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☆ The world’s future energy wars will be fought under the sea
▼ + stars: | 2024-06-26 | by ( Angela Dewan | ) edition.cnn.com time to read: +12 min

The technology to store renewable energy for long periods hasn’t quite been mastered, either. The interconnector would send renewable energy both east and west, taking advantage of the sun’s diurnal journey across the sky. The transatlantic interconnector is still a proposal, but networks of green energy cables are starting to sprawl across the world’s sea beds. They are fast becoming part of a global climate solution, transmitting large amounts of renewable energy to countries struggling to make the green transition alone. Not all of them carry renewable power exclusively — that’s sometimes determined by what makes up each country’s energy grid — but new ones are typically being built for a green energy future.

Persons: there’s, ”, Simon Ludlam, “ We’ve, we’ve, Fadel Senna, Paul Ellis, Biden, Laurent Segalen, Energy’s Ludlam, “, you’ve, you’re, Trump, Dmitry Peskov, George Dyson, Dyson, Morten Kruger, Frank Schneider, Alberto Rizzi, ” Rizzi Organizations: London CNN, Etchea Energy, Getty, Burbo, Sun Cable, Initiative, NATO, European Council, Foreign Relations, United, European Union Locations: New York, California, Britain, Europe, North America, Canada, France, East Coast, United States, Paris, Belgium, Norway, Netherlands, Denmark, Morocco, Moroccan, Ouarzazate, AFP, English, New Brighton, Australia, Singapore, India, Saudi Arabia, Asia, East, Beijing, London, Russia, China, Germany, Ukraine, Finland, Sweden, Baltic, Western Europe, North, Russian, Aqaba, Jordan, Taba, Egypt, Red, America, EU

☆ UBS says renewable energy can meet 70% of electricity demand growth — these stocks benefit
▼ + stars: | 2024-06-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The growing electricity demand from corporate America, particularly Big Tech, and the retirement of coal plants across the U.S. are creating a major opportunity for renewable energy, according to UBS. UBS sees solar and wind supplying 40% and 30% of the power demand, respectively, while natural gas will meet the remaining 30%. At the same time, "there is a straight line of direct incremental demand and financial support for renewables as corporate electricity demand increases through their 100% clean energy or 100% renewable commitments," the analysts said. Overall, solar will grow to 12.5% of electricity generation by 2030, up from less than 6% in 2023, according to UBS estimates. "There is likely a substantial market opportunity to provide reliable electricity generation and direct infrastructure for data centers," the analysts said.

Persons: Jon Windham Organizations: Big Tech, UBS, U.S, Microsoft, Google, Amazon, Companies, Nike, Pepsi, Starbucks, Meta, Energy, Technologies Locations: America, U.S

☆ The Chef Is Human. The Reviewer Isn’t.
▼ + stars: | 2024-06-24 | by ( Pete Wells | ) www.nytimes.com time to read: +1 min

The crust, kissed by the intense heat of the coal-fired oven, achieves a perfect balance of crispness and chew. Topped with freshly shucked clams, garlic, oregano and a dusting of grated cheese, it is a testament to the magic that simple, high-quality ingredients can conjure. I would never pronounce any food a revelation, or describe heat as a kiss. But these lazy descriptors are so common in food writing that I imagine many readers barely notice them. But as much as it pains me to admit, I’d guess that many people would say it’s a four-star fake.

Persons: Frank Pepe, Pete Wells, Pete Locations: New Haven, Conn

☆ China growth worries have hit a big alcohol stock. Why some analysts see a buy opportunity
▼ + stars: | 2024-06-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

"Flying Fairy," a 53% alcohol from Shanghai-listed Kweichow Moutai , saw wholesale prices drop by more than 5% in a week. He agreed the drop in wholesale prices won't have a big impact on Moutai's immediate earnings. What's also different about Moutai's stock decline is that investors aren't rushing in to bottom fish as they have in the past, Ye said. "The recent wholesale price drop we think is mostly triggered by the arbitragers in the market," Morningstar's Song said. She expects wholesale prices to increase in coming months given major Chinese holidays in the fall.

