Phasing Out Fossil Fuels

Over the coming 15 years or so, the citizens of Earth will experience great change.  From the standpoint of the energy and transportation sectors, that will mean decarbonization, both in our grid-mix and in our automobiles.

The years between 2030 and 2035 are the endpoints that a number of the states here at home and many countries in the EU have designated as the last date at which new gas- and diesel-powered cars can be sold.

The first thing one thinks about here are the implications for climate change mitigation, though the ramifications for the job market are also significant.  As shown above, the bottom is falling out of the oil market, as anyone could have predicted; ExxonMobil common stock (XOM) is trading at less than half of what it was in 2014.

The good news is that electric transportation (as well as the many other subsidiaries under cleantech) holds tremendous potential for hiring.  Note that the Dow is up 600 points so far today on the news of the Georgia run-off.  A Democrat-controlled legislature means a huge boon to environmental responsibility, thus cleantech–and investors are smacking their lips.