The report highlights the urgent need to reduce global carbon emissions and recommendations on how to quickly and economically transition to cleaner energy
FOR IMMEDIATE RELEASE
LEAWOOD, Kan. – Sept. 27, 2019 – How do we decrease global carbon emissions while global energy demand is growing? The fastest and least expensive way is through a combination of natural gas and renewables.
Tortoise’s Teal Energy Deal, which was debuted at their annual client symposium earlier in September, offers a realistic and achievable solution to reduce global carbon emissions. The report highlights the fact that not fossil fuels are created equal and demonstrates how carbon emitted from natural gas is dramatically less compared to coal.
Also highlighted are trends in global population growth, energy demand and the significant use of coal globally. Industry data depicts how quickly electrification is expected to drive power generation in the coming years.
The report concludes with recommendations on how to decrease global carbon emissions by using cleaner energy sources and highlights the impressive progress the United States is making toward lowering carbon emission levels.
“Energy demand is at an all-time high and it is essential that we meet that demand while reducing global carbon emissions,” said Tortoise Chief Executive Officer Kevin Birzer. “We think the solution is shifting the source of energy supply to renewables complemented by natural gas. This energy transition can also address energy poverty experienced by approximately one billion people globally who lack access to affordable, clean energy.”
Teal Energy Deal Highlights
- Carbon emissions from China and India have grown while U.S. emissions have declined due to switching from coal to natural gas and renewables.
- In the U.S., substituting coal for natural gas and renewables has led to a 28% decline in CO2emissions from power generation since 2005.
- Global demand for natural gas in power generation is expected to increase by approximately 40% from 2020 to 2040.
- Electricity demand is expected to double between 2016 and 2050with electric vehicles as a key driver of growth.
- At least $15 trillion is needed in global energy infrastructure as the world transitions to a future with greater power demand.
Video: Not All Fossil Fuels are Created Equal
Another component of Tortoise’s Teal Energy Deal campaign is a video here featuring Tortoise’s CEO Kevin Birzer who illustrates the wide range of carbon content across the hydrocarbon chain and stresses how the future of energy will be won by a combination of low carbon fossil fuels and renewable energy.
Learn more about The Teal Energy Deal here.
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Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.
Pam Kearney, Investor and Public Relations, (866) 362-9331, email@example.com