Ben Dell's job is to buy oil and gas assets, as a managing partner of private equity firm Kimmeridge. And he has a message for his peers: You're going unacceptably slow on carbon neutrality.
Driving the news: Kimmeridge recently formed Civitas Resources, via the $2.3 billion all-stock merger of publicly traded Bonanza Creek Energy and Extraction Oil & Gas. Civitas then purchased Crestone Peak, creating the largest pure-play energy producer in Colorado's DJ Basin.
Former President Obama told the COP26 conference Monday that the "U.S. is back" and "once again engaged" in leading the fight against climate change, following four years of "hostility toward climate science" from the Trump administration.
Driving the news: Obama said he "wasn't really happy" with former President Trump's decision to pull the U.S. out of the Paris climate accord. But despite Trump's actions, Obama said, local and state governments, along with regulations from his administration, "allowed our country to keep moving forward."
GLASGOW, Scotland — By the time many of the pledges made in Glasgow this week are met (or not), some of the participating countries may no longer exist.
Driving the news: The world’s 40-some small island states have used COP26 to plead for more urgent action — while there's still time — and to confront world powers like the U.S. and China with the devastation their emissions have caused.
GLASGOW, Scotland — The drumbeat of public and private announcements during the first week of COP26, including big moves on deforestation and methane emissions, are now giving way to a more formal, contentious and political phase.
Why it matters: The summit is viewed as a key test of the notion that all countries of the world can work together through a voluntary system to rein in global warming before it worsens more significantly.
Energy Secretary Jennifer Granholm on Sunday said that President Biden is "looking at" tapping into the nation's Strategic Petroleum Reserve to address rising oil prices.
Why it matters via Axios' Ben Geman: Granholm's remarks on CNN's "State of the Union" come after OPEC+ decided last week to stick with only a moderate output increase, which is likely to keep crude prices elevated.
Drought, rising sea levels and melting ice caps are transforming the geopolitical map at the same time China's rise and revanchist Russia are testing the limits of American power.
Driving the news: These dynamics, outlined in the first-ever National Intelligence Estimate (NIE) on climate change, released last month, played out this past week at the COP26 climate summit in Glasgow. President Biden rebuked China's Xi Jinping for failing to show up or present new commitments.
