The gap between global investment in oil-and-gas projects compared to renewables is narrowing, analysis from the consultancy Rystad Energy shows.
Why it matters: The analysis captures two trends — a downturn in oil-and-gas investment after companies slashed spending during the pandemic, and the growth and cost competitiveness of renewables.
The EV startup Rivian has disclosed details about its plan to build out a charging network for drivers of the SUV and pickup going into production this year.
Driving the news: The company said Thursday that its "Rivian Adventure Network" is slated to have over 3,500 fast chargers across over 600 sites nationwide (and some in Canada) by the end of 2023.
Almost a half of the United States — a tract of land stretching from the Pacific Coast to the Great Plains and upper Midwest — is experiencing moderate to exceptional drought conditions, the National Oceanic and Atmospheric Administration said Thursday.
Why it matters: Conditions have prompted weather and agriculture officials to warn of water cutback in California, increased wildfires in the Southwest and damage to wheat crops around the country, according to AP.
21 states filed a lawsuit against President Biden on Wednesday over his executive order to rescind permits for the Keystone XL oil pipeline.
Driving the news: The suit, filed in the U.S. District Court in Texas, aims to overturn Biden's decision, arguing that he overstepped his authority by ordering a cross-border permit for the Canada-U.S. pipeline to be revoked.
