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Energyclimate Change

All articles tagged with #energyclimate change

energyclimate-change2 years ago•2 min saved

IEA Urges Oil and Gas Industry to Rethink Carbon Capture as Climate Solution

The International Energy Agency (IEA) has urged the oil and gas industry to abandon the belief that carbon capture technology is a viable solution to climate change and instead invest more in clean energy. The IEA's Executive Director, Fatih Birol, stated that the industry must face the reality that a successful transition to clean energy requires scaling back oil and gas operations, not expanding them. The IEA report highlights that just 1% of global clean energy investment has come from oil and gas companies, and to limit climate change to 1.5 degrees Celsius, the industry would need to invest 50% of capital expenditures in clean energy projects by 2030. Excessive reliance on carbon capture is seen as a major pitfall in the energy transition, as it would require an inconceivable amount of carbon capture and significant investment.

via CNBC|

#carbon-capture #clean-energy #climate-change

energyclimate-change2 years ago•3 min saved

"Biden's Federal Funding Boosts American-Made Heat Pump Production and Clean Energy Initiatives"

President Joe Biden will utilize emergency wartime powers under the Defense Production Act (DPA) to allocate $169 million in federal funds to nine manufacturing projects aimed at boosting US production of heat pumps. Heat pumps are more energy-efficient than traditional heating methods and can both heat and cool homes and businesses by transferring heat from one area to another. The move is part of Biden's efforts to promote clean energy technology and reduce greenhouse gas emissions. The funding has drawn criticism from the American Gas Association, a lobbying group for the natural gas industry, while the Biden administration sees it as a step towards creating jobs and strengthening energy security.

via Daily Mail|

#clean-energy #defense-production-act #energyclimate-change

energyclimate-change2 years ago•3 min saved

Rising U.S. Oil Production Challenges Climate Change Goals

U.S. oil production reached a record high of 13.2 million barrels per day, contradicting efforts to reduce carbon emissions and combat climate change. This surge in production conflicts with global calls to phase down fossil fuels and poses a threat to achieving emission reduction targets. Other countries, including Norway, Australia, the UK, and Canada, are also increasing fossil fuel production, undermining global efforts. While the Biden administration has committed to transitioning to renewable energy sources, increased domestic oil production is seen as a bridge to facilitate the transition. However, experts warn that this approach may lead to catastrophic consequences and hinder emission reduction efforts.

via PBS NewsHour|

#biden-administration #carbon-emissions #climate-change

energyclimate-change2 years ago•12 min saved

"Climate Law Sparks Energy Projects in GOP Districts, Prompting Backlash"

President Joe Biden's climate law, the Inflation Reduction Act, has led to a surge in clean energy spending across the United States, particularly in GOP-held districts. While some communities welcome the federal tax incentives aimed at accelerating renewable energy development and electric vehicle deployment, others view the law as a means of benefiting Chinese businesses and expanding their government's influence. The law's benefits are disproportionately benefiting conservative areas, potentially influencing voter perceptions of Biden as he seeks reelection. The law has sparked controversy in places like Michigan, where a battery manufacturing facility has faced opposition due to concerns over Chinese ties, and in Oklahoma, where a solar cell and panel manufacturing facility has drawn mixed reactions. In New York, the law is offering hope for an industrial reboot in the Hudson Valley, with a Canadian company planning to make batteries for electric vehicles and electric grids.

via POLITICO|

#clean-energy #climate-law #economic-revitalization