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New York has the potential to enact a 1st-in-nation statutory requirement to reach a carbon-neutral economy by 2050. That's a big deal & why I just delivered a letter from 35 scholars calling on @NYGovCuomo & the legislature to get the job done this session--A thread to explain
"Carbon-neutral" implies replacing oil and gas furnaces with heat pumps. However, since utilities recover costs over 65 to 85+ years, ending gas burning by 2050 (in 31 years) will produce stranded assets. Thus, we must accelerate depreciation now!
#ManagedDecapitalization
