Jet fuel prices are rising to levels not seen since before the Covid pandemic and it’s set to drive up airfares, United Airlines CEO Scott Kirby said Wednesday. “Higher jet-fuel prices lead to higher ticket prices,” Kirby told CNBC’s “Squawk on the Street.” “Ultimately, we’ll pass that through.” United forecast average fuel costs of $2.39
Environment
The concept of “clean coal” is a scam, according to former Australian Prime Minister Malcolm Turnbull. Speaking with CNBC Tuesday as part of its Sustainable Future Forum, Turnbull said the idea of carbon capture and storage “simply doesn’t work” despite years of investments. “The proposition was that you would … effectively separate the CO2 from
WASHINGTON, D.C. — The U.S. Department of Energy (DOE) today awarded nearly $40 million to 40 projects that are advancing the next generation of solar, storage, and industrial technologies necessary for achieving the Biden–Harris administration’s climate goal of 100% clean electricity by 2035. Specifically, the projects will reduce the cost of solar technologies by increasing
As I sit at my desk in front of my computer, the sun is shining and my pool looks very inviting outside my office window, but I am driven to write. Australia gets a lot of bad press internationally about our love for fossil fuels and how we are dragging our feet on climate change
In this article ULVR-GB The former CEO of consumer goods giant Unilever has taken a swipe at firms who prioritize short-term goals over longer term ones rooted in sustainability. Paul Polman has castigated some companies who proclaim “they are the second coming” while simultaneously slowing efforts down. Speaking at CNBC’s Sustainable Future Forum on Monday,
Empty shelves that usually stock bottled water at Sainsbury’s supermarket, Greenwich Peninsular, on September 19, 2021 in London, England. Chris J Ratcliffe | Getty Images The U.K. has emerged from the Covid-19 pandemic to find itself faced with an onslaught of new economic crises that have left the country in “a precarious position,” experts have
Andrew Forrest, Mukesh Ambani, and Larry Fink walk into a bar — “looks like it’s coke zero all round,” says the bartender. The richest man in India (Ambani) has set a goal of net-zero emissions by 2035 for his company. Australia’s Andrew Forrest has pledged net-zero emissions in phases, mostly by 2030 (scope 1 &
Andrew Forrest’s Fortescue Future Industries has bought a majority stake in technology group HyET. Its “Powerfoil” solar technology is described as extremely lightweight (5% of the weight of traditional glass panels), and with a significantly lower levelized cost of energy. HyET is also invested in hydrogen electrolyser technology. “The electrically active layers consist of SnO2:F,
In this article VWS-DK The shadow of a turbine from a wind farm is seen on a field in Brandenburg, Germany. As technology develops, the size of wind turbines is increasing. Patrick Pleul | picture alliance | Getty Images Vestas has announced plans to install a prototype of its 15 megawatt offshore wind turbine at
A smokestack of the Wujing Coal-Electricity Power Station in Shanghai, China on September 28, 2021. Hector Retamal | AFP | Getty Images China may have to set aside its ambitious plans to cut carbon emissions — at least in the short term — in order to tide over its worsening power crisis, said analysts. “Like other markets
A Shell employee walks past the company’s new Quest Carbon Capture and Storage (CCS) facility in Fort Saskatchewan, Alberta, Canada, October 7, 2021. Todd Korol | Reuters As energy sector demand roars back and commodities market pundits talk about the return of $100 oil, there are new factors in the energy sector pushing producers to
Here’s the thing about renewables like wind and solar that many people don’t get. The “fuel” that makes them work is free. That is not to say the devices we construct to harvest energy from wind and solar don’t cost anything and don’t contribute some greenhouse gas emissions. But let’s not pretend that somehow all
In this article BTC.CM= ETH.CM= Russian President Vladimir Putin delivers a speech during the Russian Energy Week event on October 13, 2021 in Moscow, Russia. Mikhail Svetlov | Getty Images Russian President Vladimir Putin thinks cryptocurrencies have value — but he’s not convinced they can replace the U.S. dollar in settling oil trades. Some months
Courtesy of RMI.By Ryan Shea & Russell Mendell Through the Justice40 Initiative, President Biden has made clear that bringing clean energy benefits to marginalized and low-income communities is a priority. Right now, low-income households experience up to three times higher energy burden (the percent of household income spent on energy costs) than high-income households. Rooftop solar is one of
By Samantha Wilt, Senior Policy Analyst, Climate & Clean Energy Program The landmark Climate Leadership and Community Protection Act’s (CLCPA) ambitious goal to reduce greenhouse gas emissions 85% by 2050 will require a transformation of the power, transportation and building sectors. As highlighted in the New York State Energy Research and Development Authority’s (NYSERDA) recently released draft Carbon
The growing supply of environmental, social and governance-related exchange-traded funds won’t be enough to meaningfully mitigate broad issues such as climate change, Van Eck Associates’ CEO says. “ESG is good as a coherent investment approach on a fund-by-fund basis to make a difference and it’s good signaling, but to put it in perspective, it’s not
Oh the irony, it burns! Solar power is supposed to open the door on a new era in which humans and their ecosystems exist in harmony, but for now the record is still stuck on fossil energy. Oil, gas, and coal producers continue to dig up carbon from underground and disburse it about the surface,
A new cold front could open up in the political tension between the European Union and Russia over energy. This time in the Arctic. On Wednesday, the EU put forward proposals that could see it pushing to ban the tapping of new oil, coal and gas deposits in the Arctic in an effort, it said,
Amanda Kolker. Photo by Amy Griffin, NREL From Iceland to Alaska to France, NREL geoscientist Amanda Kolker has studied geothermal energy all around the world. After graduating with a bachelor’s degree in geology, Kolker went to study volcano and glacier interactions in Iceland but was quickly distracted by Iceland’s vast geothermal energy systems. As an earth scientist,
The Power Squeeze That Inspired Me Last month, I bought a house. I could have afforded something a lot nicer, but I didn’t feel like being in debt up to my eyeballs. So, I bought a doublewide manufactured home that needed some repairs that I could do. After the purchase and getting the basic things
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