You’re out of free articles.
Log in
To continue reading, log in to your account.
Create a Free Account
To unlock more free articles, please create a free account.
Sign In or Create an Account.
By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy
Welcome to Heatmap
Thank you for registering with Heatmap. Climate change is one of the greatest challenges of our lives, a force reshaping our economy, our politics, and our culture. We hope to be your trusted, friendly, and insightful guide to that transformation. Please enjoy your free articles. You can check your profile here .
subscribe to get Unlimited access
Offer for a Heatmap News Unlimited Access subscription; please note that your subscription will renew automatically unless you cancel prior to renewal. Cancellation takes effect at the end of your current billing period. We will let you know in advance of any price changes. Taxes may apply. Offer terms are subject to change.
Subscribe to get unlimited Access
Hey, you are out of free articles but you are only a few clicks away from full access. Subscribe below and take advantage of our introductory offer.
subscribe to get Unlimited access
Offer for a Heatmap News Unlimited Access subscription; please note that your subscription will renew automatically unless you cancel prior to renewal. Cancellation takes effect at the end of your current billing period. We will let you know in advance of any price changes. Taxes may apply. Offer terms are subject to change.
Create Your Account
Please Enter Your Password
Forgot your password?
Please enter the email address you use for your account so we can send you a link to reset your password:
McCarthy spoke for the trees.

The environmental movement likely won’t be missing Kevin McCarthy much.
His Bakersfield-based district is one of the centers of the California oil industry. The first major bill his House majority voted for would have scrapped a multi-billion dollar fund for clean energy investments in disadvantaged communities. He often took the side of agricultural interests in the Central Valley against environmentalists when it came to water policy. Environmentalist groups like Earthjustice and the Sierra Club have been criticizing him for literally more than a decade. The McCarthy-run House of Representatives passed bills (never turned into law) that would have undone swathes of the Inflation Reduction Act’s climate provisions and eased fossil fuel development.
But he has a thing for trees. The speaker of the House typically doesn’t directly sponsor much legislation, so it was noteworthy when McCarthy introduced a bill on Arbor Day with a fleet of Republican and Democratic co-sponsors, especially from his home state of California, called the Save Our Sequoias Act. McCarthy’s district doesn’t just include some of California’s oil industry, but also Sequoia National Park, which contains the massive General Sherman Tree, which stretches 275 feet into the air from a 36-foot diameter base.
The bill, which McCarthy introduced in 2022 as well, would codify existing relationships between different governments to protect the trees, fund a grant program to remove fuel — dry leaves, fallen branches, etc — around the trees, make it easier for private donors to fund programs for the trees, and allow projects to protect the trees to circumvent the usual environmental permitting process.
Get one great climate story in your inbox every day:
It was this last part that provoked many prominent environmental groups to oppose the bill, including the Sierra Club, the Natural Resources Defense Council, Earthjustice, and the League of Conservation Voters. When the bill was introduced earlier this year, an Earthjustice official called it “a misguided solution in search of a problem that could set a dangerous precedent for gutting environmental laws.”
The coalition formed to support the bill was a collection of industry groups, including those representing the logging industry and the Chamber of Commerce, free market or conservative environmentalist groups like the Property and Environment Research Center and American Conservation Coalition Action, as well as local statewide governments and conservation groups in California.
In other words, it’s what it looks like when a Republican tries to pass a conservation bill: a combination of intense local interest and trying to bring on as many of the party’s traditional business partners as possible.
The bill also had the influential co-sponsorship of Bruce Westerman, the Republican congressman from Arkansas who chairs the House Committee on Natural Resources. “Our priorities remain unchanged,” Rebekah Hoshiko, the committee’s communications director, told me in an email. “The Save Our Sequoias Act already passed out of committee and has overwhelmingly bipartisan support, and we will continue to advocate for it and our many other bills as they move through the legislative process.” The bill currently sits with the House Agriculture Committee.
Groups that focus on conserving these massive trees hope the bill will survive. The Save the Redwoods League told me in a statement that it is “optimistic about the opportunity that the Save Our Sequoias Act presents.”
For conservatives interested in climate change and conservation policy, the bill was an example of what they see as potential for other House leaders to craft bipartisan legislation. Stephen Perkins, the chief operating officer of the American Conservation Coalition Action, described the bill as “conservation policy that’s also climate action.”
The Save Our Sequoias Act, Perkins said, was able to attract a bipartisan coalition because, for Democrats, it presented both a conservation and climate win — “wildfires and forest management play a direct role in keeping emissions in line and keeping emissions goals” — while, for industry and conservative groups, “it’s about keeping communities functioning and state economies in a good place.”
