Concord Monitor (N.H.), Dec. 15:
This past weekend’s climate change deal was labeled by world leaders as “historic,” “transformative” and “a victory for the planet.” These may be true. But it really should be framed in terms any good capitalist could appreciate – the agreement represents the biggest business opportunity of a generation.
You’d imagine the vision of dollars up for grabs would speak to Republicans on the campaign trail. Instead, we got a collective, “meh.”
Perhaps that’s not surprising given that the agreement between nearly 200 nations to set a temperature based cap for our planet is seen as a victory for the Obama administration. But maybe this deal could allow Republicans to shift their perspective. Maybe, just maybe, it could even allow the party to lead on the issue. That is, if they can get past the dogmatic denial of man-made climate change.
The moral argument for curbing greenhouses gases is compelling enough. But that holds little sway with a party that prides itself as the defender of business. Republicans would be wise to see this deal as a clear signal that world sentiment has shifted. The weekend’s agreement is short on details and vague on enforcement. In fact, it still needs to be ratified. What it told us, though, is unambiguous. The world sees its energy future powered by our vast but mostly untapped renewable sources. Fossil fuels, the world is saying, will barely be in the picture over the second half of this century.
If America wants to ensure its global economic dominance, it won’t do so by being a buyer of energy. It’ll do so by leading the effort. Yes, that means transitioning our own power sources to things like solar, wind, hydro and biofuels. It also means a significant increase in government-funded research and development. It requires that our legislators come up with stable, long-term policies that drive innovation and new installations. More than anything, it means the U.S. needs to take the lead in renewable manufacturing by building a network of solar and wind supply chains on our shores, rather than ceding that sector to countries like China. (Those in New Hampshire should allow themselves to envision a local supply chain tied to the massive potential of offshore energy along much of the East Coast.)
The world will eventually shift to renewables, not because it’s the right thing to do, or because climate change threatens our way of life. The world will shift to renewables because they’ll be the cheaper, safer, more sustainable option. When that day comes, America needs to be the industry leader – and not the lone country hanging onto its fossil-fueled past.
Building America’s next great industry will require the type of bipartisanship that’s been invisible in recent years. We didn’t see any hopeful signs this past weekend.
Instead, we heard from Republican ringleaders like Sens. Mitch McConnell of Kentucky and James Inhofe of Oklahoma indicating that any deal reached by the United States could be “shredded” by January 2017 if a Republican is elected president.
That’s predictable political posturing as the presidential primaries near. But threatening to dismantle the global deal has far bigger implications at home, too. That approach could stunt renewable energy investment in America, pushing venture capitalists and large corporations to set up shop elsewhere as the global race to become the leader in renewable energy manufacturing intensifies.
Talk about a bad move for business.
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