DeepSummary
The Energy Gang podcast discusses the rise of the 'Big Green' clean energy industry to rival the scale of 'Big Oil'. Amy Harder recounts her experience at the Cleanpower 2023 event, which showcased the booming clean energy business landscape. Amy Myers Jaffe notes that the divide between high-carbon and low-carbon energy industries is narrowing, with fossil fuel companies investing in clean energy technologies.
The episode analyzes the potential impact of recent permitting reforms in the US, which aim to streamline infrastructure projects for renewable energy as well as oil and gas. The G7 summit in Hiroshima is discussed, where leaders reiterated commitments to phase out fossil fuels while acknowledging the need for increased gas production to replace Russian supplies.
The podcast also explores the challenges faced by alternative protein companies like Impossible Foods and Beyond Meat, which have been cutting jobs and facing declining sales. The potential climate benefits of reducing emissions from beef production are examined, and the role of changing diets in climate strategy is considered.
Key Episodes Takeaways
- The 'Big Green' clean energy industry has grown to rival the scale of the traditional 'Big Oil' industry, with increasing investment and business opportunities.
- The divide between fossil fuel and clean energy companies is narrowing, with fossil fuel companies investing in clean energy technologies and forming partnerships with clean tech firms.
- US permitting reforms aim to streamline infrastructure projects for both renewable energy and oil and gas, reflecting the complex intersections between these industries.
- The G7 summit in Hiroshima acknowledged the need to phase out fossil fuels while also recognizing the role of increased gas production to replace Russian supplies, highlighting the challenges of the energy transition.
- Alternative protein companies like Impossible Foods and Beyond Meat are facing challenges in changing consumer dietary habits, despite the potential climate benefits of reducing emissions from beef production.
- Changing diets, including reducing meat consumption and increasing plant-based options, could play a significant role in mitigating emissions from the agricultural sector and addressing climate change.
- Establishing shared best practices for sustainable agriculture and land use is crucial for effectively addressing climate change, particularly in developing countries.
- Collaboration and communication between different stakeholders, such as environmentalists, fossil fuel executives, and policymakers, is essential for finding effective solutions to address climate change.
Top Episodes Quotes
- “I think ultimately I do land where you are as well, Ed, but there's a lot of changes. I did a column once saying we have to bend capitalism to work better, to work for climate change instead of against.“ by Amy Harder
- “If we could get to a common understanding of what are best practices for agriculture and for land use, we do.“ by Amy Myers Jaffe
- “So here's a statistic that I think should be mindful. Maybe the United States would be the last place that'll move to this. But Outback steakhouse in Brazil. The chain has added a broccoli cauliflower burger option in Brazil, and that is because so many people have turned vegan.“ by Amy Myers Jaffe
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Episode Information
The Energy Gang
Wood Mackenzie
6/2/23
More money will be invested this year in the solar industry than in oil production.
So said Faith Birol, executive director of the International Energy Agency, last week. Amy Harder, executive editor of Cipher, attended the Cleanpower 2023 event in New Orleans and experienced at first-hand what it means for the Big Green energy industry to be rivalling the scale of Big Oil. The event has been dubbed the ‘Coachella of clean energy’ and as Amy recounts walking the half-mile long hall, full of clean energy businesses looking to capitalise on the booming industry, that comparison certainly seems appropriate.
Amy Myers Jaffe, director of NYU’s Center for Global Affairs, is also on the show this week. She says that what was once seen as a huge divide between the high-carbon and low-carbon energy industries is now being bridged. But she argues there is still an important role for governments in supporting the growth of newer energy technologies that would otherwise find it too difficult to break into markets dominated by old energy incumbents.
After discussing how the emergence of the Big Green industry relates to US permitting reforms that could affect all energy infrastructure projects, the gang turn their attention to the G7. The recent summit in Hiroshima included some important discussions of the climate and energy, with world leaders repeating their commitments to accelerating the phase-out of fossil fuels, but also acknowledging the case for increased gas production to replace Russian supplies.
Finally, whatever happened to alternative protein? Impossible Foods, Beyond Meat and some of the other companies in the sector have been cutting jobs. Beyond Meat’s share price, which peaked at about $235 in the summer of 2019, is about $10 this week. Impossible Foods has been talking about an IPO, but now says it is not going to happen this year. It’s clear that if you can cut the emissions from food production, and from beef in particular, the climate benefits could be huge. Should changing diets play a bigger role in climate strategy?
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