California Gov. Gavin Newsom (D) announced on Friday that President Trump reversed his earlier decision to reject wildfire disaster relief for the state, hours after Trump administration officials explained why the state should not receive the aid.
Investors in the oil-and-gas industry want companies to get greener, and they're losing faith that the sector, which is underperforming broader market indices, is a good long-term bet, per a new Boston Consulting Group survey of investors.
Why it matters: The investor views come as the industry is facing its highest levels of uncertainty and environmental pressure in a long time, if ever.
Residential electricity consumption rose 10% in the second quarter as the pandemic kept many people at home, new research shows.
Why it matters: The new paper from Tufts University economist Steve Cicala is another window onto how COVID-19 is shifting energy use patterns and creating financial hardship.
Shares of Concho Resources jumped yesterday on the heels of a Bloomberg report that ConocoPhillips might acquire the company.
Why it matters: The deal, if it happens, will be another sign that the pandemic-fueled industry downturn could bring new consolidation to the U.S. sector. Or maybe not.
The European Commission yesterday unveiled a wide-ranging strategy to cut methane pollution, noting it's "essential to reaching our 2030 climate targets and the 2050 climate neutrality goal."
Why it matters:Reuters flags the importance of the plan's consideration of binding standards on natural gas, noting it's a "clearer commitment than previous drafts, which shied away from methane limits on gas consumed in Europe."
Google Cloud announced Thursday a five-year agreement with the Energy Department to provide the agency with access to a "broad range" of cloud technologies.
Why it matters: The Energy Department has a vast research arm and needs highly sophisticated and powerful computing. Google said the tech will enable a wide range of "use cases."
BP is dipping into its deep pocketbooks to help state-level climate proposals around the country.
Why it matters: Oil companies — European ones especially — have said in recent years they support climate policy, but there hasn't been much action behind the rhetoric. The fact that real lobbying efforts are underway suggests change is really afoot.
Why it matters: It's another indicator of the impact of human-induced climate change. The data also illustrate this year is on pace to be among the hottest recorded, with the possibility of tying or breaking the record, set in 2016.