Persons: stoking, That's, Jennifer Song, Song, Kweichou Moutai, Ye Yuhua, What's, Ye, Moutai, Huatai, Moutai's, Goldman Sachs Organizations: Nomura, Morningstar, Stock, Capital, Financial Holdings, JPMorgan, Macquarie Locations: Shanghai, Guangzhou, Hainan

☆ This technology could transform one of the world’s dirtiest industries. Experts say it’s way off pace
▼ + stars: | 2024-06-23 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +11 min

This complex will be world’s first large-scale “green steel” project, according to H2 Green Steel, the Swedish company behind the multi-billion-dollar mill. Dhiraj Singh/Bloomberg/Getty ImagesWhile projects like H2 Green Steel show momentum is growing, experts say the pace is far too slow. Northern Sweden is also home to the HYBRIT green steel pilot plant — which is one step ahead. US Secretary of State Antony Blinken speaks during a visit to Hybrit Steel Plant in Lulea, Sweden, on May 30, 2023. But there’s also the challenge of producing large amounts of green hydrogen, which will require huge amounts of renewable energy.

Persons: Peter Boer, Dhiraj Singh, ”, Mohamed Atouife, Daniel Acker, ” Atouife, HYBRIT, Biden, Antony Blinken, Jonas Ekstromer, Martin Pei, SSAB, ” Pei, Chathurika, Caitlin Swalec, Jonathan Nackstrand, Pei, there’s, –, Philipp Verpoort, “ It’s, Princeton’s, Swalec, Chris Greig, ” Greig, RMI’s Gamage Organizations: CNN, Green Steel, Tata Steel, Bloomberg, Getty, Rourkela Steel, Princeton University, Volvo, Hybrit Steel, TT, Agency, AFP, “, Mountain Institute, Global Energy Monitor, Potsdam Institute, Climate Impact, Potsdam, Princeton University’s Andlinger Center for Energy, Workers, Jiangsu Shagang, Co, European Union Locations: Sweden, Boden, Swedish, Wijk aan, Netherlands, Odisha, India, Indiana, Portage , Indiana, Northern Sweden, Cleveland, Ohio, Middletown, Mississippi, Lulea, Luleå, AFP, China, Europe, Japan, Jiangsu, Huai'an, Jiangsu Province, European

☆ Footage appears to show deadly Houthi sea drone strike on cargo ship in the Red Sea
▼ + stars: | 2024-06-22 | by ( Cameron Manley | ) www.businessinsider.com time to read: +3 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFootage released by Yemen's Houthi rebels appears to show the militant group attacking a cargo ship in the Red Sea with sea drones. The MV Tutor is the second ship that the Houthis have successfully sunk this year. The British-owned Rubymar also sank in the Red Sea after it was struck by a missile fired by the group.

Persons: —, Yemen's Houthi, Dwight D, John Kirby, CENTCOM, Rubymar, Bryan Clark, Navy submariner Organizations: Service, Business, UK's Maritime Trade Operations Center, Liberian, UK's Royal Navy, US Navy, Eisenhower Carrier Strike Group, White, US Central Command, U.S, Navy, Hudson Institute, Associated Press Locations: Iranian, Philippines, Yemen, U.S, British, Red, Aden, Israel, Gaza, Africa

☆ Power outage hits Balkan states as heat overloads system, minister says
▼ + stars: | 2024-06-22 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Montenegro’s energy minister said the shutdown was caused by a sudden increase in power consumption brought on by high temperatures, and by the heat itself overloading systems. “This was just waiting to happen in this heat,” Gentiana, a 24-year-old student in Montenegro’s capital Podgorica, told Reuters. Suppliers in the four countries said they started restoring supply by mid-afternoon and power was largely back by the evening. Power in Albania was restored within half an hour, but the country remained at a high risk of further shutdowns as power usage and heat levels were still high, he said. Western Balkan nations have seen a boom in solar energy investment, meant to ease a power crisis that had threatened a shift away from coal.

Persons: ”, Sasa Mujovic, Belinda Balluku, Balluku Organizations: CNN, Reuters, Suppliers, Air, HRT, Albanian Energy, North Macedonia’s Energy Regulatory Commission Locations: Montenegro, Bosnia, Albania, Croatia’s, Balkans, Montenegro’s, Podgorica, European, Bosnia’s, Sarajevo, Banja Luka, Mostar, Croatian, Split, Greece, Croatia

☆ This pipeline stock could surge 17% on rising natural gas prices and coal phaseout, Argus says
▼ + stars: | 2024-06-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Pipeline operator Williams Companies offers a way for investors to play rising natural gas prices as demand grows due to the transition away from coal, according to the research firm Argus. "Our upgrade largely reflects our more bullish stance on natural gas prices," analyst Bill Selesky told clients in a research note Thursday. Demand for natural gas should rise due to hot weather conditions and the transition from coal to gas, while supply is constrained and inventories are low, the analyst said. The pipeline operator has rallied as natural gas prices have bounced back 70% over the past two months. "The power-hungry world we live in is rapidly turning to natural gas to generate this power," Armstrong said.

