In the U.S., our energy system and our financial system have always run in tandem.
The first business lit with incandescent bulbs was J.P. Morgan’s original financial company, located at 23 Wall Street. None other than Thomas Edison himself was on hand to flip the switch. Fast-forward to the present and it’s no coincidence that a few major interests dominate both the financial and the energy industries. The sheer scale of our energy system—billion dollar coal plants, globe-spanning supply chains—requires massive banks. The profits from our energy system, in turn, help make our biggest banks even bigger.
Obviously, this situation isn’t working out so well for most of us. Our pension funds might provide for our personal futures, but they’re harming the futures of our children, our communities, and our planet. Our places of worship and universities channel their endowments to investments that no religious leader or ethics professor would ever recommend. Meanwhile, because our financing institutions are structured to make loans to a few large energy projects, there’s a major financing shortfall for the many smaller, distributed energy projects we really need.
The point is: if we want a new, clean energy system, we’re going to have to build a new financial system.
Residents from Barcelona, Spain, to Nice, France, will face the risk of flooding rain Friday into the start of the weekend.
A stormy pattern extending from the Pacific Ocean to the Atlantic Ocean will set the stage for multiple rounds of severe weather over the south-central part of the nation well into April.
The early spring can make for a good time to jumpstart your spring garden, especially for plants that can withstand lingering shots of cold air.
Dry weather will span the United Kingdom from Friday to this weekend, much to the delight for those with outdoor plans.
Anyone with outdoor or travel plans across Germany early this weekend will be greeted by dry, mild weather.
After harsh cold at midweek, temperatures will soar across the mid-Atlantic as winter chill lingers across New England into the weekend.
There is a distinct difference between a watch and a warning, and knowing the difference can save your life.
AccuWeather has strengthened its mission of saving lives, protecting property and helping people prosper with the launch of AccuWeather Ready - a year-round weather preparedness program that focuses on keeping people informed and safe.