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Sparks

Stockholm to Ban Gas-Powered Cars from Its Center

Sweden’s capital has a bold plan to boost EV adoption.

Stockholm.
Heatmap Illustration/Getty Images

As cities from New York to Paris to London do battle over driving restrictions in their downtowns, The New York Timesreports that Sweden’s capital is proposing one of the boldest measures yet: Beginning in 2025, it will ban most diesel and gas-powered cars from Stockholm’s city center. Drivers who break the rule, which will take effect on January 1, 2025, will be fined about $90 — far more than similar drivers in London’s Ultra Low Emission Zone, who must pay around $15 per day for the privilege of soiling the air.

Lars Strömgren, Stockholm’s vice mayor for transport, told the Times that “Petrol and diesel cars are prohibited, period ... one goal is to push technology and innovation within the transportation sector.” And it seems that the country will need all the help that it can get: Sweden’s conservative national government has for the past year worked to reverse the country’s environmental progress, lowering gas taxes and relaxing fuel requirements. Still, according to Mobility Sweden, a majority of Sweden’s new car registrations in the first half of the year have been to plug-in hybrid and fully electric vehicles.

Predictably, Sweden’s transport industry is also unhappy with the ban. “Since 2010, we have reduced emissions by 34%,” the Swedish Confederation of Transport Enterprises said, according toThe Guardian. “But the Green Party and their colleagues in the city of Stockholm are now in far too much of a hurry.” The Confederation did not specify when, exactly, would be an opportune time to clean the country’s air.

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Sparks

It’s Been a Big 24 Hours for AI Energy Announcements

We’re powering data centers every which way these days.

Google and Exxon logos.
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The energy giant ExxonMobil is planning a huge investment in natural gas-fired power plants that will power data centers directly, a.k.a. behind the meter, meaning they won’t have to connect to the electric grid. That will allow the fossil fuel giant to avoid making the expensive transmission upgrades that tend to slow down the buildout of new electricity generation. And it’ll add carbon capture to boot.

The company said in a corporate update that it plans to build facilities that “would use natural gas to generate a significant amount of high-reliability electricity for a data center,” then use carbon capture to “remove more than 90% of the associated CO2 emissions, then transport the captured CO2 to safe, permanent storage deep underground.” Going behind the meter means that this generation “can be installed at a pace that other alternatives, including U.S. nuclear power, cannot match,” the company said.

The move represents a first for Exxon, which is famous for its far-flung operations to extract and process oil and natural gas but has not historically been in the business of supplying electricity to customers. The company is looking to generate 1.5 gigawatts of power, about 50% more than a large nuclear reactor, The New York Timesreported.

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Trump Promises ‘Fully Expedited’ Permitting in Exchange for $1 Billion of Investment

But ... how?

Donald Trump.
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President-elect Donald Trump on Tuesday rocked the energy world when he promised “fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals” for “Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America,” in a post on Truth Social Tuesday.

“GET READY TO ROCK!!!” he added.

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Sparks

The Mad Dash to Lock Down Biden’s Final Climate Dollars

Companies are racing to finish the paperwork on their Department of Energy loans.

A clock and money.
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Of the over $13 billion in loans and loan guarantees that the Energy Department’s Loan Programs Office has made under Biden, nearly a third of that funding has been doled out in the month since the presidential election. And of the $41 billion in conditional commitments — agreements to provide a loan once the borrower satisfies certain preconditions — that proportion rises to nearly half. That includes some of the largest funding announcements in the office’s history: more than $7.5 billion to StarPlus Energy for battery manufacturing, $4.9 billion to Grain Belt Express for a transmission project, and nearly $6.6 billion to the electric vehicle company Rivian to support its new manufacturing facility in Georgia.

The acceleration represents a clear push by the outgoing Biden administration to get money out the door before President-elect Donald Trump, who has threatened to hollow out much of the Department of Energy, takes office. Still, there’s a good chance these recent conditional commitments won’t become final before the new administration takes office, as that process involves checking a series of nontrivial boxes that include performing due diligence, addressing or mitigating various project risks, and negotiating financing terms. And if the deals aren’t finalized before Trump takes office, they’re at risk of being paused or cancelled altogether, something the DOE considers unwise, to put it lightly.

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