Fossil Fuels Are Going Away, And Most of the World Knows It

During the seven-mile hike I took yesterday with a friend to the top of Gaviota Peak (pictured) and back, we talked a great deal about the stock market, as my companion is very worried that we could be facing a long period of negative growth.  Here’s my perspective, for what it may be worth:

I’m bearish on the U.S. economy, since I doubt our young people’s fitness to compete in the global marketplace, and I’m extremely disappointed that we don’t seem to understand that renewable energy (and cleantech more generally) is going to play a defining role in the 21st Century.  That being said, the stock market and the American economy are two different things; countries all over the world – both developed and developing — are embracing the reality that fossil fuels are going away.

Every day we come across dozens of stories that underscore the wonderful truth of this proposition.  Here’s an article discussing The Netherlands’ train system: 2.3 million passengers who, by 2018, will be scooted around with 100% renewables.

What can we say about the fact that the oil companies are leading the U.S. around by the nose, while the rest of the world is running 100 MPH in the direction of solutions like these?  I call it “nauseating.”