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In a historic move, Vermont has become the first US state to pass a law that makes major fossil fuel companies financially responsible for climatechange damages.
OPEC says that $10 trillion worth of investment will need to flow into oil and gas through 2040 in order to meet the world’s energy needs. The OPEC published its World Oil Outlook 2015 (WOO) in late December, which struck a much more pessimistic note on the state of oil markets than in the past. mb/d between 2020 and 2025, 3.3
Photo: Vermont Agency of Transportation Vermont is now offering its residents up to $6,000 in incentives to replace their flood-damaged, scrapped cars with EVs. M]y team [and I] are doing everything we can to give immediate relief to Vermonters as we continue to assess and respond to the needs,” Scott said. Get started here.
In addition, although many experts say that the solution to our energy and climate problems is sending the correct price signals to industry and consumers, the transport sector’s behavior is highly inelastic in that it does not change significantly in response to changes in fuel prices, at least in the range that is politically acceptable.
Oil and gas companies have had a tough time over the past year trying to weather the storm of falling oil prices. Drilling oil and gas wells requires a lot of money. For companies that have seen their revenues vanish because of collapsing oil prices, access to credit is obviously critically important. billion in 2014.
Environmentalists and industries resurrected the idea in recent years as a centerpiece of measures to address global warming and growing oil imports. Markey of Massachusetts, both Democrats, built their climatechange bill last year in large measure around it. Representatives Henry A. Waxman of California and Edward J.
Under this scenario, the estimated total health and climatechange costs associated with passenger vehicle fleet pollution drops from to $37 billion annually to $15.7 Relying almost exclusively on oil for transportation hurts our air, our health, and our environment. Vermont: $347 million. billion by 2050. New Jersey: $4.6
Everyone wants to save money on fuel and health costs, and fighting climatechange and saving lives sure is a big benefit too. They could have been better, but after lobbying from the auto and oil industries, those regulations were softened compared to the original proposal.
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