And 2015 is off with a bang! As the divestment movement takes root, oil and gas companies are being hammered by low oil prices all the while NAFTA’s wagging its finger at the oil sands and solar PV prices are dropping which yield returns that beat most RSPs.
If it’s not Stanford University faculty urging divestment of fossil fuels it’s Mexico and the USA tag-teaming it through NAFTA calling for a closer look into the effects of massive areas of tailings ponds seeping into the heartland of rugged and beautiful Alberta. Of course, Calgarians – like anyone – are enjoying the cheap road trips, but it’s a double edged sword as Shell cuts its workforce by 10% and the falling oil prices threaten to carve an estimated $11billion from Alberta’s provincial coffers if prices stay low. Didn’t this boom bust thing happen in the early 80’s:
We’re at a turning point, where according to Dr. Jeremy Leggett, one large oil company is poised to turn it’s back on fossil fuels faster than police at a NY funeral and jump into renewables with both feet. He goes on to say “One of the oil companies will break ranks and this time it is going to stick,” he said. “The industry is facing plunging commodity prices and soaring costs at risky projects in the Arctic, deepwater Brazil and elsewhere. Oil companies are also realising it is no long morally defensible to ignore the consequences of climate change.” Leggitt even has the Pope on his side with the UN covering his back with a swan song from Ban Ki-moon.
So we raise a glass to you in anticipation of all the good work that will happen in producing near passive homes that won’t have to be renovated in a 100 years. We look forward to growing with you.
All the best in 2015!