Friday's energy & environment stories

GM and EVgo plan to expand fast-charging network for electric vehicles

EVgo fast chargers will be located in cities and suburbs. Photo: GM

General Motors and EVgo plan to add more than 2,700 new public fast-charging stations in the next five years as a way to help accelerate widespread electric vehicle adoption.

Why it matters: Automakers are bringing out scores of new battery-powered models, but before they buy, consumers want confidence that they'll be able to charge even when they're away from home.

China's Kandi aims to provide the lowest-cost electric vehicle in the U.S. market

Kandi Model K27. Image courtesy of Kandi America

Kandi America's Model K27, a small EV from the U.S. subsidiary of China's Kandi Technologies Group, is slated to begin limited U.S. delivery late this year.

Why it matters: The cost — Kandi says the K27 starts at $12,999 once you include the $7,500 federal tax credit and has an estimated 100-mile range.

The stage is set for a battle on sustainable investing

Illustration: Sarah Grillo/Axios

It's hardly the biggest regulatory fight of the Trump era, but there's an important battle raging over plans to restrict sustainable investing that also distills the energy and climate politics of the moment.

Driving the news: The Labor Department is planning to limit private retirement plan managers' leeway to invest based on ESG — environmental, social and governance — factors.

U.S. oil giants Exxon and Chevron post big losses

Data: Yahoo Finance; Chart: Andrew Witherspoon/Axios

The two largest U.S.-based multinational oil-and-gas giants both announced billions of dollars in second-quarter losses Friday in results that show the pandemic's toll on the industry.

Driving the news: ExxonMobil, citing "global oversupply and COVID-related demand impacts," reported a $1.1 billion loss, compared to $3.1 billion in profits the same period last year.

Ohio House speaker removed after arrest in bribery scheme

Ohio statehouse. Photo: Matthew Hatcher/Getty Images

Members of the Ohio House voted on Thursday to strip Speaker Larry Householder (R) of his leadership position following his arrest earlier this month related to an alleged $60 million bribery scheme.

Why it matters: The Ohio House has never before removed a speaker, AP reports. Bipartisan support for removing Householder has accumulated since the affidavit’s release. The vote was unanimous; he retains his seat.

Oil giants Shell and Total report profits despite staggering earnings declines

Photo: Patrick Pleul/picture alliance via Getty Images

Shell and Total SA announced mammoth earnings declines Thursday that reflect the pandemic's toll on energy prices and demand, but the companies nonetheless beat expectations and eked out profits.

Driving the news: Shell announced second-quarter adjusted net earnings of $638 million, an 82% decline from the same period last year.

The long road to clean energy innovation

Adapted from IEA; Note: We simplified three names and some of these technologies are commercial. More info below. Chart: Andrew Witherspoon/Axios

Scaling up technologies key to combating climate change will take anywhere between 18 years to more than 100, the International Energy Agency found in a recent report.

Why it matters: Scientists say the world must find ways to drastically cut heat-trapping emissions over the next 30 years, but the path of innovating and scaling is stubbornly long, even in the best of scenarios.

Bucking trend, offshore wind builds with unions

Illustration: Annelise Capossela/Axios

Unions are going offshore to find a receptive renewable energy.

Driving the news: America’s nascent offshore wind industry, which requires uniquely complex infrastructure, is being built out with strong labor agreements that were largely absent from their onshore counterparts.