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☆ Environmental Progress explains why nuclear power is cheap, reliable
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNuclear the only cheap, reliable way to produce zero-carbon power in a scalable way: Advocacy groupMichael Shellenberger, founder of Environmental Progress, says "the problem with renewables is that they're reaching their limits in many countries."

Persons: Michael Shellenberger Organizations: Environmental

☆ Germany economy ministry supports 'fair' distribution of wind power expansion costs
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Joachim HerrmannBERLIN, Aug 13 (Reuters) - Germany's economy ministry is in favour of distributing the network costs of expanding renewable energies "fairly" among the country's federal states, a spokesperson for the ministry said on Sunday. Prices in the north have been comparatively high due to connection costs for wind turbines to the power grid that are passed on to the residents of the regions where the turbines are located. The premiers of the northern states said the difference in prices was hurting local support for constructing new wind turbines. "It is important that they (the federal states) work together for a fair distribution," the spokesperson told Reuters. I can well understand the frustration of many citizens and regions," Mueller told Neue Osnabruecker Zeitung in an interview published on Saturday.

Persons: Joachim Herrmann BERLIN, Klaus Mueller, Mueller, Andreas Rinke, Hugh Lawson Organizations: REUTERS, Reuters, Neue Osnabruecker Zeitung, Thomson Locations: Oberharmersbach, Germany

That is by far the most ever spent on clean energy in a year. Solar and Wind Power Have Taken Off Electricity generation per year, in terawatt hours China 600 TWh 500 Solar Wind U.S. China 400 E.U. It would shred regulations designed to curb greenhouse gases, dismantle nearly every federal clean energy program and boost the production of fossil fuels. 1 2 3 4 5 Even Tulsa, with its strong links to oil and gas, is embracing clean energy. “But we also understand that energy is energy, whether it is generated by wind, steam or whatever it might be.”Around the country, clean energy is taking root in unlikely locales.

Persons: ”, Fatih Birol, Al Gore, Crews, Francis Energy, Dewey, Bartlett Jr, “, J.W, Peters, Mr, Lazard, Gregory Nemet, —, Biden, Tesla, Giovanni Bertolino, Jon Creyts, Steve Uerling’s, Uerling, Cathy Zoi, It’s, Mary Barra, ’, Barra Organizations: Buses, Port, International Energy Agency, India India, Energy, The New York Times, Heritage Foundation, Republican, Ford, University of Tulsa’s School of Petroleum Engineering, “ Oil, Drillers, Navistar, Public Service Company of Oklahoma, Francis, Solar Power, U.S . Steel, Gas, University of Wisconsin -, Panasonic, United, European Union, United States ’, General Motors, RMI, Ford Fusion, Tesla, Postal Service, Amazon, Peterbilt, Companies, Francis Energy, BMW Group, Honda, Hyundai, Kia, Benz Group Locations: Pittsburgh, Milwaukee, Port of Los Angeles, Houston, Europe, United States, America, China, Britain, terawatt, India, U.S, States, Beijing, London, Tokyo, Washington, Oslo, Dubai, Tulsa, Okla, Italian, Oklahoma, Oklahoma City, Texas, Galveston, In Arkansas, Republican, University of Wisconsin - Madison, Georgia, Korean, Nevada, tailpipes, California, New York, San Francisco, Canada, South Korea, Russia, Ukraine, Steve Uerling’s Tulsa, E.U, G.M

Many opponents of renewable energy, she added, “are worried about the impacts to their very way of life.”Roadside opposition to renewable energy projects near Baldwin City, Kan. “We see offshore wind as a critical technology,” said Dan Burgess, the director of the Maine Governor’s Energy Office. Across the country, clean energy projects of all types are tied up in lengthy permitting processes. By then, India had not completed any offshore wind projects. Since 2000, the United States has barely built any major transmission lines that connect different regions of the country.