And it also may present a kind of framework for another area of potential bipartisan overlap that McCarthy had shown some openness too: permitting reform. The exception carved out of environmental regulations for Giant Sequoia conservation was relatively small, but both Republicans and Democrats have shown some interest in a more general overhaul of federal environmental laws that, for Republicans, would limit reviews for all projects and for Democrats would hopefully make it easier to build renewable energy and especially transmission infrastructure. And McCarthy's own district doesn't just have oil in the ground, it also has energy in the sky, with windy mountain passes in the Tehachapis and the baking hot Mojave Desert.
The House Republican likely to negotiate any permitting deal, Louisiana Representative Garrett Graves, has been described as McCarthy’s ”wingman.”
While Perkins wouldn’t say who he or his group preferred among the crop of candidates to replace McCarthy, he did say that the “next speaker can’t ignore the opportunity to work on permitting reform,” noting that many young Republicans think the party should pay more attention to climate change.
“We’re willing to work with anyone and we have worked with all of the representatives from the majority leader to the whip and so on and so forth. We’re confident that whenever a new speaker is [elected], we’ll be able to pick up conversations when we left them off with Speaker McCarthy.”
Log in
To continue reading, log in to your account.
Create a Free Account
To unlock more free articles, please create a free account.
On Venezuela’s oil, permitting reform, and New York’s nuclear plans
Current conditions: Cold temperatures continue in Europe, with thousands of flights canceled at Amsterdam Schiphol Airport, while Scotland braces for a winter storm • Northern New Mexico is anticipating up to a foot of snow • Australia continues to swelter in heat wave, with “catastrophic fire risk” in the state of Victoria.
The White House said in a memo released Wednesday that it would withdraw from more than 60 intergovernmental organizations, including the United Nations Framework Convention on Climate Change, the international climate community’s governing organization for more than 30 years. After a review by the State Department, the president had determined that “it is contrary to the interests of the United States to remain a member of, participate in, or otherwise provide support” to the organizations listed. The withdrawal “marks a significant escalation of President Trump’s war on environmental diplomacy beyond what he waged in his first term,” Heatmap’s Robinson Meyer wrote Wednesday evening. Though Trump has pulled the United States out of the Paris Agreement (twice), he had so far refused to touch the long-tenured UNFCCC, a Senate-ratified pact from the early 1990s of which the U.S. was a founding member, which “has served as the institutional skeleton for all subsequent international climate diplomacy, including the Paris Agreement,” Meyer wrote.
Among the other organizations named in Trump’s memo was the Intergovernmental Panel on Climate Change, which produces periodic assessments on the state of climate science. The IPCC produced the influential 2018 report laying the intellectual foundations for the goal of limiting global warming to 1.5 degrees Celsius above pre-industrial levels.
More details are emerging on the Trump administration’s plan to control Venezuela’s oil assets. Trump posted Tuesday evening on Truth Social that the U.S. government would take over almost $3 billion worth of Venezuelan oil. On Wednesday, Secretary of Energy Chris Wright told a Goldman Sachs energy conference that “going forward we will sell the production that comes out of Venezuela into the marketplace.” A Department of Energy fact sheet laid out more information, including that “all proceeds from the sale of Venezuelan crude oil and oil products will first settle in U.S. controlled accounts,” and that “these funds will be disbursed for the benefit of the American people and the Venezuelan people at the discretion of the U.S. government.” The DOE also said the government would selectively lift some sanctions to enable the oil sales and transport and would authorize importation of oil field equipment.
As I wrote for Heatmap on Monday, sanctions are just one barrier to oil development among a handful that would have to be cleared for U.S. oil companies to begin exploiting Venezuela’s vast oil resources.
In a Senate floor speech, Senator Martin Heinrich of New Mexico blasted the Trump administration’s anti-renewables executive actions, saying that the U.S. is “facing an energy crisis of the Trump administration’s own making,” and that “the Trump administration is dismantling the permitting process that we use to build new energy projects and get cheaper electrons on the grid.” Heinrich, a Democrat, is the ranking member of the Senate Committee on Energy and Natural Resources and a key player in any possible permitting reform bill. Though he said he supports permitting reform in principle, calling for “a system that can reliably get to a ‘yes’ or a ‘no’ on a permit in two to three years — not 10, not 17,” he said that “any permitting deal is going to have to guarantee that no administration of either party can weaponize the permitting process for cheap political points.” Heinrich called on Trump officials “to follow the law. They need to reverse their illegal stop work orders, and they need to start approving legally compliant energy projects.”
