The Treasury Department said it's moving quickly to transform new and expanded tax credits in the big climate law into formal guidance that's important for spurring use of the incentives.
Driving the news: Treasury yesterday solicited public comment within 30 days on a slew of areas like subsidies for renewable power, manufacturing and more.
As Sydney experiences its wettest year since records began in 1858, widespread heavy rains left much of eastern Australia on flood alert Thursday.
The big picture: At least 20 people have died in Australia this year because of widespread flooding driven by climate change and the La Niña conditions present for a third-straight year in the Pacific, according to climate scientists.
Interior Secretary Deb Haaland announced Wednesday that the U.S. will expand the Sand Creek Massacre National Historic Site dedicated to commemorating the Native Americans slaughtered by U.S. troops in 1864.
Flashback: In November that year, U.S. soldiers attacked an encampment of roughly 750 Native people along the high banks of Sand Creek in what is now southeastern Colorado. They wounded and killed about 230 people, half of whom were women and children.
Human-caused climate change made the drought conditions that gripped large portions of the Northern Hemisphere this past summer far more likely to occur, a new study found.
Why it matters: The study, published Wednesday, found human-caused global warming dramatically upped the odds of drought throughout the hemisphere outside of the tropics — making them at least 20 times more likely compared to the preindustrial era.
President Biden has tried to convince the Saudis to pump more oil with honey. Now he's trying vinegar.
Why it matters: With a new warning that the White House might support legislation targeting OPEC+ in Congress, Biden crossed a symbolic threshold — and sent a clear signal to the Saudis that he’s prepared to escalate.
OPEC+ is jolting oil markets this week with plans to cut output — and the ripples could reach all the way to the U.S. midterm elections.
Driving the news: The coalition of OPEC, Russia and allied producers on Wednesday announced cuts of 2 million barrels per day in Vienna starting in November 2022.
Form Energy, a Massachusetts-based developer of long duration battery storage using iron, raised $450 million in Series E funding led by TPG Rise.
Why it marters: Long duration storage — a battery that can last for days or even weeks, instead of hours — is key to decarbonizing the electric grid, because it supports inherently intermittent renewables like wind and solar. Particularly at utility scale.
People who buy electric vehicles (EVs) really like them, according to U.S. vehicle registration data, which shows most EV owners tend to buy an EV for their next car, too.
Why it matters: The data reveals a growing embrace of electric cars as automakers and the federal government pour billions of dollars into EV and battery production.
Affordable housing in the U.S. typically diminishes after a disaster, and experts expect parts of southwest Florida will see the same following Hurricane Ian.
The big picture: It's a pattern that exacerbates inequities in relief and recovery efforts — and leaves thousands with nowhere to go.
