Extracting CO2 from air is the best way to reverse global warming without resorting to expensive technologies, convoluted tax schemes or preventing billions from getting sufficient energy. If you then make gasoline from it, then you’d kill two birds with one stone. That stone is Carbon Engineering.
A new International Monetary Fund (IMF) study shows that USD$5.2 trillion was spent globally on fossil fuel subsidies in 2017. The equivalent of over 6.5% of global GDP of that year, it also represented a half-trillion dollar increase since 2015 when China ($1.4 trillion), the United States ($649 billion) and Russia ($551 billion) were the largest subsidizers.
Ostensibly, for the past ten years, our economy has been recovering from the 2008 collapse. During the past few years, our comeback seems to have gained momentum. All the official indicators say we’re back in boom times, with a bull market, low unemployment and steady job growth. But there is an alternative set of data that depicts a different America, where the overlooked majority struggles from month to month.
In the United States, more people were employed in solar power last year than in generating electricity through coal, gas and oil energy combined. According to a new report from the U.S. Department of Energy, solar power employed 43 percent of the Electric Power Generation sector's workforce in 2016, while fossil fuels combined accounted for just 22 percent.
Capitalism has generated massive wealth for some, but it’s devastated the planet and has failed to improve human well-being at scale. Species are going extinct at a rate 1,000 times faster than that of the natural rate over the previous 65 million years
Since the late 1970s, labor productivity in the U.S. has risen 259 percent. If the fruits of that productivity had been distributed according to the post-World War II shared prosperity social contract the average person’s income would be more than double what it is today. The actual change? Median income adjusted for inflation is lower today than it was in 1974. A staggering 40 percent of all Americans now make less than the 1968 minimum wage, adjusted for inflation. Median middle-class wealth is plummeting. It is now 36 percent below what it was in 2000.