Persons: Scott Dickerson, ”, Biden, Alison Bates, “, Columbia University’s, Dan Burgess, Habib Dagher, Janet Mills, Gregory Wetstone, Mack, James Gillway, SunZia, ” Hunter Armistead, Broussard, There’s, Vaughan Woodruff, Tucker Carlson, Teslas, ” Ali Zaidi, Dagher, Rolf Olsen, who’s Organizations: University of Maine, Sears, Officials, Federal, International Energy Agency, Colby College, White, Columbia, Climate, The University of, Maine Governor’s Energy, Environmental, University of Maine’s, Composites Center, Gov, American Clean Power Association, American Council, Renewable Energy, Environmental Protection Agency, Army Corps of Engineers, . Clean, Union United, China India European Union United States, China European Union United, China India United States European, China United States European Union, China United States European Union India, Energy, The New York Times, United, Pattern Energy, New York State Energy Research, Development Authority, Toyota Prius Locations: Penobscot Bay, Maine, , Maine, United States, Europe, China, Australia, India, Los Angeles, Ohio, Jersey Shore, Waterville , Maine, Baldwin City, Kan, Massachusetts, Ukraine, Gulf, Searsport , Maine, Searsport, Bangor, Mack, West, Union United States, U.S, China United States European Union India, Great, New Mexico, Arizona, California, Riesel , Texas, Energy, San Bernardino County, In Kansas, Atlantic City, N.J, New York, Manhattan, Sears

☆ Renewable energy sources have kept the Texas power grid stable this summer even as the state breaks record after record for power usage
▼ + stars: | 2023-08-12 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +3 min

Renewable energy has kept the power grid "remarkably stable" despite the significant strain, an expert says. Texas leads the nation in wind-generated power and is third in the country for solar power. As these extreme temperatures continue to bake Texas, residents are cranking up their air conditioning, straining the state's power grid. Texas produces more wind-powered electricity than any other state and is a national leader in solar energy alongside California and Florida. Some state and national Republicans, however, have pushed back against legislation that would further strengthen the clean energy sources keeping the air conditioners running in Texas this summer.

Persons: Austin, Emily Foxhall, Joshua Rhodes, Rhodes, we're Organizations: Service, Lone Star, Electric, of Texas, Texas Tribune, CBS, Webber Energy Group, University of Texas, Texas, Republicans Locations: Texas, El Paso, California, Florida . Texas

☆ How more than a trillion dollars in U.S. government infrastructure spending can boost these 3 industrial stocks
▼ + stars: | 2023-08-11 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

The U.S. government is deploying trillions of dollars of stimulus money into infrastructure investments, boosting the prospects for a number of industrials in the Club portfolio. Club names Honeywell (HON) and Emerson Electric (EMR) might also grab some of the IRA's funding for green energy. Gains were linked to a boost in demand for construction equipment because of the "once in a generation" Infrastructure bill. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. The White House's infrastructure plan estimates to set aside approximately $35 billion for Texas projects.

Persons: Joe Biden, Emerson, Morgan Stanley, Economist Ellen Zentner, Zentner, Larry Fink, Jim Umpleby, Jim Cramer, Josh Pokrzywinski, Jim Cramer's, Jim, Brandon Bell Organizations: Club, Infrastructure Investment, Jobs, Act, Caterpillar, Honeywell, Emerson Electric, Morgan Stanley Chief, Economist, CNBC, CAT, Inflation, Bank of America, National, Software, Control, Getty Locations: U.S, North America, Houston , Texas, Texas

Containers of the Hapag-Lloyd shipping company are pictured at the Valparaiso port, Chile November 24, 2022. Chief Executive Rolf Habben Jansen said there were signs of recovery in spot freight rates and loadings. Shares in Hapag-Lloyd, the world's fifth-largest shipping line, were 2.9% down at 187.5 euros in early trade. Its first half revenues were 41% lower at 10.0 billion euros. EBITDA is expected to be between 4 billion and 6 billion euros.

