Boring work of staggering effectiveness

Right along the lines of super unexciting infrastructure fixes to crucial bridges, railways, pipes and water mains is the capping of methane-spewing oil wells, of which we have a leaky and abundant surplus:

Curtis Shuck calls the well a “super emitter,” one of many in a wheat field not far from the Canadian border, a part of Montana known as the “golden triangle” for its bountiful crops. Aside from the scattered rusty pipes and junked oil tanks, the field is splendid and vast, its horizon interrupted intermittently by power lines and grain bins. On these plains, Shuck says, you can watch your dog run away for a week.

He is a former oil and gas executive who nowadays leads a small nonprofit — the result of a personal epiphany — and is tackling global warming one well at a time. That is the approach of his Well Done Foundation, plugging this and then other orphaned sites and trapping the methane underground. The effort started in Montana in 2019 but will expand to other states before the fall.

“When we’re done, it will be like this well was never here,” Shuck said, standing upwind as cement was pumped hundreds of feet down, through a series of pipes stuck in the 7½-inch-wide hole like a straw in a juice box.

30K to cap a well. Well done, Well Done. Plant trees, install solar farms, wind farms, stop dumping sewage, limit runoff, cut back on steaks (sorry! but do), refurbish the train lines, live close to work. Listen to ‘Trane while you walk. Live a little.

What’s it going to take? All of it, every last all of it. Everything.

Image: Abandoned oil storage tanks left behind in Montana. (Adrián Sanchez-Gonzalez for The Washington Post)

Clean up on Line 3

Because Line 3 is a crude oil pipeline, and pipelines leak because that’s what they do. McKibben, via LGM:

It’s easy to forget now how unlikely the Keystone fight really was. Indigenous activists and Midwest ranchers along the pipeline route kicked off the opposition. When it went national, 10 years ago this summer, with mass arrests outside the White House, pundits scoffed. More than 90 percent of Capitol Hill “insiders” polled by The National Journal said the company would get its permit.

But the more than 1,200 people who were arrested in that protest helped galvanize a nationwide — even worldwide — movement that placed President Barack Obama under unrelenting pressure. Within a few months he’d paused the approval process, and in 2015 he killed the pipeline, deciding that it didn’t meet his climate test.

“America’s now a global leader when it comes to taking serious action to fight climate change,” Mr. Obama said. “And frankly, approving this project would have undercut that global leadership. And that’s the biggest risk we face — not acting.”

And that’s what puts the Biden administration in an impossible place now. Enbridge wants to replace Line 3, which runs from Canada’s tar sands deposits in Alberta across Minnesota to Superior, Wis., with a pipeline that follows a new route and would carry twice as much crude. It would carry almost as much of the same heavy crude oil as planned for the Keystone XL pipeline — crude that is among the most carbon-heavy petroleum on the planet.

An environmental cause that is really an economic question. The slim chance of recouping the cost of building the pipeline before crude oil usage decline makes it no longer viable builds a strong case against pipeline, maybe even stronger than it leaking – which it WILL do, because…
Not easy, but becoming more clear as the science gets tangled with economics, in a good way!

Battery Plants

Saw a friend yesterday whose water business took a tumble thanks to the plague shutting down business offices in our small burg. And though that sounds like the plot for another episode of ‘Your Dystopia,’ he said things were looking up, thanks to a new battery plant opening up outside of an even smaller burg a half hour away. Fossil fuels are not ending, but largely over, we agreed. Electric vehicles are very much the present, I may have said, sitting in a late-model guzzler. My water friend went back to his not-so-late model pickup, but the battery plants hung in the air a little longer, walled gardens of Babylon, with added strife and wi-fi.

What if battery plants were literal? Plants are already perfect energy storage dynamos – we just don’t know how they do it. We understand, but it’s still largely alchemical to us. I looked it up:

Imagine if farmers could grow batteries in their fields. Researchers are taking steps towards at least partially making that green dream a reality by using plant materials to make key components of energy storage devices. Pen-Chi Chiang and colleagues at the National Taiwan University review developments in this adventurous ambition in the journal Materials Today Energy.

“We consider the state-of-the-art challenges and issues for using plant-derived biomass materials for various energy storage applications, such as batteries and supercapacitors,” says Chiang.

