Why it matters: Ominous forecasts about the impact of climate change serve as the backdrop for the world — led by U.S. lawmakers and companies — to debate big action on the problem, which could upend energy systems and our way of life.
Firefighters in Orange County, Southern California, battled into the night two growing wildfires that have burned across more than 27,000 acres and forced tens of thousands of people to evacuate.
The state of play: The blazes have been driven by strong Santa Ana winds and forced the evacuation of some 92,000 people Monday, per Orange County Fire Authority officials. Mandatory evacuation orders were lifted for some parts of the city of Irvine late Tuesday as the fires continued to grow.
Fracking has become a flashpoint in the election's final week, particularly in Pennsylvania where both President Trump and Joe Biden made stops on Monday. But much of the political rhetoric has ignored that the industry has gone from boom to bust, beset by layoffs, bankruptcies and fire-sale mergers.
Axios Re:Cap digs into the state of fracking, and what it means for the future of American energy, with Bob McNally, president of Rapidan Energy Group.
Now that Japan has set a target to become carbon-neutral by 2050, the scale of the challenge is coming into focus — especially when it comes to the country's reliance on coal.
Driving the news: Prime Minister Yoshihide Suga's Monday speech announcing the target vowed to "fundamentally shift our long-standing policy on coal-fired power generation," Climate Home News reports.
A big new UN report delves deeply into an under-the-radar problem: the long-lasting carbon emissions and pollution from used cars shipped from wealthy nations to poorer ones.
The big picture: The UN Environment Programme report finds that between 2015 and 2018, the U.S., EU and Japan together exported 14 million used light-duty vehicles, with 70% going to developing nations. Africa is the largest export destination.
BP reported an $86 million third-quarter profit Tuesday — a result that beat analysts' expectations but nonetheless signals how the pandemic is weighing heavily on the industry.
Why it matters: It's the first of several earnings reports this week from oil-and-gas giants that provide the latest window on COVID-19's ongoing effect. Shell reports Thursday and U.S. giants Chevron and Exxon report Friday.