Pope Francis encouraged governments and corporations around the world to protect the planet against climate change and help the poor in a TED talk, AP reports.
Why it matters: Francis warned that the world has "roughly fewer than 30" years to reduce carbon emissions and avoid the worst of climate change. He added that the transition from carbon-based fuels should take into account low-income populations and energy sector workers.
The costs of keeping global warming below 1.5°C would exceed the economic benefits up through the year 2100, according to a new study.
Why it matters: One of the biggest challenges to climate action is time delay: we need to pay now to reduce greenhouse gas emissions, but we won't experience the full benefits of those actions for generations into the future.
On the next episode of “Axios on HBO,” Axios energy reporter Amy Harder asks BP CEO Bernard Looney why the company’s pivot to renewable energy is different now compared to its failed attempt to rebrand 20 years ago.
Catch the full interview on Monday, October 12 at 11:05 p.m. ET/PT on all HBO platforms.
You can always get more “Axios on HBO” in the Axios app, available here on mobile devices.
Electric truck startup Rivian must have a lot of confidence in its product to enter the very first vehicle to roll off the assembly line into a grueling, 10-day off-road challenge.
The state of play: Rivian's R1T pickup is also the first fully electric vehicle to compete in the Rebelle Rally, an all-female, off-road rally that kicked off Thursday.
After years of unmet promises, hydrogen vehicles could finally be catching on. If so, it'll be a convoy of clean semi-trucks — not a bunch of quirky passenger cars — leading the way.
The big picture: We've been hearing about zero-emission, fuel-cell vehicles for decades as the answer to our worries about fossil fuels and climate change. But even now, the economic and practical challenges are still too difficult to overcome — except, perhaps, for commercial truck fleets.
A Goldman Sachs note this week helps visualize one reason analysts believe Devon Energy's $2.6 billion merger with WPX Energy makes sense: It helps Biden-proof Devon to a degree.
The state of play: Goldman analysts looked at how much of various shale producers acreage in the prolific Permian Basin is on federal lands, since Joe Biden has pledged to thwart new oil-and-gas development there. Devon's federal lands exposure is one reason their shares "remain out of favor," Goldman notes, although WPX also has a decent — albeit much smaller — share of their acreage in federal areas.
Amazon has taken the wraps off the first electric delivery van developed with the Rivian, the EV startup slated to begin mass producing vehicles for the e-commerce giant.
Why it matters: It shows that Amazon is moving to turn its pledge to be carbon neutral by 2040 into concrete steps and technology deployment.
The huge multinational oil-and-gas company Total SE is investing in the hydrogen fuel cell truck and bus startup Hyzon Motors, the companies announced this morning.
Why it matters: It's the latest sign of increasing interest in hydrogen-powered heavy vehicles amid moves by startups and legacy automakers alike. It also shows how European-headquartered oil giants are boosting their alternative energy portfolios, even though hydrocarbons remain their dominant business lines.
Pennsylvania, the big swing state that President Trump narrowly won in 2016, is now the second-largest natural gas producer behind Texas.
Why it matters: Trump and Vice President Pence are frequently accusing former vice president Joe Biden and running mate Sen. Kamala Harris of wanting to ban fracking — costing jobs in the process.
Activists say they'll deliver on Friday signatures from more than 600 law students pledging to boycott the firm Paul, Weiss, Rifkind, Wharton & Garrison unless it ditches Exxon as a client.
Why it matters: It signals the evolving tactics of climate advocates. Another example of the widening scope are campaigns in recent years to pressure tech giants over their emissions and work with oil companies.
