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Power lines in California in 2019. Photo: Jane Tyska/MediaNews Group/The Mercury News via Getty Images

U.S. greenhouse gas emissions fell by 2.1% in 2019 due to a decrease in national coal consumption, according to estimates from the Rhodium Group released Tuesday.

Why it matters: Power generated from coal plants fell by a record 18%, and overall emissions from the power section declined by almost 10% — despite an increase in emissions from natural gas.

  • Coal saw record declines around the world last year.
  • The fuel's dramatic decline in the U.S. has been fueled by several factors: cheaper natural gas and renewable electricity, tougher environmental regulations in the Obama administration and the global shift to cleaner sources of energy in the face of climate change.

Yes, but: The Rhodium Group writes that there is little else to celebrate because other economic sectors made "far less progress." Transportation emissions stagnated, while emissions from buildings and industry rose.

The big picture: The U.S. ended 2019 at roughly 12% below its 2005 net greenhouse gas emissions levels.

  • The country is at risk of missing its target of a 17% reduction in greenhouse gas emissions by the end of 2020, as required by the Copenhagen Accord.
  • The U.S. is also well off from meeting the reduction standard of the 2015 Paris agreement, which it no longer recognizes.

Go deeper:

Go deeper

Biden taps Brian Deese to lead National Economic Council

Brian Deese (L) in 2015 with special envoy for climate change Todd Stern (C) and Secretary of State John Kerry (R). Photo: Mandel Ngan/AFP via Getty Images

President-elect Joe Biden announced Thursday that he has selected Brian Deese, a former Obama climate aide and head of sustainable investing at BlackRock, to serve as director of the National Economic Council.

Why it matters: The influential position does not require Senate confirmation, but Deese's time working for BlackRock, the world's largest asset manager and an investor in fossil fuels, has made him a target of criticism from progressives.

Felix Salmon, author of Capital
29 mins ago - Economy & Business

The places regulation does not reach

Illustration: Aïda Amer/Axios

Financial regulation is not exactly simple anywhere in the world. But one country stands out for the sheer amount of complexity and confusion in its regulatory regime — the U.S.

Why it matters: Important companies fall through the cracks, largely unregulated, while others contend with a vast array of regulatory bodies, none of which are remotely predictable.

1 hour ago - Economy & Business

Boeing gets huge 737 Max order from Ryanair, boosting hope for quick rebound

Ryanair low cost airline Boeing 737-800 aircraft as seen over the runway. Photo by Nik Oiko/SOPA Images/LightRocket via Getty Images

Dublin-based Ryanair said it would add 75 more planes to an existing order for Boeing's 737 Max airplanes, a giant vote of confidence as Boeing seeks to revive sales of its best-selling plane after a 20-month safety ban following two fatal crashes.

The big picture: Ryanair's big order, on the heels of breakthrough vaccine news, is also a promising sign that the devastated airline industry might recover from the global pandemic sooner than expected.