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Governors' Wind Energy Coalition

May 12, 2021

Top Story

Renewable energy didn’t just survive 2020 — it thrived

By Emily Pontecorvo, Grist  •    •  Posted 2021-05-12 16:14:37

Renewable energy has not only survived COVID-19 — it’s thrived. A new report by the International Energy Agency, or IEA, found that the world added 280 gigawatts of wind, solar, hydropower, and other renewables to its electrical grids last year. To put that in perspective, that’s about a quarter of the United States’ total utility-scale electricity generating capacity. It’s also a 45 percent increase in new renewable installations from 2019 — the highest year-over-year increase since 1999. [ read more … ]

Wind Energy

For Clean Energy, Buy American or Buy It Quick and Cheap?

By Noam Scheiber, New York Times  •    •  Posted 2021-05-12 16:12:44

Much of the supply chain for renewable energy and other clean technologies is in fact abroad. Nearly 70 percent of the value of a typical solar panel assembled in the United States accrues to firms in China or Chinese firms operating across Southeast Asia, according to a recent report by the Center for Strategic and International Studies and BloombergNEF, an energy research group. Batteries for electric vehicles, their most valuable component, follow a similar pattern, the report found. And there is virtually no domestic supply chain specifically for offshore wind, an industry that Mr. Biden hopes to see grow from roughly a half-dozen turbines in the water today to thousands over the next decade. That supply chain is largely in Europe [ read more … ]

Biden bets offshore wind will fix his climate jobs problem

By Benjamin Storrow, E&E News reporter  •    •  Posted 2021-05-12 16:12:16

Offshore wind offers President Biden one of his best opportunities to marry his climate and jobs agendas. It comes as his administration approved the nation’s first major wind project off the East Coast. The president often touts the promise of jobs within his climate plan, arguing that massive investments in renewable energy and grid infrastructure will increase employment for blue-collar Americans. The only problem: Renewables and organized labor are not traditional allies. [ read more … ]

Colonial Pipeline

Beyond Colonial Pipeline, Ransomware Cyberattacks Are a Growing Threat

By Robert McMillan, Dustin Volz and Tawnell D. Hobbs, Wall Street Journal  •    •  Posted 2021-05-12 16:13:55

The cyberattack that knocked offline an essential U.S. gasoline pipeline shows how the dangerous, professional-scale hack-for-ransom threat is spreading rapidly, targeting companies, schools, hospitals and other institutions. While ransomware has been a challenge for small businesses for years, a confluence of factors have emboldened attackers in the past year, culminating in the shutdown Friday of a critical gasoline pipeline to the U.S. East Coast. The pipeline’s operator, Colonial Pipeline Co., now says service could be offline until week’s end, threatening to raise prices at the pump for millions of Americans. [ read more … ]

Markets

Oil Glut Returns to Near Pre-Pandemic Levels

By David Hodari, Wall Street Journal  •    •  Posted 2021-05-12 16:13:37

The oil supply glut that built up after the pandemic forced producing countries to slash output has almost returned to normal levels, the International Energy Agency said Wednesday. But in its monthly report, the IEA cut its 2021 global demand growth forecast by 270,000 barrels to 5.4 million barrels a day. Demand in Europe and the Americas in the first quarter was weaker than previously thought, the IEA said. The agency cut its second-quarter forecast for Indian demand as the country struggles with high coronavirus infection rates. [ read more … ]

U.S. Gasoline Prices Rise Above $3/Gallon First Time Since 2014

By Javier Blas and Brian Wingfield, Bloomberg  •    •  Posted 2021-05-12 16:14:14

U.S. national average retail gasoline prices have risen above $3 a gallon for the first time since 2014, after a cyberattack shut operations at Colonial Pipeline, the main supply link for the East Coast. The nation’s average retail price is now at $3.008 a gallon, according to motoring organization AAA. The pipeline’s shutdown has caused shortages at fuel stations around the Southeast. [ read more … ]

EVs

EXCLUSIVE Tesla seeks entry into U.S. renewable fuel credit market – sources

By Jarrett Renshawand Stephanie Kelly, Reuters  •    •  Posted 2021-05-12 16:13:01

Tesla Inc is seeking to enter the multi-billion dollar U.S. renewable credit market, hoping to profit from the Biden administration’s march toward new zero-emission goals, two sources familiar with the matter said. The electric car maker is one of at least eight companies with a pending application at the Environmental Protection Agency tied to power generation and renewable credits, the sources said. The EPA produces a list of pending applications with some details, but not companies’ names. [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.