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Microsoft
The Biden administration confirmed its plans to hold an oil and gas drilling lease sale in the Arctic National Wildlife Refuge starting on January 9. The amount of land up for auction – some 400,000 acres – is the minimum required by law. The move seems to have angered people on all sides, for many different reasons. Environmentalists will remember that Biden campaigned on a promise to stop drilling in the ANWR. “The Arctic Refuge deserves to remain a place of refuge, not an industrial oilfield lining the pockets of big oil executives,” Kristen Miller, executive director of Alaska Wilderness League, said in a statement. Some Indigenous groups, however, want even more land included in the sale to maximize local economic benefits.
Lithium-ion battery pack prices dropped 20% this year, the biggest decline since 2017, according to BloombergNEF’s annual battery price survey, out today. It cites “significant overcapacity” as the main reason for the price change. Manufacturers expanded production in anticipation of a surge in EV sales that has been slow to materialize, and are now trying to sell off stock. Battery EV pack prices dropped by 27% this year, dropping below $100 per kilowatt-hour for the first time ever. This price point is “an oft-cited rule of thumb for where EVs reach price parity with internal combustion engine vehicles (ICEs),” the report adds. This will be hastened by increased production of cheaper batteries outside of China.
BloombergNEF
And sticking with EVs for a moment, Rivian’s stock got a nice boost after Benchmark Securities gave it a “buy” rating and projected a “massive market opportunity.” “We believe Rivian’s capability to manufacture EV’s domestically with in-house designed software has been validated through its partnerships with Amazon and Volkswagen,” wrote analyst Mickey Legg. “VW’s industry relationships and experience will help [Rivian] negotiate with suppliers and provide engineering synergies.” Rivian shares were up 11% in pre-market trading.
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Scientists are urging the European Union to ban solar geoengineering methods such as injecting aerosols into the stratosphere, cloud brightening/altering, and space mirrors. “The benefits and risks of these solar radiation modification technologies are highly uncertain,” the European Commission’s chief scientific advisers wrote, warning these activities could “bring substantial negative ecological and economic effects.” Instead, the group suggested prioritizing reducing greenhouse gas emissions as the “main solution to avoid dangerous levels of climate change.” It also called for implementing new rules that govern this practice worldwide.
The EPA has officially banned the use of trichloroethylene (TCE) and perchloroethylene (Perc), two common solvents known to cause cancer and other health problems.
