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These Carbon Removal Companies Got the Energy Department’s Stamp of Approval
The Department of Energy is advancing its first-of-a-kind program to stimulate demand for carbon removal by becoming a major buyer. On Tuesday, the agency awarded $50,000 to each of 24 semifinalist companies competing to suck carbon dioxide out of the atmosphere on behalf of the U.S. government. It will eventually spend $30 million to buy carbon removal credits from up to 10 winners.The nascent carbon removal industry is desperate for customers. At a conference held in New York City last week called Carbon Unbound, startup CEOs brainstormed how to convince more companies to buy carbon removal as part of...
Tom Steyer Is Baffled By Warren Buffett’s Oil Bets
If you’re looking for a relatively optimistic read on the fight against climate change, Tom Steyer’s new book is out today. Called Cheaper, Better Faster: How We’ll Win the Climate War, it dives into the billionaire’s perspective on the state of the climate crisis and the clean energy solutions helping the world decarbonize. Steyer’s perspective is informed by the many hats he wears — investor, philanthropist, long shot 2020 presidential candidate, Yale man, and co-founder of the investment firm Galvanize Climate Solutions. I chatted with Steyer a few weeks ago about his book, his guiding investment principles, and how...
A Weekend of Deadly Weather
Current conditions: Early summer heat wave threatens the South • Temperatures climb to a near-record 125 degrees Fahrenheit in Pakistan • It’s 60 degrees and rainy in Paris where the French Open is underway.THE TOP FIVE1. Over 2,000 people buried by landslide in Papua New GuineaA massive landslide reportedly buried alive more than 2,000 people in northern Papua New Guinea on Friday. Over 670 people have already been reported dead but experts warn the death toll will rise far higher as rescuers pick through the devastation. Aid workers have also reportedly struggled to reach the affected area with roads...
Biden’s Long Game on Climate
Here’s the problem with President Joe Biden’s climate policy: From a certain point of view, it makes no sense.Take his electricity policy. At the top level, Biden has committed to eliminating greenhouse-gas pollution from the power sector by 2035. He wants to accomplish this largely by making clean energy cheaper — that’s the goal of the Inflation Reduction Act, of course — and he has also changed federal rules so it’s slightly easier to build power lines and large-scale renewable projects. He has also added teeth to that goal in the form of new Environmental Protection Agency rules cracking...
If You Want a Small EV Box, You’re in Luck
Sometimes, a car’s name tells you all you need to know.When Kia turned out its first electric vehicles in the 2010s, the models amounted to gasoline cars retrofitted for battery power. The names, like Soul EV and Niro EV, implied as much. But once the Korean automaker started to make purpose-built electrics, it adopted a very literal naming system — one that outlines its vision to dominate the electric car industry.First came the EV6. With racy styling and impressive power numbers, EV6 was built to compete in the increasingly crowded space of two-row electric crossovers that start north of...
The Rich Get Richer Off of Climate Aid
Current conditions: Strong thunderstorms, tornadoes, and hail on Tuesday killed multiple people and knocked out power across the Midwest • Heavy rain is exacerbating ongoing flooding in southern Brazil • Miami is having its hottest May on record. THE TOP FIVE1. Rich countries are enriching themselves with climate aid The world’s developed countries have pledged to spend $100 billion per year helping developing nations grapple with the effects of climate change, but many of them are channeling economic benefits back to themselves, according to a new report from Reuters. France, Japan, and Germany — the three countries that reported issuing the...
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