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Recently, Republicans received some favorable climate-related coverage. Utah’s 3rd District Congressman John Curtis announced the formation of a Conservative Climate Caucus. It came with a roster of roughly 60 Congresspeople, none of them particularly well known names. While they are light on content, they have sufficient info on their site to make a few early assessments. It’s possible that their actual actions will pleasantly surprise me, but the start is inauspicious.

First, though, it’s worth looking at some prior art in conservative climate actions.

There have been a few Republicans at the climate change table in the bipartisan Climate Solutions Caucus for years, and they include big names like Romney, Murkowski, Graham, Rubio, and Gaetz, all of whom are missing from the new Caucus (although it’s easy to understand why Gaetz wasn’t invited). And until the 2018 midterms, they were actually fully bi-partisan as their policy, with newcomers required to join in matched pairs.

Their solution is a revenue-neutral carbon fee and dividend, along with reduced regulation. It’s a good policy, as far as it goes, but it doesn’t go nearly far enough and it would have needed to start in 1990. We need governments to make tough choices, we need carrots to draw first-movers, and we need sticks to beat recalcitrant industries with. A carbon fee that’s low and capped at a too-low rate is exactly one policy lever. The carbon fee and dividend is bog-standard conservative economic policy, outside of Libertarian ideologues. Place a price on negative externalities and let the market take care of the rest.

The Climate Leadership Council is another legacy group focused on climate action. It was founded by senior Republican luminaries including former Secretaries of State James A. Baker and George P. Shultz, and Rob Walton, former Chairman of Walmart. Its focus is a revenue-neutral climate fee and dividend as well, along with a side helping of deregulation. Since its very conservative founding, it’s branched out to be a bi-partisan effort as well, and gained approval of Nobel Laureates in economics and corporate sponsorship. That corporate involvement is telling, by the way. There are 8 big fossil fuel-oriented emitters in the set, all of which have been doing quite well at greenwashing and notably less well at actually eliminating fossil fuels. When BHP, ExxonMobil, and BP are bellying up to the bar, the reasonable question of greenwashing arises. But the policies include a border carbon adjustment as well, and there are worse policy sets. They would start their fee at $40 per ton per the report and increase it above inflation until it hit $80, which is too low, but still better than nothing.

So many conservative policy strategists and economists favor carbon taxes. But watch what happens when sensible administrations implement this conservative Pigovian tax:

  • In Australia, center-left Labor brought a carbon tax in. The right-wing Liberals — with the support of the Oz version of the Heritage Foundation and coal baron money — derided it utterly, fought an election on it, and when they won, canceled it.
  • In Canada, the centrist Liberals brought in a revenue-neutral carbon fee and dividend to tax payers. The increasingly right-wing Conservatives derided it, fought two elections against it, thankfully losing both, and in a recent policy convention, refused to include climate change and action in their policies.

It’s like the Affordable Care Act, a Republican-created and tested policy that the conservative Obama Administration brought in. The Republicans immediately derided it as ObamaCare and fought tooth and nail against it for years. Consistency and so-called conservative parties like the Republicans don’t go hand in hand anymore.

So the new Republican-only Conservative Climate Caucus exists in a context. It doesn’t have big names associated with it. It’s inherently partisan. It’s entered a place where two pre-existing, well structured, well thought-through actually conservative caucuses and political action groups with senior Republican engagement already exist. And it doesn’t have a coherent policy it stands behind.

But it does have a set of ‘beliefs’, and they’ve already tipped their hand about what they are really all about. Let’s look at what they believe, point by point.

“The climate is changing, and decades of a global industrial era that has brought prosperity to the world has also contributed to that change.”

“Contributed to.” Right. The science is clear that we would be experiencing very slow cooling in a stable climate, but instead are seeing radically rapid heating, over 100 times faster than the heating which melted the continental glaciers 20-25 thousand years ago.

So yes, this is a belief. It’s not the reality. But that’s also not a policy indicator, so we can somewhat ignore it.

“Private sector innovation, American resources, and R&D investment have resulted in lower emissions and affordable energy, placing the United States as the global leader in reducing emissions.”

“Global leader.” Right. Germany is off 40% in GHG emissions since 1990. US emissions are about the same as they were in 1990, after having risen through 2010 or so. You have to cherrypick your timeframes to pretend the US is a global leader in emissions reduction when its per capita emissions are still among the highest in the world and its historical emissions are a full 25% of the global historical total.

This is a point of faith on the right. They really seem to believe this is true. So yes, more unsupported belief, not reality. And also not policy, although it’s a pointer to policy.

“Climate change is a global issue and China is the greatest immediate obstacle to reducing world emissions. Solutions should reduce global emissions and not just be “feel good” policies.”

China is not the greatest immediate obstacle in the real world. It is on track to hitting its (admittedly weak) Paris Agreement targets nine years early. It built as much wind and solar in 2020 as the rest of the world combined, 72 GW of wind and 48 GW of solar. It has 38,000 km of high-speed electrified passenger rail in operation, enough to circle the equator. It has well over 400,000 electric buses on the roads of its cities when no other country has 1,000 in operation. It buys 50% of all electric vehicles. It builds virtually all of the solar panels used globally. Chinese firms are two of the top five global wind turbine manufacturers.

