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Data: BP Energy Outlook; Chart: Danielle Alberti/Axios

The biggest takeaway from BP's annual long-term outlook was about peak oil demand, but there are other interesting points in the report as well— including its take on coal's future.

Why it matters: While global consumption is already heading downward, the slope of the decline absent much stronger policies is nowhere near consistent with holding the temperature rise in check.

Here's how BP thinks coal's future could look under two broad scenarios:

  • "Business as usual" represents what happens if "government policies, technologies and social preferences continue to evolve in a manner and speed seen over the recent past."
  • The other two scenarios represent an energy system consistent with meeting the temperature-limiting goals of the Paris Agreement.

Go deeper

Amy Harder, author of Generate
Dec 24, 2020 - Energy & Environment

States and companies are now hotbeds of climate action

Illustration: Annelise Capossela/Axios

In the four years since the U.S. federal government last paid serious attention to climate change, the problem has become a top priority across states and corporations.

Why it matters: Washington, D.C. isn't the only place, or even the most important place, where meaningful climate change action is likely to happen in the coming years.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Investors increase their exuberance

Illustration: Eniola Odetunde/Axios

U.S. stocks jumped across the board on Monday and the S&P 500 had its best day since June 5, as the bulls stepped in and bought the dips in stock prices following last week's minor selloff.

Why it matters: While some have worried rising U.S. interest rates would dampen investor exuberance over the expected pickup in economic growth thanks to increasing vaccine numbers and big fiscal spending hopes, Monday showed investors still like risk assets. A lot.

3 hours ago - World

China and Russia vaccinate the world — for now

Illustration: Aïda Amer/Axios

While the U.S. and Europe focus on vaccinating their own populations, China and Russia are sending millions of COVID-19 vaccine doses to countries around the world.

Why it matters: China's double success in controlling its domestic outbreak and producing several viable vaccines has allowed it to focus on providing doses abroad — an effort that could help to save lives across several continents.