The big new Exxon Mobil climate change deal that got an assist from Joe Biden
Could it be that Big Oil’s next big thing got a big assist from Joe Biden?
Maybe, if carbon capture and storage is indeed as big a deal as ExxonMobil’s first-of-its-kind deal to extract, transport and store carbon from other companies’ factories implies.
The deal, announced last month, calls for ExxonMobil to capture carbon emitted by CF Industries‘ ammonia factory in Donaldsonville, La., and transport it to underground storage using pipelines owned by Enlink Midstream. Set to start up in 2025, the deal is meant to herald a new stage in dealing with carbon produced by manufacturers, and is the latest step in ExxonMobil’s often-tense dialogue with investors who want oil companies to slash emissions.
The Inflation Reduction Act, passed in August, may determine whether deals like Exxon’s become a trend. The law expands tax credits for capturing carbon from industrial uses in a bid to offset the high up-front costs of plans to capture carbon from places like CF’s plant, as other tax credits in the law lower costs of renewable power and electric cars.
The Inflation Reduction Act and Big Oil
The law may help oil companies like ExxonMobil build profitable businesses to replace some of the revenue and profit they’ll lose as EVs proliferate. Though the company isn’t sharing financial projections, it has committed to investing $15 billion in CCS by 2027 and ExxonMobil Low-Carbon Solutions president Dan Ammann says it may invest more.
“We see a big business opportunity here,” Ammann told CNBC’s David Faber. “We’re seeing interest from companies across a whole range of industries, a whole range of sectors, a whole range of geographies.”
The deal calls for ExxonMobil to capture and remove 2 million metric tons of carbon dioxide yearly from CF’s factory, equivalent to replacing 700,000 gasoline-powered vehicles with electric versions.
Each company involved is pursuing its own version of the low-carbon industrial economy. CF wants to produce more carbon-free blue ammonia, a process that often involves extracting ammonia’s components from carbon-laden fossil fuels. Enlink hopes to become a kind of railroad for captured CO2 emissions, calling itself the would-be “CO2 transportation provider of choice” for an industrial corridor laden with refineries and chemical plants.
An industrial facility on the Houston Ship Channel where Exxon Mobil is proposing a carbon capture and sequestration network. Between this industry-wide plan and its first deal for another company’s CCS needs, ExxonMobil is hoping that its low-carbon business quickly scales to a legitimate source of revenue and profit.
CNBC
Exxon itself wants to develop carbon capture as a new business, Amman said, pointing to a “very big backlog of similar projects,” part of the company’s pledge to remove as much carbon from the atmosphere as Exxon itself emits by 2050.
“We want oil companies to be active participants in carbon reduction,” said Julio Friedmann, a deputy assistant energy secretary under President Obama and chief scientist at Carbon Direct in New York. “It’s my expectation that this can become a flagship project.”
The key to the sudden flurry of activity is the Inflation Reduction Act.
“It’s a really good example of the intersection of good policy coming together with business and the innovation that can happen on the business side to tackle the big problem of emissions and the big problem of climate change,” Ammann said. “The interest we are seeing, the backlog, are all confirming this is starting to move and starting to move quickly.”
The law increased an existing tax credit for carbon capture to $85 a ton from $45, Goldman said, which will save the Exxon/CF/Enlink project as much as $80 million a year. Credits for captured carbon used underground to enhance production of more fossil fuels are lower, at $60 per ton.
“Carbon capture is a big boys’ game,” said Peter McNally, global sector lead for industrial, materials and energy research at consulting firm Third Bridge. “These are billion-dollar projects. It’s big companies capturing large amounts of carbon. And big oil and gas companies are where the expertise is.”
Goldman Sachs, and environmentalists, are skeptical
A Goldman Sachs team led by analyst Brian Singer called the law “transformative” for climate reduction technologies including battery storage and clean hydrogen. But its analysis is less bullish when it comes to the impact on carbon capture projects like Exxon’s, with Singer expecting more modest gains as the law accelerates development in longer-term projects. To speed up investment more, companies must build CCS systems at greater scale and invent more efficient carbon-extraction chemistry, the Goldman team said.
Industrial uses are the third-largest source of greenhouse gas emissions in the U.S., according to the EPA. That’s narrowly behind both electricity production and transportation. Emissions reduction in industrial uses is considered more expensive and difficult than in either power generation or car and truck transport. Industry is the focus for CCS because utilities and vehicle makers are looking first to other technologies to cut emissions.
Almost 20 percent of U.S. electricity last year came from renewable sources that replace coal and natural gas and another 19 percent came from carbon-free nuclear power, according to government data. Renewables’ share is rising rapidly in 2022, according to interim Energy Department reports, and the IRA also expands tax credits for wind and solar power. Most airlines plan to reduce their carbon footprint by switching to biofuels over the next decade.
