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JPMorgan Chase Targets More Than $2.5 Trillion over 10 Years to Advance Climate Action and Sustainable Development

 0-year target to include $1 trillion for green initiatives, such as renewable energy and clean technologies. JPMorgan Chase aims to finance and facilitate more than $2.5 trillion over 10 years – beginning this year through the end of 2030 - to advance long-term solutions that address climate change and contribute to sustainable development. The firm will bring together its capital and expertise to help clients, customers and communities address these vital issues.This long-term target complements the firm’s Paris-aligned financing strategy and will help accelerate the transition to a low-carbon economy by encouraging actions that set a path for achieving net-zero emissions by 2050. The firm will share an update and additional information on its Paris-aligned strategy with the release of...

Published on 1/11/2023 (21 days ago) Climate Change

 

Tesla offers rare year-end discounts on 2 top-selling models

DETROIT -- Tesla Inc. is offering rare discounts through year's end on its two top-selling models, an indication that demand is slowing for its electric vehicles.The Austin, Texas, company started offering a $3,750 incentive on its Model 3 sedan and Model Y SUV on its website earlier this month, but on Wednesday doubled the discount to $7,500 for those who take delivery between now and Dec. 31.The move comes ahead of a new federal tax credit of up to $7,500 that's scheduled to take effect Jan. 1. Teslas weren't eligible for a previous federal tax credit program because the company had reached a limit of 200,000 vehicles sold. Next year's credits don't have such a limit.“This is a sign of demand cracks and not a good sign for Tesla heading into the December year-end,” Wedbush analyst Dan...

Published on 1/11/2023 (21 days ago) Solar, Wind & EV's

 

US probing automated driving system use in 2 Tesla crashes

The U.S. government's highway safety agency said Thursday it will send teams to investigate two November crashes in California and Ohio involving Teslas that may have been operating on automated driving systems.The probes bring to 35 the number of crashes investigated by the National Highway Traffic Safety Administration since 2016 in which either Tesla's "Full Self-Driving" or "Autopilot" systems likely were in use. Nineteen people were killed in the crashes.The California crash occurred on Thanksgiving Day involving eight vehicles on the San Francisco-Oakland Bay Bridge. The driver told authorities that the Tesla Model S was using the company's "Full Self-Driving" software, according to Highway Patrol report obtained by CNN.The Ohio crash happened Nov. 18 near Toledo, when a Tesla Model...

Published on 1/11/2023 (21 days ago) Solar, Wind & EV's

 

10 Top Natural Gas Producers by Country

Natural gas is an essential energy fuel for the global economy. Which countries are leaders in natural gas production?Natural gas is an important energy fuel, even as the world transitions to a carbon-free economy. When investing in this market, it's key to know the ins and outs of natural gas production by country.Global natural gas production increased by nearly 5 percent to reach a record 4.04 trillion cubic meters in 2021, according to data from Statista. Russia currently ranks as the world’s second largest natural gas producer and is the leading exporter of the fuel.Last year, Russia’s natural gas exports came in at 202 billion cubic meters of gas via pipelines, and 39.6 billion cubic meters of liquified natural gas (LNG). But the war in Ukraine may change that — Russia has...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

Rule Delay Makes Big EV Tax Credit Possible Early Next Year

People who want to buy an electric vehicle could get a bigger-than-expected tax credit come Jan. 1 because of a delay by the Treasury Department in drawing up rules for the tax breaks.WASHINGTON (AP) — People who want to buy an electric vehicle could get a bigger-than-expected tax credit come Jan. 1 because of a delay by the Treasury Department in drawing up rules for the tax breaks.The department said late Monday it won't finish the rules that govern where battery minerals and parts have to be sourced until sometime in March.As a result, it appears that buyers of EVs assembled in North America with batteries made in the U.S., Canada or Mexico will be eligible for a full $7,500 tax credit under the Inflation Reduction Act. The act calls for the batteries' minerals and parts to also come...

