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Global energy investments stabilized last year after three years of decline, due to greater spending on oil, natural gas and coal, according to a new International Energy Agency report just published.

What they’re saying: Fatih Birol, IEA executive director, says that “the world is not investing enough in traditional elements of supply to maintain today’s consumption patterns, nor is it investing enough in cleaner energy technologies to change course. Whichever way you look, we are storing up risks for the future.”

Report highlights:

  • Coal comeback: Coal supply investment increased for the first time since 2012, up 2% between 2017 and 2018.
  • Distribution disparities: Just 14% of energy investment dollars in 2018 went to regions where 42% of the world’s population live.
  • Chinese dominance: China spends nearly 0.08% of its GDP on energy research and development, and it's widening the gap compared to the rest of the world (whose spending is less than 0.05% per GDP).
  • Battery boost: Investment in battery storage rose by 45% between 2017 and 2018 to a record $4 billion.
  • Oil imbalance: Oil spending levels would need to drop to meet the 2015 Paris Climate Agreement goals, but they also “fall well short of what would be needed in a world of continued strong oil demand.”

Go deeper: Click here to sign up for our energy newsletter to read more about the report, particularly that last point.

Go deeper

Updated 2 hours ago - World

U.S. airstrike kills senior al-Qaeda leader in Syria, DOD says

A displacement camp near the village of Qah in Syria's northwestern Idlib province. Photo: Ahmad Al-Atrash/AFP via Getty Images

A U.S. airstrike in northwest Syria on Friday killed senior al-Qaeda leader Abdul Hamid al-Matar, U.S. Central Command said in a statement.

Why it matters: Syria serves as a "safe haven" for the extremist group to plan external operations, according to U.S. Army Maj. John Rigsbee.

Updated 7 hours ago - Politics & Policy

Giuliani associate Lev Parnas convicted of campaign finance crimes

Lev Parnas, a former associate of then-President Donald Trump’s personal lawyer Rudy Giuliani. Photo: Stefani Reynolds/Bloomberg via Getty Images

Florida businessman Lev Parnas was convicted Friday on charges of conspiracy to make foreign contributions to political campaigns, according to multiple outlets.

Why it matters: Prosecutors said Parnas, then an associate of former President Donald Trump's personal lawyer Rudy Giuliani, funneled over $150,000 from a Russian businessman into U.S. campaigns as part of an effort to land licenses in the U.S.'s legal cannabis industry.

Supreme Court agrees to hear challenges to Texas abortion law

Photo: Saul Loeb/AFP via Getty Images

The Supreme Court on Friday agreed to hear two cases challenging Texas' abortion law, which bans the procedure as soon as six weeks into pregnancy, but left the law in place in the meantime.

Why it matters: The court is moving extraordinarily fast on the Texas cases, compressing into just a few days a process that normally takes months. And that schedule means the court will take up Texas' ban a month before it hears another major abortion case — a challenge to Mississippi's own 2018 ban on abortions after 15 weeks.

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