Wednesday
May 13
2020

Viewpoint: COVID-19 Could Spark A Renewable Energy Boom

By Nick Cunningham

There is a growing acceptance that the prospect of a V-shaped recovery is unrealistic. “A couple months ago I was optimistic, I was hopeful, that maybe we would have a ‘V’-shaped recovery – shut things down, clamp down on the virus, and then have a quick recovery,” Minneapolis Federal Reserve Bank President Neel Kashkari said in an interview on the PBS Newshour. But Kashkari now says that “we are in for unfortunately a slow, long recovery,” characterized by “devastating” job losses.

The world finds itself at a crossroads. The coronavirus pandemic has ravaged the global economy, leading to massive (and growing) unemployment.

At the same time, the climate problem is not going away. Last month was tied for the warmest April on record globally, and 2020 is on track to be the warmest year ever. Larger and more frequent natural disasters are increasingly likely to happen.

Photo courtesy of andreas160578.

Source: OilPrice.com (link opens in a new window)

Categories
Coronavirus, Energy
Tags
coronavirus, renewable energy