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green transition
No Chris Wright, Destroying the Planet Won’t Solve Energy Poverty
Trump’s new energy secretary would like you to believe that “Zero Energy Poverty” and Net Zero emissions by 2050 are incompatible goals, but this could not be further from the truth.
Feb 06, 2025
Chris Wright, who was recently confirmed as the new secretary of energy, has been famous for years as one of the more unapologetic proponents of fossil fuels. In 1992, Wright founded Pinnacle Technologies, an early leader in the hydraulic fracking business, and later made his fortune as the CEO of Liberty Energy, one of the largest oilfield service firms in North America. In 2023, he made headlines for a series of inflammatory statements disputing the science of climate change.
Now Wright has taken a different tack on climate—less outrageous, but no less dangerous. At his Senate confirmation hearing last week, Wright claimed that he didn’t deny the existence of anthropogenic climate change; he only denied that climate change warranted any reductions in fossil fuel production. To make his case, Wright spoke in abstractions about “tradeoffs” and “complicated dialogue.”
Then came the doozy: Poor countries like Kenya suffered from sparse access to propane fuel, Wright said, and only fracking could deliver the low prices to make up for those shortfalls.
Wright claims to be working on behalf of the global poor, but if he were, he might heed their repeated calls for emission reductions in the United States and other wealthy countries.
Wright has been quietly developing this specious argument for years: that addressing energy poverty, especially in the Global South, requires untrammeled fossil fuel production, no matter the damage to the planet. In Liberty Energy’s 2024 annual report, Bettering Human Lives, Wright laid out his case for hydrocarbon extraction. “Only a billion people today enjoy the full benefits of a highly energized lifestyle,” Wright wrote, while “7 billion striv[e] to achieve the lifestyles of the more fortunate 1 billion.” Without access to reliable natural gas, “over 2 billion people still cook their daily meals and heat their homes with traditional fuels, [including] wood, dung, agricultural waste, or charcoal,” putting them at risk of acute respiratory disease from air pollution. The only remedy, according to Wright, is more fossil fuels like gas.
This weaponization of global energy poverty is so insidious because it takes a legitimate issue—inadequate access to reliable energy for billions of people around the world—and turns it into a neat talking point for the destruction of the planet. Energy insecurity is a real challenge for the Global South, with over 3 billion people estimated to suffer from energy poverty of some kind. But so is climate change, which the World Bank projects will push up to 135 million people into poverty by 2030, and which is already fueling extreme weather, conflict, and migration, from Micronesia to the Sahel.
Wright would like you to believe that “Zero Energy Poverty” and Net Zero emissions by 2050 are incompatible goals. According to Wright, “solar, wind, and batteries… will not, and cannot replace most of the energy services and raw materials provided by hydrocarbons.”
But this could not be further from the truth.
In a 2021 report, the Rockefeller Foundation report found that renewable energy could end energy poverty worldwide at a cost of just $130 billion a year, less than a sixth of what the United States currently spends on defense each year. Moreover, the report found that such a transformation would create 25 million jobs across Africa and Asia, more than 30 times the number of jobs created by a comparable investment in fossil fuels.
Wright’s case for hydrocarbons is based on a bad faith conflation of existing realities with possible futures. In Bettering Human Lives, Wright claims that electricity currently “delivers only 20% of total primary energy consumption” in order to challenge clean energy’s viability as a substitute for hydrocarbons. But as Wright himself knows, a central feature of the green transition will be the electrification of everything, from transportation to home heating to heavy industry. Present shares of energy usage for electricity do not provide an accurate picture of future consumption patterns .
In the case of the Global South, where energy poverty is most acute, the key will be the implementation and scaling of distributed renewable energy (DRE) systems. Unlike traditional grids, which often carry power over vast distances, DREs generate electricity from clean energy sources close to home. With the cost of batteries and solar PV both falling over 90% in the past decade, these systems are more affordable than ever. The Roosevelt Foundation sees DREs driving the clean energy transition across Sub-Saharan Africa and South Asia, with mini-grids providing power for a dizzying array of technologies: “solar lanterns, ice-making factories used by fishing communities, milk chillers and irrigation pumps for farmers, refrigerators and life-saving medical equipment in clinics and hospitals, and more.”
