Illustration: Annelise Capossela/Axios
The coronavirus pandemic is systematically demolishing the entire concept of efficiency.
Why it matters: Using energy more efficiently accounts for the largest share — nearly 40% — of the reductions in heat-trapping emissions needed to meet the goals of the Paris Climate Agreement.
Investors in the oil-and-gas industry want companies to get greener, and they're losing faith that the sector, which is underperforming broader market indices, is a good long-term bet, per a new Boston Consulting Group survey of investors.
Why it matters: The investor views come as the industry is facing its highest levels of uncertainty and environmental pressure in a long time, if ever.
Illustration: Sarah Grillo/Axios
Residential electricity consumption rose 10% in the second quarter as the pandemic kept many people at home, new research shows.
Why it matters: The new paper from Tufts University economist Steve Cicala is another window onto how COVID-19 is shifting energy use patterns and creating financial hardship.
Shares of Concho Resources jumped yesterday on the heels of a Bloomberg report that ConocoPhillips might acquire the company.
Why it matters: The deal, if it happens, will be another sign that the pandemic-fueled industry downturn could bring new consolidation to the U.S. sector. Or maybe not.
Illustration: Sarah Grillo/Axios
The European Commission yesterday unveiled a wide-ranging strategy to cut methane pollution, noting it's "essential to reaching our 2030 climate targets and the 2050 climate neutrality goal."
Why it matters: Reuters flags the importance of the plan's consideration of binding standards on natural gas, noting it's a "clearer commitment than previous drafts, which shied away from methane limits on gas consumed in Europe."
The Bidwell Bar Bridge surrounded by fire during the Bear fire in Oroville, California in September. Photo: JOSH EDELSON/AFP via Getty Images
This September was the hottest recorded on Earth since 1880, the National Oceanic and Atmospheric Administration announced Wednesday.
Why it matters: It's another indicator of the impact of human-induced climate change. The data also illustrate this year is on pace to be among the hottest recorded, with the possibility of tying or breaking the record, set in 2016.
The International Energy Agency's very long-term outlook released Tuesday offers useful analyses about the cloudy future of the industry and petro-states.
Why it matters: The pandemic's long-term effects and the prospect of future climate policies are together causing a rethink of the sector's financial future.
The coronavirus pandemic is altering the long-term future of oil, but global thirst for the fuel will nonetheless remain large for decades, the International Energy Agency said a sprawling new report released Tuesday.
Why it matters: Its the IEA's deepest effort yet to game out how COVID-19 is changing the future of oil, and energy systems overall in the years ahead.
Illustration: Annelise Capossela/Axios
The International Energy Agency examined what happens if current and planned fossil fuel infrastructure worldwide is operated through its estimated lifespan.
Why it matters: That alone, it finds, could easily blow past the goal of holding warming to 1.5°C above preindustrial levels. That's the most ambitious and longshot goal of the Paris agreement to lessen harm from climate change.
Pope Francis at his weekly general audience at the Vatican on Oct. 7. Photo: Massimo Valicchia/NurPhoto via Getty Images.
Pope Francis encouraged governments and corporations around the world to protect the planet against climate change and help the poor in a TED talk, AP reports.
Why it matters: Francis warned that the world has "roughly fewer than 30" years to reduce carbon emissions and avoid the worst of climate change. He added that the transition from carbon-based fuels should take into account low-income populations and energy sector workers.