Persons: Rodrigo Garrido, EBIT, Lloyd, Rolf Habben Jansen, Vera Eckert, Friederike Heine, Kim Coghill, Barbara Lewis Organizations: Lloyd, REUTERS, Companies, Maersk, CMA CGM, Reuters, Thomson Locations: Valparaiso, Chile, FRANKFURT, Hapag, North America, Ukraine

☆ Canada's Algonquin mulls sale of renewable energy unit, CEO exits
▼ + stars: | 2023-08-10 | by ( Tanay Dhumal | ) www.reuters.com time to read: +2 min

Aug 10 (Reuters) - Canada's Algonquin Power & Utilities (AQN.TO) on Thursday announced the resignation of CEO Arun Banskota and said it was considering a sale of its renewable energy unit, after activist firms urged action to reduce debt and boost earnings. The decision to divest comes months after the company initiated a strategic review of the renewable energy division, following a push for changes by activist firms including Corvex Management and Starboard Value. Algonquin said it had received interest for the renewable energy unit, but did not provide financial details or timelines for any potential deals. The company said on Thursday JPMorgan (JPM.N) would act as its financial advisor for the possible sale of the renewable energy unit, which includes all of the company's non-regulated operating and development power generation assets. Algonquin also posted a wider second-quarter loss of $253.2 million, compared with a loss of $33.4 million a year earlier.

Persons: Arun Banskota, Christopher Huskilson, Nelson Ng, Tanay, Milla Nissi Organizations: Algonquin Power & Utilities, Thursday, Corvex Management, Capital, JPMorgan, Thomson Locations: Algonquin, Bengaluru

☆ India succeeds in reducing emissions rate by 33% over 14 years - sources
▼ + stars: | 2023-08-09 | by ( Sarita Chaganti Singh | ) www.reuters.com time to read: +3 min

REUTERS/Adnan Abidi/File PhotoNEW DELHI, Aug 9 (Reuters) - India's greenhouse emissions rate dropped by a faster-than-expected 33% in 14 years as renewable energy generation rose and forest cover increased, according to two officials privy to latest assessment made for submission to the United Nations. India's rate of emissions intensity - the total amount of greenhouse gas emissions emitted for every unit increase of gross domestic product (GDP) - fell by 33% from 2005 to 2019, officials privy to the preparations of the Third National Communication (TNC) report said. India's average rate of reduction in emissions increased to 3% annually in the period 2016-2019, from just about 1.5% in the period 2014-2016. The progress made on reducing emissions intensity should help India avert pressure by developed nations to stop using coal, the second official said. Recently, India has also been trying to promote green hydrogen, manufactured by splitting water molecules using renewable energy.

Persons: Adnan Abidi, Sarita Chaganti Singh, Simon Cameron, Moore Organizations: REUTERS, United Nations, National Communication, Reuters, Reuters . Central Electricity Authority, Reuters Graphics Reuters, Thomson Locations: New Delhi, India

Phillips declined to make an executive available for comment and both ADM and Phillips 66 declined to comment. TECH LINED UPAxens SA, which provides technology to convert oil and biomass to lower-carbon fuels, in May agreed to provide its ethanol-to-fuels conversion technology to Phillips, ADM or a joint venture. ADM already formed a joint venture in 2021 with top U.S. oil refiner Marathon Petroleum Corp (MPC.N) to churn out renewable diesel from soybeans. Top oilseed processor Bunge (BG.N) and Chevron (CVX.N) last year formed Bunge Chevron Ag Renewables to make renewable fuels from soybeans and canola. As part of one deal, Chevron invested $600 million in the joint venture, helping double processing capacity at two Bunge soybean crushing facilities.

