Fossil fuel economics – a fairy tale

It is encouraging to hear the World Bank calling for a halt to fossil fuel subsidies and a collective international binding agreement for a zero-carbon world by the end of the century. But how a carbon tax will make this happen remains a big question mark. History has shown us that we cannot rely on big corporations to move away from their old habits and lead the change needed for the better: How BP had invested in low carbon technology for decades just to abandon them for greater economic gains is a typical example.

In the mean time, the fossil fuel industry has been found to be operating dangerously in New Zealand, with over 130 incidents recorded in the last two years while the government continues to push for more drilling. They want us to believe that NZ can get rich on oil like Norway did. But even the Norwegians know: “When we wake up from this oil bubble … we will realise we will never have a fairy tale like this again.”

So let us get off fossil fuels and move on to more sustainable, democratic, decentralised energy systems that benefit communities and the planet. “We need a managed and fair transition, not a massive oil shock which could plunge the already fuel-poor into further hardship and breed economic and social pandemonium. If today’s anti-oil social movements continue to strengthen, this could happen: through pressure from shareholders, the erosion of oil companies’ social licence, the physical disruption of operations by local resistance, the boom in renewable energy, and public pressure on governments to take more decisive climate action”.

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2 Responses to Fossil fuel economics – a fairy tale

  1. Isabelle Aranui says:

    We need to start using natural sustainable options. Solar n wind power innovations have been shelved so the 1% of wealthy drill n mine where and when they want. Fly over Australia and count the number of ex mine sites that are now wastelands. Nothing lives there anymore, the locals are still poor and unemployed or in after shock cos they were used and abused with wilful force. The anti nuke March to the Beehive seems to have been a total waste of time. Is everyone at home that numbed, dumbed or unwilling to fight for this beautiful country of ours or is it too late? Is our Government onside with the devil? Keys seems hellbent on turning our beautiful home into the next wasteland of the world. When they’ve finished they’ll spit him and us out as fast as they sucked us up.

    We have the capacity and brainpower to lead in so many other areas, including natural sustainable options. Ecotourism isn’t a dirty word, it’s the new pot of gold at the end of the rainbow and will last so much longer than drills or mines.

    Why can’t we be the leader and different AND why can’t our homeland remain 100% PURE…

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