As Utah's energy sector continues to struggle in the new coronavirus pandemic, a new report outlines how policymakers can diversify states' revenue streams and begin phasing out reliance on fossil fuels.
The study, from the Stockholm Environment Institute, states the effects of climate change will inevitably force countries to move away from carbon-based sources of energy. Report co-author and institute Senior Scientist Sivan Kartha said the process of phasing out fossil fuels may be necessary, but doesn't have to be chaotic.
"States like Utah and Wyoming, Colorado, thankfully have fantastic resources as far as tourism," said Kartha. "And there are other industries that are currently thriving in those states, but not at the scale that oil and gas is."
Kartha said oil, gas and coal workers must be at the center of any transition to a clean-energy economy. As of three years ago - the latest figures available for Utah - the energy industry supported more than 76,000 jobs and contributed $9.4 billion to the state's GDP.
The report stated wealthy countries need to take the lead in managing the phase-out. Kartha said otherwise, poorer oil-dependent nations won't participate in what must ultimately be a global effort.
"If we leave people just to fend for themselves," said Kartha, "whether they're in Wyoming or whether they're in the Congo, then we won't find our way toward the solutions that we need in order to continue thriving as a society of globally connected people."
Kartha contends the recent drop in global demand for oil shows that being a net coal, oil and gas exporter made the U.S. economy more vulnerable during the coronavirus crisis.
"Seeing things in terms of oil and gas production - in and of its own being a good thing that allows the U.S. to project power - that might be a little misguided," said Kartha. "That's a double-edged sword."
The report said according to the world's leading scientists, just a decade remains to reduce greenhouse-gas emissions to safe levels, or the damage from climate change could become permanent.