Persons: Nathan Frandino, refiner Phillips, Phillips, Axens, Gevo, Stephanie Kelly, Karl Plume, Jarrett Renshaw, Erwin Seba, Marguerita Choy Organizations: Phillips, American West, REUTERS, Daniels, Midland, ADM, Renewable Fuels Association, TECH, Axens SA, Gevo Inc, Marathon Petroleum Corp, Bunge, Chevron, Bunge Chevron Ag Renewables, Thomson Locations: Rodeo , California, American, U.S, Peoria , Illinois, Columbus , Nebraska, Cedar Rapids , Iowa, Houston, , California, California, Paris, North Dakota, Bunge Chevron, New York, Chicago, Washington

☆ 'Once-in-a-lifetime' opportunity: Morgan Stanley's stocks to trade Europe's renewable energy boom
▼ + stars: | 2023-08-08 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Morgan Stanley named several stocks to play Europe's investment in renewable energy — and highlighted a "once-in-a lifetime" opportunity in the electricity sector in particular. Earlier this year, the European Union raised its renewable energy targets in the face of the energy crisis that followed Russia's invasion of Ukraine. The bank estimated the transition to green power sources will cost around 5 trillion euros ($5.5 trillion) between now and 2030. Growth opportunity "The EU and UK renewables targets imply significant growth investment opportunities for renewable developers," the bank said. Though Morgan Stanley is positive on the opportunities for renewable energy companies, it said the EU's targets would be "hard to achieve."

Persons: Morgan Stanley, Morgan, Jens Eisenschmidt, Orsted, Centrica, Michael Bloom, Sam Meredith Organizations: European Union, Grid, EU, Siemens Energy, British Gas Locations: Ukraine

☆ Siemens Energy books $2.4 billion in charges for wind turbine issues
▼ + stars: | 2023-08-07 | by ( Christoph Steitz | ) www.reuters.com time to read: +3 min

[1/2] The logo of energy technology company Siemens Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. The charges will inflate Siemens Energy's net loss more than six-fold in 2023 to 4.5 billion euros, the company said, as it published third-quarter results showing a record order backlog due to strong demand. Siemens Energy shares reversed an opening fall of as much as 7% to stand 1.5% higher on the day by 0725 GMT. "Our third-quarter results demonstrate the challenges in turning around Siemens Gamesa," Siemens Energy CEO Christian Bruch said, adding that the group's remaining units, including gas turbines and power converter stations, performed well. While in line with Siemens Energy's own estimate of more than 1 billion euros, Monday's cost tally for the issues is below the most pessimistic market estimate of more than 5 billion euros issued by UBS.

Persons: Chris Helgren, Christian Bruch, Alix, Christoph Steitz, Barbara Lewis, Stephen Coates, Kirsten Donovan Organizations: Siemens Energy, REUTERS, UBS, Siemens, Siemens Gamesa, Alix Partners, Thomson Locations: Vancouver , British Columbia, Canada, FRANKFURT

☆ Morgan Stanley names 3 high-conviction global stock ideas, says one could soar 40%
▼ + stars: | 2023-08-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Morgan Stanley has identified three Asia Pacific stocks as "high conviction" and actionable trade ideas. The bank said the three stock ideas highlight "actionable, high-conviction calls" made by its equity research team in the preceding week. However, it cautioned that investors should not interpret these stock ideas as portfolios. Treating 'Three Actionable Ideas' ideas as a portfolio will subject you to the risk of losing all or a substantial portion of your investments," the bank said. Morgan Stanley said its price target was probability-weighted, giving 30% to its bull case and 60% to its base case scenarios.

Persons: Morgan Stanley, Renesas Electronics Morgan Stanley, FactSet, Macquarie, ICICI Bank Morgan Stanley, Michael Bloom Organizations: Asia, Electronics, Australia's Macquarie Group, India's ICICI Bank, Renesas Electronics, Macquarie Group, ICICI Bank Morgan, ICICI Bank Locations: Japan, U.S

☆ Wells Fargo hires Credit Suisse veteran as head of financial sponsors
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon/File PhotoAug 7 (Reuters) - U.S. bank Wells Fargo (WFC.N) said on Monday Malcolm Price has joined its corporate and investment bank (CIB) as the head of financial sponsors, after 35 years at Credit Suisse. During his time at Credit Suisse, Price helped form its financial sponsors coverage business in 1996. He was the Swiss bank's first head of Americas financial sponsors before assuming global leadership of the group in 2015. At Wells Fargo, Price will jointly report to Tim O'Hara, head of banking and Scott Warrender, head of coverage within the banking unit.

