Sign In or Create an Account.

By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy

Politics

Election Day Is Finally Here

On Trump vs. Harris, Spain’s rain, and a wooden satellite

Election Day Is Finally Here
Heatmap Illustration/Getty Images

Current conditions: Typhoon Yinxing is expected to bring heavy rain to the Philippines this week • India is considering cloud seeding to trigger artificial rain to combat dangerous air pollution • It will be 59 degrees Fahrenheit and cloudy in Washington, D.C., where security fences have been put in place ahead of potential Election Day unrest.

THE TOP FIVE

1. Americans head to polls in 2024 presidential election

Voters head to the polls today to decide whether Kamala Harris or Donald Trump will be the next president of the United States. As Heatmap’s Jeva Lange writes, Americans will either elect a leader who continues the build-out of renewable energy and prioritizes a healthy, clean environment, or a leader who embraces the fossil fuel industry. In some places, climate will be on the ballot directly. In South Dakota, for example, the debate over carbon capture and CO2 pipelines is being put in the hands of voters; in Berkeley, California, voters will decide if they want to incentivize the decarbonization of large buildings with a natural gas tax; and Washingtonians will have two different climate-related policies to defend, with repeal initiatives on the ballot thanks to a determined Republican millionaire.

Harris and Trump made their final pitches yesterday in separate Pennsylvania rallies. In Pittsburg, Trump made the odd confession that he’s a big fan of Green Party candidate Jill Stein. “I love the Green Party,” he said. “Jill Stein just may be one of my ... I've never met her but she may be one of my favorite politicians.” Third party candidates like Stein could influence the election outcome by siphoning votes from Trump or Harris. “The vote right now is so close that a small amount of tipping in one direction or another could swing it,” Bernard Tamas, a professor of political science at Valdosta State University, toldThe Guardian.

2. Valencia asks for $34 billion to fund flood recovery

The Spanish city of Barcelona was inundated with extreme rainfall yesterday, just days after devastating floods killed more than 200 people in Valencia. Rescue crews are still searching for survivors and angry residents are beginning to point fingers at authorities for not sounding the alarm about the floodwaters early enough. The Valencian government is asking for a €31.4 billion ($34.2 billion) rescue package to rebuild. The flooding was one of the worst natural disasters in Spain’s modern history, wrote the Financial Times editorial board. It’s “a particular reminder to politicians in Europe that climate preparedness is a pressing issue on the continent … not just in hotter areas closer to the equator.”

Pablo Blazquez Dominguez/Getty Images

3. Canada outlines plan to cap oil and gas emissions

Canada yesterday unveiled a proposal for capping greenhouse gas emissions from the high-polluting oil and gas sector. The plan would cap emissions at 35% below 2019 levels by 2030, with producers required to report emissions starting in 2026. Canada’s Natural Resources Minister Jonathan Wilkinson toldReuters that most of the emissions cuts would likely come from curbing methane, as well as from carbon capture projects. The oil and gas industry opposes the proposal. Canada is the fourth largest oil producer in the world.

4. The EV political gap may be narrowing

Recent data from automotive marketing research firm AutoPacific suggests political affiliation is becoming a smaller factor in Americans’ decision making process around whether to buy an electric vehicle. So far, most EV adopters lean Democratic. But as EVs become more common, AutoPacific’s survey suggests the political gap is shrinking. Among people who identify as “future EV acceptors” – those who say they’ll consider buying an EV in the future – 46% are Democrat, 28% are Republican, and 24% are independent or third party. That’s a narrower gap than exists among current EV owners (54% of whom are Democrats and 30% are Republicans). “When it comes to EV rejection, politics do play a small role, albeit a declining one,” said Deborah Grieb, AutoPacific’s director of marketing and consumer insights. “But rejection of EVs is much more likely to be due to charging and cost concerns.”