He did offer an olive branch to the Republican senators with whom he would have to negotiate on any permitting legislation, noting that “the challenge to doing permitting reform is not in this building,” specifying that Senators Mike Lee, chair of the ENR Committee, and Shelly Moore-Capito, chair of the Senate Committee on Environment and Public Works, have not been barriers to a deal. Instead, he said, “it is this Administration that is poisoning the well.”

The climate science nonprofit Climate Central released an analysis Thursday morning ranking 2025 “as the third-highest year (after 2023 and 2024) for billion-dollar weather and climate disasters — with 23 such events causing 276 deaths and costing a total of $115 billion in damages,” according to a press release.
Going back to 1980, the average number of disasters costing $1 billion or more to clean up was nine, with an average total bill of $67.9 billion. The U.S. hit that average within the first weeks of last year with the Los Angeles wildfires, which alone were responsible for over $61 billion in damages, the most economically damaging wildfire on record.
The New York Power Authority announced Wednesday that 23 “potential developers or partners,” including heavyweights like NextEra and GE Hitachi and startups like The Nuclear Company and Terra Power, had responded to its requests for information on developing advanced nuclear projects in New York State. Eight upstate communities also responded as potential host sites for the projects.
New York Governor Kathy Hochul said last summer that New York’s state power agency would go to work on developing 1 gigawatt of nuclear capacity upstate. Late last year, Hochul signed an agreement with Ontario Premier Doug Ford to collaborate on nuclear technology. Ontario has been working on a small modular reactor at its existing Darlington nuclear site, across Lake Ontario from New York.
“Sunrise Wind has spent and committed billions of dollars in reliance upon, and has met the requests of, a thorough review process,” Orsted, the developer of the Sunrise Wind project off the coast of New York, said in a statement announcing that it was filing for a preliminary injunction against the suspension of its lease late last year.
The move would mark a significant escalation in Trump’s hostility toward climate diplomacy.
The United States is departing the United Nations Framework Convention on Climate Change, the overarching treaty that has organized global climate diplomacy for more than 30 years, according to the Associated Press.
The withdrawal, if confirmed, marks a significant escalation of President Trump’s war on environmental diplomacy beyond what he waged in his first term.
Trump has twice removed the U.S. from the Paris Agreement, a largely nonbinding pact that commits the world’s countries to report their carbon emissions reduction goals on a multi-year basis. He most recently did so in 2025, after President Biden rejoined the treaty.
But Trump has never previously touched the UNFCCC. That older pact was ratified by the Senate, and it has served as the institutional skeleton for all subsequent international climate diplomacy, including the Paris Agreement.
The United States was a founding member of the UN Framework Convention on Climate Change. It first joined the treaty in 1992, when President George H.W. Bush signed the pact and lawmakers unanimously ratified it.
Every other country in the world belongs to the UNFCCC. By withdrawing from the treaty, the U.S. would likely be locked out of the Conference of the Parties, the annual UN summit on climate change. It could also lose any influence over UN spending to drive climate adaptation in developing countries.
It remains unclear whether another president could rejoin the framework convention without a Senate vote.
As of 6 p.m. Eastern on Wednesday, the AP report cited a U.S. official who spoke on condition of anonymity because the news had not yet been announced.
The Trump administration has yet to confirm the departure. On Wednesday afternoon, the White House posted a notice to its website saying that the U.S. would leave dozens of UN groups, including those that “promote radical climate policies,” without providing specifics. The announcement was taken down from the White House website after a few minutes.
The White House later confirmed the departure from 31 UN entities in a post on the social network X, but did not list the groups in question.
Bloom Energy is riding the data center wave to new heights.
Fuel cells are back — or at least one company’s are.
Bloom Energy, the longtime standard-bearer of the fuel cell industry, has seen its share of ups and downs before. Following its 2018 IPO, its stock price shot up to over $34 before falling to under $3 a share in October 2019, then soared to over $42 in the COVID-era market euphoria before falling again to under $10 in 2024. Its market capitalization has bounced up and down over the years, from an all time low of less than $1 billion in 2019 and further struggles in early 2020 after it was forced to restate years of earnings thanks to an accounting error after already struggling to be profitable, up again to more than $7 billion in 2021 amidst a surge of interest in backup power.
The stock began soaring (again) in the middle of last year as anything and everything plausibly connected to artificial intelligence was going vertical. Today, Bloom Energy is trading at more than $111 a share, with a market cap north of $26 billion — and that’s after a dramatic fall from its all-time high price of over $135 per share, reached in November. By contrast, Southwest Airlines is worth around $22 billion; Edison International, the parent company of Southern California Edison, is worth about $22.5 billion.