Persons: Malcolm Price, Price, Tim O'Hara, Scott Warrender, Pritam Biswas, Shailesh Organizations: REUTERS, Credit Suisse, UBS Group, Thomson Locations: Wells Fargo Bank, New York City, U.S, Wells, Swiss, Wells Fargo, Bengaluru

☆ Activists cover Rishi Sunak’s mansion in black cloth after climbing onto the roof with ropes and ladders
▼ + stars: | 2023-08-03 | by ( Martin Goillandeau Chris Liakos Laura Paddison | Martin Goillandeau | Chris Liakos | ) edition.cnn.com time to read: +3 min

CNN —Climate activists draped black cloth over British Prime Minister Rishi Sunak’s private mansion in northern England on Thursday, in a protest against his policy to “max out” the UK’s oil and gas resources in the North Sea. Four demonstrators from the environmental group Greenpeace managed to climb onto the Conservative party leader’s manor house in his North Yorkshire constituency of Richmond early Thursday. They used ladders and climbing ropes to access the roof, where they unraveled 200 square meters of “oil-black fabric” to cover part of the mansion, Greenpeace said in a statement. Greenpeace said Sunak’s announcement is a blow to the UK’s environmental goals. “We desperately need our prime minister to be a climate leader, not a climate arsonist,” said Philip Evans, Greenpeace UK’s climate campaigner.

Persons: Rishi, Sunak, greenlighting Rosebank, “, ”, Philip Evans, ” Evans, Downing, Putin, Kirby Sigston Organizations: CNN —, British, ., Greenpeace, Conservative, Richmond, International Energy Agency, Downing Street, CNN, Downing, North Yorkshire Police Locations: England, North, North Yorkshire, Europe, Southeast Asia, greenlighting, Kirby

☆ China's energy security push drives up fossil fuel approvals - research
▼ + stars: | 2023-08-03 | by ( David Stanway | ) www.reuters.com time to read: +4 min

"China's government has put energy security and energy transition at odds with one another," said Greenpeace's Gao Yuhe, who led the research published on Thursday. "Beijing has clearly stated that coal power will still grow at a 'reasonable pace' into 2030," she said. China's National Energy Administration (NEA) did not immediately reply to a fax sent requesting a comment on the coal plants and their power generation policies. The increase in China's coal usage reflects a worldwide pattern. The International Energy Agency said last week that global coal consumption reached a record 8.3 billion tons in 2022, with strong growth in Asia offsetting declines elsewhere.

Persons: David Gray, Gao Yuhe, Xi Jinping, Gao, Jorrit Gosens, David Stanway, Christian Schmollinger Organizations: Mongolia Autonomous, REUTERS, Companies Greenpeace, Greenpeace, National Energy Administration, International Energy Agency, National Development, Reform Commission, European, Global Energy Monitor, Australian National University, NEA, Thomson Locations: Baotou, China's, Mongolia, Mongolia Autonomous Region, SINGAPORE, China, Beijing, Asia, European Union

☆ Earnings beat and raise gives this underappreciated U.S. industrial stock the boost it deserves
▼ + stars: | 2023-08-02 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Emerson also saw better-than-expected profit margin performance and robust cash flow. Topping it all off, management raised their earnings outlook and sales growth forecast to ranges above what analysts had been expecting. As for cash flow, management offered up a slight increase to their full-year forecast, at the midpoint. Operating cash flow is now expected to be in the range of $2.5 billion to $2.6 billion (versus $2.63 billion expected) while free cash flow is expected to come in between $2.2 billion and $2.3 billion (versus $2.21 billion expected). This compares to prior operating cash flow and free cash flow targets of about $2.5 billion and roughly $2.2 billion, respectively.