More oil and chemical companies seem likely to get on the carbon capture bandwagon first. In May, British oil giant BP and petrochemical maker Linde announced a plan to capture 15 million tons of carbon annually at Linde’s plants in Greater Houston. Linde wants to expand its sales of low-carbon hydrogen, which is usually made by mixing natural gas with steam and a chemical catalyst. In March, Oxy announced a deal with a unit of timber producer Weyerhauser. Oxy won the rights to store carbon underneath 30,000 acres of Weyerhauser’s forest land, even as it continues to grow trees on the surface, with both companies prepared to expand to other sites over time.
Still, environmentalists remain skeptical of CCS.
Tax credits may cut the cost of CCS to companies, but taxpayers still foot the bill for what remains a “boondoggle,” said Carroll Muffett, CEO of the Center for International Environmental Law in Washington. The biggest part of industrial emissions comes from the electricity that factories use, and factory owners should reduce that part of their carbon footprint with renewable power as a top priority, he said.
“It makes no economic sense at the highest levels, and the IRA doesn’t change that,” Muffett said. “It just changes who takes the risk.”
Friedman countered by saying economies of scale and technical innovations will trim costs, and that CCS can reduce carbon emissions by as much as 10 percent over time.
“It’s a rather robust number,” Friedmann said. “And it’s about things you can’t easily address any other way.”
While NIU showed off a full lineup of production-ready electric scooters and motorcycles at EICMA this year, one of the most eye-catching was something you can’t buy just yet – but will definitely want to. It’s called the Concept 06, and it’s NIU’s boldest vision yet for the future of electric two-wheelers.
The Concept 06 is a high-performance electric maxi-scooter that blends power, futuristic design, and rider-focused technology in a way that feels more like a prototype from a sci-fi movie than something from a company best known for urban commuter scooters. But the way the company talks about it, the Concept 06 is actually angling for production instead of just catching eyeballs in the center of the booth.
And with performance like this, let’s hope the rubber does eventually hit the road.
Let’s start with the power: a massive 20kW side-mounted motor launches the Concept 06 to a top speed of 155 km/h (96 mph), putting it firmly in motorcycle territory. The TKX.LAB suspension system is designed to handle aggressive riding while still keeping things smooth over potholes and corners, and dual disc brakes provide serious stopping power.
But it’s the tech where NIU is really showing off. The Concept 06 is packed with smart mobility features that turn the scooter into a responsive, safety-focused machine. A rear radar monitors nearby vehicles and projects ground alerts to warn surrounding traffic. Smart adaptive headlights automatically adjust their beam to your environment, while ambient lighting “breathes” underneath the chassis for a futuristic glow.
Inside, the Concept 06 is built around personalized comfort and high-end convenience. Riders get an electrically adjustable handlebar and windscreen, a tray table (possibly for laptop work during a charging stop), and even future-ready options like wireless charging. Adaptive Cruise Control, Hill-Start Assist, Hill Descent Control, and Push Assist all make daily use more accessible and intuitive.
There’s also full 360° camera coverage with front, rear, and rider-facing cameras, plus a Sentry Mode that activates if someone tampers with the vehicle, sending alerts straight to your phone. Real-time tire pressure monitoring, regenerative braking, and a self-opening saddle round out the long list of rider-focused upgrades.
Electrek’s Take
Of course, this is still a concept vehicle, and it’s unlikely that every single one of these features will make it through to a potential production model. However, the Concept 06 shows that NIU is serious about pushing the boundaries of what an electric scooter can be. And it’s not like we haven’t seen NIU take cool designs that initially seemed far-fetched and ultimately bring them to production.
With high power, top-tier safety tech, and a feature list that rivals high-end EVs, the Concept 06 could be a glimpse at where NIU is going next. Let’s hope they don’t keep this one in the concept cage for long.
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While the typical buyers of the flagship Mercedes-Maybach EQS 680 may not have to ask what one costs, they do need to know what number to write on the check – and if they happen to be asking this month, that number will be $50,000 LOWER than before.
CarsDirect is reporting a MASSIVE $50,000 lease or purchase cash incentive on the $181,050 top-of-the-line Mercedes-Maybach EQS 680, which amounts to a JC Penney-like 27% discount from the luxo liner’s original asking price and the biggest factory discount deal on any new Mercedes-Benz model so far.
Mercedes-Benz nearly doubled the savings on the 2025 Mercedes-Maybach EQS 680 this month, making it the SUV with the largest rebate offer. The high-end luxury SUV is available with $50,000 in lease cash or purchase cash. Previously, the automaker offered $30,000, making this the best deal to date on the $181,050 vehicle.
For that money, Mercedes-Maybach EQS buyers get Rolls-Royce rivaling material appointments and infotainment features that wouldn’t look out of place in a futuristic sci-fi movie, as well as reclining and massaging rear seats with quilted leather upholstery, lumbar support pillows, and a whole lot more, too.
