Global carbon dioxide emissions from the burning of fossil fuels are projected to rise by more than 2% in 2018 to the highest levels in recorded history, according to a new study by the Global Carbon Project.
Why it matters: The data clearly shows that the rapid growth in low carbon technologies, such as solar and wind power as well as electric vehicles, are not yet sufficient to cause global emissions of planet-warming gases to peak or decline.
After three weeks of demonstrations against an increase in gasoline taxes, French President Emmanuel Macron yielded to the Yellow Vest protesters by suspending the hikes for six months.
The big picture: The wealthy countries pushing to address climate change have been seen as best equipped to bear the costs of transitioning from fossil fuels to renewables, hence their commitment in the Paris Accord to channel energy transition funding to the developing world. But the French protests and Macron’s response suggest that even developed societies may meet resistance from their more disadvantaged members, who may not be so willing to make sacrifices to their way of life.
The multi-state power company Xcel Energy says it will provide 100% of its electricity from carbon-free sources by 2050.
Why it matters: It appears to be the first large utility to set a fully emissions-free goal for its generation mix, and Xcel also announced an interim 2030 target of cutting its emissions by 80%.
One of the biggest stories in the energy world right now is the fallout after French President Emmanuel Macron caved on new motor fuel taxes, suspending their implementation for six months after rioters flooded Paris.
Why it matters: I'm not an expert in French politics and won't pretend to understand all the dynamics at play here. But, the tumult at least partially signals the challenge of carbon pricing and raising fuel costs as a way to combat global warming, even as pricing regimes expand to more places.
Seven global insurance companies — including the world's largest primary insurers and reinsurers — have now stopped or limited insuring coal projects. These moves come at a time when the costs of climate-related impacts continue to grow.
Why it matters: The insurance industry is a key and often overlooked player in the financial system that continues to enable coal industry expansion, as well as a bellwether for broader systemic risks climate change is expected to pose. Although the international industry has begun to act, the U.S. industry continues to lag.
Violent protests in France over a now-shelved plan to raise gasoline taxes highlight the country’s comparatively high pump prices.
The big picture: People around the world pay vastly different prices to fuel their gasoline-powered vehicles, depending on how the country in which they live subsidizes or taxes the fuel. The chart above offers a snapshot of four countries with different price profiles — oil-rich Saudi Arabia subsidizes its gasoline much more than most other countries; France, along with most Western European nations, has high taxes while car-dependent America has relatively low prices compared to its global counterparts.
With France in turmoil after days of violent nationwide protests over the rising cost of fuel, President Trump claimed in a tweet on Tuesday that French President Emmanuel Macron has finally "agreed with the conclusion I reached two years ago. The Paris Agreement is fatally flawed" because it increases the price of energy benefits some of the world’s "worst polluters."
"I want clean air and clean water and have been making great strides in improving America’s environment. But American taxpayers – and American workers – shouldn’t pay to clean up others countries’ pollution.”
Reality check: The president's tweet is erroneous as Macron did not back away from the climate agreement as Trump appears to indicate. The planned fuel tax increase, which Macron suspended on Monday, technically has nothing to do with the Paris Agreement that the White House announced its intent to withdraw the U.S. from last year.
The International Energy Agency said Tuesday that combined carbon dioxide emissions from the world's advanced economies are set to rise 0.5% in 2018, ending a 5-year declining trend.
Why it matters: It's another data point in the wider picture of overall global emissions that began climbing again in 2017 after a 3-year plateau, even as scientists warn of the need for steep emissions curbs in coming years and decades to prevent high levels of warming.
A new Morningstar note explores three reasons why they see U.S. power demand rising through at least 2030: new demand from growing marijuana, charging electric cars, and powering data centers.
Why it matters: The note shows how the power grid is facing new challenges even as the overall energy efficiency of the economy grows — and how some utilities can benefit from new markets for their energy.
It's kind of a cliché — albeit an accurate one — that climate is rarely the tip of Democrats' political spear. Pew Research Center polls consistently show it's far from the public's top priority.
But, but, but: As dire scientific warnings pile up and California smolders from frequent wildfires, global warming's political profile is atypically high among Democrats on two fronts.
Superpedestrian, a Boston-based startup best known for its Copenhagen Wheel, a system that turns a regular bike into an electric one, now wants to sell a commercial-grade electric scooter to fleet operators.
The bigger picture: When scooters suddenly took over U.S. streets earlier this year, setting up a scooter rental company looked easy, thanks to manufacturers like Segway-Ninebot. But that’s not so much the case any more given the growing number of problems with the vehicles, including faulty scooters that were recalled, designs that couldn't sustain commercial use, and supply shortages.
In announcing Monday that it would leave the Organization of Petroleum Exporting Countries (OPEC), Qatar emphasized an intention to enhance its standing as the world’s leading natural-gas producer and as “a reliable and trustworthy energy supplier across the globe.” The tiny emirate, currently under a Saudi-led blockade, plans to increase its annual production of liquefied natural gas (LNG) from 77 million tons to 110 million tons in the coming years.
Why it matters: Qatar’s withdrawal from OPEC is a slap in the face of Saudi Arabia, which plays a leadership role inside the organization. It also reflects changes in global energy markets, where the competition among different fuels — coal, oil, nuclear, renewables and natural gas — is intensifying as major economies seek to decarbonize.
French President Emmanuel Macron will suspend his planned fuel tax increase — a policy that set off massive "yellow vest" street protests that resulted in the worst riots to hit Paris since 1968 — for six months, Agence France-Press reports.
The big picture: The pro-business Macron entered the presidency with the goal of reforming the French economy, hoping to implement measures like an increase to the gas tax that would stimulate long-term investment in new jobs while combatting climate change. The result, as has been the case for many French presidents seeking to reform the inert nation, was fury from protestors who viewed him as out-of-touch with ordinary citizens. More than 100 people were injured and 412 arrested in Paris riots this past weekend, per the AP.
Thousands of school children who lost their homes or classrooms in Northern California's wildfire last month returned to school for the first time in three weeks on Monday, the AP reports.
Why it matters: About 31,000 students have been unable to attend school since the Camp Fire, the state's deadliest wildfire, began to sweep through Paradise, California and surrounding neighborhoods in early November. The blaze, which is now contained, killed at least 88 people and destroyed nearly 14,000 homes in the northern part of the state. About 25 people are still missing.
