It’s alarming to consider that most of us are going to be driving gas-fueled cars in 15 years, despite such a tremendous increase in electric vehicle sales amid a growing campaign to tackle climate change. Many people who want to make a change by driving an electric vehicle already have one. Alternative-fuel vehicles will have to defeat gas-fueled cars and trucks at their own game if they are ever to take them off the road. That’s a difficult task. Gasoline is inexpensive, abundant, and efficient.
“If you decided to give the smartest engineers and scientists an unlimited amount of money and informed them to create the ideal storage medium for transportation, they’d come up with gasoline,” said Eric Toone, co-chair of an investment committee at the Breakthrough Energy Ventures, (BEV), which is a sustainability-investment company co-founded by Bill Gates and based in Kirkland, Washington. Richard Branson, Jeff Bezos, Mark Zuckerberg, and George Soros are among the billionaires interested.
“Safe, tremendously energy-dense, and easy to move around,” says RB00, +0.55 percent gasoline. “It has almost every imaginable quality you could desire in the energy-storage medium — excluding the fact that it emits carbon dioxide,” he explained. But it’s not all doom and gloom. We may have found the appropriate mix for the dynamic market that nevertheless helps the United States meet its climate goals. President Joe Biden affirms he has put the United States on track for a 50% reduction in emissions by 2030 and net-zero pollution by 2050.
Consider the following by 2030: A plethora of options, led by Ford Motor Co.’s F, +2.44 percent F-150. Green hydrogen solutions will spearhead the charge over the batteries for trains and planes, if not autos, and cleaner-burning fuels will help lower pollution for gas-burning vehicles, according to Lightning, one of the first all-electric light trucks. According to a recent assessment from the International Energy Agency (IEA), this combination will get the United States halfway to the Paris climate agreement’s aim of net-zero emissions by 2050. Some in the energy industry were taken aback by the report’s stark suggestion to reduce new gas and oil investment.
“It’s fairly clear that if we as a globe are going to get to net zero, a lot of our emissions reduction will have to come from solutions that haven’t been conceived, commercialized, or expanded,” stated Matt Peterson, the director of Amazon’s Climate Pledge Fund valued at $2 billion. The Amazon AMZN, -0.35%, as well as BEV, are really just two of a rising number of Fortune 500 businesses, venture capitalists, and bankers betting multibillion-dollar sums on startups with ideas that might help reduce the gap in industries such as energy, agriculture, construction, and transportation. Is it possible for them to succeed? Here are the three most important areas for transportation sustainability investment:
- Battery-powered EVs
- Hydrogen fuel cells
- Synthetic fuels