help to reduce global warming.Read More
Greenprints 2020 is rescheduled for June 3-4Read More