Energy storage is an essential requirement for modern life. Without it, we couldn’t have cellphones, laptops, or electric vehicles. From consumer electronics to transportation, electrical energy must be stored and be available at the flick of a switch. Current systems, such as the lithium-ion batteries common in many devices, are made from limited resources, and bring environmental problems associated with their disposal.

Chiang points out that a sustainable future will increasingly depend on replacing existing technologies with those using renewable materials that can readily be recycled without damaging the environment.

One of the most promising approaches towards sustainable energy storage devices is to convert plant biomass into a material called “porous carbon”. This is a form of carbon that can be fabricated into three-dimensional ordered “nanostructures” with a variety of useful electrochemical properties.

I guess nanostructures are going to be our best tickets to being able to produce the capacities of plant lignin. It’s the inverse of why biomass is so hard to breakdown, in efforts tap its energy by making fuel. Seems a folly when you think about it like that. Instead of making fuel, figure how they work as batteries – which we seem to already grasp.

As is so often the case, a matter of which word we emphasize. Thinking big does not have to only mean going to Mars. Maybe if ‘Native American’ were two of the words represented by NASA, we might have already figured this out, not to mention a few other things.

On Divestment

When that thing that people may be afraid might happen is already happening, only change the ‘thing’ to ‘investing in dirty energy’ and the fear to ‘you can still make money on your money if you stop.’ The world’s largest investment house reports on tomorrow, today – pulling your money out of fossil fuels already turns a profit:

In places, BlackRock’s findings are redacted, so as not to show the size of particular holdings, but the conclusions are clear: after examining “divestment actions by hundreds of funds worldwide,” the BlackRock analysts concluded that the portfolios “experienced no negative financial impacts from divesting from fossil fuels. In fact, they found evidence of modest improvement in fund return.” The report’s executive summary states that “no investors found negative performance from divestment; rather, neutral to positive results.” In the conclusion to the report, the BlackRock team used a phrase beloved by investors: divested portfolios “outperformed their benchmarks.”

In a statement, the investment firm downplayed that language, saying, “BlackRock did not make a recommendation for TRS to divest from fossil fuel reserves. The research was meant to help TRS determine a path forward to meet their stated divestment goals.” But Tom Sanzillo—I.E.E.F.A.’s director of financial analysis, and a former New York State first deputy comptroller who oversaw a hundred-and-fifty-billion-dollar pension fund—said in an interview that BlackRock’s findings were clear. “Any investment fund looking to protect itself against losses from coal, oil, and gas companies now has the largest investment house in the world showing them why, how, and when to protect themselves, the economy, and the planet.” In short, the financial debate about divestment is as settled as the ethical one—you shouldn’t try to profit off the end of the world and, in any event, you won’t.

If the ‘masters of the Universe’ are already running for cover, the debate basically devolves to ‘you’re not the boss of me.’ Rising tides and disappearing oysters beg to differ.

Front Foot

Stay on it.

White House officials are preparing to present President Biden with a roughly $3 trillion infrastructure and jobs package that includes high-profile domestic policy priorities such as free community college and universal prekindergarten, according to three people familiar with internal discussions.
After completing the $1.9 trillion coronavirus relief package this month, Biden administration officials are piecing together the next major legislative priority. Although no final announcement has been made, the White House is expected to push a multitrillion-dollar jobs and infrastructure plan as the centerpiece of the president’s “Build Back Better” agenda.

This will do multiple things, with hundreds of billions of dollars to repair roads, bridges, sewers, waterways and railways, as well retrofitting thousands of schools and other buildings, the bill also includes $400 billion to combat climate change, with $$$ for transit, and importantly, R & D. And this isn’t pouring money into nowhere – people will have to do that building, digging, measuring, research. So… jobs. Yes, boring and crucial.

And Republicans will fight it because of reasons. Let them. Make them. Remember: no tax cuts, especially the most recent ones, have ever been paid for. And the bugaboo of inflation will be what they betting on to argue against infrastructure investment. Let them explain. From the back foot.

