Okay, everyone, we’ve been crunching the BID numbers to see what’s in this deal and how it’ll impact clean energy and climate. Warning, this is a long 🧵 … 1/
This isn’t #HotFERCSummer (h/t @RepCasten) but the TL;DR verdict - this is the down payment for the US to go big, like really big, on clean energy, climate, and jobs.
Oil companies respond to market trends. Using data from 2020 U.S. Energy & Employment Report we found from 2018 to 2019, clean energy jobs crew by twice the rate of overall job growth in the US. During that same time, fossil fuel jobs fell by 2.6%. usenergyjobs.org 8/
This is not going to happen by corporate action alone. Oil industry still has a LONG way to go. As late as 2018 only 0-5% of capital expenditures in major oil companies went to clean energy. cdp.net/en/investor/se… 9/
Most of these targets will release more detailed strategies and interim targets. As of yet, none have pledged dollar amounts to their plans. 10/
Last night climate got the spotlight. As I told @LFFriedman of @nytimes “This is a playbook that they keep coming back to, and it’s less and less effective. The economy is moving on and the public is moving on.” Here’s a thread w details; nytimes.com/2020/10/23/cli… 1/
@LFFriedman@nytimes Even major oil companies know that oil is on its way out. Increasingly, the world’s biggest oil companies are signaling that they will invest more in clean energy and reduce their emissions. 2/
@LFFriedman@nytimes Shareholders are demanding oil companies to be more ambitious on climate. Oil giants Shell, BP, Repsol and Total have all set targets to be net zero emission companies in all their operations by 2050. 3/
Former opp researcher here ✋🏼. Also worked and researched variety of Presidential and Senate archival records, and worked at Presidential Library. @ASFried gives a good summary of why the @nytimes cal for a review of DE records is absurd. 1/
Its a very time-consuming and delicate process to go through records even when they’ve been properly archived. To review a ton of records that have not would take a very long time to do properly while protecting the documents. 2/
Plus it’s a head-fake. Personnel docs are going to be in the National Archives or Senate records, not personal papers of Biden, so the result would be akin to the bullshit Hillary’s server story. 3/