Persons: Williams, Bill Selesky, Selesky, Jenny Harrington, CNBC's, Harrington, Wells, Alan Armstrong, Armstrong Organizations: Williams Companies, Argus, U.S, Energy Information Administration, Williams, Asset Management, Street Locations: U.S, midstream, Tuesday's, Wells

☆ Red Sea crisis: The shipping industry is sounding the alarm as another vessel sinks
▼ + stars: | 2024-06-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Leading shipping groups have urged governments “with influence” to put a stop to Houthi attacks on vessels in the Red Sea after a second freighter sank this week. The latest sinking is likely to have led to another death, according to a statement Wednesday from more than a dozen shipping associations, including the International Chamber of Shipping and the World Shipping Council. The longer diversion around the southern tip of Africa has sent shipping costs soaring and is causing congestion at ports in Asia and Europe, threatening to scramble global supply chains. We call for states with influence in the region to safeguard our innocent seafarers and for the swift de-escalation of the situation in the Red Sea,” they added. “Houthi attacks continue to make the Red Sea unsafe, and increases in charter activity and rates indicate carriers expect congestion to remain a factor for some time,” he added.

Persons: ”, “, Hapag Lloyd, Judah Levine Organizations: London CNN, International Chamber of Shipping, World Shipping Council, Maritime Trade, Royal Navy, Shipping, Maersk, Drewry, Carriers Locations: Red, Africa, Asia, Europe, ., Yemen, Gaza, Suez, London, Red Sea, Singapore, Malaysia, Shanghai, China, Barcelona, Spain

☆ Climate change: Fossil fuel use and emissions hit record highs as world struggles with deadly heat, storms and fires
▼ + stars: | 2024-06-20 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

Last year was “another year of highs in our energy hungry world,” said Juliet Davenport, president of the Energy Institute. Overall, the proportion of fossil fuels in the 2023 global energy mix remained largely the same at 81.5%, down just 0.5% from the previous year. India’s fossil fuel consumption was up 8% last year and, for the first time ever, the country used more coal than Europe and North America, combined. Dhiraj Singh/Bloomberg/Getty ImagesIn China, fossil fuel use soared to a new record high in 2023, up by 6%, as the end of its extended Covid lockdowns led to a rebound in fossil fuels. Fossil fuel use in major advanced economies is likely to have peaked and is beginning to fall, it found.

Persons: ’, Sharma, Anthony Behar, SIPPL, ”, Juliet Davenport, Dhiraj Singh, lockdowns, Simon Varley, Dave Jones Organizations: CNN, Energy Institute, Getty, “, US, Bloomberg, Resources, KPMG Locations: Mecca, Saudi Arabia, India, New Delhi, Queens, New York City, NY, Europe, North America, Visakhapatnam, Andhra Pradesh, China, Paris

☆ Britain's Stonehenge sprayed with paint by environmental protesters
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +1 min

Tourists visit the Stone Age monument Stonehenge. The Stonehenge stone circle, which was declared a UNESCO World Heritage Site in 1986, is one of the most famous landmarks in Great Britain. Environmental protesters sprayed paint on Britain's Stonehenge on Wednesday, with footage online showing orange marks covering some of the stones of the world-famous prehistoric megalithic structure. In video released by environmental group Just Stop Oil, two protesters were seen running towards two of Stonehenge's megaliths and spraying paint as another person attempted to stop them. The monument in southern England is a UNESCO World Heritage Site and one of Britain's most visited tourist spots.

Persons: Gogh Organizations: UNESCO, Heritage Locations: Great Britain, England, Britain

In 2023, Texas led the nation in solar installations on its power grid, surpassing California for its second consecutive year. Explosive power demand poses a challenge to the Biden administration's goal of converting the U.S. power grid to 100% clean electricity by 2035. Nextracker is a leading U.S. solar firm, building systems that allow panels to track to the position of the sun, improving the efficiency of solar power plants. Shugar pointed to the massive number of renewable projects in the U.S. seeking connection to the power grid. But as energy demand increases, the value of each additional hour should rise, eventually making longer duration batteries more cost effective, he said.