Taking the Slow Boat

photo of crowds on a beach

People sunbathe at Levante Beach on July 22, 2015 in Benidorm, Spain. Photographer: David Ramos/Getty Images Europe

This being Amurrika and all, I started linking to the business press a little more regularly sometime ago, to be aware of how the world looks to those who see everything through the prism of money. Bloomberg Green has some good reporters and this digression on Mass Tourism’s Carbon Impact is valuable:

a model built by and for the masses, one that thrives on low-cost flights, all-inclusive hotel resorts, giant buffets and endless sangria. Spain, the world’s No. 2 destination with 83.7 million visitors in 2019, is a magnet for mass tourism (it’s no coincidence that package tours were invented not far from where I was standing). In total, the industry flew, accommodated, fed and entertained a good chunk of the world’s 1.5 billion tourists last year.

Globally, it was a booming sector before the pandemic, growing at about 4% every year, employing 10% of the world’s workers and representing 10% of global gross domestic product. The enormous cruise ships, fossil fuel-powered planes and the hotels in remote, water-scarce locations make it incredibly carbon intensive too. Total footprint is estimated at around 8% of overall human emissions.

The sector’s climate record before the pandemic was already discouraging. Efforts to lower the carbon footprint have mostly been limited to climate neutrality pledges and headline-grabbing small steps like eliminating mini-shampoo bottles, replacing plastic straws with paper ones and serving sustainable food on flights.

Just calculating the impact is hard. Any serious account should include carbon emitted directly from tourism activities, but also from the whole supply chain, also known as Scope 3 emissions. That would involve food, accommodation, transport, fuel and shopping.

Scope 3 emissions are an important benchmark, and we should be aware of how to think about carbon footprint. As for global travel, I have been an active participant for more than twenty years. I remember at one point looking into the cost/feasibility of traveling to Europe by ship instead of plane for a completely different set of reasons. Considering it again, it still makes sense – and is completely unaffordable vs. comparable flights. The reality of mass tourism is a conundrum – yes, people need to travel, to expand their mindfulness of and about the world. Yes, small communities without other industries need viable economic lifelines. Yes, it creates an environmental disaster in more ways than ten.

Things Fall Apart. Look at the photo up top. Look at what has become of Venice. Without factoring in the true costs of these experiences – cruise ships, quick trips, cheap tour packages – the viability of these this places and practices have already fallen into great peril. They are at risk, even as they continue unchanged. The cruise ship industry is revving their engines, despite the inherent contradictions of scale. We need to re-think broadly. Disperse the destinations. Stay longer, take longer to get there. Yes, it costs more. These experiences already costs more than we think.

Powering Down

Necessarily ambitious climate targets to meet the Paris Agreement goals earlier must actually be designed to surpass them. As we’ve said often these efforts are results of broad collective action, by governments:

The centerpiece of Leonore Gewessler’s plan is a radical revamp of Austria’s public transportation networks, giving residents nationwide access to buses, trains and subways for a flat yearly fee that works out at 3 euros ($3.38) a day, encouraging citizens to leave their cars at home. Austria’s minister for climate, energy and transportation policy, is drafting new laws that’ll redistribute billions of euros toward more ecologically-friendly activities in the euro area’s sixth biggest economy.

“That’s the project that is very dear to my heart,” said Gewessler in her first interview in her ministry since the outbreak of the Covid-19 pandemic. Road traffic remains a “key concern” for Austria to meet its goal of reaching climate neutrality by 2040—a decade earlier than the target set by the European Union.

Note when this is happening – now. Even and especially during the pandemic. The localities we’ve heard about where streets have been restricted to pedestrian-only traffic requires another couple of steps to complete the process. Paired with (cheap!) alternative transportation options, this will seem like another thing we just had to do. (Narrator: Because. It. Is.)

Image via the Milwaukee Journal Sentinel

Green Swan

Whatever the phenomenon is called, the broad effect of the slowdown in the face of the current pandemic demonstrates a version of the combined efforts needed to address climate change:

The United States is on track to produce more electricity this year from renewable power than from coal for the first time on record, new government projections show, a transformation partly driven by the coronavirus pandemic, with profound implications in the fight against climate change.

It is a milestone that seemed all but unthinkable a decade ago, when coal was so dominant that it provided nearly half the nation’s electricity. And it comes despite the Trump administration’s three-year push to try to revive the ailing industry by weakening pollution rules on coal-burning power plants.

Those efforts, however, failed to halt the powerful economic forces that have led electric utilities to retire hundreds of aging coal plants since 2010 and run their remaining plants less frequently. The cost of building large wind farms has declined more than 40 percent in that time, while solar costs have dropped more than 80 percent. And the price of natural gas, a cleaner-burning alternative to coal, has fallen to historic lows as a result of the fracking boom.