Persons: outperformance, Emerson, we're, Jim Cramer's, Jim Cramer, Jim, Emerson Electric's, Timothy Aeppel Organizations: Emerson Electric, Club, Software, Control, Caterpillar, Emerson, NI, National, EV, Devices, Safety, Productivity, CAT, CNBC Locations: Marshalltown , Iowa

☆ Republicans struggle to diverge from Bidenomics
▼ + stars: | 2023-08-01 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

Florida Governor and Republican U.S. presidential candidate Ron DeSantis attends a barbecue hosted by former diplomat Scott Brown, as part of his "No B.S. WASHINGTON, Aug 1 (Reuters Breakingviews) - Republicans with ambitions to move into the White House have a love-hate relationship with Bidenomics. A continued push for true “energy independence” probably would look more like Biden’s strategy than anything else. The agenda includes 10 core tenets, including greater independence from China, energy independence and promoting domestic investment. He called for “aggressive new restrictions” on Chinese ownership of U.S. infrastructure in a Jan. 18 campaign video and emphasized domestic energy independence in a Feb. 9 video.

Persons: Ron DeSantis, Scott Brown, Bidenomics, Donald Trump, Joe Biden’s, DeSantis, “, Biden, Trump, ”, Jeffrey Goldfarb, Sharon Lam Organizations: Republican U.S, Reuters, Economic, Federal Reserve, Trump, Energy Information Administration, “, Florida, Former U.S, Thomson Locations: Florida, Rye , New Hampshire, U.S, WASHINGTON, ”, Ukraine, Beijing, China, Bidenomics, New Hampshire

SummaryCompanies BP hikes dividend by 10%Will repurchase $1.5 billion of sharesWeak refining, oil trading and high maintenance weighLONDON, Aug 1 (Reuters) - BP's (BP.L) second-quarter profit slumped 70% from a year earlier to $2.6 billion, missing forecasts, as refining margins and oil trading income fell, but still allowing the energy giant to boost its dividend by 10%. BP's underlying replacement cost profit, its definition of net income, missed expectations of $3.5 billion in a company-provided survey of analysts. It fell from $8.5 billion a year earlier and from $5 billion in the first quarter. BP's gearing, or debt-to-capital ratio, stood at 21.7% in the second quarter, compared with 19.6% in the first quarter and 21.9% a year earlier. For the third quarter, BP expects oil prices to be supported by OPEC supply cuts alongside above-historical-average refining margins helped by lower inventories and U.S. demand.

Persons: Bernard Looney, Looney, Biraj Borkhataria, Ron Bousso, Jason Neely Organizations: Rivals Chevron, Exxon Mobil, Shell, BP, Reuters, Reuters Graphics Reuters, RBC, Thomson Locations: Ukraine, Germany

☆ EU ready to strengthen maritime security cooperation with the Philippines
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

[1/4] Philippine President Ferdinand Marcos Jr., claps beside European Commission President Ursula von der Leyen, after signing ceremonies at the Malacanang Presidential Palace in Manila, Philippines, July 31, 2023.Aaron Favila/POOL via REUTERSMANILA, July 31 (Reuters) - The European Union is ready to strengthen cooperation with the Philippines on maritime security, European Commission President Ursula von der Leyen said on Monday, as she stressed the importance of a free and open Indo-Pacific region. She was speaking after a meeting with Philippine President Ferdinand Marcos Jr. in Manila where the two leaders discussed a range of issues from security and trade to climate change. "We are ready to strengthen the cooperation with the Philippines on maritime security in the region by sharing information, conducting threat assessment and building the capacity of your coast guard," she said in a joint press conference with Marcos. Von der Leyen on Monday reaffirmed the EU's support for a 2016 international arbitration ruling that invalidated Beijing's expansive claims, saying the ruling is legally binding and provides the basis for resolving disputes peacefully. Von der Leyen also said the European Union will support the Philippines' fight against climate change, which is a priority for Marcos as he pushes to increase renewables in the country's power mix to 35% by 2030.

