A volcano that had been inactive for roughly 6,000 years erupted on Friday night on the Reykjanes Peninsula in southwestern Iceland, according to AP.
Why it matters: The eruption — which is relatively small for now — is the area's first in 781 years, the glow from which could be seen up to 20 miles away in Reykjavík, the country's capital. Iceland's Department of Emergency Management does not expect to issue evacuations since the Fagradals Mountain volcano is located in a remote area.
Some environmentalists and economists are pushing for "degrowth" — stabilizing or even shrinking the economy — to avert environmental catastrophe.
The big picture: Degrowthism may seem like the only reasonable response to the climate challenges we face, but the experience of enforced economic shrinking during the pandemic indicates the pain would outweigh the benefits — especially for the world's poorest.
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.
