President Biden’s Climate agenda is going to change many things

The change of president in the USA has supposed (everything seems to indicate it) a change of 180º in the North American environmental policy, that finally agrees with the one of the majority of the countries and is going to have deep repercussions in the whole world.

Appointing John Kerry at the forefront of issues related to climate change in the USA is a very positive point, since it was he who negotiated the 2015 Paris Agreement on the North American side, and will continue to promote US efforts in that direction. .

Mr. Kerry never tires of repeating that if it is necessary to invest, the smart thing is to do it in clean energies, in the works related to these technologies, and in general in the technologies of the future and not be slaves of the past. And oil for investors is the past.

It seems that in the USA they will continue to use the fracking method to obtain oil, but with stricter restrictions to avoid the contamination it generates. They will do everything to have cheap oil while they can.

Also important is Mr. Biden’s statement of eliminating fossil fuel subsidies and speeding up the approval of renewable energy projects as much as possible with the goal of doubling wind energy production by 2030 and achieving that the electricity generation is carbon neutral by 2035.

And from what I read, all the big companies are lining up in that direction. General Motors has recently announced its intention to only produce electric cars by 2035, which will be a total turnaround to its current business.

I am glad to read this kind of news and hopefully this year’s meeting on Climate Change (in Glasgow in November) will provide the definitive boost to international engagement. That by the way is not easy, because it is one thing to have the intention of … and quite another thing to achieve it.

But the intentions are essential to achieve the objectives.

And as another sign that things are changing, there are already some large Pension Funds (like the Norwegian one) that have come out of all the investments they had in businesses related to fossil fuels. And many other funds will follow that path.

That is not to say that fossil fuel businesses will not be profitable in the coming years, but it is clear that they do not have a good future.

In the coming years, the energy issue and all the technologies related to it will be one of the issues that will most influence and that in some way will shape the society of the future.

Hopefully in Europe (and Spain) we take advantage of the opportunity that is presented to us, because it will take a long time to repeat itself.