The New Energy Order is being established as we speak. Significant political, health, spiritual, legal, and technology forces are at play driving change to decrease the dependency on fossil fuels. There is no doubt that this movement had significant headway prior to the COVID-19 pandemic, but the virus’ impact on all facets of life across the globe has put greater focus on an “environment and community first” mindset.
In June 2020, the United Kingdom became the first major economy to pass legislation that reduces greenhouse gas (GHG) emissions to net zero by 2050. Per Chris Skidmore, Minister Energy and Clean Growth Minister:
“The UK kick-started the Industrial Revolution, which was responsible for economic growth across the globe but also for increasing emissions.
Today we’re leading the world yet again in becoming the first major economy to pass new laws to reduce emissions to net zero by 2050 while remaining committed to growing the economy - putting clean growth at the heart of our modern Industrial Strategy.
We’re pioneering the way for other countries to follow in our footsteps driving prosperity by seizing the economic opportunities of becoming a greener economy.”
Leading banking and investment funds like JPM Chase, Deutsche Bank, BlackRock and the Norway Wealth Fund are making sweeping changes to eliminate their fossil fuel positions while also increasing investment in the clean energy sector. This is occurring at the same time that Big Oil is taking historic write downs on the value of their fossil fuel assets due to decreased oil demand and lower commodity value. Last but not least, the Vatican urged Catholics to drop investment in fossil fuels immediately, among other things. Over 40 other faith organizations have followed.
From a litigation standpoint, recent separate court rulings against the Atlantic Coast natural gas pipeline, Keystone XL pipeline, and the Dakota Access pipeline were major blows to each of these efforts. Accordingly, future fossil fuel-based infrastructure projects may face delays against profitability. Thus, lower carbon (greener) infrastructure options provide a lower risk of opposition, which in turn gives greater chances for profitability.
This change in energy philosophy (order) is evident by the emerging focus on investment in clean hydrogen. Hydrogen offers multiple uses as a feedstock, fuel, energy carrier, or energy storage across multiple sectors. But more importantly, hydrogen does not emit CO2 and does not pollute the air. For over four decades, the prospect of hydrogen was not enough to overcome technological and cost barriers. Now, even during the COVID-19 pandemic, hydrogen projects are going mainstream with visibility to becoming a globally traded energy source.
Fortunately, SynSel fully complements this New Energy Order including a strong emphasis on clean hydrogen, and it does this while delivering a synthetic fuel solution that leverages existing transportation infrastructure. With over 1 billion internal combustion engines on the road today, the SynSel solution will fuel these vehicles for years to come with a significantly cleaner emission profile. SynSel’s Biofuel Revolution is part of The New Energy Order.