Improvements in energy efficiency on a global basis have slowed to their lowest level in a decade, the International Energy Agency said in a new analysis.
Why it matters: The slowdown is another headwind in the fight against climate change, the agency warned.
One of America's biggest oil producers, Occidental Petroleum, has a new term to describe how it hopes to evolve in response to climate change.
What they're saying: “Ultimately, I don’t know how many years from now, Occidental becomes a carbon management company and our oil and gas would be a support business unit for the management of that carbon," Occidental CEO Vicki Hollub told IHS Markit's Daniel Yergin in an interview.
Senate Minority Leader Chuck Schumer (D-N.Y.) has urged President-elect Joe Biden to nominate Mary Nichols, chair of California's air pollution regulator, to lead the Environmental Protection Agency, Bloomberg reports.
Why it matters: The reported push by Schumer could boost Nichol's chances of leading an agency that will play a pivotal role in Biden's vow to enact aggressive new climate policies — especially because the plan is likely to rest heavily on executive actions.
Crude prices are trading at nine-month highs after a protracted OPEC+ meeting ended with plans to just slightly boost output and fresh signs emerged of a potential Beltway deal on new stimulus.
Driving the news: OPEC+ yesterday avoided a breakdown that would have led to a large output boost in January.
Copper prices rose to the highest since March 2013 on Thursday, spurred by substantial increases in orders from China and expectations it will be a major component in new green energy projects.
Why it matters: Dr. Copper, as the metal is affectionately known, is a bellwether for the economy because it is used for wiring, piping and in most construction projects and household appliances.
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