Alaska, America’s worst state for business, pins hopes on a post-oil boom in carbon offsets
An oil pipeline stretches across the landscape outside Prudhoe Bay in North Slope Borough, Alaska, May 25, 2019.
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Alaska can be a rugged and unforgiving place, and that’s not just its landscape. Its economy is prone to big booms and wrenching busts. Lately, it has seen more busts.
More than any other state, Alaska is dependent on oil. As much as 85% of the state’s unrestricted general fund revenue comes from oil production, according to state estimates. In some years, it has been well over 90%. But oil production has been in long-term decline in the state, which was once America’s No. 1 producer of crude but has been surpassed by several shale oil boom states, including Texas, New Mexico and North Dakota. Alaska’s crude production in 2022 was roughly equal to that of Oklahoma, and it hit the lowest level since 1976, according to Energy Department data.
This trend helps explain why Alaska‘s economy performed worse than any other state last year, according to the Commerce Department, shrinking by 2.4%. And it explains why the Last Frontier finished dead last in CNBC’s 2023 America’s Top States for Business rankings.
In addition to a last-place finish in the Economy category, Alaska ranks 49th in the Infrastructure, Education, and Access to Capital categories. It finished 48th in Cost of Doing Business. This is the seventh time since 2007 that Alaska has finished at the bottom, and the third time in the last five studies.
Alaska’s carbon turnaround plan for the future
Alaska isn’t giving up on crude. Recent approvals such as the controversial Willow Project have led state officials to forecast an increase in production in the years ahead. But Gov. Mike Dunleavy and the state legislature have a plan that they hope will reverse Alaska’s fortunes once and for all, by making the state less susceptible to gyrations in the oil market.
“Alaska was built on a promise that we would be north of the future. That we would be visionary,” Dunleavy, a Republican, said at a news conference May 23.
Dunleavy was marking the signing of SB 48, legislation that officially puts the state in the carbon business.
“Just like oil, just like gas, just like our timber, this is a commodity that can be monetized now,” he said.
The Tongass National Forest on Prince of Wales Island, Alaska, July 2, 2021.
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Under the new law, Alaska will be able to sell so-called “carbon offset credits,” capitalizing on the state’s vast public forest lands. Companies that emit carbon will be able to buy the credits, effectively paying the state to preserve and protect its forests, thereby canceling out, or offsetting, those emissions.
What the state doesn’t spend on maintaining its forests, it can keep as revenue.
Alaska Natural Resources Commissioner John Boyle, who is working on the rules to implement the program, said in an interview with CNBC that the market for the new credits could be huge as companies discover the limits of carbon reduction technology.
“Across America, and in the rest of the world, you see a number of companies that have set very aggressive net zero (emission) targets for themselves,” he said. “Ultimately, in order for a lot of these companies to be able to hit the targets that they’ve set for themselves, they’re going to need to look for other options for offsets.”
The emissions offset market is growing
Carbon offset programs are already gaining popularity around the world. The California Air Resources Board operates an extensive offset program that the state says is an essential part of its program to reduce greenhouse gas emissions.
When Dunleavy unveiled the legislation in January, he noted that Alaska’s Native Corporations have generated $370 million in revenue selling offset credits since 2019.
The state has not offered any estimates of how much revenue its program could generate, but Boyle said it could begin making money soon.
“I don’t think it’s unfair to say that the state fully anticipates seeing revenue within a relatively short period of time, likely within the next 12 to 18 months,” Boyle said. “We fully expect to see some new revenues coming in as companies acquire our leases and do other things to prepare themselves to develop carbon offset projects.”
Carbon credits are controversial
Alaska is all in on the plan. The bill passed the state Senate unanimously; only two members of the House voted against it.
But outside Alaska, there is no shortage of skepticism.
“Multiple lines of evidence suggest that Alaska’s forest carbon offsets program could produce carbon credits that don’t represent real climate benefits,” wrote Freya Chay and Grayson Badgley of the climate research group CarbonPlan in a commentary published in May.
They note that while the program promises to protect Alaska’s forests and the climate benefits they provide, it also promises not to reduce timber harvests. The researchers said the credits appear to be structured to “simply reward a landowner for doing what they already planned on doing.”
“Although this could be a win for the State budget, it would be a loss for the climate — and for the credibility of the voluntary carbon market,” they wrote.
Boyle argues that the funding from the offset credits will allow the state to manage its forests more effectively and efficiently. That way, he said, the state will eventually have larger forests — with more trees to capture carbon, and more timber left over to harvest.
“That gives you a margin by which, if you choose, you can do some selective timber harvesting, as long as you maintain a level that is appropriate with the baseline that’s been established,” he said.
Carbon credits are just the beginning of Alaska’s plan to transform its economy. Dunleavy has also proposed creating a “carbon sequestration” program, where the state would capture its carbon emissions — or accept shipments of carbon captured elsewhere — and inject them into underground storage beneath Alaska’s huge expanses of open land.
