View this email in a web browser.
Energy sector job growth outpaces overall US economy, with strength in transportation, renewables: DOE
Energy jobs in the U.S. are growing faster than employment in the overall domestic economy, driven in particular by renewables and the development of clean transportation, according to a new analysis released Tuesday by the U.S. Department of Energy. Energy sector jobs grew 4% in 2021, while employment across all industries rose just 2.8% in the same time period, according to the 2022 U.S. Energy & Employment Report. [ read more … ]
DOE: Here’s what’s happened to EV, renewable, fossil jobs
Much of the fossil fuel industry continued to hemorrhage jobs last year, even as employment in the electric car sector increased dramatically, according to a report today from the Department of Energy. Released yesterday, the 2022 U.S. Energy and Employment Report (USEER) is compiled annually using public labor statistics and analyzes virtually every established energy sector, from energy efficiency and electric power generation to motor vehicles, fuels production and transmission, distribution and storage. [ read more … ]
Wind Energy
Virginia’s Youngkin supports offshore wind projects; doesn’t join Biden coalition
Youngkin has taken a different approach to energy than his Democratic predecessor, former Gov. Ralph Northam, who signed the Virginia Clean Economy Act. The bill, which Youngkin wants repealed, requires the commonwealth to produce all of its energy from sources that have no carbon emissions within about 30 years. Although supporters have argued that this would be good for the environment, opponents have warned of more costly energy and the future difficulties it could pose for selling energy out of state. Alternatively, Youngkin promotes a diverse energy sector that would not solely rely on non-carbon emitting sources. [ read more … ]
Solar Energy
The Hottest Investor in Renewables Is a Big Oil Producer
The United Arab Emirates is emerging as one of the world’s biggest state financiers of clean energy, seeking to become as influential in renewables as it currently is in oil and gas. Since November, when global nations agreed to accelerate emissions-cutting plans at a United Nations summit, the U.A.E. has said it will fund development of thousands of megawatts of solar-energy projects in countries across the world. It has committed $400 million to enable developing nations’ transition to clean energy and pledged to help supply green electricity to 100 million Africans by 2035. [ read more … ]
Natural Gas
Insight: Love it or hate it, natural gas is likely here to stay.
In recent years, the image of natural gas as a bridge fuel was sullied by the large amounts of the potent greenhouse gas methane spewed into the atmosphere by oil and gas production. But as governments around the world react to short supplies and soaring prices, it appears natural gas has won its place in the transition to lower carbon fuels. And barring a major shift in the global energy system, it’s here to stay for decades to come, [ read more … ]
States
New Mexico’s coal transition law still faces an uncertain timeline
“This is a really big deal,” Gov. Michelle Lujan Grisham said at the bill signing. “The Energy Transition Act fundamentally changes the dynamic in New Mexico.” The 2019 law has withstood political and legal challenges, but three years later it still faces a major test. Ongoing drought, supply chain issues, and rising natural gas prices threaten to complicate or delay its rollout by prolonging the life of the state’s largest and most polluting coal-fired power plant. [ read more … ]
RHODE ISLAND: Requires 100 Percent Renewable Power by 2033
Rhode Island lawmakers last week passed a bill requiring that within 10 years 100 percent of electricity sold in the state come from renewable energy technologies such as wind and solar. Rhode Island Governor Daniel McKee, a Democrat, is expected to sign it into law. The law will then require the state’s distribution utilities to purchase renewable energy credits to cover all of their retail electric sales, making tiny Rhode Island the first state in the nation to try this green energy advance. On Thursday Governor McKee joined members of the Biden-Harris Administration and a coalition of East Coast governors to launch a federal-state Offshore Wind Implementation Partnership. [ read more … ]
Climate
More global heat records are broken, from the Arctic to Japan
June heat waves have now set monthly and all-time high-temperature recordsin the U.S., Europe, Asia and the Russian Arctic. Why it matters: Increasingly severe, frequent and long-lasting heat waves are a clear manifestation of human-caused global warming. [ read more … ]
Exxon CEO says carbon removal is climate cure with oil perks
The head of Exxon Mobil Corp. said emerging technologies that suck carbon from the atmosphere are “the holy grail” society needs to address climate change. Darren Woods, the oil major’s media-shy chairman and CEO, spoke about the enormous potential for direct air capture innovations during a series of interviews with CNBC for an Exxon documentary that the cable network aired last week . His comments stand to increase skepticism among environmentalists about direct air capture and other technologies that they say could slow the transition away from fossil fuels, the top driver of rising temperatures. [ read more … ]
Markets
Private Investors Betting on Clean Energy Despite Market Selloff
Green technology companies have been hammered in the stock market, but private investors are still pouring cash into the sector. The latest deal is a $750 million investment into a fast-growing renewable energy provider by several funds including TPG Inc. Intersect Power LLC and three other climate startups have together raised more than $1.6 billion in the past week. Large investment firms and venture capitalists, many with hefty cash piles, appear to be optimistic about the sector despite worries about high inflation and rising interest rates [ read more … ]
G-7 Launches Climate Club to Try and Avoid Green Trade Wars
Leaders of the world’s most advanced economies have agreed to start a Climate Club where members agree on joint rules and standards in the fight against global warming with the hope that it will avoid spats over green tariffs. The Group of Seven nations reached a deal on the issue at a three-day summit in Bavaria, Germany, that ended on Tuesday. It’s a significant achievement for German Chancellor Olaf Scholz, who has made better coordination on climate protection measures a key theme of his G-7 presidency.
[ read more … ]
Note: News clips provided do not necessarily reflect the views of coalition or its member governors.