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Rob talks to Peter Brannen, author of the new book The Story of CO2 Is the Story of Everything.

How did life first form on Earth? What does entropy have to do with the origins of mammalian life — or the creation of the modern economy? And what chemical process do people, insects, Volkswagens, and coal power plants all share?
On this week’s episode of Shift Key, Rob chats with Peter Brannen, the author of a new history of the planet, The Story of CO2 Is the Story of Everything. The book weaves together a single narrative from the Big Bang to the Permian explosion to the oil-devouring economy of today by means of a single common thread: CO2, the same molecule now threatening our continued flourishing.
Brannen is a contributing writer at The Atlantic and the author of The Ends of the World, a history of mass extinctions on Earth. He is an affiliate at the Institute of Arctic and Alpine Research at the University of Colorado, Boulder. Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University. Jesse is off this week.
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Here is an excerpt from our conversation:
Robinson Meyer: Why do we have a surplus of oxygen in the air in the first place? It was, for me, also something I did not understand at all before I read the book.
Peter Brannen: So there’s this common trope that two out of the next three breaths you have is from phytoplankton the ocean, or a quarter of it is from the Amazon alive today. And there’s a sense in which that’s true because oxygen and CO2 are being exchanged very quickly in the biosphere. But there is something like 800 times more oxygen in the air than can be produced by the entire biosphere. And all of the oxygen that’s produced by the rainforest, say — the rainforest is a living system where everything else is consuming that organic matter and feeding off of it. And it’s kind of a wash — just as much oxygen is created by the trees as is consumed by the bugs and fungi and jaguars and all the things that are living in the rainforest that are feeding off those plants and respiring that plant matter back to things like CO2 and water. So on a net scale it’s a wash.
So that gets you a planet with close to zero oxygen, and instead we have this absurd abundance of this thing that wants to react with everything. And the only way you can do that is if, say, you imagine a tree and when it dies, rather than being decomposed by fungi and beetles and on and on, that tree suddenly gets buried in sediment and falls into the crust and becomes part of the rock record, and the oxygen it made in life is not used in its own destruction. And by shielding that tree in the earth, you leave this surplus of oxygen in the air. And over all of Earth history, as a vanishingly small amount of this organic matter, things like plants and algae, do make it into the rock record, they leave an equivalent gift of oxygen in the air as a surplus.
We are more familiar with plant matter in the crust where it’s economically exploitable — we call those fossil fuels. So in a weird way, the fact that me and you can breathe — I don’t think a lot of people attribute that to the fact that there’s fossil fuels in the ground. Luckily most, you know, quote-unquote fossil fuels are very diffuse in mudstones, and they’re not economically exploitable. And we’re never going to run out of oxygen by burning fossil fuels because, you know, we worry about CO2 going up in parts per million and oxygens in whole percent. So, you know, it is true that for every molecule of CO2 we burn we’re bringing down oxygen by an equivalent amount, it’s just not that concerning.
But yeah, there is this astounding way of reframing, of looking at the world where the plant surface is breathable only because of what’s happened in the rocks beneath it.
Mentioned:
Peter’s book, The Story of CO2 Is the Story of Everything
This episode of Shift Key is sponsored by …
Hydrostor is building the future of energy with Advanced Compressed Air Energy Storage. Delivering clean, reliable power with 500-megawatt facilities sited on 100 acres, Hydrostor’s energy storage projects are transforming the grid and creating thousands of American jobs. Learn more at hydrostor.ca.
Music for Shift Key is by Adam Kromelow.
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The deal, shared exclusively with Heatmap, is the startup’s third in the oil-importing country.
Hydrogen fuel comes in myriad forms. There’s green hydrogen, which is extracted from water molecules using zero-carbon electricity. There’s blue hydrogen, derived from methane and scrubbed clean by carbon capture. And then there’s white hydrogen. Otherwise known as natural or geologic hydrogen, this type of hydrogen comes directly from naturally occurring deposits in the earth, can accumulate in considerable quantities and concentrations, and is highly energy-efficient to extract compared to manufacturing pathways such as electrolyzers and steam methane reforming.
It’s a seductive promise, but finding deposits with enough hydrogen to make the economics of exploration work is difficult. That’s where Koloma comes in. The startup uses a bespoke subsurface data set, which its founders developed over 20-plus years, to flag the areas most likely to hold sufficient hydrogen, after which they can extract it for power and derivative fuels.
On Thursday, the startup announced its latest exploration deal, its third in the Philippines, which will give it exclusive rights to a roughly 817-square-mile area in western Zambales Province on the island of Luzon. Altogether, the company now has rights to explore more than 1,600 square miles of the island.
The Philippines until recently imported 98% of its oil from the Middle East. Since the onset of the U.S. and Israel-led war in Iran and the subsequent closure of the Strait of Hormuz, the country’s responses have included declaring an energy emergency, imposing a four-day workweek, tripling solar panel imports from China, and even planning to dust off the Bataan Nuclear Power Plant, which has sat idle since 1986.
The country also sits between three active tectonic plates, which means it has a lot of young iron-rich rock formations exposed to water — exactly the conditions that continuously produce natural hydrogen.
