The bottom is falling out the fossil fuel industry. The best way to ensure a transition away from oil that helps the people currently employed in the sector might be having the government—not the market—manage it.
Wind and solar companies, facing project delays that threaten their ability to tap lucrative green energy subsidies, are pleading with lawmakers for help after not being included in the $2 trillion U.S. coronavirus stimulus package.
For a clean energy transition that truly safeguards the climate, the country needs moonshot legislation - a bill that would authorize billions of dollars to redirect the economy away from fossil fuels and toward a low-carbon future. Historically, those kinds of bills only happen on the heels of a crisis. The coronavirus pandemic is one of them.
Coronavirus stimulus packages offer an excellent opportunity to ensure that the essential task of building a secure and sustainable energy future doesn't get lost amid the flurry of immediate priorities.