It’s nice in there
The Maybach EQS 680 is all about opulence, of course – and the list of available features reads exactly the way you’d expect it to on a ride like this. For example: there’s a 12.3″-inch” digital instrument cluster, 17.7″ OLED touchscreen central multimedia display, another 12.3″ OLED display for the front passenger, something called MBUX Hyperscreen, ventilated/rapid-heating front seats so your chauffeur doesn’t get too sweaty, the previously-mentioned massaging seats, “soft close” doors, power side-window sunshades for added privacy, illuminated running boards, and a 64-color choice of interior mood lighting.
Power and torque rarely matter on a ride that you’re more likely to be relaxing in rather than driving, but the big Mercedes doesn’t disappoint in that department, either, thanks to a fully variable 4MATIC AWD system with Torque Shift power vectoring that can send the big SUV’s 649 hp away from the wheels that slip to the wheels that grip, and also work to accelerate inside wheels at a different rate than outside wheels to neutralize handling at the limits.
You know, in case you need to escape the hungry mobs with pitchforks forgot to pick up little Suzie from soccer and need to get there now, Now, NOW!
The big EQS features a 107-ish kWh battery pack good for an EPA-estimated 200 miles of range, with 10-80% charge available in about 30 minutes on a 200 kW DC fast charger. And, trust me, that’s the kind of convenience your personal driver will love.
You can find out more about Mercedes’ killer EV deals on the full range of EQ models, from this top-shelf Maybach on “down” to the also super-discounted compact EQB crossover, below, then let us know what you think of the three-pointed star’s latest discount dash in the comments section at the bottom of the page.
SOURCE: CarsDirect; images via Mercedes-Benz.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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Despite decades of market dominance, it seems like the days of loud, finicky gas-powered lawnmowers may finally be behind us — and I say that because five of the highest-rated mowers on Amazon won’t burn a drop of gas.
While the federal push for EVs may have stalled under the current Trump Administration, state and local governments continue to tightening restrictions on noise and small-engine emissions — and that means your next lawn mower is more likely to plug in than fill up, whether you like it or not. The good news, however, is that in addition to being quieter, safer, and not poisoning the air you breathe while you walk behind them, electric mowers have come a long way in terms of power and performance in just a few years. So much so, in fact, that many of the highest-rated models on Amazon, period, are electric.
Consumer site SlashGear recently compared the average star ratings of a number of lawn mowers on Amazon, focusing on products that had at least 2,000 reviews and a four-star average or higher, and found that battery-electric units from EGO, Greenworks, and Worx were among the top-rated mowers, regardless of fuel type:
The products on this list have the highest ratings for lawn mowers on Amazon. Not only do they have high ratings, but they also have an extensive number of reviews from customers. There are lawn mowers not included on this list with higher customer ratings, but they don’t have the same quantity of reviews.
There’s one manual push mower (sometimes called a reel mower) on that top five list, but virtually no mention of the fact that there are precisely zero gas-powered mowers on the list – despite there being more than 600 pages of results when I searched “gas mower” earlier today. And it’s that fact that seems like the Real News™ item here, not the affiliate links.
So, in that spirit, here’s a brief rundown of each of the top-performing mower brands that’s both free of ad links and in alphabetical order. Enjoy!
EGO
Over the past few years, the EGO brand has staked a claim to being the gold standard for cordless lawn equipment with its high-voltage 56V battery platform and premium build quality, and the brand’s self-propelled mowers regularly top customer satisfaction charts (they show 4.6-star average rating with more than 2,600 reviews).
That’s no surprise, as the EGO mowers offer superior durability, long runtimes, quick charging, and enough torque to rival (if not outperform) comparable gas models.
Greenworks
Another electric lawn care standard-bearer, Greenworks has been covered a number of times in these pages for everything from a powerful 60V cordless chainsaw to an electric minibike. Today, though, we’re focusing specifically on the brand’s 24V 13″ brushless electric mower – a product with a 4.3-star rating after more than 21,000 Amazon reviews. (!)
Fans of the Greenworks lawnmowers often cite their low weight, durability, ease of use, and for a small suburban yard (let’s call it a 1/4-1/2 acres, on the high side) the 13″ version shown, above, should be more than up to the task.
WORX
Full disclaimer: I have a few WORX-branded toys in my garage, partly because of the brand’s smart, compact, and consumer-friendly approach to product design and partly because the brand’s excellent Power Share platform let users swap batteries between tools before some of the other brands figured out that was a huge selling point, giving WORX a significant head start in the logistical simplicity and convenience departments.
The results speak, meanwhile, for themselves. The brand enjoys high customer ratings for its 40V 17″ mower (above, which fits neatly between the other two options), and a growing base of users who’ve discovered that going electric doesn’t have to mean going expensive.
If you’re looking to get yourself some electric lawn equipment, keep an eye out for Electrek’s “Green Deals” posts which frequently feature big discounts. And check with your state or regional clean air regulator to see if any rebates are available – here’s California’s page, and here’s Colorado’s, but there are constantly shifting incentives available elsewhere too, so even if you’ve looked into those before: look again.
Source links throughout; featured image by EGO.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
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