Published on 1/11/2023 (21 days ago) Solar, Wind & EV's

 

EPA Announces Plans To Try To Reduce Nitrogen Oxide Emissions

On March 11, the U.S. Environmental Protection Agency (EPA) proposed a “Good Neighbor” Plan that would expand Ozone nitrogen oxide (NOx) controls to industrial sources by 2026. The plan seeks to require NOx controls based predominately upon EPA’s Reasonable Available Control Technology (RACT) program for industrial sources in the covered states.It will do this by establishing an allowance-based ozone season trading program with NOx emissions budgets for fossil fuel-fired power plants in 25 states. The rule would also establish NOx emissions limitations for certain other industrial stationary sources in 23 states.EPA will hold a public hearing on the proposal and will post details on this page as soon as they are available. The public comment period for the proposal is open for 60 days...

Published on 1/11/2023 (21 days ago) Climate Change

 

EPA to tighten nitrogen oxide limits for new heavy trucks

In a little over four years, new heavy truck makers will have to cut harmful nitrogen oxide pollution more than 80% under standards released Tuesday by the U.S. Environmental Protection Agency.DETROIT -- In a little over four years, new heavy truck makers will have to cut harmful nitrogen oxide pollution more than 80% under new standards released Tuesday by the U.S. Environmental Protection Agency.Some environmental and health advocates praised the standards but others said they don’t go far enough to curb nitrogen oxide, which can cause issues including respiratory illness, cardiovascular problems and even death.Problems are more acute in industrial and port areas, causing health problems for low-income residents who live there. The EPA says 72 million people live near freight routes in...

Published on 1/11/2023 (21 days ago) Climate Change

 

Big Oil Stages a Big Comeback as Exxon's Valuation Passes Tesla

(Bloomberg) — The largest US oil company, Exxon Mobil Corp., has surpassed electric-vehicle giant Tesla Inc. in market value for the first time since 2020 as investors sell high-growth stocks and buy up value stocks in the energy sector.Exxon shares have soared 75% year-to-date, putting the energy giant on pace for its best ever annual performance, while Tesla’s stock has plummeted roughly 60% over the same period, for its worst annual slump ever.Broadly, the change in fortunes illustrates how in the face of growing economic and geopolitical uncertainty, investors flocked to businesses with strong cash flow this year, ditching riskier assets whose valuations are pinned to future growth prospects.  Tesla’s own troubles have contributed heavily to the decline as well. Chief Executive Officer...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

UPDATE 2-U.S. allows Sempra to re-export LNG from Mexico

WASHINGTON, Dec 20 (Reuters) - The U.S. Energy Department on Tuesday approved permits for Sempra Energy to send U.S. natural gas to Mexico for re-export from LNG terminals, which a source said led a Republican senator to lift holds on four Biden administration nominees.The permits allow Sempra to ship natural gas via pipeline to western Mexico in coming years where it will be converted to liquefied natural gas at the company's terminals and sent to consumers in Asia and other markets.The LNG will be exported from Sempra terminals Energy Costa Azul - which is being built in two phases, the first of which is expected to be completed in mid-2025 - and Vista Pacifico, which has not yet begun construction.The department allows Sempra to export an LNG equivalent of 475 billion cubic feet per...

Published on 1/11/2023 (21 days ago) Oil/Gas

 

U.S. Postal Service to transform delivery fleet with 66,000 electric vehicles by 2028

The U.S. Postal Service said Tuesday that it intends to purchase at least 66,000 electric delivery vehicles as part of a push to transform its delivery fleet.The electric vehicles would amount to more than half the 106,000 vehicles it plans to acquire for delivery between now and 2028. The new vehicles will start to replace its aging fleet of 220,000 vehicles, the Postal Service said in a press release.The Postal Service has faced public pressure from environmental campaigns to electrify its fleet.In April, environmental groups filed a lawsuit against the USPS for its failure to conduct an adequate environmental analysis before deciding to replace its vehicle fleet with more “fuel-guzzling combustion mail trucks,” according to a press release from the Sierra Club.“Instead of receiving...

Published on 1/11/2023 (21 days ago) Solar, Wind & EV's

 

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