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.
Hyundai Motor Company delivered its first XCIENT fuel cell heavy-duty trucks on Tuesday to customers in Europe, and announced aggressive plans to bring hydrogen-powered trucks to the U.S. and China, too.
Why it matters: While most major truck manufacturers are working on hydrogen trucks as a cleaner alternative to diesel, Hyundai is well beyond the prototype phase and is preparing to produce as many as 2,000 trucks a year starting in 2021.
Hydrogen-powered heavy trucking is becoming more and more of a thing, even as it's unclear whether fuel cells or battery electrics will ultimately win the long race to decarbonize road freight.
Why it matters: Heavy diesel trucks and industrial vehicles are a huge source of carbon emissions worldwide, and a number of legacy automakers and startups are moving ahead with electric and hydrogen models.
The oil, gas and chemicals industry shed 107,000 U.S. jobs in March–August as the pandemic hit prices and the wider economy, marking the fastest rate of layoffs in industry history, Deloitte analysts said.
Why it matters: Their new report released Monday warns that the sector's employment may remain depressed for a long time.
The American Petroleum Institute is launching a digital ad barrage in the closing weeks of the election that promotes natural gas and industry access to drilling in areas Joe Biden would place off-limits.
Why it matters: API is the industry's most powerful lobbying group. The seven-figure buy shows how the industry sees the threat from Democratic climate proposals — including a ban on new oil-and-gas leases on federal lands.
From the apocalypse files: A new Energy Information Administration analysis shows that pollution from California's dreadful wildfires has substantially curtailed solar power generation in the state.
Why it matters: Everything's connected. The growing wildfires in California — a problem worsened in part by global warming — create complications for one of the power sources that can help fight climate change.
America’s nascent offshore wind industry is getting a boost with news Thursday that should make it easier to support the sector's massive infrastructure.
Driving the news: Denmark-based Ørsted, the world’s leading offshore wind developer, has inked a multi-million-dollar deal with a U.S. shipbuilder to construct the sector’s first ship that's compliant with a law controlling shipping goods in U.S. waters.
The Trafigura Group, a giant trader of oil and other commodities, is forming a new company to invest in renewables and energy storage projects worldwide.
Driving the news: Nala Renewables is a joint venture with the fund manager IFM Investors. They hope to develop 2 gigawatts worth of projects over the next five years.
A new note from RBC Capital Markets explains why electric and hydrogen truck startup Nikola may be poised to succeed despite now-departed founder Trevor Milton's allegedly false claims about its progress and tech.
Details: Instead, "What made NKLA unique was [the opportunity] to sell 'routes' via fuel cell truck leases, and helping industry solve 'chicken and egg' problem associated with hydrogen infrastructure build-out."