ExxonMobil reported a $680 million quarterly loss on Friday and announced plans for steep spending cuts, which comes just a day after it revealed plans for major layoffs.
Why it matters: The announcements signal how the company, which has made huge investments in supply expansions in recent years, is struggling to adjust to the sector's new reality.
New or expanded climate initiatives are popping up at several universities, a sign of the topic's rising prominence and recognition of the threats and opportunities it creates.
Why it matters: Climate and clean energy initiatives at colleges and universities are nothing new, but it shows expanded an campus focus as the effects of climate change are becoming increasingly apparent, and the world is nowhere near the steep emissions cuts that scientists say are needed to hold future warming in check.
The CEO of the American Petroleum Institute criticized the French government’s move blocking a $7 billion deal to import U.S. liquefied natural gas over concerns about climate change.
Why it matters: The tension reflects intercontinental division over how aggressively governments and companies should tackle global warming, including the potent greenhouse gas methane that’s the primary component of gas.
Trash systems that use vacuum suction and pneumatic tubes to whoosh garbage from people's homes and sidewalk bins have been around for decades, but are gaining new traction in the U.S.
Why it matters: These systems — which currently serve Disney World and Manhattan's Roosevelt Island — get municipal garbage trucks off the streets and offer a cleaner and more environmentally friendly waste removal.
Royal Dutch Shell reported a nearly $1 billion third-quarter profit Thursday, beating analysts' forecasts, and announced a slight increase in dividends.
Driving the news: Its stock is up 3% in premarket trading this morning but remains at roughly 25-year lows as the sector faces headwinds from COVID-19's effect on prices and demand.
The pandemic is throwing a wrench into Americans' understanding of science, which has big implications for climate change.
Driving the news: Recent focus groups in battleground states suggest some voters are more skeptical of scientists in the wake of the coronavirus pandemic, while surveys reveal the persistence of a deep partisan divide.
Tropical Storm Zeta has killed at least two people, triggered flooding, downed powerlines and caused widespread outages since making landfall in Louisiana as a Category 2 hurricane on Wednesday.
The big picture: A record 11 named storms have made landfall in the U.S. this year. Zeta is the fifth named storm to do so in Louisiana in 2020, the most ever recorded. It weakened t0 a tropical storm early Thursday, as it continued to lash parts of Alabama and the Florida Panhandle with heavy rains and strong winds.
Tropical Storm Zeta has killed at least two people and caused hundreds of thousands of people to lose power after making landfall in Louisiana as a Category 2 hurricane Wednesday.
Details: After "battering southeastern Louisiana and southern Mississippi," Zeta weakened to a tropical storm over central Alabama early on Thursday, but it was still pummeling parts of the state and the Florida Panhandle with heavy winds and rains, per the National Hurricane Center.