Persons: Brandon Bell, Andrés Gluski, Joseph Rand, We've, Kelley, Wells, Goldman Sachs, Biden, Ryan Sweezey, Wood Mackenzie, Richard Kinder, Kinder Morgan, Kinder, Amin Nasser, Nasser, Shugar, Lawrence, Lazard, Nextracker's Shugar, Lawrence Berkeley, Amol Phadke, Rand, Sweezey, Reid Ramdathsingh, Ramdathsingh, Fluence, John Zahurancik, Zahurancik, it's, Zahuranick Organizations: Getty, Renewables, Energy Information Administration, Department of Energy, Big Tech, Microsoft, AES Corporation, Google, AES, Meta, UBS, Solar, Lawrence Berkeley National Laboratory, U.S, Tech, North America, DOE, CNBC, University of California Berkeley's Goldman School of Public, Goldman School, Lawrence, Rystad Energy, Siemens Locations: Ector County , Texas, Texas, California, United States, U.S, Wells Fargo, Saudi, Houston, Lawrence Berkeley, Fluence's Americas

☆ The UAE is set to be the No. 1 'wealth magnet' in the world, new report shows
▼ + stars: | 2024-06-19 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

The UAE expects to see a net inflow of 6,700 millionaires from around the world by the end of 2024, according to new research. The tiny Gulf nation is expected to see an unprecedented net inflow of 6,700 millionaires from around the world by the end of 2024, according to the report released on June 18. That's according to new research by Henley Private Wealth Migration Report . The United Arab Emirates is set to be the world's leading wealth magnet for the third year in a row. The data for the report was supplied by global wealth intelligence firm New World Wealth and features insights on the inflows and outflows of millionaires and their migration patterns globally.

Persons: Dominic Volek, Hannah White Organizations: Henley Private Wealth, United, Henley & Partners, Henley, Partners, Singapore, Institute for Government, Millionaires Locations: UAE, United States, United Arab Emirates, Henley, States, America, Singapore, Canada, Australia, Italy, Switzerland, Greece, Portugal, Japan, East, India, Russia, Africa, United Kingdom, Europe, Asia, China, Kingdom, Korea, Brazil, Taiwan, Taipei, Nigeria, Vietnam

☆ Two climate protesters spray Stonehenge with orange paint and call for an end to burning fossil fuels
▼ + stars: | 2024-06-19 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +1 min

Two climate protesters were arrested for spraying orange powder paint on Stonehenge. The protesters were part of Just Stop Oil, a group demanding that the UK phase out fossil fuels. English Heritage, which manages Stonehenge, criticized the vandalism but said the site is open. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Just Stop Oil is demanding that the incoming UK government commit to ending the extraction and burning of oil, gas, and coal by 2030.

Organizations: Service, Business Locations: Wiltshire, England

☆ Opinion: If Dolly Parton can be canceled, we’re in serious trouble
▼ + stars: | 2024-06-19 | by ( Opinion Allison Hope | ) edition.cnn.com time to read: +6 min

CNN —The most uncancellable person in US History — iconic American singer, songwriter and actress, Dolly Parton — has been caught in the crosshairs of cancel culture. Have the haters run afoul and gone and ruined Dolly Parton as the magical unifier that she has long been known for? But Dolly Parton slid through over the past years, decades even, largely unscathed by the polarization and division. Indeed, the pitchforks coming for Dolly Parton serve as an apt reminder of America’s decline and sheer terror of the evitability of civil war. That is, if we can heal from this episode and uncancel Dolly Parton.

Persons: Allison Hope’s, Dolly Parton —, Barbie, Parton, Allison Hope, Allison Hope Parton, Ericka Andersen, ” Andersen, ”, Dolly, “, Dolly Parton, “ Jolene, Taylor Swift, Kanye West, —, Dolly Patron, “ Jolene ” Organizations: CNN, Yorker, The New York Times, Washington, Federalist, Democratic, Twitter, Alabama hillbillies Locations: Slate, Switzerland, Conservative, Covid, California, Forge , Tennessee, America

☆ Houthi attacks in the Red Sea: Ship attacked by Iran-backed rebels believed to have sunk
▼ + stars: | 2024-06-19 | by ( Niamh Kennedy | Michael Rios | ) edition.cnn.com time to read: +2 min

CNN —A Greek-owned coal carrier appears to have capsized in the Red Sea days after it was struck by Iranian-backed Houthi rebels, according to a report published by the UK Maritime Trade Operations (UKMTO). The MV Tutor is thought to be the second ship sunk by Houthis since March, when the British-registered vessel Rubymar was downed after being struck by ballistic missiles fired from Houthi territory in Yemen. The rebels have launched dozens of missile and drone attacks directed at ships in the Red Sea and Gulf of Aden since Israel launched its invasion of Gaza following the Hamas-led October 7 attacks. Israeli attacks in Gaza have since killed at least 37,396 Palestinians and injured another 85,523 people, according to the Ministry of Health there. Dozens of ships have been attacked in the Red Sea, as regional tensions flare over Israel's war in Gaza.

