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Expand chart
Reproduced from Wood Mackenzie; Chart: Axios Visuals

A Wood Mackenzie analyst note shows that the gap in global investment between offshore wind and offshore oil-and-gas is expected to narrow as the 2020s progress.

The intrigue: The brief report explores why investors should be interested in a sector in which projects typically offer lower returns than oil-and-gas projects.

  • "[A]ny investment in the oil and gas sector is now subject to 'energy transition risk,' which encompasses falling demand for oil, the potential cost of the carbon intensity of assets, and more," the note states.
  • "There’s also a real possibility that both upstream project returns and renewables project returns will evolve, taking into account changing cost of capital, government subsidies and technology development."

Go deeper: Why U.S. offshore wind is finally going big

Go deeper

House passes George Floyd Justice in Policing Act

Photo: Stephen Maturen via Getty Images

The House voted 220-212 on Wednesday evening to pass a policing bill named for George Floyd, the Black man whose death in Minneapolis last year led to nationwide protests against police brutality and racial injustice.

Why it matters: The legislation overhauls qualified immunity for police officers, bans chokeholds at the federal level, prohibits no-knock warrants in federal drug cases and outlaws racial profiling.

43 mins ago - Politics & Policy

Senate Republicans plan to exact pain before COVID relief vote

Sen. Ron Johnson. Photo: Stefani Reynolds/Bloomberg via Getty Images

Republicans are demanding a full, 600-page bill reading — and painful, multi-hour "vote-a-rama" — as Democrats forge ahead with their plan to pass President Biden's $1.9 trillion COVID-19 relief package.

Why it matters: The procedural war is aimed at forcing Democrats to defend several parts the GOP considers unnecessary and partisan. While the process won't substantially impact the final version of the mammoth bill, it'll provide plenty of ammunition for future campaign messaging.

The new grifters: outrage profiteers

Illustration: Sarah Grillo/Axios

As Republicans lost the Senate and narrowly missed retaking the House, millions of dollars in grassroots donations were diverted to a handful of 2020 congressional campaigns challenging high-profile Democrats that, realistically, were never going to succeed.

Why it matters: Call it the outrage-industrial complex. Slick fundraising consultants market candidates contesting some of their party’s most reviled opponents. Well-meaning donors pour money into dead-end campaigns instead of competitive contests. The only winner is the consultants.

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