Japan's new prime minister said on Monday the nation will seek to become carbon neutral by 2050, a move that will require huge changes in its fossil fuel-heavy energy mix in order to succeed.
Why it matters: Japan is the world's fifth-largest source of carbon emissions. The new goal announced by Prime Minister Yoshihide Suga is stronger than the country's previous target of becoming carbon neutral as early as possible in the latter half of the century.
Private equity is watching the consolidation of the North American oil and gas sector from the sidelines, instead focusing its energy efforts on renewables.
Driving the news: Cenovus Energy on Sunday agreed to buy Husky Energy for $2.9 billion in stock, in a deal that would create Canada’s third-largest oil and gas producer.
Expect President Trump to redouble his efforts loosening regulations and questioning climate-change science should he win re-election next month.
Driving the news: A second Trump administration would supercharge efforts by certain states, countries and companies to address global warming. But some wildcards could have a greener tinge.
President Trump's campaign is making energy policy a prominent part of its closing swing state attacks against Joe Biden — especially in Pennsylvania, a state critical to Trump's reelection effort where he's trailing in the polls.
Driving the news: Trump's efforts include a new ad in Pennsylvania alleging that his Democratic presidential rival would crush the state's gas industry, and his campaign has aggressively deployed surrogates talking about energy in recent days.
Pacific Gas & Electric (PG&E) announced Sunday that it would begin power shut-offs for roughly 361,000 California customers due to dry weather that could risk wildfire spread.
Cenovus Energy is buying Husky Energy in an all-stock deal valued at $18 billion including debt, the latest step in a wave of industry consolidation amid a pandemic that has sapped oil prices and demand.
Why it matters: The agreement will create Canada's third-largest oil-and-gas producer, with 750,000 barrels of oil equivalent per day in combined production, the company said, which includes lots of oil-sands and heavy oil output.
As the 2020 presidential campaign draws to a close, President Trump and Joe Biden have focused little on some of the most sweeping trends that will outlive the fights of the moment.
Why it matters: Both have engaged on some issues, like climate change and China, on their own terms, and Biden has addressed themes like economic inequality that work to his advantage. But others have gone largely unmentioned — a missed opportunity to address big shifts that are changing the country.
