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☆ ‘World’s largest’ plant to suck carbon out of the air and turn it into stone opens in Iceland
▼ + stars: | 2024-05-08 | by ( Laura Paddison | ) edition.cnn.com time to read: +4 min

Direct air capture, or DAC, is a technology designed to suck in air and strip out the carbon using chemicals. Climeworks plans to transport the carbon underground where it will be naturally transformed into stone, locking up the carbon permanently. ClimeworksClimeworks' Mammoth plant will eventually be able to capture 36,000 tons of carbon from the air. It will increase the size of equipment to capture carbon pollution. It’s this kind of process that makes some critics concerned carbon removal technologies could be used to prolong production of fossil fuels.

Persons: ”, Lili Fuhr, Haukur, Climeworks Climeworks, Stuart Haszeldine, it’s, Jan Wurzbacher Organizations: CNN, Climeworks, Center for International Environmental Law, Mammoth, University of Edinburgh, International Energy Agency, Stratos, Occidental Locations: Iceland, Swiss, Texas, Occidental, Kenya, United States

☆ Can this ocean-based carbon plant help save the world? Some scientists are raising red flags
▼ + stars: | 2024-04-21 | by ( Laura Paddison | ) edition.cnn.com time to read: +9 min

Fans will pump air through the alkaline stream, which causes carbon dioxide to form solid calcium carbonate, the material from which seashells are formed, which will look like a fine sand, as well as dissolved bicarbonate. The seawater will also be sent back into the sea, ready to absorb more carbon dioxide from the atmosphere. The ambition is to scale up to 100,000 metric tons of CO2 removal a year by the end of 2026, and from there to millions of metric tons over the next few decades, Sanders told CNN. Equatic has already signed a deal with Boeing to sell it 2,100 metric tons of hydrogen, which it plans to use to create green fuel, and to fund the removal of 62,000 metric tons of CO2. It will remove just under 4,000 metric tons of carbon dioxide a year, with the aim of scaling up to 100,000 metric tons a year by the end of 2026.

Persons: Jean, Pierre Gatusso, “, ”, Patrick T, Fallon, Equatic, Gaurav Sant, Edward Sanders, Sanders, Sant, Lili Fuhr, Fuhr, James Niffenegger, Niffenegger, “ we’re, ” Fuhr, It’s, Gatusso, ” Equatic, UCLA’s Sant, ” Sant Organizations: CNN, University of California, Sorbonne University, Getty, UCLA, National Water Agency, Port, Boeing, Center for International Environmental Law, National Renewable Energy Laboratory Locations: Vietnam, France, Singapore, Tuas, Los Angeles, LA, AFP, Port of Los Angeles

☆ At This California Radio Station, the Call Letters Say It All
▼ + stars: | 2024-02-07 | by ( Erik Piepenburg | ) www.nytimes.com time to read: +1 min

Fog clouded the San Jacinto Mountains recently as Brad Fuhr approached the headquarters of KGAY, a radio station in an undistinguished Palm Springs, California, strip mall. KGAY’s call letters aren’t a fluke but a savvy marketing tool. It’s the only terrestrial radio station in America geared toward L.G.B.T.Q. (There’s WGAY, a “party station” in the Florida Keys, but it doesn’t market itself as gay.) Three other D.J.s — Eric Ornelas, Galaxy and ModGirl — provide the station with homemade mix shows that play around the clock.

Persons: Brad Fuhr, ” George Lamond’s, ”, KGAY, “, Chris Shebel, John Taylor, Eric Ornelas, — Organizations: Volvo, coeur, iHeart’s Pride, KGAY Locations: Jacinto, KGAY, Springs , California, Britain, America, Cincinnati, Florida

Connor McDavid and Dylan Holloway also scored for the Oilers (27-15-1), who became the seventh team in NHL history to win 14 in a row. The 2016-17 Blue Jackets have the second-longest winning streak in NHL history at 16. Edmonton goalie Stuart Skinner made 27 saves and won his 11th straight game, passing Grant Fuhr for the longest single-season winning streak in Oilers history. The Oilers are 22-3-0 in their last 25 games and have gone a franchise-record 12 games allowing two or fewer goals. Dmitri Voronkov scored for the Blue Jackets (14-23-9), who have lost five of their last six games.

