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Sparks

A Hilariously Sad Chart of COP28 Climate Pledges

See if you can identify the biggest scrooge here.

A woman in Tuvalu.
Heatmap Illustration/Getty Images

Early on Thursday, the first day of the UN Climate Conference in Dubai, world leaders secured an agreement for a fund that will help vulnerable nations deal with the impacts of climate change. My colleague Charu has written about the fund in more detail, but I was curious about one thing: How do these pledges compare to each country’s GDP? The answer is hilariously stark — I originally tried making a chart of these pledges as a fraction of GDP, but they simply didn’t show up on the axes.

Chart of pledges vs GDP.

For a point of comparison, the United States has so far sent $75 billion worth of aid to Ukraine since the war began, while the Loss and Damage Fund will be doled among the various countries who ask the UN for assistance. Still, it’s a start, and hopefully these contributions will grow over time.

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Sparks

Trump’s Pro-Gas, Transition-Skeptical Pick to Run the Nation’s Energy Data

Tristan Abbey would come to Washington from a Texas think tank that argues peak oil is way off base.

Donald Trump.
Heatmap Illustration/Getty Images

Donald Trump’s pick to run the Energy Information Administration works for a think tank that denies the existence of an energy transition.

The Energy Information Administration is the nation’s primary energy fuel and power forecasting agency. Since its inception in 1977, EIA has become a go-to source of data for many U.S. businesses, analysts, and policymakers alike. The agency’s previous administrators have been relatively apolitical academics and industry experts, including under the first Trump administration, whose EIA administrator came to the role from a faculty position at Rice University. The office’s current acting administrator is Stephen Nalley, who was appointed deputy administrator by Trump in 2018 after serving in various other roles at the agency.

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Sparks

Why Are AI Stocks Falling Again?

Microsoft is canceling data center leases, according to a Wall Street analyst.

Microsoft headquarters.
Heatmap Illustration/Getty Images

The artificial intelligence industry is experiencing another TD Cowen shock.

The whole spectrum of companies connected to artificial intelligence — the companies that design the chips, that supply the power, that make the generation equipment — shuddered Wednesday when the brokerage released another note from analysts pointing to evidence that Microsoft was giving up on its data center leases.

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Sparks

The IRS Is Taking Mercy on Electric Car Buyers

The tax agency reopened its online portal to allow dealerships to register sales retroactively.

The IRS building.
Heatmap Illustration/Getty Images

As recently as last month, some electric vehicle buyers were running into roadblocks when they tried to claim the EV tax credit on their 2024 returns. Their claims were rejected, it turned out, because the dealership where they bought their EV never registered the sale with the Internal Revenue Service.

On Wednesday, the IRS instituted a fix: It reopened the online portal for dealerships to report these sales retroactively.

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