“There’s a real ability here to move the needle in managing the world’s carbon and storing it for geologically significant periods of time,” Boyle said.
They believe that there is also an ability to diversify Alaska’s economy and make it competitive again, while helping the planet at the same time.
TQ, the German force behind some of the lightest and quietest e-bike motors on the market, just took a leap forward – again. Barely weeks after debuting the lightweight HPR60 e-bike drive system, the company has introduced the HPR40, now claiming the title of the lightest and most efficient mid-drive motor in the world.
Tailored for road and gravel e-bikes, the HPR40 clocks in at just 1.17 kg (2.6 lb). That means it has slashed nearly half the weight of the previous HPR60, which weighed 1.92 kg (4.2 lb).
Despite being smaller, it still delivers a respectable 40 Nm of torque and up to 200W of peak power, making it ideal for riders seeking subtle assist rather than brute force. This isn’t about raw horsepower; it’s about efficiency and seamless integration.
Don’t expect to see it on the next 750W Lectric or Aventon, but look for it on higher-end gravel and road e-bikes where riders are looking for a modest boost instead of a powerful burst.
Unlike motors that have been rebadged from their original use on mountain bikes or commuters, TQ designed the HPR40 from scratch for lighter frames, aiming to remain nearly invisible on a bike’s bottom bracket and with controls hidden inside the handlebar. The result is a drive system that blends into the bike like a whisper, offering performance without the bulk.
At the heart of the HPR motor is TQ’s Harmonic Pin-Ring Transmission, which is a refined drivetrain rearranged to live fully inside a bike in place of the bottom bracket. This clever design eliminates noisy gears, reduces friction, and lets the motor engage instantly with zero lag. While that might sound like many mid-drives we regularly see from manufacturers like Bosch, TQ’s is so small and so deeply integrated that it’s barely visible to a casual observer.
The HPR40 pairs with a 290Wh battery that weighs just 1.46 kg (3.2 lb) and is hidden inside the downtube. There’s also a water bottle-sized 160 Wh range extender available, keeping total system weight under 2.7 kg (6 lbs). That’s one of the lightest fully integrated e-bike systems out there.
Control comes via a hidden handlebar remote hidden under the handlebar tape, and a sleek end-cap LED display keeps essentials in view without disrupting aesthetics. This stripped-down interface reinforces TQ’s philosophy: get out of the rider’s way. Or as New Atlas humorously described it, “it’s almost as if the company is daring riders to start a fresh round of mechanical doping scandals.”
TQ’s HPR40 isn’t just a fancy new drive system in a display booth, it’s already built into the new Canyon Endurace:ONFly, a sub‑10 kg (22 lb) e-road bike that tips the scales at just 9.9 kg. The Endurace:ONFly marries TQ’s whisper-soft assist with Canyon’s aerodynamic finesse, offering riders a bike that feels analog but rides electric.
The HPR40’s high torque density means riders can double their pedaling output with a modest 200 W boost. That translates to better climbs, longer rides, and a natural ride feel, all without the compromises of heavier systems. Considering that many riders can put out around 200W of constant power by themselves, the effect is like having a tandem rider along helping out, except that he only weighs 6 pounds.
The move shows that not every drive maker is merely chasing horsepower and torque figures. Instead, by merging elegant design, noticeable yet natural power, and light weight, TQ is proving that electric assistance doesn’t have to scream. It can whisper.
Electrek’s Take
Here’s the real story: the HPR40 isn’t just a technical footnote, it’s a signal. It shows that electric bike engineering is transitioning from brute force toward a future that also includes invisible, intuitive power systems. For riders chasing the delicate line between analog feel and electric assist, this is a breakthrough.
And considering that many riders are reaching an age where their mind wants to do the kind of rides that their body might no longer be capable of, systems like these can keep those riders in the saddle for longer. That’s many more years of keeping the good times rolling (and keeping the body young by continuing regular exercise).
Now the question is whether other brands will follow suit. Will we see this ultra-light motor trickle down into commuter e‑bikes or adventure-ready gravel rigs? If so, the day when an e‑bike feels exactly like a bike, but gives you a little assist when you need it most, just got much closer.
TQ is playing a long game: subtle, smart, and purpose-built. The HPR40 is merely the first move, and if this is any indicator, the next wave of e-bikes may feel less electric and more… old school?
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Environment
Elon Musk claims Tesla delivered its first car fully autonomously from factory to customer
Elon Musk claims Tesla has delivered its first car fully autonomously from the factory to a customer’s home “across town.”
If true, I’d argue that this is actually a bigger deal than its “Robotaxi” with supervisors, but there are still questions about the value of such a system.
The Tesla CEO announced on X:
The first fully autonomous delivery of a Tesla Model Y from factory to a customer home across town, including highways, was just completed a day ahead of schedule!!
Musk has been known to stretch the meaning of the words “fully autonomous” over the years, but he did give a few more details:
There were no people in the car at all and no remote operators in control at any point. FULLY autonomous! To the best of our knowledge, this is the first fully autonomous drive with no people in the car or remotely operating the car on a public highway.
