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☆ Why the CEO of a big US homebuilder is gambling on green homes
▼ + stars: | 2024-11-07 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Beazer Homes is building "zero energy," climate-friendly homes even though they're more expensive. Challenges include higher costs, market education, and appraisal practices for green homes. The project was developed by Beazer Homes, one of the largest US homebuilders. Now Beazer has to educate customers and the broader real-estate market about the value of green homes. "Zero Energy Ready" homes feature energy-efficient appliances.

Persons: Allan Merrill, —, Beazer, Merrill, It's, Donald Trump, haven't, Catherine Boudreau, they're, Woody Fincham, there's, Andrew Pizor, hasn't, Beazer isn't Organizations: Service, Energy, Beazer Homes, US Department of, Zero, Appraisal, appraisers, National Consumer Law Center, Congress, EV Locations: Baltimore, decarbonize, Parkville , Maryland, Parkville, Charlottesville , Virginia

☆ The US is on the cusp of a lithium boom to loosen China's grip on EVs
▼ + stars: | 2024-10-31 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +7 min

AdvertisementThe US is on the cusp of a lithium boom after years of laying the groundwork for an electric-vehicle supply chain that doesn't rely on China. The three sites, expected to come online between 2026 and 2028, would massively increase the US's lithium supply. A Tiehm's buckwheat plant in Esmeralda County, Nevada, grows beside where the Rhyolite Ridge lithium-boron mine is planned. AdvertisementRowe said Ioneer redesigned the Rhyolite Ridge mine to limit its footprint in the critical habitat of the endangered wildflower, Tiehm's buckwheat. The Biden administration, in issuing the permit for the mine, said it would not jeopardize the flower's survival.

Persons: —, Biden, Bernard Rowe, VCG, Rowe, Karl Friedhoff, Robyn Beck, Thacker, Ioneer, brines Organizations: Service, EV, Atlantic Council, Chicago Council, Global Affairs, House, Biological Diversity, Biden, Western Shoshone Defense, AP, Resources, Survey Locations: Nevada and California, China, Nevada, Thacker, Australia, South America, Chile, Argentina, Shanghai İnternational Port, Asia, Japan, India, Ioneer, California, Texas, Shoshone, Esmeralda County , Nevada, Oregon, Arkansas

☆ Consumers are in for some relief: Lower energy prices are on the way
▼ + stars: | 2024-10-16 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +5 min

London CNN —For consumers still scarred by jumps in their energy bills in recent years, the International Energy Agency has good news: Oil and natural gas prices will probably be lower over the next five years. Energy prices soared in the wake of Russia’s full-scale invasion of Ukraine in February 2022, which followed a rise in global demand as economies reopened after Covid lockdowns put lives on hold. And that “would move us into a very different energy world from the one we have experienced in recent years during the global energy crisis,” he added in a statement accompanying the IEA’s latest World Energy Outlook report. But global oil output has been increasing, thanks mostly to producers in the United States and other countries in the Americas. The energy body reiterated its previous forecasts that demand for oil, natural gas and coal will peak by the end of the decade.

Persons: Covid lockdowns, Ukraine don’t, Fatih Birol, Birol, ” Birol, “ Organizations: London CNN, International Energy Agency, Energy, Brent, IEA, US, CNN, ” Locations: Ukraine, United States, Americas, Qatar

☆ Google is considering nuclear power to feed its energy-hungry AI data centers
▼ + stars: | 2024-10-04 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Google could one day use nuclear energy to power its AI data centers. Competitors like Amazon and Microsoft are turning to nuclear energy to power their data centers too. AdvertisementIf Google CEO Sundar Pichai's hints on Thursday are any indicator, nuclear energy may one day power some of Google's energy-hungry AI data centers. To be sure, this isn't the first time Google has expressed interest in clean energy alternatives like nuclear energy. In March, Amazon inked a $650 million deal to buy electricity from the Susquehanna nuclear power station, per the Financial Times.