Persons: Christian Domarique, Sta Rosa, “, Al Masirah, CENTCOM Organizations: CNN, UK Maritime Trade Operations, Hamas, Ministry of Health, Getty, US Central Command Locations: Red, Iranian, British, Yemen, Gulf of Aden, Israel, Gaza, Metro Manila, AFP

☆ ‘Inadvertent geoengineering’: Researchers say low-sulfur shipping rules made climate change worse
▼ + stars: | 2024-06-19 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

That's because the sulfur dioxide, a pollutant which forms when sulfur-containing fuel such as coal or petroleum oil is burned, reacts with water vapor to produce aerosols that reflect sunlight back into space. The aerosols have a direct cooling effect, though climate scientists note that their contribution to global cooling or warming when they are reduced remains a complex area of research. Extreme temperatures are fueled by the climate crisis, the chief driver of which is the burning of fossil fuels. All of the climate models will give you slightly different answers because of the way that they do their emissions of sulfur dioxide," Haywood said. "So, we are uncertain about how much impact the IMO regulations will have had on global mean temperatures."

Persons: Yuan, Laura Wilcox, everyone's, Jim Haywood, Haywood, You've, Jim Hansen Organizations: United Nations, International Maritime Organization, Ucg, Getty, Communications, University of Maryland, National Centre for Atmospheric Science, University of Reading, El Nino, University of Exeter, CNBC, El, NASA Locations: London, Europe, Tonga

☆ Chinese officials’ attempt to ‘block’ formerly detained journalist mars Australia goodwill tour
▼ + stars: | 2024-06-17 | by ( Simone Mccarthy | Angus Watson | ) edition.cnn.com time to read: +6 min

CNN —Chinese Premier Li Qiang’s four-day visit to Australia this week was set to be focused on repairing long-strained relations between the two countries. But apparent efforts by Chinese officials to stand in front of an Australian reporter during a press briefing have shone a spotlight back on frictions between the countries. Beijing has also long been condemned by Western nations and rights groups for wrongful and arbitrary detentions. 2 official, to Australia is the highest-level trip to a US-allied country of any Chinese official in seven years. Speaking alongside Li following the signing ceremony, Albanese called the visit “another important step in stabilizing” the relationship.

Persons: Li Qiang’s, Cheng Lei, Li, Anthony Albanese, Cheng, I’m, ” Cheng, Albanese, ”, Yang Hengjun, Yang, Li Qiang, Lukas Coch, ” Li, Scott Morrison Organizations: CNN, Sky News Australia, Australian, Sky News, Guardian, Daily Telegraph, CGTN, Australia's, AP Pandas, Sunday, Adelaide Zoo, New Zealand Locations: Australia, China, Canberra, Beijing, Australian, US, “, New, Chinese

☆ Bird Flu Is Infecting Cats (and the Occasional Dog). Here’s What to Know.
▼ + stars: | 2024-06-17 | by ( Emily Anthes | ) www.nytimes.com time to read: +1 min

Over the past few months, a bird flu outbreak has spread swiftly through dairy cows in the United States, infecting more than 90 herds in 12 states. On some dairy farms, sick or dead cats have provided an early signal that something was amiss. Scientists have long known that cats are vulnerable to being infected by avian influenza, a group of flu viruses typically found in birds. In 2020, a new version of a bird flu virus, known as H5N1, emerged. It has spread rapidly around the world, infecting many wild birds and repeatedly spilling over into mammals, including cats.

Persons: Kammy Johnson Organizations: Agriculture Department Locations: United States

CNN —China will provide a new pair of giant pandas to Australia, Premier Li Qiang said on Sunday, in the latest sign of warming relations between the two countries. He said China will send a new pair of giant pandas to the zoo in Southern Australia after its current pair return to China later this year, according to Chinese state media. Australia's Foreign Minister Penny Wong (left) shakes hands with China's Premier Li Qiang as South Australian Premier Peter Malinauskas looks on at Adelaide Zoo on June 16, 2024. Giant pandas Wang Wang and Fu Ni, the only pandas in the southern hemisphere, have been on loan to Adelaide Zoo since November 2009. “They have become envoys of friendship between China and Australia, and a symbol of the profound friendship between the two peoples,” Li said in the statement.

