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3 Oil Majors That Bet Big On Renewables

Green Car Congress

Further, according to Rystad Energy, Big Oil is expected to pump in $166B into new oil and gas ventures over the next five years, thus dwarfing the currently specified outlay of just $18B (less than 10% of capex) for solar and wind energy projects. NASDAQ:TSLA) a run for its money thanks to its 2016 acquisition of battery company Saft.

Oil 418
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IEA finds CO2 emissions flat for third straight year even as global economy grew in 2016

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Global energy-related carbon dioxide emissions were flat for a third straight year in 2016 even as the global economy grew, according to the International Energy Agency. In 2016, renewables supplied more than half the global electricity demand growth, with hydro accounting for half of that share.

Economy 199
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LLNL’s Energy Flow Diagrams Show That The US Isn’t Moving The Needle On Climate Action

CleanTechnica EVs

In 7 years of electrification and deployment of wind and solar, the US barely budged the needle, in fact declining slightly to more wasted energy in 2016 and 2017 before improving again in 2018 and onward.

Energy 138
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US and China jointly announce GHG reduction targets; US to cut net GHG 26-28% by 2025, China to peak CO2 by ~2030

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The Administration said the United States will submit its 2025 target to the Framework Convention on Climate Change as an “Intended Nationally Determined Contribution” no later than the first quarter of 2015. launching a new track on the interaction of energy and water (the energy/water ‘nexus’).

China 300
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DOE seeking input on H2@scale: hydrogen as centerpiece of future energy system; 50% reduction in energy GHGs by 2050

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Source: DOE workshop April 2016. A key goal of the H2@Scale concept is to enable hydrogen production at $1/kg through advancements in electrolyzer technologies, use of low-cost electricity from the grid during off-peak times, and high-volume manufacturing of electrolyzers enabled by the use of hydrogen in a wide range of sectors.

Hydrogen 150
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DOE releases five-year strategic plan, 2014-2018; supporting “all of the above” energy strategy

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Under that, the plan sketches out 3 strategic goals: Strategic Objective One: Advance the goals and objectives in the President’s Climate Action Plan by supporting prudent development, deployment, and efficient use of “all of the above” energy resources that also create new jobs and industries.

2014 225
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IRENA, IEA study concludes meeting 2?C scenario possible with net positive economics

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The Paris Agreement reflected an unprecedented international determination to act on climate. Reducing the impact on human health and mitigating climate change would save between two- and six- times more than the costs of decarbonization, according to IRENA’s calculations. Around US$3.5 trillion in 2015.

Renewable 199