Now the coronavirus outbreak is pushing coal producers into their deepest crisis yet.

As factories, retailers, restaurants and office buildings have shut down nationwide to slow the spread of the coronavirus, demand for electricity has fallen sharply. And, because coal plants often cost more to operate than gas plants or renewables, many utilities are cutting back on coal power first in response.

We can acknowledge this without cheering or crowing. The U.S. has been dragging our feet on everything climate-related, saying through official policy and propagandistic news sources alike that any reductions in energy use or shifts in methods of production was impossible. Belittling every international effort to spite progress has made us the pariah state envisioned on and indeed championed by the right. And now it is happening anyway, through a combination of forces, some truly awful – others, like coal becoming obsolete, by their very own economic reality. A combination of tactics will be required to mitigate the worst effects of climate change, it would be great if one of them didn’t have to be a plague.

Image: painting by Anna Lubchik

[Night on] Earth Day

Let’s just take a look back at this little episode, shall we? Yes, we shall:

A massive deepwater oil spill is nearly as likely today as it was in 2010, experts warn, 10 years after the disastrous explosion of BP’s rig in the Gulf of Mexico that caused an environmental catastrophe.

The blowout killed 11 workers and spewed 4m barrels of petroleum into the ocean for 87 days before it could be capped, devastating marine life and polluting 1,300 miles of shoreline. Thousands were put out of work in oil, fisheries and tourism.

But experts say an incident of similar scale could happen again and has been made more likely by the Trump administration’s decision to loosen Obama-era safety rules. Those standards had grown from an independent commission’s damning findings of corporate and regulatory failures leading up to the spill.

Frances Ulmer, who served on the commission and is a visiting fellow at Harvard’s Kennedy School, said the government and industry have not made sufficient changes to prevent or respond to another mammoth spill.

Sufficient changes. Just what might those those be? It isn’t me walking to work (I do), or building a solar charging station for the car (we are). Those things are those things and they make my life better as they ease some pollution in my local community. But they’re not going to save anything – only collective action will do that. Governments working together to re-assert control that has been systematically ceded to corporations for the purpose of pillage and profit. Reigning in the unaccountable and including the costs of externalities in the price of everything we can buy are the things that will begin make a difference. The reduced economic activity of the past six weeks should give us a little hint of what is required if we had to cram for the test. If we [all] decided to start studying a little everyday, it would mean different political leaders, building codes, transportation alternatives, land development regulations, and prices than the ones we have today. How many of these are possible in the near term?

There’s an election in November.

Image: A man lays oil-absorbent boom as oil from the Deepwater Horizon oil spill impacts Cat Island in Barataria Bay, Louisiana, in 2010.
Photograph: Gerald Herbert/AP

Making money from the Greening

We’re mostly still just trying to do that, as if there’s a first, as if THAT’s the opportunity:

Sustainable investing is one of the hottest trends on Wall Street. Trillions of dollars are rushing in as consulting firms and private foundations spread the gospel. But no one is entirely sure what ESG is beyond the literal (environmental, social and governance) or exactly how to define it. Metrics are self-reported and often hard to measure, tracking everything from carbon emissions to boardroom diversity. Greenwashing is a perennial concern.

Profits, however, are very much measurable. Bloomberg’s fourth annual ranking found that the biggest ESG funds are beating the market. If you do happen to have $1 million to spare and a soft spot for the future of planet Earth, here are some investment ideas for you. How does the intersection of AI, blockchain and climate sound?

We also reported this week on emerging technology such as carbon capture, and less environmentally damaging rocket launches. While not as sexy as spaceships, dirt is also important to the future health of the planet. Global agriculture has come to rely on annual crops and heavy fertilizer use, which inhibit soil’s ability to sequester carbon

So we’ll call it ESG or whatever, and we do. Predictions about how this will affect THAT, about where to place your future-of-energy bets is till going to lead to many near-term flareups and dead-ends. Reckoning with the ultimate dead-end may not be appealing, prospectus-wise, but acknowledging that we’re doing it anyway, that doing it the old way got us right to here, is the thing we will always still need to do until we do it.

Waiting. Adaptability Funds are going to scare the investor class for about one-half of a news cycle.