A Hedge Fund Millionaire and the Gas Industry Collaborate to Delay Clean Energy Transition
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This article was originally published by Canary Media.
A Washington state initiative, aimed at preventing bans on fossil gas, will appear on the November ballot. This comes as many states and cities implement fossil gas bans and adjust building codes to promote clean energy. Environmental advocates view the measure as a response from fossil fuel industries resisting the shift to clean energy.
Caitlin Krenn, climate director at Washington Conservation Action, expressed concerns: “Special interest groups are desperate to maintain the gas system amid shifting policies and technologies.”
The initiative, I-2066, seeks to ensure gas utilities can continue operations by weakening clean energy laws. It is backed by the Building Industry Association of Washington, the Washington Hospitality Association, and Let’s Go Washington, led by hedge fund millionaire Brian Heywood. The group has invested over $10 million in various ballot measures for 2023 and 2024.
I-2066 would repeal parts of a law passed this year to accelerate Washington’s transition from gas to clean energy. The law mandates Puget Sound Energy to plan for electrification by 2027, although the utility claims it still must serve natural gas. The bill has sparked controversy from both conservative and environmental groups.
Heywood criticized the law, stating, “People are tired of being gaslit and having consumer choices removed.”
Washington state joins over 100 local governments in promoting building electrification, with new codes increasing heat pump usage. Similarly, states like California and New York have proposed health warnings for gas stoves and plan to ban gas-powered appliances by 2030.
However, the push for all-electric buildings faces opposition from gas utilities, highlighting fossil fuel’s perceived reliability. A legal challenge to Berkeley’s gas ban, led by the restaurant industry, was upheld, raising questions about similar policies.
In Colorado, a proposed initiative similar to Washington’s failed to advance. Krenn warns that the Washington ballot could threaten various state policies, potentially increasing energy costs and disparities.
“Low- and moderate-income people will bear the cost of the aging gas system as wealthier individuals shift to clean energy,” Krenn said.
Original Story at www.sierraclub.org