Investments Reveal Energy Disparity
Global energy investments show the disparity between fossil fuels and renewable energies, according to the International Energy Agency (IEA). Fossil fuels receive $523 billion in investments while renewable energy sees $88 billion.
"This ... is the story of two Americas: one striving for energy independence and the other mired in its addiction to oil," said Adam Monroe, President of Novozymes North America, an industrial enzyme manufacturer.
Reducing pollution caused by burning fossil fuels and addressing the issue of climate change will require nations to greatly reverse this imbalance in support, according to the IEA.
The United States could be energy independent by 2035 by supporting new energy technologies such as advanced biofuels. While we could support energy technologies, we're spending seven times more supporting fossil fuels than we do renewable energy, Monroe said.
"With so much at stake for the economy, we need the private investment, careers and security that clean energy provides."