University of Minnesota Fellow and global energy and transportation expert Gerard Reid visited Morris last week from his European home. The founder of Alexa Capital advises large companies around the world on energy matters and he told the KMRS Community Connection that, from a purely financial perspective, carbon-based fuels are considered risky.
“What’s very clear is the finance world sees carbon as a risk,” said Reid. “What that means is, if you took tomorrow and decide to build a coal plant, it’s going to be really difficult to get financing. Or, if you do get financing, it’s going to be at very, very expensive terms. And that risk is quite interesting, because that tells you when you see that type of thing happening, that there is a reality in and around us.”
“I have two gas companies in Europe as clients and one of them, their employees are being incentivized to reduce carbon emissions. That’s part of their incentive package. That’s pretty big when you see that type of thing happening.”
There will be continued growth in green energy, he said, as countries like China and India try to grapple with their massive air pollution problems. Reid also noted that the younger generations will not put up with these polluting fuels, with better and cheaper alternatives becoming more available.