Some elements of the climate movement have pushed a degrowth agenda that fails to reckon with the energy needs of many countries in the Global South. Calls for developing nations to abruptly cut off coal consumption, for example, ring hollow if they are not accompanied by meaningful assistance to pay for more expensive alternatives. But for the most part, the climate movement has recognized the inequities in historical development and emissions patterns, and placed the burden squarely on the Global North to drive the decarbonization process.
Wright claims to be working on behalf of the global poor, but if he were, he might heed their repeated calls for emission reductions in the United States and other wealthy countries. For years now, developing countries have been asking the nations most responsible for the climate crisis to decarbonize fastest, in order to buy time for poorer countries to catch up. They have also called for additional climate finance to assist with mitigation and adaptation efforts. At COP29 in November, rich countries pledged $300 billion a year in climate finance by 2035, but research suggests developing nations need closer to $1 trillion a year to protect their most vulnerable populations. If Wright were sincere in his concern for the plight of the global energy poor, he would support these initiatives.
Of course, he will do no such thing. Wright’s patron in the White House has already made the new administration’s policy clear. On his first day back in office, President Donald Trump pulled out of the Paris climate accords—and froze all foreign aid for 100 days. Now Trump appears to have shuttered USAID entirely. To those observing from abroad, Wright’s bad faith appeals to global poverty must appear as one more indignity from an administration inclined to offer little else.
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Expensive, Deadly, and 50 Years Old: It’s Time to Retire the Gavin Coal Plant
Blackstone has the opportunity to cement itself as a leader in the green transition by continuing to invest in clean energy solutions and closing the deadly General J Gavin Coal Plant in Ohio.
Aug 12, 2024
Private equity giant Blackstone is invested in one of the largest and dirtiest coal plants in the United States, the General J Gavin Coal Plant in Ohio. Despite Blackstone’s commitments to reducing carbon emissions in new assets, various investments in renovating and constructing energy efficient buildings, and a $100 million investment in businesses that support the energy transition, the firm remains invested in this aging, polluting coal plant. As the Gavin Coal Plant celebrates its 50th birthday this year, it’s time for Blackstone to start planning the plant’s retirement.
Contradicting their corporate commitments to emissions reduction, Blackstone’s Gavin coal plant has emitted 106 million metric tons of CO2 into the atmosphere since the firm acquired the plant in 2016. These emissions impact communities well beyond Cheshire, Ohio. Because of its location, the Gavin Coal Plant is upwind of several major areas across the Eastern Seaboard such as Pittsburgh, Buffalo, and Baltimore, meaning the health impacts stretch across the country as well in a widespread plume of toxins. Sierra Club modeling found Gavin to be the nation’s deadliest coal plant as of February 2023, causing an estimated 244 premature deaths each year from particulate emissions.
Not only is Gavin deadly, it’s old and expensive. As the plant turns 50 this year, Gavin is an outlier among other coal plants slated for closure. Since 2000, the average age of retirement for coal-fired generating units has been 50 years. And, as coal plants age, operations and maintenance costs increase while performance decreases. In 2020, 46% of global coal plants were running at a loss, and Carbon Tracker estimates this rising to 52% by 2030 . Yet, Blackstone has not announced a retirement date for this old, inefficient asset.
Blackstone is in danger of missing this brief opportunity to leverage this program to repurpose an old, dirty, and inefficient coal plant while delivering returns for investors.
Blackstone has the opportunity to cement itself as a leader in the green transition by continuing to invest in clean energy solutions and closing the General J Gavin Coal Plant in Ohio. There’s extra funding for that green transition through the Inflation Reduction Act (IRA,) but the window of opportunity for that financingis closing. Blackstone should close the Gavin Coal Plant and repurpose the site for the renewable energy transition, and the IRA funding provides a unique financial opportunity for the firm to do just that.
