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Governors' Wind Energy Coalition

September 12, 2022

Top Story

Failure to Slow Warming Will Set Off Climate ‘Tipping Points,’ Scientists Say

By Henry Fountain, New York Times  •    •  Posted 2022-09-12 16:07:55

Failure to limit global warming to the targets set by international accords will most likely set off several climate “tipping points,” a team of scientists said on Thursday, with irreversible effects including the collapse of the Greenland and West Antarctic ice sheets, abrupt thawing of Arctic permafrost and the death of coral reefs. The researchers said that even at the current level of warming, about 1.1 degrees Celsius (2 degrees Fahrenheit) above preindustrial levels, some of these self-sustaining changes might have already begun. But if warming reached above 1.5 degrees Celsius, the more ambitious of two targets set by the 2015 Paris Agreement, the changes would become much more certain. [ read more … ]

Wind Energy

California Offshore Wind Projects Face Hurdles as Pressure Groups, Industry Interests Weigh In

By Katy Stech Ferek, Wall Street Journal  •    •  Posted 2022-09-12 16:05:33

As the Biden administration plans for the country’s first West Coast offshore wind turbines, interests ranging from commercial fishing fleets to powerful environmental groups are complicating the road ahead for the California projects. The Interior Department’s Bureau of Ocean Energy Management expects to hold a lease sale for two offshore regions by the end of the year, one north of Santa Barbara near Morro Bay and another more remote site off Humboldt County just south of the Oregon border. Democratic California Gov. Gavin Newsom recently said the state “is home to one of the world’s best offshore wind resources in the world.” [ read more … ]

Inflation Reduction Act

Inflation Reduction Act could raise prices on clean energy, warns Bank of America

By Robert Walton, Utility Dive  •    •  Posted 2022-09-12 16:06:01

The Inflation Reduction Act is the largest clean energy spending package in U.S. history, but analysts at Bank of America warn it may not live up to its nom de guerre. “The IRA aims to achieve many goals over the next decade, like reducing emissions at an accelerated rate. However, its name may become a misnomer if investment surges while supply chains remain constrained, fueling inflation,” according to a BofA Global Research report issued Friday. [ read more … ]

Climate law: What to watch at Interior, FERC and DOE

By Heather Richards, David Iaconangelo, Miranda Willson, E&E News  •    •  Posted 2022-09-12 16:06:38

The Department of Energy, Interior Department and Federal Energy Regulatory Commission are grappling with how to implement the landmark climate law and carry out President Joe Biden’s priorities for shifting the country towards low-carbon energy. Biden’s signing of the Inflation Reduction Act — hatched in a deal between Senate Majority Leader Chuck Schumer and Energy and Natural Resources Chair Joe Manchin — set off a sprint for agencies to advance new programs, directives and rulemakings. That ranges from assisting the Internal Revenue Service in advancing clean energy tax credits to carrying out an overhaul of public land policies that advance wind, solar and new oil and gas. [ read more … ]

Congress

Hearings set to attack fossil fuel industry and its backers

By Nick Sobczyk, E&E News  •    •  Posted 2022-09-12 16:06:58

Democrats plan to tear into the fossil fuel industry during a pair of House hearings this week. The House Natural Resources Subcommittee on Oversight and Investigations will meet Wednesday as part of its ongoing investigation of public relations firms’ role in spreading climate change denial. Natural Resources Chair Raúl Grijalva (D-Ariz.) and subcommittee Chair Katie Porter (D-Calif.) have been seeking documents from several companies detailing their work for fossil fuel companies and industry trade associations. [ read more … ]

Progressive opposition grows ahead of permitting bill release

By George Cahlink, E&E News  •    •  Posted 2022-09-12 16:07:30

Congress could unveil stopgap spending legislation this week that could carry a contentious permitting reform overhaul and aid to address the water crisis in Jackson, Miss. The House will return from August recess with progressives eager to derail a plan to attach permitting overhaul legislation to stopgap spending legislation that Congress needs to pass by the end of this month to avert a government shutdown. The funding measure will likely last until mid-December to give lawmakers time to finalize fiscal 2023 spending. [ read more … ]

Markets

BlackRock blasts Republican AGs’ ‘misconceptions’ on its ESG role

By Dan Ennis, Utility Dive  •    •  Posted 2022-09-12 16:05:15

BlackRock last week aimed to correct “misconceptions” it says 19 state attorneys general have held regarding the asset manager’s environmental, social and governance motives.  BlackRock asks companies to disclose information pertaining to climate change that may affect businesses so investors can judge risk, Dalia Blass, the asset manager’s head of external affairs, wrote in a letter dated Tuesday. [ read more … ]

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