Persons: Premier Li Qiang, Li, Scott Morrison’s, Penny Wong, Peter Malinauskas, Asanka, Wang Wang, Fu Ni, China’s, ” Li Organizations: CNN, Premier, Adelaide Zoo, ABC, Labor, Australia's, South Australian, Beijing –, Xinhua, China’s Foreign Ministry, “ Locations: China, Australia, Southern Australia, Beijing

☆ How the makers of Catan: New Energies reworked the board game to address the climate crisis
▼ + stars: | 2024-06-14 | by ( Saira Mueller | ) edition.cnn.com time to read: +10 min

This is, says Kowert, because “games reflect culture.”Adding climate crisis elements to games can also make the topic more accessible, Kowert says. On the side of the Catan: New Energies board, a little black marker tracks the level of greenhouse gasses in the current game. It can also trigger the early end of the game, in which case the player with the most renewable power plants wins. Players can add green discs to the bag — which can give players using renewable energy bonuses — by building renewable power plants. When development on New Energies started in 2011 there were three renewable energy sources: wind, water and solar.

Persons: ” Rachel Kowert, “, Catan, Erik Assadourian, ”, Benjamin Teuber, Klaus Teuber, Teuber, Assadourian, Kelli Schmitz, playtesters Organizations: CNN, Storm, ”, Catan, Worldwatch Institute, Catan GmbH, Development, Brand Development Locations: Springs, United States

☆ Trump Once Promised to Revive Coal. Now, He Rarely Mentions It.
▼ + stars: | 2024-06-14 | by ( Lisa Friedman | ) www.nytimes.com time to read: +1 min

The first time Donald J. Trump ran for president, he slapped on a miner’s helmet and told coal workers they would be “winning, winning, winning” when he entered the White House. Now, as Mr. Trump campaigns for another chance at the presidency, he rarely mentions America’s coal miners and has stopped making grand promises about their future. Top among them: Mr. Trump oversaw coal’s decline, not its salvation. Despite the fact that Mr. Trump gutted climate regulations and appointed a coal lobbyist to lead the country’s top environmental agency, 75 coal-fired power plants closed and the industry shed about 13,000 jobs during his presidency. “Not a single coal miner went back to work or power plant saved,” said Erin E. Bates, a spokeswoman for the United Mine Workers of America, the labor organization representing coal miners.

Persons: Donald J, Trump, “, ”, Erin E, Bates Organizations: White, United Mine Workers of America

☆ As the heat goes up this summer, so do cooling costs
▼ + stars: | 2024-06-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

The groups projected that the average cost across the country could be $719, a nearly 8% increase from the same period last year. In some regions that figure is higher; in Southern states like Texas, the average cost could hit $858. The forecast for summer cooling costs is based on federal data on regional electric prices, summer temperatures, and residential air conditioning, Wolfe said. Related stories"We are assuming a higher rate of temperature change, and recent heat waves are bearing this out," Wolfe said. Those who do may not turn it on in an effort to avoid higher bills, Wolfe said.

Persons: —, Mark Wolfe, May, Wolfe, Louis — Organizations: Service, Business, National Energy Assistance, Association, Center for Energy, Southwest, US Energy Information Administration, Low Income, Energy Assistance Locations: Southern, Texas, Phoenix, El Paso , Texas, York

☆ Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race
▼ + stars: | 2024-06-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.

Persons: Donald Trump, Eva Marie Uzcategui, —, New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas

☆ Big Oil warned by IEA that peak crude and a major supply surplus are on the horizon
▼ + stars: | 2024-06-12 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

In its latest medium-term market report, titled Oil 2024, the global energy watchdog said oil demand growth was on track to slow down before ultimately reaching its peak of near 106 million barrels per day by 2030. That's up from just over 102 million barrels per day in 2023. At the same time, the IEA expects total oil production capacity to surge to nearly 114 million barrels per day by 2030 — a whopping 8 million barrels per day above projected global demand. The burning of fossil fuels such as coal, oil and gas is the chief driver of the climate crisis. The share of fossil fuels in the global energy supply has stayed at around 80% for decades, according to the IEA, although it expects this to fall to around 73% by 2030.

Persons: Fatih Birol, Birol Organizations: The International Energy Agency, Big Oil, IEA Locations: Monahans , Texas, U.S, OPEC

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