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How a Rail Strike Could Wreak Havoc on the American Supply Chain
Just as the global supply chain flashes signs of returning to normal, a new crisis now threatens to disrupt the transport of a vast range of goods, from agricultural crops to lumber to coal. If tens of thousands of rail workers follow through on threats to strike as soon as Friday in pursuit of better working conditions, that would unleash potentially monumental havoc on the system used to move products from place to place. [ read more … ]
Rail Strike
Railroad strike threatens power in coal-dependent states
The looming railroad workers’ strike threatens to deliver a blow to the economy by disrupting critical supply chains for commodities like lumber and wheat. No sector stands to lose as much as the coal industry, which is almost entirely dependent on railways to move its product around. A work stoppage could reduce coal stockpiles that have already been thinned by poor rail service and the high levels of consumption caused by recent volatility in global energy markets. This could lead to electricity shortages and sky-high prices in coal-dependent parts of the country. [ read more … ]
Biden Administration
Biden Climate Law Sparks New Market for Trading Tax Credits
A brand-new market for green tax credits is taking shape as bankers and advisers figure out how to funnel tax breaks from energy companies that generate them to profitable corporations eager for smaller tax bills. The tax-credit sales mark a shift in the U.S. strategy for attracting public and private capital to renewable-energy projects, and they will happen alongside existing climate-finance markets such as carbon offset purchases. The deals won’t start in earnest until 2023, but lawyers and financiers are already structuring transactions. They are discussing arrangements in which credits would be sold at discounts from face value, and they are determining how to cushion tax-credit buyers against potential risks. [ read more … ]
White House unveils climate bill website for consumers
Wonder if you’re eligible for a tax credit to curb the cost of rooftop solar or a new electric vehicle? The White House has a new website for you. The Biden administration on Tuesday morning rolled out Cleanenergy.gov, a guide for consumers wondering how they can take advantage of tax credits available under the behemoth climate and energy bill enacted in August. The website launched ahead of a White House event planned for Tuesday afternoon to celebrate the bill’s passage. [ read more … ]
Biden touts climate bill at big White House ‘celebration’
“I want to take the most aggressive action ever, ever, ever to confront the climate crisis and increase our energy security, ever in the whole world,” Biden told the crowd at an event on the White House’s South Lawn, which was dubbed a “celebration” by White House officials. “And that’s not hyperbole.” [ read more … ]
Climate
Big Oil’s new strategy in climate cases: Cite Captain Planet
The oil and gas industry is citing “The Fresh Prince of Bel-Air” and the “Teenage Mutant Ninja Turtles” in an effort to dismiss one of nearly two dozen lawsuits that accuse the industry of deceiving the public about the dangers of burning fossil fuels. If the 1990s sitcoms knew climate change was happening, then the lawsuits that accuse the industry of hoodwinking the public aren’t credible, Chevron Corp. argues in a sweeping new court filing. The filing seeks to document — through scientific studies, newspaper and magazine articles and TV and movie scripts — the industry’s contention that the dangers of climate change have long been widespread knowledge. [ read more … ]
EVs
EV sales are booming, but can battery production keep pace? Several factors could hamper growth, say experts
Electric vehicle sales are booming, but experts say continued growth in the sector depends on expanding global battery production — and several factors could complicate that effort. Both in the United States and globally, sales of EVs and plug-in hybrids are growing at about a 50% year-over-year rate, according to Victor Irle, co-founder of EV Volumes. The company tracks monthly sales around the world by vehicle model.
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Note: News clips provided do not necessarily reflect the views of coalition or its member governors.