Persons: Sundar Pichai, —, Sundar Pichai's, Pichai, bZnGkp4RnQ Organizations: Google, Microsoft, Service, Nikkei Asia

☆ The woman fighting to save the Philippines’ last rainforests
▼ + stars: | 2024-10-01 | by ( Nell Lewis | John Lewis | ) edition.cnn.com time to read: +5 min

CNN —Palawan, a cluster of islands in the Philippines, is breathtakingly beautiful. According to Global Forest Watch, Palawan had the most tree cover loss in the country between 2001 and 2023. “Our mission is to conserve the Philippines’ last remaining 3% of pristine rainforest through the establishment of national parks,” she says. The island of Palawan is home to much of the Philippines' last remaining pristine rainforest. Duncan A. MurrellNow, their attention has turned to Sultan Peak, a mountain in the southern half of Palawan island, which has no formal protection.

Persons: Karina May Reyes, KM Reyes, ”, Reyes, Duncan A, Murrell, Aubrey Jayne Padilla, ” Reyes Organizations: CNN, Initiative, UNESCO, Global Forest Watch, Sustainability, Philippines ’, CS Locations: Palawan, Philippines, Puerto, Tubbataha, “, Puerto Princesa, Duncan

☆ Fact check: JD Vance and Tim Walz at the vice presidential debate
▼ + stars: | 2024-10-01 | by ( Cnn Staff | ) edition.cnn.com time to read: +32 min

Tim Walz and Republican Sen. JD Vance of Ohio are facing off Tuesday night in New York City for their first – and only – vice presidential debate. Vance mischaracterizes Harris’ role on border policySen. JD Vance claimed that Vice President Kamala Harris was appointed the “border czar” during the Biden administration. Tim Walz and Sen. JD Vance attend a debate hosted by CBS News in New York on Tuesday. A recent report from the US Department of Energy found 142,000 new clean energy jobs were created in 2023. Alex Kent/Getty Images Cutout images of Vance and Walz are displayed at a debate watch party in New York.

Persons: Tim Walz, Republican Sen, JD Vance, Vance mischaracterizes Harris, Sen, Kamala Harris, ”, Biden, Donald Trump, ” Vance, Harris, Alejandro Mayorkas, “, Daniel Dale Minnesota, Mike Segar, Reuters Walz, aren’t, Joe Biden’s, –, CNN’s Ella Nilsen, Joe Biden, Michael Ciaglo, Vance, Springfield , Ohio Sen, you’ve, Mike DeWine, Daniel Dale, Danya, Jessie Wardarski, Kamala Harris “, Donald Trump’s, CNN’s Dana Bash, CNN’s Hannah Rabinowitz, John Modlin, Rebecca Noble, Walz, ” Walz, Al Drago, Matt Rourke, Ken Betancur, Angela Weiss, Joe Raedle, Chip Somodevilla, Norah O'Donnell, Margaret Brennan, Brendan McDermid, Reuters Vance, Julia Demaree Nikhinson, Alex Kent, Victor J, Charly Triballeau, Getty Images Walz, Kevin Wexler, Anna Moneymaker, Trump, Roger Severino, ” –, Norah O’Donnell, Katie Lobosco Vance, CNN’s Manu Raju, Ted Barrett, …, Trump’s, “ Alabama’s, Andrew Kaczynski, Em Steck Vance, unfroze, Wally Adeyemo, Jennifer Hansler Vance, Joe Manchin, Dave Renner, ” Dr, Erin Stevens, ” Stevens, It’s, ” Renner, Jack Forrest Vance, DHS ‘, Kamala Harris ’, General, Immigrations, ” Aaron Reichlin, didn’t, Jack Forrest Organizations: CNN, Democratic Minnesota Gov, Republican, White, Homeland, Central, Daniel Dale Minnesota Gov, CBS News, Reuters, Biden, Senate, US Department of Energy, 2024 Energy, Bidenomics, CS Wind, CS, YES, ” Republican Ohio Gov, New York Times, US, American Civil Liberties Union, Enforcement, Democratic, US Border Patrol, Getty, Heritage Foundation, for Disease Control, CDC, Department of Health, Human Services, Minnesota Gov, CBS Broadcast Center, Bloomberg, People, CBS, Center, Journalists, United Federation of Teachers, Getty Images, USA, New York, Secret Service, Trump, Congress, Fox News, MIT, CNN’s Ella Nilsen Workers, AFP, Tuesday’s, Minnesota Medical Association, American College of Obstetricians, “, DHS, Department of Homeland Security, Homeland Security, Customs Enforcement, ICE, HHS, American Immigration Council, ICE hasn’t, New York Post, Washington Times Locations: Ohio, New York City, El Salvador, Guatemala, Honduras, United States, Mexico, New York, Pueblo , Colorado, Springfield , Ohio, Springfield, ”, US Border Patrol Tucson, Douglas , Arizona, AFP, Minnesota, New, Kendall , Florida, California, Iran, Israel, South Korea, Qatar, China, United States of America, West Virginia, Fuzhou, China's Fujian

