Nov 2, 2018

Big Oil, governments, banks to huddle on carbon capture tech

Illustration: Rebecca Zisser/Axios

Leading officials of the world’s biggest countries, fossil-fuel companies and finance banks are meeting later this month in Scotland for one of the largest-ever summits on technology capturing carbon dioxide emissions.

Why it matters: This technology is increasingly considered essential to address climate change given how carbon-intensive the world’s energy and industrial systems are. But it remains too expensive in most instances. The gap between what’s needed and what exists today is staggering.

Details: The International Energy Agency is convening the event, with roughly 50 high-level officials across private and public sectors. Samantha McCullogh, who runs IEA’s work on this technology, said the addition of the finance sector is of particular note given it has been lacking in previous gatherings.

Some notable attendees, per a list of expected attendees by IEA:

  • Ben van Beurden, CEO of Royal Dutch SHell
  • Bob Dudley, CEO of BP
  • Glenn Kellow, CEO of Peabody Energy, a coal producer
  • Steve Winberg, assistant secretary for fossil energy at U.S. Energy Department
  • Michal Kurtyka, vice-minister of environment, Poland
  • Jim Skea, a top scientist who worked on a just-released, seminal climate change report by the United Nations
  • Senior executives of the World Bank, Asia Development Bank and Barclays

“It really does take partnerships between governments and industry,” said McCullogh. She cited a proposal in Norway, whose government and industry officials will be at the meeting, as a good example. But there, the question of who will fund it looms large.

What’s next: Expect global focus on this technology to continue at the United Nations’ annual climate conference held just a few days after in early December. Coal-dependent Poland is hosting the conference, with Kurtyka as the president of the conference.

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 7 p.m. ET: 5,682,389 — Total deaths: 354,944 — Total recoveries — 2,337,385Map.
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Updated 18 mins ago - Politics & Policy

Top Senate Democrat says State Dept. is working on new Saudi arms deal

Secretary of State Mike Pompeo briefs reporters on May 20. Photo: Nicholas Kamm/pool/AFP via Getty Images

Senate Foreign Relations ranking member Bob Menendez (D-N.J.) wrote in a CNN op-ed on Wednesday that he learned that the State Department is currently working to sell thousands of additional precision-guided bombs to Saudi Arabia.

Why it matters: Democrats say that Steve Linick, the State Department inspector general who was ousted on Secretary of State Mike Pompeo's recommendation, was investigating the administration's previous effort to sell weapons to Saudi Arabia without congressional approval.

U.S. coronavirus death toll crosses 100,000

Data: Johns Hopkins University; Chart: Danielle Alberti/Axios

More than 100,000 Americans have died of the coronavirus, according to data from Johns Hopkins — a terrible milestone that puts the death toll far beyond some of the most tragic events in U.S. history.

By the numbers: The death toll from COVID-19 now stands at more than 34 times the number of people who died on 9/11.