This would be somewhat of an improvement from its recently launched Robotaxi service, which involves a Tesla employee in the passenger seat at all times, ready to hit a kill switch.
However, Musk’s last comment is not valid. Several companies have tested fully autonomous driving with no one in the driver’s seat or in the car, and Waymo has even started offering rides to paying passengers on freeways.
Highway driving is part of Waymo’s operations in Phoenix, San Francisco, and Los Angeles, although it is currently only available to employees through Waymo’s internal app in the latter two markets.
Musk says that a video of the milestone is coming soon.
The milestone comes after Tesla has been moving its vehicles autonomously from the end of the line to its delivery lots at factories in the US for the last few months.
Electrek’s Take
With in-car supervisors at all times and numerous issues arising in just the first few days of operations, Tesla’s Robotaxi launch fell short of expectations. For anyone who had previously experienced Tesla’s Supervised Full Self-Driving or a more comprehensive product like Waymo, it didn’t feel special.
An autonomous drive with no one in the car, including highway driving from the factory to a customer’s home, can be more impressive, albeit with some potential caveats.
“No people in the car at all and no remote operators in control at any point.” In some sense, Tesla’s FSD and Robotaxi programs would be able to do that too, it’s just that Tesla is not confident that they can do it reliably enough over long periods of time to remove the supervision.
Which raises the question: what’s different with this?
No one in the car, so Tesla doesn’t take the safety concerns as seriously? That would be weird, as the safety of people outside of the vehicle, aka other road users, also needs to be considered.
It’s possible that Tesla tested the particular route for this drive several times and then remotely, even potentially with a trailing car, as it was spotted several times in recent months, monitored it with someone ready to stop it at all times.
It wouldn’t be that far from what Tesla already operates, and not something scalable until we see data that shows Tesla can consistently do this safely over hundreds of thousands of miles.
Ultimately, that remains the main issue. Tesla is big on making videos and making showy statements when it comes to self-driving, but it has never released any relevant data. Ever. Let’s see it.
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The 2026 GMC Sierra EV is already over $27,500 cheaper than the outgoing model. With new deals dropping this month, the electric pickup is even more affordable.
The 2026 GMC Sierra gets more affordable and capable
After introducing the new Elevation and AT4 variants for the 2026 model year, GMC said the Sierra EV is now “right in the heart of the premium truck market.” It looks like GMC wasn’t just talking.
The 2026 GMC Sierra EV Elevation starts at $64,495. That’s $27,795 less than the 2025 Denali edition, which has a base price of $92,290 (which we had the opportunity to try out).
After launching new lease deals and other discounts this month, the 2026 GMC Sierra EV is surprisingly affordable. The base Sierra EV 4WD Elevation is listed for lease at just $559 per month. In comparison, monthly leases for the 2025 model year start at $949.
The offer is for a 36-month lease with $5,599 due at signing and based on an MSRP of $64,495. However, the deal is only good until June 30, 2025.
Since the Elevation and Denali trims start under the $80,000 threshold, they qualify for the $7,500 federal tax credit (as long as it’s still available).
GM is offering more ways to save on the 20,25 model year, including 2.9% APR for 72 months and a $3,000 Purchase Allowance.
The 2026 GMC Sierra EV is available with three battery pack options: Standard, Extended, and Max Range, boasting a range of up to 478 miles.
With an all-electric powertrain, the Sierra is more capable than ever. The base Elevation trim offers a best-in-class rating of up to 605 horsepower and can tow up to 12,300 lbs.
It also comes with a few added perks, including GMC’s MultiPro Tailgate, a flexible tailgate system with six different configurations that make hauling even easier.
Inside, the electric pickup features a 16.8″ infotainment system with Google built-in. GM’s Super Cruise hands-free driver assistance system comes standard on AT4 and Denali trims.
The new AT4 model features an added 2″ of ground clearance, a lifted coil suspension, perimeter grille illumination, and 35″ all-terrain tires. It also has an exclusive Terrain Mode, which maximizes torque, control, and more using GM’s new software.
| 2026 GMC Sierra EV trim | Starting Price (MSRP including $2,05 DFC) |
Max Driving Range |
| Elevation (Standard Range) | $64,495 | 283 miles |
| Elevation (Extended Range) | $72,695 | 410 miles |
| AT4 (Standard Range) | $81,395 | 390 miles |
| AT4 (Extended Range) | $91,695 | 478 miles |
| Denali (Standard Range) | $71,795 | 283 miles |
| Denali (Extended Range) | $79,995 | 410 miles |
| Denali (Max Range) | $100,695 | 478 miles |
With DC fast charging speeds of up to 350 kW, the 2026 Sierra EV can gain about 100 miles of range in roughly 10 minutes.
After cutting lease prices last month, Chevy’s electric pickup, the Silverado EV, may also be worth considering right now.
Want to see what the electric pickup is all about? You can use our link to find 2025 and 2026 GMC Sierra EV models available at a dealer near you (trusted affiliate link).
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