BUSINESS
Green Policy: Biden deploys Pentagon to beat climate change and China
A large US Department of Defense grant to a startup developing North America’s largest deposit of graphite signals a major US foray into battery manufacturing. Graphite is the single biggest ingredient by weight in the batteries that go into EVs and the power grid, far ahead of lithium, but China dominates the processing capacity to produce battery-grade graphite
BUSINESS
Carbon Capture: Exxon is buying its way into the energy transition
Carbon capture is the centerpiece of Exxon’s climate-related efforts primarily because unlike renewable energy, which competes with oil and gas, capturing carbon complements Exxon’s core business and thereby may extend its lifespan. Its $4.9 billion acquisition of Denbury Inc is also useful for the Inflation Reduction Act’s carbon capture credits, which effectively provide Exxon with extremely patient venture capital
BUSINESS
Don't rule out Toyota doing a Tesla and upending EVs
The automaker claims it has made a breakthrough on one of the holy grails of electric vehicles: solid-state lithium ion batteries, which would mean a battery that can power a vehicle for 745 miles on a single charge, recharge in 10 minutes and is far less prone to overheating and fire. In other words, all the current hang-ups about EVs — range, refueling time, safety — disappear
WORLD
Bidenomics critique exposes energy tension in both parties
The White House’s policy isn’t the disaster the House speaker says it is, but its green ambitions will come at a cost, just as the Republicans’ push for independence would
BUSINESS
Tesla sales surge, but at what cost?
Markets will have to wait to learn what role price cuts played in the carmaker’s big second-quarter delivery numbers
BUSINESS
Russia’s mutiny underscores oil’s fragility
There is increasing peril to relying on a commodity with a disproportionate number of unstable producers when spending on alternatives is suppressed
BUSINESS
No rain in Panama means more pain in LNG
A drought caused by climate change is forcing the Panama Canal to constrain traffic, slowing existing transit from the Gulf Coast while creating new opportunities for Pacific port projects
BUSINESS
New York's congestion toll plan could learn from the London experience
Two decades ago, another big city, London, put a price on driving and called it the “congestion charge.” New York, where drivers could start paying a fee as soon as next Spring, could learn from that simple branding, and more besides. The critical thing is to improve public transit and prepare for the difficulties in sustaining the initial improvements in traffic reduction
BUSINESS
Tesla wanted an EV price war. Ford showed up
Tesla’s price cuts in the first quarter cut deep into its gross margin. And then Ford responded with price cuts on the Mach-E, which competes directly with Tesla’s two biggest models, the 3 and the Y
BUSINESS
Somewhat cheaper Teslas are here but at the cost of gross margins
Thus far, however, price cuts haven’t spurred a jump in sales and inventory has kept on building. Tesla's EV revolution is yet to produce a cheaper model for the masses that is none-the-less very profitable. Getting there will require Tesla delivering game-changing manufacturing efficiencies
BUSINESS
OPEC Supply Cuts: Oil price spike is like an earthquake for fragile world
If oil markets prove weaker than the bullish expectations for later this year, it could reinforce bearish tendencies. And if prices instead surge, then the dilemma around inflation, financial fragility and recession-facing central banks resurfaces
BUSINESS
Elon Musk's secret, secret master plan for Tesla is so obvious
Deliver on his 17-year-old promise of a mass-market car and sell more of today’s lineup
BUSINESS
America's EV ambitions need a graphite plan. Fast.
China dominates the processing and mining of what is an essential material in electric vehicle batteries. For energy security and cutting emissions, the US has to invest in domestic mining
BUSINESS
What fracking can tell us about the future of fusion
Energy breakthroughs usually come through refinements of existing technologies and processes, not a blinding flash of transformation
ENVIRONMENT
Where the Trillions Needed to Go Green Will Come From
Clean technologies usually require a bigger upfront investment but enjoy savings from lower running costs, such as free sunshine and wind, down the line (I’m leaving out the “savings” of mitigating climate change, which are substantial).
BUSINESS
The tricky politics of anti-ESG investing
A new asset-management company backed by Peter Thiel claims to be pushing back against an ‘ideological cartel’. That’s a leap