5. Wooden satellite launches into space

The world’s first wooden satellite was launched into space today. Japanese scientists created the satellite – called LingoSat – to prove that wood can be a space-grade material, and a sustainable one at that. Existing satellites are made mostly out of aluminum. When they reach the end of their lives, they burn up in the atmosphere, leaving behind particles that can damage the Earth’s protective ozone layer. Wooden satellites, though, wouldn’t do this. And wood could be surprisingly suitable for space flight: Without exposure to oxygen, wood isn’t vulnerable to things like rot or fire. The LingoSat will be monitored throughout its time in orbit for signs of strain and to help researchers better understand how wooden satellites might perform in space.

THE KICKER

Meta CEO Mark Zuckerberg’s plans to build a nuclear-powered AI data center have reportedly been canceled after a rare bee species was discovered near the proposed build site.

Yellow

You’re out of free articles.

Subscribe today to experience Heatmap’s expert analysis 
of climate change, clean energy, and sustainability.
To continue reading
Create a free account or sign in to unlock more free articles.
or
Please enter an email address
By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy
Sparks

Why Your Car Insurance Bill Is Making Renewables More Expensive

Core inflation is up, meaning that interest rates are unlikely to go down anytime soon.

Wind turbines being built.
Heatmap Illustration/Getty Images

The Fed on Wednesday issued a report showing substantial increases in the price of eggs, used cars, and auto insurance — data that could spell bad news for the renewables economy.

Though some of those factors had already been widely reported on, the overall rise in prices exceeded analysts’ expectations. With overall inflation still elevated — reaching an annual rate of 3%, while “core” inflation, stripping out food and energy, rose to 3.3%, after an unexpectedly sharp 0.4% jump in January alone — any prospect of substantial interest rate cuts from the Federal Reserve has dwindled even further.

Keep reading...Show less
Economy

AM Briefing: A $1 Billion Bailout

On costly payouts, soaring air travel, and EV sales

The Los Angeles Wildfires Drained California’s Insurer of Last Resort
Heatmap Illustration/Getty Images

Current conditions: Los Angeles is bracing for a massive rain storm that could trigger landslides in areas recently charred by severe wildfires • About 90% of districts in India have received little or no rainfall since the start of the year • Schools are closed in Kansas City, Missouri, where up to 6 inches of snow is expected today.

THE TOP FIVE

1. California’s last-resort insurer needs $1 billion bailout to cover wildfire claims

California’s state-backed insurance plan of last resort is short on funds to pay out claims from the Los Angeles wildfires. As a result, California Insurance Commissioner Ricardo Lara is asking private insurers that operate in the state to give the program, known as the FAIR Plan, $1 billion. The FAIR Plan is for people who can’t get private insurance coverage because their properties are considered high risk. As weather disasters get worse and private insurers pull back from the state, more people are relying on the FAIR Plan, and its policy load has doubled since 2020 to more than 452,000. The plan has received some 4,700 claims related to last month’s devastating fires, and paid out more than $914 million. But that’s not enough. The program expects a loss of $4 billion from the fires. This is the first time in 30 years that the program has needed to ask for more money. The fee will be divided between the private companies according to market share, and they’ll have 30 days to pay. Up to half of the cost can be passed on to their own policyholders. Even so, there are concerns that this will push private insurers to leave California to avoid further losses, exacerbating the state’s insurance crisis. State Farm, the state’s largest insurer, recently asked regulators to approve a 22% rate increase.

Keep reading...Show less
Yellow
Carbon Removal

Forest Carbon Removal Gets a $160 Million Vote of Confidence

Chestnut Carbon announces a major new funding round on the heels of its deal with Microsoft.

A forest.
Heatmap Illustration/Getty Images

The embattled nature-based carbon removal market got a significant show of support today as Chestnut Carbon announced a whopping $160 million Series B funding round, led by the Canada Pension Plan Investment Board. The startup focuses on planting trees and vegetation as well as on improving forest management practices to better remove carbon from the atmosphere.

This announcement comes on the heels of the company’s recent deal with Microsoft to remove over 7 million tons of carbon dioxide from the atmosphere over a 25-year period. That involves planting about 35 million native trees over about 60,000 acres. It’s Microsoft’s largest carbon removal contract in the U.S., and one of the largest domestic carbon removal projects period — including those that rely on engineered solutions such as direct air capture.

Keep reading...Show less
Green