Blackstone executives are well aware of the investment opportunities that exist in the clean energy transition. In fact, in Blackstone’s 2023 Q2 earnings call, President and Chief Operating Officer Jon Gray stated that the IRA would be helpful in spurring investments in the energy transition. Gray said:
The IRA in the U.S. has made a big difference. I mean, there was $250 billion of large-scale renewable projects announced in the last seven years. And there was an equal amount announced in the last year basically since the IRA passing. So, we would say very large scale opportunity and should result in a new area for us to grow and generate incremental fees and returns for investors.
By Blackstone’s own calculus, the IRA is a critical tool for spurring investments and generating returns for investors. Blackstone should get an application in for the Energy Infrastructure Reinvestment Program by the end of the year to ensure the firm is in the running for favorable financing terms to retool, repurpose, or replace the Gavin Coal Plant.
As of March 2024, there were 203 active applications in the Department of Energy’s Loan Programs Office which oversees the Energy Infrastructure Reinvestment Program. Over $262.2 billion in loans have been requested, and the program budget is only $250 billion. Blackstone is in danger of missing this brief opportunity to leverage this program to repurpose an old, dirty, and inefficient coal plant while delivering returns for investors. Blackstone must act now and retire the Gavin Coal Plant.
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Most People on Earth, Even in Petrostates, Want Quick Fossil Fuel Phaseout: Poll
"There can be no doubt that citizens across the world are saying to their leaders, you have to act and, above all, have to act faster," a U.N. official said. "This is an issue that almost everyone, everywhere, can agree on."
Jun 20, 2024
A large majority of the global population, including people who live in oil, gas, and coal producing countries, supports a fast transition to clean energy and a phaseout of fossil fuels, a poll released Thursday showed.
Across 77 countries, 72% of those surveyed supported a quick fossil fuel phaseout, while an even higher percentage, 80%, supported stronger climate action in general, according to the poll, called Peoples' Climate Vote and conducted for the United Nations Development Program (UNDP) with the University of Oxford and GeoPoll.
"There can be no doubt that citizens across the world are saying to their leaders, you have to act and, above all, have to act faster," UNDP Administrator Achim Steiner toldThe Guardian. "This is an issue that almost everyone, everywhere, can agree on."
📣 Our #PeoplesClimateVote 2024 results are live! The world’s largest standalone public opinion survey on #ClimateChange.
The results are clear. People want more #ClimateAction, and they want it now.
Explore a world of views on the climate crisis: https://t.co/mJsEzN3NGy pic.twitter.com/2kwA4KcPnn
— UN Development (@UNDP) June 20, 2024
People in most major fossil fuel producing nations support a quick energy transition in their own countries, the poll showed. In the United States, the world's largest oil and gas producer, 53% supported either a "very" or "somewhat" quick phaseout; in Saudi Arabia, the second largest, 75% did so; and in China and India, the leading coal producers, the figures were 80% and 76%, respectively.
The poll also showed overwhelming support for transnational cooperation, even if it requires setting aside other differences: 86% of those surveyed said want countries to tackle climate change together. Steiner called this a "stunning" level of consensus.
Steiner noted that fossil fuel subsidies distort the market and subvert the public will for change.
"There are very narrow, self-interested agendas that maintain artificially inflated [profits] for fossil fuel-based industries that ultimately are coming at the cost of everyone," he said.
The poll—the largest standalone public opinion survey on climate change to date, building on a first edition that was run in 2021—clarifies the will of the global public and strengthens the moral case for climate action, commentators said.
"Brilliant to see clear, credible evidence that the overwhelming majority of people across the world—oil rentier economy or not—want to see transition from fossil fuels to renewable energy 'quickly,'" X user Dave Drabble wrote. "Let's not let oil and gas interests determine our fate."
Similarly rejecting the influence of fossil fuel interests, Steiner said, "It is so important we let the people speak for themselves."
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