News

BP to stick with oil and gas for decades, CEO Looney says

Source: By Dmitry Zdhannikov and Noah Browning, Reuters • Posted: Wednesday, June 23rd, 2021

BP (BP.L) will continue producing hydrocarbons for decades to come and will benefit from rising oil prices even as it reduces output as part of its shift to low-carbon energy, Chief Executive Bernard Looney told Reuters on Tuesday. The recent rally in crude prices, which climbed on Tuesday to a more than two-year high above $75 a barrel, is likely to continue, Looney said in an interview at the Reuters Events: Global Energy Transition conference.

Electric Vehicles Seen Reaching Sales Supremacy by 2033, Faster Than Expected

Source: By Brett Haensel, Bloomberg • Posted: Wednesday, June 23rd, 2021

Global electric vehicle supremacy will arrive by 2033 — five years earlier than previously expected — as tougher regulations and rising interest drive demand for zero-emission transportation, according to a new study. Consultant Ernst & Young LLP now sees EV sales outpacing fossil fuel-burners in 12 years in Europe, China and the U.S. — the world’s largest auto markets. And by 2045, non-EV sales are seen plummeting to less than 1% of the global car market, EY forecast using an AI-powered prediction tool.

Most new wind and solar projects will be cheaper than coal, report finds

Source: By Jillian Ambrose, The Guardian • Posted: Wednesday, June 23rd, 2021

Almost two-thirds of wind and solar projects built globally last year will be able to generate cheaper electricity than even the world’s cheapest new coal plants, according to a report from the International Renewable Energy Agency (Irena). The agency found that the falling cost of new windfarms and solar panels meant 62% of new renewable energy projects could undercut the cost of up to 800 gigawatts (GW) worth of coal plants, or almost enough to supply the UK’s electricity needs 10 times over.

Amazon and Other Tech Giants Race to Buy Up Renewable Energy

Source: By Sam Schechner, Wall Street Journal • Posted: Wednesday, June 23rd, 2021

The race to secure electricity deals for power-hungry data centers has tech companies reshaping the renewable-energy market and grappling with a new challenge: how to ensure their investments actually reduce emissions. Amazon.com Inc. AMZN 1.49% said it planned Wednesday to announce commitments to buy 1.5 gigawatts of production capacity from 14 new solar and wind plants around the world as part of its push to purchase enough renewable energy to cover all of the company’s activities by 2025.

Has the Carbontech Revolution Begun?

Source: By Jon Gertner, New York Times • Posted: Wednesday, June 23rd, 2021

Interface is far from the only company trying to “embed” large amounts of carbon within commercial merchandise. For the past few years, a number of start-ups have begun developing products that aim to fold in carbon dioxide captured from smokestacks and other sources of pollution, in an attempt to reach a new level of environmentally friendly manufacturing: one in which greenhouse-gas molecules are not only kept out of the atmosphere but also repurposed. This undertaking, usually characterized as carbon utilization, goes well beyond flooring — to plastics, jet fuels, diesel, chemicals, building materials, diamonds, even fish food.

Labor, green groups urge Biden to reject any ‘watered-down’ infrastructure deal

Source: By Valerie Volcovici, Reuters • Posted: Wednesday, June 23rd, 2021

Leaders of environmental and labor groups, among President Joe Biden’s biggest supporters, on Tuesday urged the White House and Democratic congressional leaders to reject any bipartisan infrastructure deal that lacks strong provisions to fight climate change and strengthen unions. The BlueGreen Alliance, which includes some of the country’s biggest environmental groups and labor unions, said in a letter its members were “troubled by recent proposals” that are “watered down.”

Why coal plant workers aren’t going green

Source: By David Ferris, E&E News reporter • Posted: Wednesday, June 23rd, 2021

To secure a future in clean energy, John Lammi had to climb. He stood on the ground inside the hollow steel stalk of a wind turbine. A thin ladder clung to its wall, vanishing to a dot almost 30 stories high. He had 12 minutes to get to the top. Go.

Against Expectations, Southwestern Summers Are Getting Even Drier

Source: By Henry Fountain, New York Times • Posted: Wednesday, June 23rd, 2021

The Southwest, already the driest region in the United States, has become even drier since the mid-20th century, particularly on the hottest days, according to new research. Humidity has declined in summers over the past seven decades, the research showed, and the declines have accelerated since 2000, a period of persistent drought in the region. Extreme heat coupled with lower humidity increases wildfire risk, said Karen McKinnon, a climate scientist at the University of California, Los Angeles, and lead author of a paper in Nature Climate Change describing the research and findings.

Can America’s Solar Power Industry Compete with China’s? One Firm Tries

Source: By Bob Davis and photographs by Dustin Franz, The Wall Street Journal • Posted: Tuesday, June 22nd, 2021

Solar panels are part of any formula for fighting climate change, yet the U.S. makes few of them, since subsidized manufacturers in China dominate the market. First Solar Inc. is trying to change that. It has just committed to building a new $680 million panel factory in Ohio. A key reason is the company’s confidence that Washington will have its back.

U.S. Solar Manufacturers Would Get Tax Credit in Ossoff Bill

Source: By Mackenzie Hawkins, Bloomberg • Posted: Tuesday, June 22nd, 2021

Senator Jon Ossoff is poised to introduce legislation establishing a tax credit for domestic solar manufacturers that he hopes will pass as part of a larger infrastructure package later this year.
The tax credit, which would work in concert with existing incentives for consumers, would be fully refundable and aims to rapidly accelerate the production of solar energy in the United States. The Georgia Democrat said his bill is intended to close the gap between U.S. manufacturers and global competitors, paving the way for U.S. leadership on clean energy.