China's vow to reach carbon neutrality by 2060 is starting to produce some helpful analyses of how the world's largest greenhouse gas emitter might actually get there.
Why it matters: The plan seems to be achievable, in theory, but the numbers around the needed expansion of carbon-free power, industrial fuels and vehicles are pretty wild.
Well that, as Ron Burgundy would say, escalated quickly. China's foreign ministry is accusing the Trump administration of "major retrogression" on climate and being an environmental "troublemaker."
Why it matters: China's unusual statement Monday widens the rupture between the world's largest carbon emitters as global climate efforts are flagging and the pandemic's effect on emissions is too small to be consequential in the long term.
The financial advisory firm Lazard is out with its latest analysis of costs for competing energy technologies, and it says a lot about where the U.S. and global power sectors are heading.
Driving the news: The annual analysis shows continued cost declines for wind and solar, albeit not as dramatic anymore, as the chart above shows.
Shares of Concho Resources jumped yesterday on the heels of a Bloomberg report that ConocoPhillips might acquire the company.
On the next episode of “Axios on HBO,” Axios energy reporter Amy Harder asks BP CEO Bernard Looney why the company’s pivot to renewable energy is different now compared to its failed attempt to rebrand 20 years ago.
After years of unmet promises, hydrogen vehicles could finally be catching on. If so, it'll be a convoy of clean semi-trucks — not a bunch of quirky passenger cars — leading the way.
The big picture: We've been hearing about zero-emission, fuel-cell vehicles for decades as the answer to our worries about fossil fuels and climate change. But even now, the economic and practical challenges are still too difficult to overcome — except, perhaps, for commercial truck fleets.
China's recently announced plan to reach carbon neutrality by 2060 would require investments of over $5 trillion, per new analysis from the consultancy Wood Mackenzie.
Why it matters: The estimate released Thursday shows how analysts are beginning to grapple with how China, by far the world's largest carbon emitter, might take steps to implement aspects of its ambitious but still-vague pledge.
The exchanges on climate and energy in last night's VP debate broke no new policy ground but did offer a window onto the campaigns' political strategies as Joe Biden leads heading into the final weeks.
Why it matters: The topics are getting prime-time love in the debates in sharp contrast to prior cycles, and the chasm between the platforms is immense.
Here's one more way the pandemic is hitting people's finances: New federal projections show higher winter heating bills, and COVID-19 is partly to blame.
Driving the news: Households that heat with gas, electricity and propane are expected to pay more on average this winter, while heating oil users may see lower bills, per an Energy Information Administration outlook.
The big picture: "More people are working and attending school from home this year, which EIA expects will increase demand for space heating at any given temperature relative to past winters," the agency said.
The corporate and geopolitical winners in a world that gets serious about cutting carbon emissions aren't easy to predict.
Driving the news: A new Moody's Investors Service report looks at how "energy transition" creates risks and opportunities for state-owned oil-and-gas companies like Saudi Aramco, Russia's Gazprom and China's CNPC.