On Friday’s broadcast of MSNBC’s “Andrea Mitchell Reports,” Special Presidential Envoy for Climate John Kerry stated that wind and solar power will become “far more price competitive than oil and gas” if oil and gas companies see their costs rise because they “have to spend huge amounts of money for carbon capture and storage and utilization.”
Kerry said, “I would say to you, Andrea, that, frankly, I’m surprised, pleasantly, on the positive side, by the amount of things that are just taking hold. We see remarkable progress on batteries and battery storage. We’re seeing the price of wind and solar coming down still, even as the technology is getting better, and it’s going to be far more price competitive than oil and gas if they have to spend huge amounts of money for carbon capture and storage and utilization. We don’t know the answer to some of those questions now. The marketplace is chasing solutions, but that is creating jobs, it’s creating economic opportunity, and it’s already producing some changes that are happening — like electric vehicles — much faster than we anticipated.”
Earlier in the interview, Kerry stated that “I think that we are on the right track, as long as the emissions begin to be abated, they begin to be captured. And that is the key for the oil and gas industry.”
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