Headline News:
- “Three Companies That Are Bigger Than The Entire Oil & Gas Industry” • The US oil and gas sector was once worth a combined $3 trillion; now there are three companies with higher valuations than the entire sector. It is worth note that all three – Amazon, Apple, and Microsoft – are tech giants with sizable clean energy investments. [OilPrice.com]
Where it started: Apple I, Smithsonian Museum (Ed Uthman, Wikimedia Commons)
By the way, one of these is currently offered at eBay with an asking price of $1,500,000.
- “Icebreaker Appeals Turbine Restrictions Decision” • The Lake Erie Energy Development Corporation appealed a ruling made by the Ohio Power Siting Board on the Icebreaker offshore wind farm on Lake Erie. LEEDCo said the ruling may be “fatal” for the 21-MW project. The company asked the OPSB for a rehearing to reconsider the decision. [reNEWS]
- “Global Demise Of Coal-Fired Generation Driven By Idle And Unprofitable Plants” • Baseload power just isn’t what it used to be. The demise of coal is now a global phenomenon that – rather like Covid-19 – is no respecter of borders or governments, with both China and the US grappling with the social and economic impacts of overcapacity. [pv magazine USA]
- “30% Of Shale Oil Companies Could Go Belly Up If Crude Stays This Cheap” • Muted crude prices, huge piles of debt and capital flight away from fossil fuels threaten a set of bankruptcies for US shale oil companies. About 30% of shale operators are technically insolvent at $35-a-barrel oil prices, according to a study released by Deloitte. [CNN]
- “The Surprising Way Renewables Can Help Farmers Cope” • It turns out that with solar panels, even the grass is greener during a drought. That’s the experience of one Australian grazier, who says condensation dripping off the panels arrayed across 55 hectares of his farm provided a moisture source that was the envy of neighbours. [The Sydney Morning Herald]
For more news, please visit geoharvey – Daily News about Energy and Climate Change.
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