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But of one thing the Advisian team is sure: the future may be bright but it is also looking pretty darn confusing; this is not going to be any velvet revolution. "If you look to the future, it's going to be extremely difficult and disruptive to bring new energy technologies at scale to the industrial complexes throughout the world without destroying significant value," Ebert warns. "This integration piece is critical. It's easy to bring in technologies at low penetration levels but as soon as the penetration starts impacting other markets - a classic example would be a traditional generation fleet - you can destroy significant social value and that represents a huge challenge. Think of aluminium smelters that use enormous amounts of electricity and yet we all benefit from the aluminium that they produce. This isn’t just about adding on a solar power plant, we’re talking process redesign with significant amounts of energy storage to provide stability. That’s going to take real cerebral horsepower." ‘The greatest business opportunity in the history of mankind’ In some respects, however, the jobs of people like Messrs Graham, Ebert and Israel are getting easier – at least in terms of (client) acceptance of low-carbon energy if not on a day-to-day basis! Israel explains: "On a personal level, having been an advocate of low emission technologies and renewables for many years, I used to get asked why I was wasting my time thinking about low-carbon. These days this is less of an issue as more and more industries develop a desire to move to low-carbon energy options. At the same time, the economics and the opportunities around the investment in it are becoming more and more compelling." Ebert echoes the ‘de-linking’ of new energy from environmental ideals as these technologies, particularly renewables, start to make commercial and business sense.
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Business formation was much more widely shared around the turn of the century: From 1995 through 2004, the group found, 2,200 counties added businesses and just 964 suffered net losses. But from 2005 through 2015, the group found, only 1,029 counties added businesses, while 2,109 lost them. The counties adding businesses also added 6.7 million private-sector jobs from 2005 to 2015, while the counties shedding businesses lost 1.2 million private-sector jobs. Annual wages in the places adding businesses were about 20 percent higher than in the losing counties. What's more, the losing places surrendered an even greater share of their businesses from 2005 to 2015 than they had in the previous 10 years. While the counties adding businesses over the more recent decade included a number in energy-producing regions, the winners were mostly concentrated in major metropolitan areas. The very top of the list for net business creation included the counties encompassing Los Angeles; Brooklyn, New York; Houston, Miami; Austin, Texas; and Queens, New York. The counties topping the list for total job creation included those around Houston, Manhattan, Los Angeles, Santa Clara (Silicon Valley), Seattle, San Francisco, Austin, San Antonio and Dallas. As the economic performances of these counties diverged, so too did their political preferences.
For the original version including any supplementary images or video, visit https://www.cnn.com/2018/07/24/politics/voters-democrats-republicans-economy-culture-divide-president-trump/index.html
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