MenuWith Joe Biden’s presidential election victory last week, climate change is set to be a top priority for the incoming administration, second only to the Covid-19 recovery. As discussed in my recent article, the president-elect has laid out an ambitious roadmap for decarbonizing the US economy, which includes a carbon-free power sector by 2035 and net-zero carbon
Category Archives: Energy Security
Federal Reserve Warns Of Climate Risks, In Historic First
Days after Joe Biden’s contentious presidential win, the U.S. Federal Reserve – known as one of America’s most conservative institutions – acknowledged for the first time the financial risks of climate change in its biannual financial stability report. In comments attached to the publication, Fed Governor Lael Brainard said the following: “Acute hazards, such as storms, floods,
Biden’s Energy Policy Outlook
The historic win of the Presidency by Joe Biden will massively change U.S. policies, foreign and domestic. It is too early to project the scope of that transformation. Without a doubt, Biden’s energy policy will differ from that of his predecessor. Continued
The Future Of Small Modular Reactors: Department Of Energy Awards $1.35 Billion To NuScale Power For SMR Development
The U.S. Department of Energy just awarded $1.35 billion to the Carbon Free Power Project (CFPP) for the development of an experimental small modular reactor (SMR) plant. The CFPP – a subsidiary of the Utah Associated Municipal Power Systems (UAMPS) – will work with private partner NuScale Power, LLC to construct this plant at the Idaho National Laboratory, beginning in 2025.
Plugging Into The Future: The Electric Vehicle Market Outlook
At Thursday’s presidential debate, former Vice President Joe Biden pledged to transition the U.S. economy “away from the oil industry.” This goal cannot be achieved without the electrification of road transport, which accounted for almost 70% of America’s oil consumption in 2019. Market forces and green government policies are accelerating this shift in the United
The Green Hydrogen Revolution Is Now Underway
While renewables are now the fastest growing energy industry, hydrogen is following closely behind in a massive gale. The 21st century will likely witness the rise of a mega-billion hydrogen fuel industry. Countries are taking first steps – and it’s breathtaking. Continued
Chevron Dethrones Exxon As America’s Most Valuable Oil Company
The U.S. oil sector witnessed a historic day yesterday, as ExxonMobil fell behind its breakaway sister Chevron in market capitalization with $141.6 billion versus $142 billion at NYSE closing, making it America’s most valuable oil company. This is the first time since the breakup of Rockefeller’s Standard Oil in 1911 that Chevron surpassed Exxon in market cap.
Libya Set For Strong Comeback To Global Oil Markets
Libya could soon return to the world oil market in a big way, if the agreement between the UN-recognized Government of National Accord (GNA) in Tripoli and General Khalifa Haftar’s Libyan National Army (LNA) in the East of the country is maintained. Continued
Walmart Pledges Zero Emissions By 2040
Walmart, which generated $524 billion in revenue last year and employs some 2.2 million associates around the world – recently made headlines with an ambitious pledge to reach zero emissions by 2040. The multinational company also declared a commitment to restore at least 50 million acres of land and one million square miles of ocean by 2030. Along
Airbus Unveils Designs For Hydrogen-Powered Aircraft Which Could Be Flying By 2035
This week Airbus, the biggest name in aerospace after Boeing, revealed three concepts for the world’s first zero-emission commercial aircraft which could enter service by 2035. Rather than traditional jet fuel (kerosene — an oil distillate) all three ‘ZEROe’ designs rely on hydrogen (H2) as their primary fuel source alongside batteries to power hybrid engines. Continued