☆ Meet the Enigmatic Man Who Oversees Larry Page's Google Fortune
▼ + stars: | 2024-09-16 | by ( Hugh Langley | ) www.businessinsider.com time to read: +22 min

His success has also helped fuel a boom in family offices, a financial structure pioneered by J.P. Morgan and popularized by the Rockefellers. Today there are thousands of family offices globally, with the total number tripling between 2019 and 2023, according to the data provider Preqin. To protect Page, Osborne has long remained hidden, the man behind the megabillionaire's curtain. AdvertisementThe small staff at Koop, Page's family office in Palo Alto, are fiercely committed to Page's privacy. Through his investment in Way2B1, Page is seeking to make money by monetizing the techniques he uses to make money.

Persons: Thomas, Larry Page, Wayne Osborne, Osborne, Koop, —, Wayne, Jeffrey Epstein, Gmail, Page, he's, Larry, Morgan, Morgan Stanley, hasn't, Justin Sullivan, hawking, Sergey Brin, George Pavlov, Mark Zuckerberg, Jeff Bezos, Melinda Lewison, Natasha Pearl, Aston Pearl, James Estrin, Helen Frankenthaler, Minerva, Joseph E, Brooks, Taylor, Mortimer Zuckerman, Zuckerman, he'd, who'd, Koop's, Ken Goldman, Eric Schmidt, Hugh Langley, Michael Floyd, Floyd, Page's, Lucy Southworth, Southworth, It's, Way2B1, it's, Gilles Martin, Hal Bailey Organizations: QS, Osborne, J.P, Google, Harvard Business School, Princeton Theological Seminary, Presbyterian Church, New York Times, Minerva, U.S . News, Boston Properties, Shell, CIA, Energy Technologies, Oceankind, Forbes, Business, Fiji Locations: New York, Caribbean, St, Palo Alto , California, Wayne, Mississippi, Connecticut, Silicon Valley, U.S, Silicon, Palo Alto, Koop, Nola, margarita, Way2B1, Fijian, superyachts, New Zealand, Fiji

☆ South Korea’s Hyundai and US’ GM to work together on developing new cars
▼ + stars: | 2024-09-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Hyundai and General Motors (GM) have agreed to look for ways to work together on developing new vehicles, supply chains and technologies in an effort to cut costs and move more quickly. Global carmakers are under intense pressure to come up with new electric vehicle (EV) and battery technology because they face vehicle emissions regulations around the world. South Korea’s Hyundai and America’s GM (GM) said on Thursday they would collaborate on joint product development, manufacturing and future clean energy technologies. The non-binding framework agreement was signed by Hyundai Motor Executive Chair Euisun Chung and GM Chair and CEO Mary Barra. Including its affiliate Kia, Hyundai Motor is the world’s third-largest automaker by sales, according to Reuters, while GM is currently America’s largest carmaker, having retaken that title from Toyota in 2022.

Persons: Hong Kong CNN —, They’re, Euisun Chung, Mary Barra, “, ” Barra, ” Chung, Cruise Organizations: Hong Kong CNN, Hong Kong CNN — Hyundai, General Motors, Global, EV, Korea’s Hyundai, America’s GM, Hyundai Motor, Kia, Hyundai, Reuters, GM, Toyota, Nissan, Renault, Honda, — Locations: Hong Kong, Japan

☆ The United States and Europe need China for clean energy. They will pay a price to break free
▼ + stars: | 2024-08-14 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

London CNN —The United States and Europe are racing to narrow China’s commanding lead in clean energy technologies, throwing subsidies at local manufacturers and hiking tariffs on Chinese imports in a strikingly protectionist turn. Without China’s electric vehicles (EVs), solar panels, wind turbines, and batteries, reducing planet-heating pollution could take longer and ultimately increase costs for businesses and consumers. Beijing’s virtual monopoly on the processing of some critical minerals comes with particular risks for the global green transition. Zhu Haipeng/VCG/APAny delay in switching to clean energy will exact a heavy toll on the planet. Birol at the IEA also advocates for trade policies that diversify supply chains while reducing the risk of delays to the clean energy transition.