China remained signatory to the Paris Agreement and acted when Republicans took the US out of the Agreement and regressed. For the past four years, the largest single obstacle to climate action was the United States. This is Sinophobic posturing, and indicative of policy that will not be useful. It sells well, and Biden does it too, but it remains harmful, finger-pointing nonsense.

And yet again, not policy, just a pointer to where policy might go.

“Practical and exportable answers can be found in innovation embraced by the free market. Americans and the rest of the world want access to cheaper, reliable, and cleaner energy.”

“Innovation” is a right-wing mantra as well. What it translates to is research funding, funding for the fossil fuel industries for failed carbon capture technologies, and yet more billions for nuclear energy. Innovation has already been embraced by the free market. It’s called wind and solar power. And it’s delivering cheaper, reliable, and actually clean — not ‘cleaner’ — energy globally today.

Germany and Denmark are running well over 40% on renewable electricity and their grid reliability metrics are vastly better than the US’. The average German and Dane see less than 15 minutes of power interruptions annually.

No one in the US sees anything approaching that level of reliability.

But this suggests policies. They extrapolate to:

These are no climate-friendly policies. These are fossil fuel industry friendly policies.

“With innovative technologies, fossil fuels can and should be a major part of the global solution.”

No, they won’t. This is #hopium from the fossil fuel industry, the Republican’s primary sponsors. The fossil fuel industry has to dwindle to a petrochemicals industry providing industrial feedstocks, perhaps 20% of a barrel, probably less.

This is indicative of energy and climate policies which are not about the greatest good for the greatest number, but the greatest good for the smallest number, specifically fossil fuel oligarchs like the Kochs.

“Reducing emissions is the goal, not reducing energy choices.”

Eliminating emissions is the goal, and some energy choices do not make that at all possible. Physics makes that very clear. More meat for the fossil fuel industry at the expense of the climate here.


So what this all means is that if — big if — Republicans actually come up with a climate policy at the federal level based on the new Caucus, it will be pretty much what Trump did.

  • Point fingers at other countries
  • Give lots of money and love to the fossil fuel industry
  • Pretend that the US is a leader, as opposed to a laggard

There is no intersection visible between the sane, empirically based policies of the Democratic Party, which is actually focused on the greatest good for the greatest number, and the policies of the Republican Party at this point.

Organize now to keep them out of power in 2022 and 2024.


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Trump says he wants to negotiate a nuclear deal with Iran after imposing ‘maximum pressure’

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Trump says he wants to negotiate a nuclear deal with Iran after imposing ‘maximum pressure’

U.S. President Donald Trump speaks as he signs documents in the Oval Office at the White House in Washington, U.S. Feb. 4, 2025. 

Elizabeth Frantz | Reuters

President Donald Trump on Wednesday said he wants to negotiate a nuclear deal with Iran after reimposing a “maximum pressure” campaign on the Islamic Republic.

Trump said in a Truth Social post that work should begin on such a deal “immediately.” The president said reports that the U.S. and Israel are working together to attack Iran are exaggerated.

“I would much prefer a Verified Nuclear Peace Agreement, which will let Iran peacefully grow and prosper,” Trump said in the post. The president withdrew the U.S. in 2018 from the nuclear deal negotiated by President Barack Obama, called the Joint Comprehensive Plan of Action.

The president’s comments come a day after he signed a memorandum reimposing a maximum pressure campaign on the Islamic Republic. The memorandum directed the secretaries of State and Treasury to implement a campaign to drive Iran’s oil sales to zero, including exports to China.

OPEC member Iran is the third biggest oil producer in the cartel. U.S. crude oil and global benchmark Brent futures were trading more than 1% lower on Wednesday morning.

Trump told reporters in the Oval Office on Tuesday that he was unhappy to sign the memorandum and hoped “it’s not going to have to be used in any great measure at all.”

“We don’t want to be tough on Iran, we don’t want to be tough on anybody but they just can’t have a nuclear weapon,” Trump said. The president said he would be willing to talk to his Iranian counterpart when asked by reporters Tuesday.

Trump’s overture to Iran will be complicated by his unprecedented statements on the future of Palestinians and the Gaza Strip. The president said Tuesday during a news conference with Israel Prime Minister Benjamin Netanyahu that Palestinians should leave the Gaza Strip so the U.S. can take the enclave over and rebuild it.

Gaza has been devastated after Israel’s more than yearlong war in the enclave, launched in response to the militant group Hamas’ devastating terrorist attack in southern Israel on Oct. 7, 2023. Israel and Hamas agreed to ceasefire days before Trump took office.

Iran supports Hamas. The Islamic Republic and Israel launched a barrage of strikes against each other twice last year, raising fears that the Middle East would descend into a full-scale regional war.

