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Economy

What to Expect From Tesla’s Earnings Report
Electric Vehicles

AM Briefing: Tesla’s Big Test

On low expectations, global EV demand, and heat domes

Economy

AM Briefing: Fixing the Grid

On the “Transmission Interconnection Roadmap,” solar tariffs, and AI

Yellow
Politics

We Can’t Drill These Holes Fast Enough

The U.S. just made permitting easier for geothermal, but industry and lawmakers say we should be going farther.

Green
Oil machinery.

Why Oil Traders Are Not Freaking Out Today

Iran’s attack didn’t change much for markets.

Yellow
Electric Vehicles

AM Briefing: Tesla Layoffs Loom

On Musk’s workforce cuts, Appliance Week, and flooding in Russia

Tesla Is Reportedly Making Big Layoffs This Week
Heatmap Illustration/Getty Images

Current conditions: Temperatures in Sapporo, Japan, surpassed 77 degrees Fahrenheit today, earlier than ever before • Gale-force winds are blasting Britain • The weather is looking greatfor the Boston Marathon.

THE TOP FIVE

1. Tesla reportedly lays off 10% of global workforce

Tesla has reportedly laid off “more than 10%” of its global workforce, according to Jameson Dow at Electrek. In an internal company-wide email, CEO Elon Musk said “this will enable us to be lean, innovative and hungry for the next growth phase cycle.” The exact headcount isn’t clear but Dow calculates a 10% cut would bring the number of workers newly out of a job to about 14,000. The news wasn’t unexpected – employees had been whispering about potential layoffs for a few weeks, and their angst was fueled by the announcement last Thursday that Cybertruck production shifts at Tesla’s Gigafactory in Texas would be shortened, starting today. Dow notes the layoffs will hurt morale, “which is a shame, because we do need Tesla to keep pushing things forward, and to keep attracting the best and brightest.”

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Solar panels.
<p>Heatmap Illustration/Getty Images</p>

Late last year, I wrote about an overlooked but potentially transformative program in the Inflation Reduction Act called the Climate Pollution Reduction Grants. Administered by the Environmental Protection Agency, it offered all 50 states, plus D.C. and Puerto Rico, an initial $3 million each for climate policy planning, spurring many states to develop emissions-cutting strategies for the first time. Later, cities and states will be able to apply for competitive grants from a $4.6 billion fund to implement elements of their plans.

States that accepted the planning money — i.e. all of them except Iowa, South Dakota, Florida, Wyoming, and Kentucky — agreed to submit an inventory of their greenhouse gas emissions and a list of actions they would prioritize to the EPA by March 1. All together, the plans ran to nearly 7,000 pages, which are now available on the EPA’s website for anyone to peruse. While I haven’t yet had a chance to read through them all myself, a new high-level analysis of the plans by the nonprofits Evergreen Collaborative, RMI, and Climate XChange shows where most states said they would focus their efforts.

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