Persons: “, Margrethe Vestager, ”, ” Fatih Birol, David G, Victor, Michael R, Davidson, ” Victor, Pierre, Olivier Gourinchas, Zhu Haipeng, Victor of, Birol, don’t Organizations: London CNN, Russia, Getty, ”, International Energy Agency, Global, University of California, CNN, Monetary Fund, McKinsey Global Institute, Victor of University of California, IEA Locations: United States, Europe, China, Lianyungang, Washington, Netherlands, Japan, Beijing, of Taicang, Suzhou, Brookings, University of California San Diego, Fuzhou, Victor of University of California San Diego

☆ Rapid renewable energy growth leads FBI to warn hackers will hit new, vulnerable power supply
▼ + stars: | 2024-07-29 | by ( Michelle Castillo | ) www.cnbc.com time to read: +6 min

Government incentives, including the Inflation Reduction Act, have encouraged individuals and private ownership groups to invest in clean energy systems. The renewable energy industry's rapid expansion in the U.S. in some cases is occurring without traditional utility protocols and regulations. The boom in renewable energy has also led manufacturers of products and services to ramp up their offerings. Inverters connected to the internet, in particular, could be controlled by hackers to reduce output or overheat home energy systems. Other major players in the U.S. utilities and renewable energy sector, including Next Era Energy, Constellation, Enphase Energy, First Solar and Sunrun, did not respond to requests for comment.

Persons: Jim Hempstead, SEIA, Bheshaj Krishnappa, Freddie Mac, Moody's, Jim Guinn Organizations: FBI, U.S . Energy Information Administration, Metropolitan Washington Council, Governments, Department of Defense, U.S ., Solar Energy Industries Association, Department of Energy Solar Energy Technologies Office, Constellation Energy, Corporation, cybersecurity, Cybersecurity, GE Vernova, Constellation, Enphase Energy Locations: U.S, California , Utah, Wyoming, United States, China, Russia, Iran, cyberattacks

☆ OPEC’s sway over global oil prices may soon loosen, IEA says
▼ + stars: | 2024-06-12 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

The Paris-based IEA said Wednesday that it expects growth in global oil production — led by the United States and other countries in the Americas — to “inflate the world’s spare (oil) capacity cushion” to levels seen only once before, during the coronavirus pandemic when oil prices crashed. By 2030, global oil supply will outstrip demand by a “staggering” 8 million barrels per day, according to forecasts published by the agency in its medium-term oil market report. “(That’s) a major, major surplus and… might be one of the highest in the history,” Fatih Birol, the IEA’s executive director, told reporters. The IEA also forecast growth in global oil demand to “slow progressively” over the rest of the decade, with demand peaking by 2029 before contracting slightly the year after. Despite the cuts, oil prices have trended downward in recent months.

Persons: London CNN —, upend, ” Fatih Birol Organizations: London CNN, Organization of, Petroleum, International Energy Agency, The, ”, OPEC, CNN, IEA, Brent, West Texas Locations: OPEC, The Paris, United States, Americas, Russia, Syria, China

☆ The world faces a shortage of minerals needed for the energy transition
▼ + stars: | 2024-05-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —The world is facing a shortage of the minerals needed to make the electric vehicles, wind turbines, solar panels, and other clean energy technologies essential to ending its reliance on fossil fuels. The world is on track meet only 70% of global copper demand and 50% of lithium demand by 2035, the agency added. Prices for some critical minerals have returned to their lower pre-pandemic levels, the IEA noted, with those needed to make batteries falling particularly sharply. However, “today’s well-supplied market may not be a good guide for the future, as demand for critical minerals continues to rise,” it added. Concentration risksConcentration of critical minerals production in a small number of countries increases the risk of shortages, the agency warned.

