Bob Marshall: Ukraine War Shows The Need For Renewable Energy - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Washington Wire
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Advertise
    • Contact
    • Editorial Staff
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Washington Wire RSS Get our newsletter
Order Prints
March 7, 2022 Washington Wire
Share
Share
Post
Email

Bob Marshall: Ukraine War Shows The Need For Renewable Energy

New Orleans Advocate, The (LA)
When you've developed a potentially fatal dependency, should you take steps that deepen it, or work to kick the habit?

For at least a decade Earth has been sending climate signals, such as rapidly rising seas, larger hurricanes and record wildfires, demonstrating that our dependency on fossil fuels is harming our health, economies and — for some communities in coastal Louisiana — even their existence.

Now Vladimir Putin has given us another powerful reason to kick the fossil fuel habit with his murderous invasion of Ukraine.

For years Putin has weaponized Europe's dependence on Russia for 40% of its gas and 25% of its oil. And he has pointed that weapon at Europe since the invasion began

That threat initially caused waffling for support of Ukraine in Europe and beyond. Oil prices had already been skyrocketing as economies began a comeback from the COVID pandemic.

But after a few days, something truly hopeful for the future of the planet began happening. Europe said "Nyet!" to Putin and any future for his fossil fuels — or from any other source. It has accepted that near-term higher energy costs will be necessary to stop Putin's aggression, and it knows this move will also help speed its transition to renewable fuels that can reduce some climate impacts already underway.

Last week at the same time Germany — Europe's largest economy — dramatically increased its defense spending, it also announced it has advanced its goal for 100% renewable energy by 15 years from 2050 to 2035. Other nations are said to be working on similar plans.

And the unmasking of Putin's worldview was not the only assist given last week to the necessity for ending our addiction to fossil fuels.

Just as Russian rockets and artillery began killing Ukrainians for wanting freedom, the Intergovernmental Panel on Climate Change released its latest report on how quickly fossil fuels are racing us toward a future of unstoppable disasters. Its conclusion is as brutally realistic as Putin's tanks.

"Climate change is a threat to human well-being and planetary health," the authors write. "Any further delay in concerted anticipatory global action on adaptation and mitigation will miss a brief and rapidly closing window of opportunity to secure a livable and sustainable future for all."

This follows its August report that there is no doubt human-produced emissions from fossil fuels are the major cause of climate change and only rapid reductions in their use can slow the rate of change and reduce some of its impacts.

Of course, the U.S. oil and gas industry saw opportunity in Putin's attack on Ukraine. The American Petroleum Institute and almost every GOP politician screamed that more production was needed immediately to help Europe resist Putin. It even claimed regulations by the Obama and Biden administrations to help the transition to cleaner fuels caused a lack of supply.

Yet production under Obama was higher than during the George W. Bush years. And drilling permits under Biden are proceeding faster than they did under Donald Trump, though that may change if the administration succeeds in suspending leasing.

Oil and gas production rates almost always are the result of the world market. For two years the global recession and the rise of natural gas caused by the pandemic dropped the price-per-barrel to almost negative rates.

That's why America's petro-patriots only scream that they want to make us "energy independent" when the price soars of oil — but stop singing the national anthem when it gets down to $30.

Russia's criminal invasion of Ukraine has brought into sharp focus why America's military leadership has long been saying climate change is one of the top five national security threats.

Reducing our addiction to fossil fuels will be necessary to contain both.

Yes, it will be costly. Yes, it will be disruptive and require transitions from old, established industrial sectors to new ones.

But if larger, more damaging hurricanes, rapidly rising seas, sunny-day flooding, a permanent cycle of forest fires and soaring insurance rates haven't been enough to convince holdouts, maybe the unmasking of Putin will.

The endgame for appeasement in either battle is a very bleak future — if any at all.

Older

Texas Congressional Candidate Calls For US To Stop Importing Russian ‘Blood Oil’

Newer

Protesters, politicians call for cutting financial ties to Russia

Advisor News

  • Tax filing season is a good time to open a Trump Account
  • Why aligning wealth and protection strategies will define 2026 planning
  • Finseca and IAQFP announce merger
  • More than half of recent retirees regret how they saved
  • Tech group seeks additional context addressing AI risks in CSF 2.0 draft profile connecting frameworks
More Advisor News

Annuity News

  • Allianz Life Launches Fixed Index Annuity Content on Interactive Tool
  • Great-West Life & Annuity Insurance Company Trademark Application for “SMART WEIGHTING” Filed: Great-West Life & Annuity Insurance Company
  • Somerset Re Appoints New Chief Financial Officer and Chief Legal Officer as Firm Builds on Record-Setting Year
  • Indexing the industry for IULs and annuities
  • United Heritage Life Insurance Company goes live on Equisoft’s cloud-based policy administration system
More Annuity News

Health/Employee Benefits News

  • Data from University of Michigan Provide New Insights into Managed Care (Attitudes About Administrative Burdens for Beneficiaries and Dental Care Providers in Medicaid): Managed Care
  • Study Data from St. Christopher’s Hospital for Children Provide New Insights into Managed Care (Emergency Dental Care in the ACA Era: Rural-Urban Disparities and Their Association With State Medicaid Policy): Managed Care
  • Researchers from University of California Discuss Findings in COVID-19 (Assessing the Use of Medical Insurance Claims and Electronic Health Records to Measure COVID-19 Vaccination During Pregnancy): Coronavirus – COVID-19
  • 85,000 Pennie customers dropped health plans as tax credits shrank and costs spiked
  • Lawsuit: About 1,000 Arizona kids have lost autism therapy
More Health/Employee Benefits News

Life Insurance News

  • With recent offerings, life insurance goes high-tech
  • Symetra Launches New Chapter of ‘Plan Well, Play Well’ Campaign With Sue Bird
  • Best’s Market Segment Report: Caribbean Insurers’ Reinsurance Costs and Capacity Constraints Moderate, Although Climate Vulnerability Remains
  • Outlook 2026: With recent offerings, life insurance goes high-tech
  • Pioneering businessman, political and social leader Mack Hannah Jr., remembered
Sponsor
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Elevate Your Practice with Pacific Life
Taking your business to the next level is easier when you have experienced support.

LIMRA’s Distribution and Marketing Conference
Attend the premier event for industry sales and marketing professionals

Get up to 1,000 turning 65 leads
Access your leads, plus engagement results most agents don’t see.

What if Your FIA Cap Didn’t Reset?
CapLock™ removes annual cap resets for clearer planning and fewer surprises.

Press Releases

  • Finseca & IAQFP Announce Unification to Strengthen Financial Planning
  • Prosperity Life Group Appoints Nick Volpe as Chief Technology Officer
  • Prosperity Life Group appoints industry veteran Rona Guymon as President, Retail Life and Annuity
  • Financial Independence Group Marks 50 Years of Growth, Innovation, and Advisor Support
  • Buckner Insurance Names Greg Taylor President of Idaho
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Advertise
  • Contact
  • Editorial Staff
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet