The Trafigura Group, a giant trader of oil and other commodities, is forming a new company to invest in renewables and energy storage projects worldwide.
Driving the news: Nala Renewables is a joint venture with the fund manager IFM Investors. They hope to develop 2 gigawatts worth of projects over the next five years.
The oil-and-gas producers Devon Energy and WPX Energy are merging in a roughly $2.6 billion all-stock transaction that comes as U.S. producers are struggling with depressed prices and demand.
Why it matters: The deal between two companies active in the prolific Permian Basin of Texas and New Mexico will help create economies of scale and improved margins, they said this morning.
Amy Coney Barrett's likely ascension to the Supreme Court would affect climate policy beyond shoving the court rightward in the abstract.
Why it matters: If Joe Biden wins the presidential election, his regulations and potential new climate laws would face litigation that could reach the high court.
Firefighters in the western U.S. were facing "critical fire weather conditions," as a rapidly spreading new wildfire in Northern California prompted fresh evacuations Sunday.
Why it matters: Wildfires have burned a record 3.6 million acres in California this year, killing 26 people and razing over 7,600 structures, per Cal Fire. Utility provider Pacific Gas & Electric cut power to 11,000 customers early Sunday and planned outages for 54,000 others later in the day because of fire risks.
