The fossil fuel divestment movement is spreading across college campuses. Most recently, students at the University of Washington staged a sit-in to urge the university administration to divest from its fossil fuel holdings. Last year, Harvard University – which has the largest fossil fuel endowment in the country – announced plans to divest from the industry after its student body protested.
Divesting from fossil fuels sounds like a great idea for a young, climate-conscious activist to get behind. That is until you get into the details and consequences.
The fossil field divestment movement, and those who support it, have no real plan for the aggressive clean energy transition they propose. Not only do fossil fuels still make up 60% of American energy, but a new report from the American Petroleum Institute shows that the industry supports nearly 11 million jobs and contributes more than 7% of the U.S. GDP.