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Photo: Justin Sullivan/Getty Images

Pacific Gas & Electrical's equipment was responsible for causing California's deadliest and most destructive wildfire that killed 85 people and burned 150,000 acres in 2018, investigators said on Wednesday.

The big picture: PG&E — California's biggest utility company — filed for bankruptcy earlier this year in anticipation of facing hefty fines following its equipment being blamed for sparking the Camp Fire. California politicians and utility companies are battling to figure out whether utilities should be allowed to pass along liabilities from fire-related damage claims to taxpayers as wildfires become more frequent and deadly in California. State fire officials have sent the investigation to the Butte County district attorney who will have the authority to pursue a criminal case, per the Modesto Bee.

Go deeper: California utility stock collapses amid wildfire liability concerns

Go deeper

9 mins ago - Podcasts

Bob Nelsen on AstraZeneca and his plan to revolutionize biotech

AstraZeneca and the University of Oxford on Monday reported promising efficacy data for their COVID-19 vaccine, which has less stringent storage requirements than the Pfizer and Moderna vaccines and may be distributed earlier in developing countries.

Axios Re:Cap digs into the state of vaccine and therapeutics manufacturing with Bob Nelsen, a successful biotech investor who on Monday launched Resilience, a giant new pharma production platform that he believes will prepare America for its next major health challenges.

Ben Geman, author of Generate
Updated 16 mins ago - Energy & Environment

Unpacking Joe Biden's decision to tap John Kerry as his climate envoy

Photo: Pablo Blazquez Dominguez/Getty Images

President-elect Joe Biden is naming former Secretary of State John Kerry as a special presidential envoy for climate change.

Why it matters: The transition team's announcement sought to show that it will be an influential role, noting that Kerry — a former Massachusetts senator and the Democrats' 2004 presidential nominee — will be on the National Security Council.

Dave Lawler, author of World
2 hours ago - World

Oxford and AstraZeneca's vaccine won't just go to rich countries

Waiting, in New Delhi. Photo: Jewel Samad/AFP via Getty Images

While the 95% efficacy rates for the Moderna and Pfizer/BioNTech vaccines are great news for the U.S. and Europe, Monday's announcement from Oxford and AstraZeneca may be far more significant for the rest of the world.

Why it matters: Oxford and AstraZeneca plan to distribute their vaccine at cost (around $3-4 per dose), and have already committed to providing over 1 billion doses to the developing world. The price tags are higher for the Pfizer ($20) and Moderna ($32-37) vaccines.