Fracking has become a flashpoint in the election's final week, particularly in Pennsylvania where both President Trump and Joe Biden made stops on Monday. But much of the political rhetoric has ignored that the industry has gone from boom to bust, beset by layoffs, bankruptcies and fire-sale mergers.
Axios Re:Cap digs into the state of fracking, and what it means for the future of American energy, with Bob McNally, president of Rapidan Energy Group.
Now that Japan has set a target to become carbon-neutral by 2050, the scale of the challenge is coming into focus — especially when it comes to the country's reliance on coal.
Driving the news: Prime Minister Yoshihide Suga's Monday speech announcing the target vowed to "fundamentally shift our long-standing policy on coal-fired power generation," Climate Home News reports.
A big new UN report delves deeply into an under-the-radar problem: the long-lasting carbon emissions and pollution from used cars shipped from wealthy nations to poorer ones.
The big picture: The UN Environment Programme report finds that between 2015 and 2018, the U.S., EU and Japan together exported 14 million used light-duty vehicles, with 70% going to developing nations. Africa is the largest export destination.
BP reported an $86 million third-quarter profit Tuesday — a result that beat analysts' expectations but nonetheless signals how the pandemic is weighing heavily on the industry.
Why it matters: It's the first of several earnings reports this week from oil-and-gas giants that provide the latest window on COVID-19's ongoing effect. Shell reports Thursday and U.S. giants Chevron and Exxon report Friday.
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.