Persons: Fatih Birol, “ Organizations: London CNN, International Energy Agency, Investment, IEA, ” Locations: Paris, China

☆ Mining Giant BHP Makes $39 Billion Bid for Rival Anglo American
▼ + stars: | 2024-04-25 | by ( Melissa Eddy | More About Melissa Eddy | ) www.nytimes.com time to read: +1 min

BHP Group, the world’s largest mining company, has proposed a takeover of its rival Anglo American, in a deal that has the potential to shake up the industry at a time when demand for copper is soaring. BHP said on Thursday that it had approached Anglo with a bid valued at 31.1 billion pounds, or $39 billion, in what would be one of the most significant deals in the industry in years. If successful, the acquisition would create the world’s largest miner of copper at a time of growing global hunger for the metal, which is essential to the green-energy transition. Anglo confirmed that it had received an “unsolicited, nonbinding and highly conditional combination proposal from BHP” and that its board was reviewing the offer with its advisers. In the United States, President Biden’s signature climate and energy law, the Inflation Reduction Act, contains hundreds of billions of dollars in tax credits to help companies switch to low-carbon energy sources.

Organizations: BHP Group, BHP, BHP ” Locations: United States

☆ BHP Anglo American bid: The clean energy race could trigger the biggest mining deal in decades
▼ + stars: | 2024-04-25 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record. BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion) in total. The potential deal would have a higher value than the $38.3 billion acquisition of Switzerland’s Xstrata by commodities company Glencore in 2012, according to Dealogic data. It would also be the biggest merger or acquisition in the mining industry by value since Dealogic began collecting the data in 2004. Shares in Anglo American soared as much as 13.8% on the news.

Persons: BHP, Dealogic, “, Mike Henry, ” Susannah Streeter, Hargreaves Lansdown, Rob North Organizations: London CNN — Mining, BHP, London Metals, Oz Minerals, United Kingdom’s, London Stock Exchange, City of, Hargreaves Locations: Australia, City, City of London

☆ AstroForge: How this startup plans to make asteroid mining a reality.
▼ + stars: | 2024-04-23 | by ( Amy Gunia | ) edition.cnn.com time to read: +11 min

Now the California-based startup is attempting to make asteroid mining a reality. That makes AstroForge the only company with a refinery that can turn M-type asteroids into PGMs in space, he adds. Some in the scientific community are skeptical that the private sector will be able to afford asteroid mining. Its all-or-nothing, lower-cost approach may help push asteroid mining closer to reality. “I hope if nothing else,” Gialich says, “we’re known as a space company that went for it.”

Persons: Matt Gialich, Gialich, Jose Acain, “, ”, we’re, “ We’re, AstroForge, Edward Carreon, “ that’s, –, Dan Britt, REx, James Cameron, Larry Page, Britt, “ I’m, ” Gialich, NASA's, Aubrey Gemignani, ” Britt, AstroForge’s Organizations: CNN, Virgin, SpaceX, NASA, Companies, Apple, Center, University of Central, JAXA, United, United Arab Emirates ’ Space Agency, UAE Space Agency, AP NASA, Planetary Resources, Titanic, Google, NASA's Kennedy Space Center, Getty Locations: California, University of Central Florida, China, United Arab, United Arab Emirates, Utah, Los Angeles, Florida

☆ Oil giant Shell waters down its near-term emission cuts in strategy update
▼ + stars: | 2024-03-14 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

British oil giant Shell on Thursday announced plans to moderate its near-term carbon emissions cuts, while maintaining its pledge to become a net-zero company by the middle of the century. Shell said it had also dropped its goal of a 45% reduction by 2035, citing "uncertainty in the pace of change in the energy transition." The net carbon intensity targets are measured against a baseline of emissions in 2016. We have updated our net carbon intensity target to reflect that change." Shell's update comes as European energy majors continue to tweak their plans in the transition to clean-energy technologies.

Persons: Shell, Wael Sawan Organizations: BP

☆ How Georgia became America's green-manufacturing capital
▼ + stars: | 2024-03-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +14 min

Howey, now 30, grew up in northwestern Georgia near Dalton, a small city known as the "carpet capital of the world." SolarCycle, which reclaims old solar panels to make new ones, in February announced plans for a glass factory. The law authorized big tax credits for companies making renewable-energy technologies, including solar panels, batteries, and electric vehicles, in the US. According to S&P Global, the US imported more than two-thirds of its solar panels from Southeast Asia last year. When he sees solar panels atop the chargers, he feels pride in his job.

