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Joe Biden’s coming infrastructure push, explained
Biden and Democrats see an infrastructure package as the best way to tackle climate change and get the country to net-zero electricity emissions by 2035, by installing more electric vehicle charging stations on the nation’s roads, modernizing the electrical grid, and incentivizing more wind and solar projects. It could be financed at least in part with higher taxes on corporations and the wealthiest Americans. [ read more … ]
Wind Energy
Global wind industry could install almost 1 TW of new capacity by 2030, report says
The extension of a production tax credit in the United States could bring 35 GW of new capacity from 2021 to 2023. From 2024 to the end of the decade, new U.S. offshore capacity is expected to average 4.5 GW per year, the report said. Wood Mackenzie said a record 114 gigawatts (GW) of capacity was added worldwide last year, up by 82% year on year. China accounted for 72 GW, while the rest of the world added almost 43 GW in 2020, a 15% increase. [ read more … ]
Biden Administration
Biden to Reveal Major Spending Plan With Big Battle Ahead
“Successful presidents — better than me — have been successful in large part because they know how to time what they’re doing,” Biden said Thursday when asked why he was pursuing the massive spending package instead of other legislative priorities, such as gun control. Infrastructure is “the place where we will be able to significantly increase American productivity, at the same time providing really good jobs.” [ read more … ]
Biden economic plan to focus 1st on infrastructure this week
President Joe Biden will lay out the first part of his multitrillion-dollar economic recovery package this week, focusing on rebuilding roads, bridges and other infrastructure, followed by a separate plan later in April addressing child and health care. White House press secretary Jen Psaki confirmed on Sunday the administration’s plans to split the package into two legislative proposals, part of an effort to get support from congressional Republicans. But she adds that “we’ll work with the Senate and House to see how it should move forward.” [ read more … ]
Climate
Are Cities Underestimating Carbon Pollution?
The city of Los Angeles has been collecting data on its carbon pollution footprint for over a decade as a part of its efforts to fight global climate change. In 2017, the city reported that it had reduced greenhouse gas emissions by 40% from 2008 levels, through various changes such as improving electricity usage in traffic lights, energy efficiency gains in buildings and airport design modifications. It turns out that the city’s emissions measurements were off, though – by more than 50%. And it wasn’t just L.A. [ read more … ]
Vanguard, BlackRock Join Investors Pledging Net-Zero Emissions
The world’s largest asset managers have joined a group of investors committing to cut the net greenhouse-gas emissions of their portfolios to zero. BlackRock Inc. and Vanguard Group Inc. are among 43 investment firms managing more than $22.8 trillion of assets that are joining the Net Zero Asset Managers initiative, according to a statement Monday. By signing up, the money managers are pledging to support efforts to limit global warming to 1.5 degrees Celsius by targeting net-zero emissions by 2050 across all their holdings. They also will set a public goal for the proportion of their assets that in 2030 will be on course for net zero. [ read more … ]
Coal Country Races to Shield Itself From Biden’s Climate Plan
Coal’s slow downfall is gaining momentum across the U.S. as clean energy becomes cheaper and wins widespread support, but lawmakers in mining states from Wyoming to West Virginia are determined to fight back with a series of roadblocks to President Joe Biden’s plan to cut greenhouse-gas emissions. Seeking to prolong the lifespan of an industry that’s vital to local economies, at least five states are seeking to pass legislation that would give them weapons such as bigger hurdles to shut coal-fired plants, a war chest for potential legal battles, more power to state regulators over utilities, tax cuts and cheaper state insurance for power stations. [ read more … ]
Markets
As the Shift to Green Energy Speeds Up, Shell’s Big Natural-Gas Bet Is at Risk
Royal Dutch Shell bet big on natural gas as the energy source of the future when it bought BG Group for $54 billion. Five years later, it appears the gas era won’t last long. Falling prices for wind and solar power, coupled with government and businesses’ new green goals, are accelerating a shift to cleaner energy and leaving natural gas—long seen by energy companies as a bridge between fossil fuels and renewables—in the lurch. The fuel is also under growing scrutiny for methane leaks, leading some potential customers to skip gas and move ahead to lower-carbon alternatives. [ read more … ]
Car Rules
Auto rules go to OMB
EPA and the Transportation Department last week sent two major proposed regulations to the Office of Management and Budget for review. The National Highway Traffic Safety Administration has sent over a rule regarding CAFE program preemption, which appears to be the rule to restore California’s special regulatory authority for tailpipe emissions. [ read more … ]
EVs
Auto dealers sue Illinois, EV makers over direct sales
The Illinois Automobile Dealers Association has filed a lawsuit against the state and electric truck startup Rivian for selling vehicles directly to consumers. The lawsuit filed Thursday in Cook County Circuit Court also names Lucid Motors, an electric vehicle startup based in California that is planning to open a sales office in suburban Chicago. Rivian began taking advance orders online in November and plans to open a Chicago showroom. [ read more … ]
Note: News clips provided do not necessarily reflect the views of coalition or its member governors.