Persons: Ferdinand Marcos Jr, Ursula von der Leyen, Aaron Favila, Marcos, Von der Leyen, Karen Lema, Neil Jerome Morales, Kanupriya Kapoor Organizations: Philippine, European, REUTERS, European Union, Thomson Locations: Manila, Philippines, REUTERS MANILA, The Philippines, United States, China, South China, European

☆ The UK will drill for more oil and gas in the North Sea
▼ + stars: | 2023-07-31 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —The UK government has announced plans to allow a big expansion of drilling for oil and gas in the North Sea in a move that environmental activists have described as a taking a “wrecking ball” to the country’s climate commitments. “Even when we’ve reached net zero in 2050, a quarter of our energy needs will come from oil and gas. He also announced plans to build two new carbon capture and storage sites in the North Sea, to be completed by 2030, which would take the country’s total to four. The licensing process, overseen by the North Sea Transition Authority, will be more flexible to allow companies to drill near currently licensed areas, “unlocking vital reserves which can be brought online faster,” Sunak’s office said in a statement. “[The project] is a central part of plans to decarbonize North Sea operations, and to store emissions from other parts of Scottish industry,” he said.

Persons: Rishi Sunak, we’ve, ” Sunak, Simon Roddy, ”, ” Lyndsay Walsh, Philip Evans, “, ” Evans Organizations: London CNN, International Energy Agency, Transition, Shell, ”, Greenpeace UK, Conservative, Labour Party Locations: North, Scotland, loggerheads

☆ Analysis: Why Republicans can't get out of their climate bind, even as extreme heat overwhelms the US
▼ + stars: | 2023-07-30 | by ( Ella Nilsen | ) edition.cnn.com time to read: +9 min

“We need to be talking about this,” Rep. John Curtis, a Republican from Utah and chair of the House’s Conservative Climate Caucus, told CNN. “The good news is Republicans are stopping arguing with thermometers,” Inglis told CNN. “I think the evidence so far is that the West is getting drier and hotter,” Romney told CNN. He later told CNN the GOP is “way behind” on climate and there’s been “too little” progress on the party’s stances. “I think we’d get a lot more done with a Democratic House, a Democratic president and continuing to have a Democratic Senate,” Schumer told CNN.

Persons: they’re, Donald Trump, Trump, it’s, ” Sen, Mitt Romney, “, Donald Trump’s, ”, ” Rep, John Curtis, Bob Inglis, ” Inglis, Romney, Curtis, ” Romney, Sen, Francis Chung, Mead, ‘, ’, Curtis ’, Kevin McCarthy, Eva Marie Uzcategui, Chuck Schumer, ” Schumer, “ Regrettably, ” Edward Maibach, “ Donald Trump’s, Inglis, “ That’s Organizations: CNN, GOP, ”, Republican, Conservative Climate Caucus, Republicans, South Carolina Rep, AP, Democrats, Senate, Rep, Utah Republican, Bloomberg, New York, Democratic, Democratic Senate, Republican House, Senate Super, Representatives, Trump, George Mason University, Yale University Locations: Utah, Arizona, AP Utah, Powell, Salt, Curtis, Curtis ’ Utah, Ohio, New, ”, America

☆ Goldman names China stocks set for a bounce — and 2 make its list of top buy-rated picks
▼ + stars: | 2023-07-28 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Goldman Sachs has identified a number of Chinese stocks to buy after the government announced a number of major fiscal stimulus measures this week. The bank added that it expects Chinese stocks to "trade better" in the coming months. Goldman screened for buy-rated stocks in several areas related to China's policy announcement, including internet giants Tencent and JD , as well as its medical platform JD Health . In real estate, Goldman is buy-rated on property software company Beike and on mobile components company BYD Electronic as well as online recruitment firm Kanzhun . Search engine giant Baidu and drinks company China Resources Beer are also picks of the bank, and appear on its Asia-Pacific conviction list of top buy-rated stocks.

