Renewables Provide 100% New US Electricity Capacity In April, Oil Industry Shedding Jobs, Investment Community Remains Oblivious

June 9th, 2020 by Steve Hanley, Clean Technica  The Federal Energy Regulatory Commission’s Energy Infrastructure Update for April is out, and it shows that all new electricity generation capacity in the US in April came from renewable sources. Think about that. No new coal, no new natural gas, and no new nuclear. FERC defines renewables as biomass, geothermal, hydropower, solar, and wind. Some would quibble with biomass, which …

Big companies traded on the stock market took two-thirds of the money meant to bail out small businesses. Also 1 in 4 U.S. households are now underbanked or unbanked. We need a public option for basic banking services

It’s Time To Fix The Rusty Pipes Of Our Inequitable Financial System. The COVID-19 pandemic response has shown that the very foundations of our economy are shaky, fragile, and — for some of us — downright dangerous. We’re once again watching working people, especially working people of color, bear the brunt of the fallout. Meanwhile, big companies traded on the …

Why Wall Street Surges as Workers Suffer and Die From Covid-19: AOC says ‘It Starts With a C and Ends With -apitalism’: ‘This is what happens when Wall Street captures Congress and writes themselves bailout check after bailout check as working people die.’

“The mystifying government response that allows a crisis of unemployment and sudden poverty to happen and then refuses to solve it even while doling out trillions of dollars to business is in fact just American capitalism working as we have designed it to.”—Hamilton Nolan, In These Times May 06, 2020 by Common Dreams by Jake Johnson, staff writer Traders, some in …

To actually address the crises we face, let’s focus on displacing the dominant form of enterprise in our current economy: the monoculture of the profit-maximizing, shareholder-controlled corporation

The just firm is the only kind that should ultimately be permitted to exist. The time is coming when society must end the corporation as we know it, in favor of a just firm – designed from the inside out for a new mandate: to serve broad well-being and the public good. Democratic and just forms of company ownership are …

Renewable electricity from solar and wind costs less than electricity from gas and coal, and can be implemented everywhere at huge scale, giving rise to a trillion-dollar energy windfall

A sampling of stories from just the past week: Renewable electricity from solar and wind costs less than electricity from gas and coal, and can be implemented everywhere at huge scale, giving rise to a trillion-dollar energy windfall, according to Inevitable Policy Response, a project of the U.N. Principles for Responsible Investing that aims “to prepare investors for the associated portfolio risks.” Transforming …

A US green investment bank for all: Democratized finance for a just transition

The Next System Project proposes the creation of a democratized US Green Investment Bank (GIB) https://thenextsystem.org/green-investment-bank Thomas Marois and Ali Rıza Güngen, more September 20, 2019 MONEY & BANKINGENVIRONMENT & ENERGY In ways unimaginable just a few years ago, public banking and its potential for catalyzing a transition to a green and just future have been catapulted to the center of political and …

World’s 8th Largest Bank Says the Party Is Over for Oil Companies: ‘We conclude that the economics of oil for gasoline and diesel vehicles versus wind- and solar-powered EVs are now in relentless and irreversible decline, with far-reaching implications for both policymakers and the oil majors’

August 12th, 2019 by Steve Hanley, BNP Paribas Says The Party Is Over For Oil Companies, in Clean Technica Does it seem to you as though the world is poised at the precipice of a major realignment of traditional thinking? A Volkswagen executive this week said electric cars will reach price parity with conventional cars in the near future, something that seemed nearly impossible …

Systemic financial risk

Excerpt “It’s a lot harder to dismiss the idea of systemic risk as ‘some scientist trying to make a buck’ when it’s central bankers who are saying it,” said Jamie Bonham, manager of corporate engagement at NEI Investments, a Toronto firm which manages $7.6 billion for investors. “They’re as conservative a group as you can get, so I do hope …

Now is the time for a World Carbon Bank

The Guardian, July 2019 excerpt It is high time to create a new, focused agency, a World Carbon Bank, that provides a vehicle for advanced economies to coordinate aid and technical transfer, and that is not simultaneously trying to solve every other development problem. Yes, I fully understand that the current US administration is reluctant to fund even existing international …