Persons: — Warren Foegele, Evander Kane, Connor McDavid, Dylan Holloway, Stuart Skinner, Grant Fuhr, Dmitri Voronkov, Elvis Merzlikins, Kane, Foegele, Merzlikins Columbus, Kent Johnson, Skinner, McDavid, Erik Gudbranson, Zach Hyman, Merzlikins, Connor Brown, Holloway, ___ Organizations: Edmonton Oilers, Columbus Blue Jackets, Oilers, Pittsburgh Penguin, Jackets, Edmonton, Blue Jackets, McDavid, Columbus outshot Edmonton, Columbus, Chicago Locations: EDMONTON, Alberta, Voronkov, Calgary

☆ COP28: Fossil fuel industry has nearly quadrupled registrations at climate summit since last year, watchdog report says
▼ + stars: | 2023-12-05 | by ( Laura Paddison | ) edition.cnn.com time to read: +4 min

The report was not able to count how many fossil fuel representatives are actually in attendance, though it has shown registration numbers have been increasing over the years. COP28 President Sultan Al Jaber, also an oil executive, has argued the fossil fuel industry should be involved in the summit. The analysis from the coalition, which this year organized under the name Kick Big Polluters Out, looked at the provisional list of COP participants to identify registrants with self-declared ties to fossil fuel companies or organizations with fossil fuel interests or foundations owned or controlled by a fossil fuel company. “The hallways and negotiating rooms of this climate conference are flooded with the largest number of fossil fuel lobbyists ever,” said Lili Fuhr, director of the fossil fuel energy program at the Center for International Environmental Law. Governments must “remain focused on delivering an outcome that supports and mandates a full phase out of fossil fuels while protecting public policy-making from fossil fuel interests,” she told CNN.

Persons: Sultan Al Jaber, ”, Lili Fuhr, Al Jaber Organizations: CNN, United Arab Emirates, Global, Dubai, United Nations, Center for International Environmental Law Locations: Dubai, Brazil, Egypt, COP27, COP28

☆ GM to delay all-electric truck production at Michigan plant until late-2025
▼ + stars: | 2023-10-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. A GM spokesman did not immediately respond to a request for comment regarding the company's EV production target. Alongside the Silverado EV, Factory Zero is currently building the GMC Hummer EV pickup and SUV and Cruise Origin shuttle. The plant was expected to be its second U.S. assembly plant to exclusively produce EVs. Roughly 1,000 hourly workers at Orion Assembly will have the option to transfer to other Michigan facilities until the retooling at Orion Assembly is completed.

Persons: Kimberly Fuhr, Motors, GM's Organizations: UAW Local, Bolt, General Motors Orion Assembly, DETROIT –, GM, Orion Assembly, Motors, Orion, United Auto Workers, UAW, Chevrolet Silverado, GMC, Silverado, Silverado EV, CNBC Locations: Orion Township , Michigan, DETROIT, Michigan, Detroit, North, Sierra

☆ GM to end production of electric Chevy Bolt, its first mass-market EV, later this year
▼ + stars: | 2023-04-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Steve Fecht for ChevroletDETROIT – General Motors plans to stop production of its electric Chevrolet Bolt models by the end of this year, CEO Mary Barra told investors Tuesday when discussing the company's first-quarter earnings. The Chevy Bolt EV and EUV, a larger version of the car, make up the vast majority of the company's electric vehicle sales to date. General Motors CEO Mary Barra unveiled the Chevrolet Bolt electric vehicle during the 2016 Consumer Electronics Show in Las Vegas. But Bolt sales never caught on as well as many executives hoped, as EV sales overall remained minuscule outside of Tesla . The Vermont State Police released this photo of the 2019 Chevrolet Bolt EV that caught fire on July 1, 2021 in the driveway of state Rep. Timothy Briglin, a Democrat.

☆ NHL roundup: Knights wrap up West's No. 1 seed
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +12 min

Reilly Smith, Alec Martinez and Chandler Stephenson scored for the Golden Knights (51-22-9, 111 points), who closed the regular season with an eight-game points streak (5-0-3). Liam O'Brien led the Coyotes with a pair of goals and Nick Schmaltz and added a goal and an assist. The Stars, who are looking to win a division title for the first time since the 2015-16 campaign, are atop the division. The Bruins set NHL records for most wins and most points in a single season. Tage Thompson scored his 47th goal of the season for Buffalo, which improved to 8-2-1 over its last 11 games.