Persons: Goldman Sachs, Kinger Lau, Goldman, — CNBC's Michael Bloom, Clement Tan Organizations: country's Communist Party, Tencent, Baidu, China Resources Locations: China, Asia

☆ Wind and solar are propping up the Texas power grid amid a brutally long heat wave
▼ + stars: | 2023-07-28 | by ( Ella Nilsen | ) edition.cnn.com time to read: +4 min

Thank wind and solar, energy experts say. “The thermal plants have bounced up and down,” Lewin told CNN, saying thermal plant outages during heatwaves have been high by Texas grid manager ERCOT’s own standards. The state is also rapidly installing battery storage, to store wind and solar energy when the sun isn’t shining and wind isn’t blowing. “I think what they’re leaving out is the intermittency of the thermal plants, they continue to neglect that,” Lewin said. That’s not to say renewables are a panacea, but the point is thermal plants are also not a panacea.”

Persons: ” Michael Webber, “, Doug Lewin, Webber, ” Lewin, ERCOT’s, Mark Felix, ”, ERCOT, Lewin, that’s Organizations: CNN, Texas, “ Renewables, University of Texas, Energy Information Administration, Renewables, Energy, US Energy Information Administration, Lone Star Locations: Austin, Texas, Hill County , Texas, AFP, Gulf of Mexico

☆ These are the states in America that are the least prepared for extreme weather
▼ + stars: | 2023-07-28 | by ( Scott Cohn | ) www.cnbc.com time to read: +11 min

Some states are in good shape to handle whatever the climate throws at them, but these are the states most at risk. 2023 Infrastructure score: 228 out of 390 points (Top States grade: B) Climate Extremes Index: 21.16% Properties at risk: 45.2% Renewable energy: 10.6%9. 2023 Infrastructure score: 165 out of 390 points (Top States grade: D) Climate Extremes Index: 8.7% Properties at risk: 2.8% Renewable energy: 12%8. Connecticut is home to the nation's first "green bank," which uses public dollars to leverage private investment in renewable energy. 2023 Infrastructure score: 227 out of 390 points (Top States grade: B) Climate Extremes Index: 21.16% Properties at risk: 61% Renewable energy: 12.5%1.

Persons: Jeremy Porter, York Snow, Joed Viera, Kelly Giddens, Daniel Hinton, Jessica Mcgowan, wades, Tim Boyle, Tony Evers, Scott Olson, Josh Edelson, Gavin Newsom, —, Marcellus, Tom Wolf, Josh Shapiro, Ida, Brendan McDermid, Hurricane Ida, Richard Bunting, Alex Hamilton, Hurricane Irene, Mark Wilson, Joe Biden's, Ted Shaffrey, Hurricane Nicole, Paul Hennessy, Marco Bello Organizations: Street Foundation, CNBC, Business, First, Oceanic, Atmospheric Administration, NOAA, U.S, Department of Energy, Afp, Getty, National Weather Service, Micron Technology, Alabama, University of Alabama, Illinois —, Badger State, Gov, Carolina, Carolinas, AFP, EQT Corp, Bloomberg, Reuters, Garden, State, Anadolu Agency, Sunshine State, Farmers Insurance, AAA Locations: States, York, Buffalo , New York, Empire, New York, Syracuse, Alabama TUSCALOOSA, AL, Cedar, Tuscaloosa , Alabama, Texas, Oklahoma, Alabama, Gulf, Wisconsin, Prairie du Chien , WI, Hurricane, Charleston , South Carolina, Florida, Georgetown , South Carolina, South Carolina, California, Oroville, Oroville , California, , California, Pennsylvania, Washington Township , Pennsylvania, U.S, Jersey, Oakwood, Elizabeth , New Jersey, Garden State , New Jersey, New Jersey, Delaware, Lewes , Delaware, Rhode, Connecticut, New Haven , Connecticut, Wilbur, , Florida, Louisiana, Kenner , Louisiana

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