Hello readers! Today's Smart Brevity count: 1,176 words, < 5 minutes.
And this year marks a quarter-century since a A Tribe Called Quest released a brilliant track that will bring us into the news...
Two things caught my eye that underscore a sobering fact: The effects of climate change can create new hurdles to ... the fight against climate change.
Driving the news, part 1: New International Energy Agency reports on southeast Asia have eye-popping numbers on the rise of air conditioning use. (See chart above, which reflects IEA’s “stated policies” scenario that assumes existing policies and plans, as well as evolution of “known technologies.”)
Driving the news, part 2: Climate change, and the hotter and drier conditions it brings, is among the slew of forces that are increasing the risks of devastating fires in California and elsewhere.
Quick take: Those are just two instances of a wider challenge.
Illustration: Sarah Grillo/Axios
Fuel cell maker Bloom Energy went public in July 2018, six years after a scandal in which its bankers were found to have misled prospective investors. But Bloom itself has a history of playing fast and loose with its numbers, Axios' Dan Primack reports.
Why it matters: Bloom was among Silicon Valley's earliest unicorns, with a high-powered board of directors that includes Colin Powell and John Doerr.
The big picture: While still privately held, Bloom disseminated unreliable data and rose-colored projections, documents show.
Catch up fast: Key parts of Dan's story explore claims that Bloom made in 2009 in the presence of its bankers. For instance, some were about the chambers, called "hot boxes," that house its fuel cells.
That's important because this meeting was attended by Dwight Badger and Keith Daubenspeck, co-founders of Advanced Equities, the now-defunct investment bank that Bloom had hired to raise money.
Royal Dutch Shell reported a net third-quarter profit of $4.77 billion on Thursday, a 15% slide from the same period last year that nonetheless exceeded analysts' expectations.
Why it matters: It's the latest — and expected — sign of how lower oil prices are weighing on the industry as profit reports roll in. U.S.-based global giants ExxonMobil and Chevron report tomorrow.
Where it stands: Shell cited lower oil, natural gas and LNG prices, as well as weaker margins in refining and trading, as reasons for the drop.
The intrigue: The results offer another sign of the weakening global economy.
Go deeper: Shell beats profit estimates, warns of slower share buyback (Bloomberg)
Exxon trial: Per AP, "As Exxon faced the prospect of new climate regulations, the energy giant set out to understand — not understate — how they would affect the bottom line, former CEO and ex-Secretary of State Rex Tillerson told a court Wednesday."
Pipeline: "Denmark gave permission on Wednesday for a natural gas pipeline from Russia to Germany to pass through waters in its exclusive economic zone, meaning that the project, Nord Stream 2, can be completed despite sharp criticism from the United States, Ukraine and Poland," the New York Times reports.
Climate talks: Chilean President Sebastián Piñera said Wednesday that his county will not host the next round of UN climate talks in December as planned due to civil unrest in the country.
Rep. Kathy Castor, chairwoman of the House Select Committee on the Climate Crisis, spoke on a recent episode of the Columbia Energy Exchange podcast.
Why it matters: The panel is tasked with coming up with policy recommendations by the end of March 2020 to guide House legislation.
A few takeaways...
1. They're far from decided on some very big things. The overall goal is bringing U.S. emissions to net-zero by 2050. But from there, details remain scarce.
2. But she's mindful that time will be of the essence when it's actually time for the House to legislate.
3. Castor didn't sound optimistic about a sea change among Republicans. “What’s interesting here is while the dialogue has changed a little among my GOP colleagues, most now will admit that the climate is changing, they are still not voting that way,” she said.