Persons: Robert Howey, Howey, he'd, Qcells, Catherine Boudreau, Joe Biden, Biden, Bob Keefe, Keefe, Gedia, Pat Wilson, Wilson, Brian Kemp, Benz, Dalton, Kemp, Heidi Popham, Popham, Donald Trump, Scott Moskowitz, Sen, Jon Ossoff of, Moskowitz, it's, Carl Campbell, Campbell, —, Whitfield, Jevin Jensen, Jensen, He's Organizations: US Navy, Business, Qcells, South, Hanwha, SK, Hyundai, Georgia Department of Economic, Gov, Porsche, Mercedes, SK On's, Financial Times, Georgia Northwestern Technical College, Treasury Department, P Global, Microsoft, Development Authority, Shaw Industries, Mohawk Industries, EV Locations: Georgia, Dalton, Japan, Cartersville, South Korea, Malaysia, North Carolina, China, Georgia , North Carolina, South Carolina, Savannah, Atlanta, Cartersville , Georgia, Germany, Commerce , Georgia, Southeast Asia, Korea, Jon Ossoff of Georgia, Washington, BloombergNEF, Vietnam, Whitfield County, ., Whitfield, Calhoun

☆ Are You Getting Sticker Shock From Your Electric Bills? We Want to Hear About It.
▼ + stars: | 2024-02-13 | by ( Ivan Penn | More About Ivan Penn | ) www.nytimes.com time to read: 1 min

Upgrades to aging utility equipment and efforts to reduce greenhouse gas emissions have combined to drive up electricity costs across the country, with the national average increasing from one year to the next. As a New York Times business reporter, I have been looking into the impact of the rising costs of electricity on consumer bills. We are planning more stories about the rising cost of energy and how it’s affecting people around the country. What impact are electricity rates having on household budgets? What steps are people taking to lower their bills?

Persons: Madeleine Ngo Organizations: New York Times

☆ Why the Cost of Biden’s Climate Law Keeps Going Up
▼ + stars: | 2024-02-08 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

The estimated price tag for President Biden’s clean-energy and climate agenda has effectively doubled since the Inflation Reduction Act was signed into law a year and a half ago. That rising price tag may actually be good for reducing greenhouse gas emissions — and for the U.S. economy. The Inflation Reduction Act, which Democrats passed on a party-line vote in summer 2022, includes tax credits and other subsidies for low-emission energy technologies that are meant to help wean the nation from fossil fuels. The uncapped credits include incentives for manufacturers to build solar-panel or wind-turbine factories, and for consumers to buy electric vehicles. Budget scorekeepers have to estimate how popular those credits will be, in order to forecast how much they’ll cost.

Persons: Biden’s, Biden Locations: U.S

☆ What the COP28 deal means for the U.S. as oil and gas production hits record levels
▼ + stars: | 2023-12-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

The agreement, known as the global stocktake, was hailed as "historic" by COP28 President Sultan al-Jaber during his closing speech. Samuel Corum | Getty Images News | Getty ImagesU.S. climate envoy John Kerry said Wednesday that the COP28 agreement "sends very strong messages to the world." The fight to end oil, gas and coal must now be taken up at the country level with the United States leading the way. Fossil fuels and climate financeUnder Biden, the U.S. passed the most aggressive climate investment ever taken by Congress, a bill known as the Inflation Reduction Act. Nonetheless, the White House has frequently received sharp criticism over its plans to expand oil and gas production.

Persons: Joe Biden, Cyril Ramaphosa, Joe Biden's, Sultan al, Jaber, Samuel Corum, John Kerry, Kerry, Jean Su, Jason Bordoff, Su, Nikki Reisch, Reisch, Biden, Jennifer Granholm, Brandon Bell Organizations: White, Washington , D.C, Bloomberg, Getty, European Union, Washington Hilton, United, Center for Biological, . Energy, Administration, Russia, Center, Global Energy, Columbia University, CNBC, Center for Biological Diversity, Center for International Environmental, U.S, Biden, Marathon El Locations: South, Washington ,, Connecticut, Washington , DC, United States, China, U.S, Saudi Arabia, Russia, Ukraine, America, Marathon El Paso Refinery, El Paso , Texas, The U.S

☆ Oil CEO says blaming the energy industry for the climate crisis ‘like blaming farmers for obesity’
▼ + stars: | 2023-12-05 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

watch nowDUBAI, United Arab Emirates —The chief executive of UAE-based energy firm Crescent Petroleum on Tuesday claimed that blaming the oil and gas industry for the climate crisis "is like blaming farmers for obesity." The burning of coal, oil and gas is by far the largest contributor to climate change, accounting for more than three-quarters of global greenhouse gas emissions. "Blaming the producers of oil and gas for climate change is like blaming farmers for obesity. U.N. Secretary-General António Guterres said that the announcement was "a step in the right direction" for Big Oil and showed that the fossil fuel industry was "finally starting to wake up." Others, including former U.S. Energy Secretary Ernest Moniz, believe that the participation of energy giants should be welcomed at events such as COP28.