Don’t miss these energy insights from CNBC PRO:

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Rising star Vammo rides past 1 million battery swaps for electric motorcycles

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Rising star Vammo rides past 1 million battery swaps for electric motorcycles

Vammo, a battery-swapping service for electric motorcycles in Latin America, has just announced that the company has surpassed an impressive 1 million battery swaps in a little over a year.

The company has built its service around a combination of VMoto electric motorcycles and a battery-swapping service designed to keep those motorcycles rolling all day without stopping to charge.

Headquartered in São Paulo, Brazil, Vammo’s electric motorcycles and battery swap cabinets currently serve around 1,800 customers, with that number growing quickly. The service was launched just over a year ago and has already saved its customers a combined US $1.3 million in fuel costs. That’s on top of preventing the release of 3,050 tons of CO2 emissions.

Vammo’s subscription model saves users as much as 50% compared to gasoline-powered motorcycles, translating into annual savings of thousands of dollars. “Not only are we helping to cut carbon emissions by 85%, but we’re also putting significant savings back into the pockets of our customers,” said Jack Sarvary, Vammo’s co-founder and CEO. “Many of our users, especially delivery drivers, are saving as much as $2,000–$4,000 per year, making electric mobility both affordable and sustainable.”

That success has led to rapid growth for the company. Last year alone, Vammo saw 8x growth in both revenue and customer base.

“Our growth demonstrates the power of affordable, clean transportation,” said Billy Blaustein, Vammo’s COO. “We are proving that sustainable mobility can be both accessible and scalable.”

Vammo’s VMoto models have now become the #1 registered electric motorcycle brand in Brazil, likely making the company the top player in Latin America.

Battery swapping for electric motorcycles has gained significant interest in the last few years, especially as Gogoro has expanded its world-leading model for swappable electric scooter batteries. But unlike Gogoro, which built a swappable battery standard and then began persuading other companies to adopt it, Vammo built its service around existing electric motorcycles and their already operational battery designs.

Vammo began operations in São Paulo and has positioned its service as a solution not only for Brazil but also for broader Latin America.

Brazil is uniquely suited for electric motorcycles and battery swapping, as the country not only sells 4x the amount of motorcycles per year as the US, but has some of the cleanest electricity in the world. Over 90% of the country’s electricity is generated by clean sources, primarily hydroelectric power, with wind and solar also contributing to the mix. Compare that to the global average of just 13%.

Vammo is building on its momentum, recently announcing a partnership with app-based taxi provider 99, offering mototaxi drivers access to its electric motorcycles.

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TotalEnergies posts 21% drop in annual profit, targets buybacks of $2 billion per quarter in 2025

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TotalEnergies posts 21% drop in annual profit, targets buybacks of  billion per quarter in 2025

Poster and logo on the Coupole Tower, compagny Total’s head office renamed TotalEnergies in 2021 in the La Defense business district west of Paris in Courbevoie, France on 7 June 2024.

Antoine Boureau | Afp | Getty Images

French oil major TotalEnergies on Wednesday reported a sharp drop in full-year earnings, against a backdrop of lower crude prices and weak fuel demand.

The oil and gas giant posted full-year 2024 adjusted net income of $18.3 billion, reflecting a 21% fall from $23.2 billion a year earlier.

Analysts had expected TotalEnergies’ full-year 2024 adjusted net income to come in at $18.2 billion, according to an LSEG-compiled consensus.

The energy major reported better-than-expected fourth-quarter adjusted net income of $4.4 billion, an 8% increase on the previous quarter.

TotalEnergies said it was able to close out the year on a positive note thanks to a strong performance in integrated liquefied natural gas and integrated power.

The results buck a trend of consecutive quarterly losses. TotalEnergies’ adjusted net income had dropped for five straight quarters to notch a three-year low in September last year.

Other earnings highlights:

  • TotalEnergies’ full-year net income came in at $15.8 billion, down from $21.4 billion a year earlier.
  • The company announced a 7% increase in the 2024 dividend to 3.22 euros ($3.35) per share.

In a trading update published last month, TotalEnergies said its fourth-quarter results would likely benefit from a slight increase in hydrocarbon production, stronger gas trading and a modest increase in refining margins.

TotalEnergies announced a 7% increase in the 2024 dividend to 3.22 euros ($3.35) per share and said it will target $2 billion of share buybacks per quarter in 2025.

The company said it expects higher gas prices and robust hydrocarbon production in the first three months of 2025.

Paris-listed shares of TotalEnergies were last seen 1.4% higher during early morning deals.

The world’s top oil and gas companies have seen profits fall from record levels in 2022, when Russia’s full-scale invasion of Ukraine prompted international benchmark Brent crude to jump to nearly $140 per barrel.

Oil prices have since cooled amid faltering global demand, with Brent crude futures averaging $80 per barrel in 2024 — about $2 per barrel less than during the previous year, according to the U.S. Energy Information Administration.

Energy giants have reported mixed fourth-quarter and full-year results amid weaker refining margins and lower crude prices.

U.S. oil giant Exxon Mobil beat Wall Street’s estimate for fourth-quarter profit last week, while U.S. oil producer Chevron and Britain’s Shell both missed analyst forecasts.

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