☆ Billionaires are fascinated by solar geoengineering — but climate scientists are far from convinced
▼ + stars: | 2023-04-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

David Gannon | Afp | Getty ImagesWhat is solar geoengineering? Solar geoengineering or SRM refers to a speculative set of technologies designed to cool the Earth. To be sure, researchers calling for the rigorous study of SRM are not endorsing solar geoengineering as a climate solution. watch nowThe paper advocates for an International Non-Use Agreement on Solar Geoengineering, a call that has since received the backing of hundreds of climate scientists. Lili Fuhr, deputy director of the Center for International Environmental Law, described solar radiation management or solar geoengineering as "the ultimate false solution."

☆ General Motors will lead a $50 million funding round for lithium extraction startup EnergyX
▼ + stars: | 2023-04-11 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

EnergyX demonstrated its technology with a pilot plant in South America's "Lithium Triangle," an area of salt flats covering parts of Argentina, Bolivia and Chile that contains over half of the world's known lithium reserves. General Motors said Tuesday its venture capital arm will lead a $50 million financing round for EnergyX, a Texas-based startup developing a more efficient method to extract and process lithium from salt flats. The process is relatively cheap, but it only recovers 30% to 40% of the total lithium – while using huge amounts of water and land. EnergyX plans to use the new funding to build five larger demonstration plants in North and South America. For GM, a key priority is to unlock a North American supply of lithium, which isn't cost-competitive with global supplies using current extraction methods.

☆ Treasury Department delays electric vehicle tax credit guidance until March
▼ + stars: | 2022-12-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The Treasury Department is delaying plans to issue proposed guidance for the sourcing of electric vehicle batteries for federal tax incentives from the end of this month to March. That means some electric vehicles that are not expected to comply with the new standards will continue to be eligible for the credits until the proposed guidance issued. Some have argued the sourcing guidelines for vehicle materials are unrealistic given the current supply chain. Credit for the other $3,750 requires that at least 50% of battery components were manufactured or assembled in North America. Starting Jan. 1, a tax credit will not be available to single individuals with a modified adjusted gross income of $150,000 or higher.

☆ These controversial ETFs take big risks for massive returns
▼ + stars: | 2022-11-20 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +2 min

Known as leveraged ETFs, ProShares Advisors' Simeon Hyman embraces them — running his firm's UltraPro QQQ and UltraPro Short QQQ funds. Its UltraPro Short QQQ ETF is up over 54% so far this year. But its UltraPro QQQ ETF is off almost 74% in the same period. Hyman believes leveraged ETFs are valuable to the marketplace despite the potential for vastly different performance outcomes. Deborah Fuhr, founder of independent research firm ETFGI, suggests FINRA should take a closer look at leveraged ETFs.

☆ Finding bright spots in the bitcoin bear market
▼ + stars: | 2022-11-16 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +4 min

Despite a tumultuous year for cryptocurrencies and their trading platforms, there remains a bright spot in the space: bitcoin futures ETFs. The ProShares Bitcoin Strategy ETF (BITO) hit a trading record on Nov. 8, surpassing its previous record by 64%. And volume for ProShares Short Bitcoin Strategy ETF (BITI) also on Nov. 8 spiked 366% higher than any day since its launch, according to ProShares. Hyman said the lack of segregation among bitcoin exchanges underlines the need for maturation. "You hold enough cash, such that the return should be approximately spot bitcoin.

☆ General Motors is set to report earnings before the bell. Here's what Wall Street expects
▼ + stars: | 2022-10-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on Thursday, May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. DETROIT – General Motors is set to report its third-quarter earnings before the bell on Tuesday. Here's what Wall Street is expecting, according to Refinitiv consensus estimates:Adjusted earnings per share: $1.88$1.88 Revenue: $42.22 billionMost investors are expected to look past the Detroit automaker's results during the quarter in favor of any change in guidance or comments regarding larger economic issues. Inflation in particular has already dominated the conversation on Wall Street at the start to earnings season. GM also forecast full-year net automotive cash of between $16 billion and $19 billion and guided to adjusted automotive free cash flow in the range of $7 billion to $9 billion.

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