Persons: Majid Jafar, CNBC's Dan Murphy, Sultan Ahmed Al Jaber, Abu, COP28, António Guterres, Jafar, We're, Ernest Moniz Organizations: United Arab Emirates —, UAE, Petroleum, Crescent Petroleum, Crescent Petroleum Co, Abu Dhabi National Oil Co, United Arab Emirates national, Expo, Bloomberg, Getty, Big Oil, U.S . Energy Locations: DUBAI, United Arab, Dubai, Abu Dhabi, United Arab Emirates, U.N, New York

☆ What Will Motivate More People to Make Their Homes More Energy Efficient?
▼ + stars: | 2023-11-30 | by ( Lisa Ward | ) www.wsj.com time to read: 1 min

Researchers are examining whether social networks and connections can be leveraged to convince more households to make energy upgrades. Photo: Michael Conroy/Associated PressHow do you get people to reduce their home’s carbon footprint? The U.S. government hopes the answer is to appeal to their pocketbooks. As part of the Inflation Reduction Act, the government is rolling out increased federal tax credits and rebates to help offset the cost of energy-efficient upgrades such as electric heat pumps and added insulation, and adoption of clean-energy technologies such as rooftop solar.

Persons: Michael Conroy Organizations: Associated Locations: U.S

☆ American Airlines works with startup to reduce carbon dioxide by storing bricks of plant material underground
▼ + stars: | 2023-11-28 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

American Airlines aims to remove carbon from the atmosphere by working with a startup that stores bricks of plant material underground. The airline announced a deal with Graphyte on Tuesday to purchase credits equivalent to 10,000 tons of permanent carbon removal with delivery scheduled for early 2025. The plant material is dried to prevent decomposition and then converted into carbon dense bricks that are sealed with a polymer barrier. Plant byproducts from the agriculture and timber industries are typically burned or left to decompose, which returns carbon dioxide into the atmosphere. This biomass material is equivalent to 3 billion tons of potential carbon dioxide removal annually, according to Graphyte.

Persons: Jill Blickstein, Bill Gates Organizations: Traffic, Miami International Airport, Miami , Florida . American Airlines, Graphyte, Breakthrough Energy Ventures, CNBC PRO Locations: Miami , Florida

The 2022 climate law has accelerated investments in clean-energy projects across the United States. It has also delivered financial windfalls for big banks, lawyers, insurance companies and start-up financial firms by creating an expansive new market in green tax credits. The law, signed by President Biden, effectively created a financial trading marketplace that helps smaller companies gain access to funding, with Wall Street taking a cut. The law created a wide range of tax incentives to encourage companies to produce and install solar, wind and other low-emission energy technologies. But the Democrats who drafted it knew those incentives, including tax credits, wouldn’t help companies that were too small — or not profitable enough — to owe enough in taxes to benefit.

Persons: Biden Locations: United States

☆ US Aims to Speed Heat Pump Manufacturing Using Cold War-Era Law
▼ + stars: | 2023-11-17 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - The U.S. will fund nine projects with $169 million from last year's climate bill to speed manufacturing of heat pumps, systems that can heat and cool homes and businesses more efficiently, the Energy Department said on Friday. Heating and cooling homes and buildings, including critical infrastructure like military bases, drive more than 35% of U.S. energy consumption, according to her department. Compared to boilers fueled by natural gas, heat pumps reduce greenhouse gas emissions by up to 50%, it says. The funding will go to manufacturers including Armstrong International in Michigan, Honeywell International in Louisiana, and Ice Air, LLC in South Carolina. The Energy Department said it expects to unveil another round of DPA investments in early 2024.

Persons: Joe Biden, Jennifer Granholm, Timothy Gardner Organizations: WASHINGTON, Energy Department, Armstrong International, Honeywell International, Ice Air, LLC, The Energy Department Locations: U.S, Michigan, Louisiana, South Carolina

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