Despite Germany’s last-ditch attempt at realism, the European Union recently approved a 2035 ban on gas-powered cars, moving ahead with its “net zero” emissions agenda. In the U.S., the cost of achieving net-zero carbon emissions would be staggering – $50 trillion if the goal is reached by 2050 – as would the demand for raw materials, which in most cases would exceed current annual worldwide production.
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With the price of everything from gasoline to food soaring in America, nobody is surprised by inflated price tags these days. But even by Washington standards, an action taken earlier this month by the Environmental Protection Agency is creating sticker shock: a nearly fourfold increase in the government calculation of damages from carbon emissions.
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A program at Yale University will “charge” its own buildings for carbon outputs and then use that money to reduce emissions throughout campus.
The “Carbon Charge” program previously gave funds back to buildings with the lowest energy output by essentially taxing other places on campus for carbon output.
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The Biden administration proposed a rule Thursday that would force all large federal contractors to disclose their greenhouse emissions and “climate-related” financial risks.
President Joe Biden’s plan would require major contractors to publicly disclose the number of carbon emissions they produce and publish their “climate-related” financial risks, according to a White House fact sheet. The rule would also force contractors to set “science-based” emissions reduction targets that were stipulated by the 2015 Paris Climate Agreement.
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A plan to phase the Connecticut’s electric grid to zero-carbon status by 2024 is the focus of a bill that now awaits Gov. Ned Lamont’s signature.
The governor announced Senate Bill 10 focuses on a reduction on carbon emissions, which was established through an executive order in 2019, that allows state policymakers and companies in the electric sector to fully transition the grid away from natural gas and oil.
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In a podcast discussion with Motor Transport Association of Connecticut President Joe Sculley on Friday, Volvo Group North America spokesperson Dawn Fenton objected to the Constitution State following California’s carbon-emission regulations for trucks.
California is the only state possessing a waiver allowing it to establish its own emission controls which are stronger than those required by the federal Clean Air Act. Environmental progressives have backed the waiver, which former President Donald Trump rescinded and which President Joe Biden reactivated last month.
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ExxonMobil, the largest American producer of crude oil, outlined its plan Tuesday to achieve net zero carbon emissions by 2050, improving upon previous goals.
The major oil producer identified more than 150 “potential steps” that will help it achieve net zero emissions on its operations within 30 years, the company announced. ExxonMobil will increase investments in carbon capture and storage technology, hydrogen and biofuels, and bio-based plastic waste streams.
“ExxonMobil is committed to playing a leading role in the energy transition, and Advancing Climate Solutions articulates our deliberate approach to helping society reach a lower-emissions future,” ExxonMobil Chairman and CEO Darren Woods said in a statement.
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Over the last decade, the United States Department of Energy (DOE) spent $1.1 billion on various projects that attempted to reduce carbon emissions through the practice of carbon capture and storage (CCS), only for the vast majority of these projects to either fail or be cancelled.
According to the Daily Caller, the waste of taxpayer money was revealed in a Government Accountability Office (GAO) report that was released in December. The report revealed that the DOE had invested $684 million in eight different CCS projects that focused on coal, only for seven of them to be cancelled, while only a single facility remained in operation. The remaining $438 million was spent on three industrial CCS facilities; of these three, two were successful while one was cancelled.
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