JAMES Magazine Online: Can Georgia’s Economy Thrive Without Fossil Fuels?
Wednesday, March 27th, 2024
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In today’s discourse, the narrative often leans towards our nation’s economy having moved beyond the need for fossil fuels. This perspective fails to acknowledge the indispensability of energy reliability, the significant efficiency advancements made in the United States– and more specifically in Georgia. It also glosses over the crucial global comparisons and the national security risks associated with abandoning a diversified energy portfolio.
Georgia stands as a testament to the strength derived from a mix of energy sources. Notably, the Hyundai EV Metaplant is not just an industrial milestone in the Savannah region; it’s a beacon of high-quality job creation that substantially uplifts our communities across the state. This example underscores a broader narrative: Georgia’s trajectory of balanced and thoughtful growth is a model of how diverse energy strategies can fuel societal advancements, across all economic stratus. Drawing from extensive experience leading large teams, I’ve seen firsthand that meaningful employment is the cornerstone of community well-being.
Yet, our aspirations for cleaner energy and reduced emissions must be contextualized within the broader landscape of global carbon dioxide emission trends. Overlooking the troubling contributions to the global total carbon emission by nations like China and India is short-sighted. In contrast, the United States, and particularly Georgia, have made commendable strides. In 2023 alone, while global emissions outside China and India fell by 419 million metric tons, the U.S. led with a reduction of 154 million metric tons.
This achievement is part of a broader narrative where the U.S. has reduced its carbon emissions by 17 percent over two decades, even amidst GDP growth, demonstrating a commitment to efficiency and sustainability. China talks a good game of emission reductions, but does the inverse.
In Georgia, energy leadership and resilience against energy disruptions is attracting businesses with our reliable, efficient and affordable energy. The 2022 Georgia Energy Report highlights a remarkable 31 percent drop in BTUs consumed per person from 1996 to 2020. That’s a testament to our journey towards energy efficiency.
This shift not only enhances our attractiveness as a business destination but also strengthens our national security and competitiveness. Our investment in advanced nuclear units and a balanced mix of renewable and traditional energy sources underscores our commitment to a sustainable future. Georgia regularly is ranked in the top 10 in solar energy deployment, without a costly, top-down mandate to do so.
However, moving away from strategic fossil fuel use, especially clean-burning natural gas, would disadvantage us on the global stage, a risk too significant in the realm of international competitiveness.
As Georgia strides forward, balancing economic growth with environmental stewardship stands as a beacon of sustainable development. Our state’s nuanced and effective energy policy serves as a blueprint for others, highlighting the importance of a diverse energy portfolio. The path ahead should focus on continuing to harness this balanced approach, leveraging both innovation in renewable energy and the strategic use of fossil fuels.
Georgia’s energy policy exemplifies how a balanced approach can lead to robust economic growth, enhanced national security, and environmental sustainability. As we look to the future, the state’s strategy serves as a guiding light for comprehensive energy planning that other states and countries could well consider.
Tim Lowe is the former CEO of Lowe Engineers and a former chairman of the Georgia World Congress Center Authority. Lowe retired as a captain with the U.S. Navy following 30 years of active and reserve duty. A member of the Georgia Chamber Board of Governors, he served on the Department of Natural Resources Board. Lowe is also a former chairman of the Council for Quality Growth and a member of its Executive Committee.