Is Climate-Related Financial Regulation Coming Under Biden? Wall Street Is Betting on It
The White House may not be preparing to transition to a Biden administration, but Wall Street is. While Trump and other Republican leaders continue to dispute the election results, the financial sector is moving ahead with plans to begin the transition to a carbon-free economy and acknowledge an administration eager to tackle the climate crisis.
Trump Administration Moves to Loosen Safety Rules for Arctic Ocean Oil Drilling
The Trump administration on Thursday proposed to loosen Obama-era safety regulations for the oil industry in the Arctic Ocean off Alaska, to ease the way for petroleum extraction in the region, an effort that President-elect Joe Biden will likely throw out once in office. The Obama-era rules were made to improve safety after a Shell drilling rig ran aground in the Gulf of Alaska in 2012.
Climate Activists Want Biden To Bar Appointees With Fossil Fuel Ties
Climate activists have set a high bar for President-elect Joe Biden's staff picks, asking that he exclude anyone with ties to fossil fuel industries, NPR reports. Biden faced backlash this week after naming Louisiana Rep. Cedric Richmond to lead the Office of Public Engagement. Disappointed activists called the move "a betrayal," pointing out Richmond's financial ties to the fossil fuel industry.
Arctic Oil Fight Comes to Insurers as Trump Plans Lease Sale
A group of investment firms, conservationists and indigenous groups have called on some of the world's biggest insurers to stop supporting oil and gas projects in the U.S. Arctic National Wildlife Refuge, even as the Trump administration advances plans to auction drilling rights in the Alaska wilderness. A similar pressure campaign led to most major U.S. banks pledging not to fund Arctic oil drilling.
A China-Led Shift to Electric Vehicles Will Help Bring an End to the 'Oil Era,' Study Says
An aggressive, China-led shift to electric vehicles is expected to slash global oil demand growth by 70 percent by 2030 and will help bring an end to the "oil era," according to new research by the think tank Carbon Tracker. Within 10 years, China could save more than $80 billion in annual oil import costs as electric vehicles become increasingly competitive, the report said.
Climate Change Is Making Winter Ice More Dangerous
Global warming is increasing the risks that come with winter traditions like skating, ice fishing and snowmobiling, new research found. Winter drowning deaths are increasing exponentially in areas with warmer winters, the study warns, with children, teenagers and adults under the age of 40 most vulnerable.
(The New York Times)