Coal: Following the Money

Those wishing to understand the truth about transitions in the energy sector would be well advised to look past the public discourse on the subject, and examine where the money is going.  This, of course, is just another way of saying: actions speak louder than words.  The American Energy Society makes this report about coal:

Allianz, the largest insurance group for the coal sector, has updated its coal insurance policies. It had already excluded new insurance policies for new coal-fired power plants; now, Allianz will  no longer offer property and casualty insurance for any company whose business model is largely based on coal, and there will be no new policies for any company that does not have a clear coal exit path after 2023.

Ridding the U.S. of coal is a wonderful thing, insofar as it’s by far the dirtiest of the major energy sources on the planet.  Having said that, we all share the same atmosphere.  Thus any solution that does not address what’s happening in India and China is really not a solution at all.  This forms the imperative to develop technologies in nuclear and renewable energy, and aggressively push them to scale around the globe.