This is all despite Bloom recording regular losses according to generally accepted accounting principles, although its quarterly revenue has risen by over 50%, and its reported non-GAAP and adjusted margins and profits have grown considerably. The company has signed deals or deployed its fuel cells with Oracle, the utility AEP, Amazon Web Services, gas providers, the network infrastructure company Equinix, the real estate developer Brookfield, and the artificial intelligence infrastructure company CoreWeave, Bloom’s chief executive and founder, KR Sridhar, said in its October earnings call.
While fuel cells have been pitched for decades as a way to safely use hydrogen for energy, fuel cells can also run on natural gas or biogas, which the company has seized on as a way to ride the data center boom. Bloom leadership has said that the company will double its manufacturing capacity by the end of this year, which it says will “support” a projected four-fold annual revenue increase. “The AI build-outs and their power demands are making on-site power generated by natural gas a necessity,” Sridhar said during the earnings call.
To get a sense of how euphoric perception of Bloom Energy has been, Morgan Stanley bumped its price target from $44 dollars a share to $85 on September 16 — then just over a month later, bumped it again to $155, calling the company “one of our favorite ‘time to power’ stocks given its available capacity and near-term expansion plans.”
Bloom has also won plaudits from semiconductor and data center industry analysts. The research firm SemiAnalysis described Bloom’s fuel cells as a “a fairly niche solution [that] is now taking an increasingly large share of the pie.”
It’s been a long journey from green tech darling to AI infrastructure for Bloom Energy — and fuel cells as a technology.
Bloom was founded in 2001, originally as Ion America, and quickly attracted high profile Silicon Valley investors. By 2010, fuel cells (and Bloom) were still being pitched as the generation source of the future, with The New York Times reporting in 2010 that Bloom had “spent nearly a decade developing a new variety of solid oxide fuel cell, considered the most efficient but most technologically challenging fuel-cell technology.” That product launch followed some $400 million in funding, and Bloom would hit an almost $3 billion valuation in 2011.
By 2016, however, when the company first filed with the Securities and Exchange Commission to sell shares to the public, it was being described by the Wall Street Journal as “a once-ballyhooed alternative energy startup,” in an article that said the fuel cell industry had been an “elusive target for decades, with a succession of companies unable to realize its business potential.” The company finally went public in 2018 at a valuation of $1.6 billion.
Then came the AI boom.
Fuel cells don’t use combustion to generate power, instead combining oxygen ions with hydrogen from natural gas and generating emissions of carbon dioxide and water, albeit without the particulate pollution of other forms of fossil-fuel-based electricity generation. This makes the process of getting permits from the Environmental Protection Agency “significantly smoother and easier than that of combustion generators,” SemiAnalysis wrote in a report.
In today’s context, Bloom’s fuel cells are yet another on-site, behind-the-meter natural gas power solution for data centers. “The rapid expansion of AI data centers in the U.S. is colliding with grid bottlenecks, driving operators to adopt BTM generation for speed-to-power and resilience to their modularity, fast deployment, and ability to handle volatile AI workloads,” Jefferies analyst Dushyant Ailani wrote in a note to clients. “Natural gas reciprocating engines, Batteries, and Bloom fuel cells are emerging as a preferred solution due to their modularity, fast deployment, and ability to handle volatile AI workloads.”
SemiAnalysis estimates that capital expenditure for Bloom fuel cells are substantially higher than those for gas turbines on a kilowatt-hour basis — $3,000 to $4,000 for fuel cells, compared to between $1,500 and $2,500 for turbines. But where the company excels is in speed. “The big turbines are sold out for four or five years,” Maheep Mandloi, an analyst at Mizuho Securities, told me. “The smaller ones for behind the meter for one to two years. These guys can deliver, if needed, within 90 days.”
Like other data center-related companies, Bloom has faced some local opposition, though not a debilitating amount. In Hilliard, Ohio, the state siting board overrode concerns about the deployment of more than 200 fuel cells at an AWS facility.
Bloom is also far from the only company that has realigned itself to ride the AI wave. Caterpillar, which makes simple turbine systems largely for the oil and gas industry, has become a data center darling, while the major turbine manufacturers Mitsubishi, Siemens Energy, and GE Vernova have all seen dramatic increases in their stock price in the last year. Korean industrial conglomerate Doosan is now developing a new large-scale turbine. Even the supersonic jet startup Boom is developing a gas turbine for data centers.
While artificial intelligence — or at least artificial intelligence companies — promises unforeseen technological and scientific advancements, so far it’s being powered by the technological and scientific advancements of the past.