“The Philippines is like the poster child of that,” Pete Johnson, Koloma’s CEO, told me. “The geology is very, very good.” Accordingly, the prospect of a plentiful, easy-to-tap domestic energy source has gotten Philippine policymakers excited. The government collects data on natural leaks of hydrogen from the ground to help companies like Koloma narrow their search.
In theory, once a viable deposit is discovered, extraction is straightforward. “If you drill a hole into that pressurized reservoir, the gas is going to flow by itself. It’s just like poking a hole in a balloon,” Johnson told me. Where electrolyzers need around 55 megawatt-hours of energy to produce a ton of hydrogen and gas-powered reformers need around 40 megawatt-hours, natural hydrogen extraction would take 3 megawatt-hours maximum, according to the CEO. And unlike some methods to artificially stimulate the formation of hydrogen deposits, which my colleague Katie Brigham wrote about last week, tapping into natural wells doesn’t require injecting high-pressure fluids, which keeps the structural integrity of the subsurface intact.
Koloma has no hard agreement with the Philippine government to earmark any of the hydrogen it may produce there for domestic consumption, Johnson told me. But given the difficulty of transporting the lightweight gas and the projected growth of the Philippine economy, he expects the country would be the overwhelming beneficiary of Koloma’s activities there.
Once it’s extracted, Koloma could sell the hydrogen as a primary resource (major population and industrial centers like Manila are close to exploration sites) or as a feedstock for products like ammonia and sustainable aviation fuel, which local manufacturers could then export. There may also be opportunities to sequester captured CO2, which easily bonds with the types of rock often found in natural hydrogen deposits and can in turn make the rock more reactive for hydrogen generation.
Hydrogen has figured heavily in the decarbonization and energy security plans of import-dependent East and Southeast Asian economies for a long time. As Katie explained earlier this year, it’s also a centerpiece of China’s latest five-year plan. Japan, meanwhile, has been a leader since the industry’s inception, rolling out the world’s first hydrogen strategy in 2017. The Philippines’ partnership with Koloma is a bet that there are enough hydrogen balloons under its land to put its energy plans on the same trajectory.
France’s deadliest heat wave since 2003 killed more than 2,700 people — and possibly as many as 5,700.
More than 5,700 excess deaths were recorded in France during this summer’s record-breaking heat wave, the country’s health agency announced today. That makes the event — which ran, by the official reckoning, from June 17 to July 2 — the country’s deadliest heat wave in more than 20 years.
That’s in line with other estimates we’ve heard. EuroMOMO, a network of European public health agencies that track excess mortality, found that the continent saw more than 10,000 excess deaths during the same period. Roughly 90% of those victims were older than 65, it said. (France’s cohort seems similar: Adults older than 75 made up about two-thirds of the victims, the government said.)
These numbers are staggering — and much larger than some astute Heatmap readers might anticipate. If you read my colleague Jeva Lange’s piece on why it’s so hard to estimate heat deaths last week, she cited a much smaller estimate: Roughly 2,700 died in France during the most recent heat wave. That tally came from Christopher Callahan, an Indiana University scientist who studies climate change’s economic and social costs.
Why is there such a gap between the figures? I emailed Callahan to find out. He shared a few thoughts. First, he uses a different (and theoretically more rigorous) method than the French government: “Our approach uses a statistical relationship between temperature and mortality to explicitly quantify how many additional deaths are associated with a given day’s temperature,” he wrote. “France’s report of excess deaths is just based on how many more people died in late June compared to previous Junes - but we don’t know if those people died because of the heat or some other factor.” (Carbon Brief recently published a Q&A on these varying approaches.)
That might mean his estimate is right, in which case France has misidentified roughly nearly 3,000 deaths. But it could also mean his model, which is trained on data from 2004 to 2019, is “missing something,” he said, like a post-Covid change to public health risk. Last year, Callahan and his colleagues used a similar model to estimate deaths from France’s worst-ever heatwave, a 2003 episode that overwhelmed morgues and killed about 16,000 people. Even 23 years ago, global warming helped make that disaster larger than it needed to be: Some 6,000 of those deaths were due to climate change, their paper found.
Either estimate of the 2026 heat wave, of course, is shattering. As Jeva wrote, even the lower figure would mean the 2026 heat wave killed as many people as died in three years of French homicides. But the divergence in estimates tells us something else too: Even as climate change breaks records and alters our world, we’re never going to quite agree on where it ends and normal randomness begins.
The AI data center boom does not seem close to ending. Google’s parent company, Alphabet, announced its second quarter results this evening, and it beat Wall Street’s expectations, nearly quadrupling its profit on a year-over-year basis. Among the drivers: Its cloud business grew 82% compared to the same quarter last year. (As I’ve written, that rapid growth is helping to turn Alphabet and other hyperscalers into light industrial firms.)
The company’s AI bets seem to be paying off so far — so Google is now planning on spending even more on data centers, energy infrastructure and AI development this year than it once anticipated. It raised its estimates of 2026 capital expenditure to $195 billion to $205 billion, which is above earlier projections and twice as much as it spent in the same category last year. 2027 could be even bigger, it signaled. The company’s shares fell slightly on the news in after-hours trading, but from an energy and climate wonk perspective, the message is clear: For now, the AI demand surge transforming the power sector — and the real economy — continues to chug along.