DOUBTS ABOUT DAC - The Department of Energy earlier this month announced that they would be launching direct air capture hubs in parts of Texas and Louisiana – with the Texas project teaming with a carbon removal company, 1PointFive, that’s also a subsidiary of fossil fuels corporation Occidental Petroleum. And a lot of green groups aren’t happy about the announcement.
“Most of what the Biden administration and the Department of Energy has done is a contradiction of the climate plan that needs to be done,” said Justin Solet, an organizing fellow of nonprofit group Healthy Gulf. Still, a number of green groups expressed skepticism of the DAC technology at large, asserting the administration is banking on technology that’s unproven and expensive to fulfill the country’s climate goals.
“Success in these first-of-a-kind commercial scale deployments is going to help build the momentum that we think we need to scale carbon removal to the degree that the scientific community is telling us we need,” said Sasha Stashwick, director of technology policy at Carbon180. “It’ll help build more durable political coalitions … and it’ll help us also get more policy support for this sector.”
BLACKROCK DISTANCES FROM ESG: BlackRock is backing away from supporting shareholder proposals that embrace environmental and social themes, an indication that the GOP pressure campaign against ESG, or environmental, social, and governance regulations, might be making headway, our Zachary Halaschak reports.
At 433.5 million barrels, the country’s crude oil inventories are at about 2% below the five year average for this time of year. More on that here. NEW OFFSHORE WIND: The Interior Department announced yesterday that it had approved the construction of a new offshore wind facility near Rhode Island, making it the fourth major commercial-scale project the administration has greenlighted as it looks to deliver on its goal of adding 30 GW of offshore wind power by 2030, Breanne reports.
According to the Electric Reliability Council of Texas, or ERCOT, which oversees the grid for roughly 90% of Texas, demand is projected to reach 86,120 megawatts on Tuesday.
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