Cooling towers at a nuclear power plant in Slovakia. Nuclear power is likely to be discussed in great detail at the COP28 climate change summit in Dubai, United Arab Emirates.
Janos Kummer | Getty Images News | Getty Images
The role that nuclear power should play in creating a more sustainable future has long provoked strong feelings — among advocates and critics alike.
It’s set to be a hot topic at the COP28 summit in Dubai, which begins this week. There are reports that there will be a concerted effort to get behind a big increase in nuclear capacity from now to 2050.
Of particular interest to observers will be a ministerial event called “Atoms4NetZero” on Dec. 5. Co-hosted by the International Atomic Energy Agency and the COP28 presidency, the event will “announce the IAEA Statement on Nuclear Power,” according to the COP28 website.
That, it adds, reflects the “critical role of nuclear in the net zero transition.”
Atoms4NetZero was namechecked by the World Nuclear Association in September when it announced the launch of an initiative called “Net Zero Nuclear,” which aims to triple the planet’s nuclear capacity by the middle of the century.
In a statement issued alongside that announcement, Rafael Mariano Grossi, the IAEA’s director general, stressed the importance of the coming climate summit.
“Building on the efforts made during COP 26 and COP 27, nuclear energy will feature even more prominently at COP28,” he said.
“As more nations understand the role nuclear can play in achieving energy security and decarbonisation targets, global support for nuclear energy is growing,” he added.
The IAEA, for its part, will also have its own “Atoms4Climate” pavilion at COP28, where it says it will “showcase how nuclear technology and science are addressing the twin challenge of climate change mitigation and adaptation.”
A major debate
In a sign of how polarizing the debate around the subject can be, this month, the leader of Germany’s center-right Christian Democratic Union lamented his country’s move away from nuclear power after the closure of its last three plants in April 2023.
“The German government took a decision which was in our view absolutely wrong, a strategic mistake to get out of nuclear,” Friedrich Merz told CNBC’s Annette Weisbach.
Merz — whose party is not in the coalition government led by Chancellor Olaf Scholz — said rather than focusing only on wind and solar, “all energy sources” need to be utilized.
“The energy supply — for this country, for our industry — is decisive for our competitiveness,” he went on to state.
High-profile figures in the German government do not share Merz’s viewpoint.
“The phase-out of nuclear power makes our country safer; ultimately, the risks of nuclear power are uncontrollable,” Steffi Lemke, Germany’s federal minister for the environment and nuclear safety, said in April.
“We now face decades full of challenges before we can safely and responsibly dispose of our nuclear legacy,” she later added.
“But switching off the final three nuclear power plants will usher in a new era in energy production.”
This kind of analysis — that nuclear is not the answer — is shared by environmental organizations like Greenpeace.
“Nuclear power is touted as a solution to our energy problems, but in reality it’s complex and hugely expensive to build,” its website says. “It also creates huge amounts of hazardous waste.”
“Renewable energy is cheaper and can be installed quickly,” it added. “Together with battery storage, it can generate the power we need and slash our emissions.”
While Germany — Europe’s largest economy — has moved away from nuclear, other countries are looking to expand their capacity.
France, a major player in nuclear power, is also planning to increase its number of reactors.
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Energy markets are still affected by the shocks from Russia’s full-scale invasion of Ukraine in February 2022, and discussions about nuclear power are not going away anytime soon.
“Amid today’s global energy crisis, reducing reliance on imported fossil fuels has become the top energy security priority,” noted the International Energy Agency, viewed by many as a leading authority on the energy transition.
“No less important is the climate crisis: reaching net zero emissions of greenhouse gases by mid-century requires a rapid and complete decarbonisation of electricity generation and heat production,” it added.
“Nuclear energy, with around 413 gigawatts (GW) of capacity operating in 32 countries, contributes to both goals by avoiding 1.5 gigatonnes (Gt) of global emissions and 180 billion cubic metres (bcm) of global gas demand a year.”
Lectric Ebikes appears to be preparing for a major new product launch, teasing what looks like the next evolution of its wildly popular folding fat tire electric bike. Based on the clues, it looks like a new Lectric XP 4 could be inbound.
In a social media post released over the weekend, the company shared a minimalist graphic reading “XP4” along with the message “Tune in 5.6.2025 9:30AM PT.” That date – this Tuesday – suggests we’re just hours away from the big reveal of the Lectric XP 4.
If true, this would mark the next generation of the most successful electric bike in the U.S. market. The current model, the Lectric XP 3.0, has become an icon of accessible, budget-friendly electric mobility. Starting at just $999, the XP 3.0 offers a foldable frame, fat tires, a 500W motor, a rear rack, lights, and hydraulic brakes – all packed into a highly shippable design that arrives fully assembled. It’s the kind of package that has helped Lectric claim the title of best-selling e-bike brand in the U.S. for several years in a row.
With the XP 3.0 still going strong, the teaser raises plenty of questions. Will the XP 4.0 be a modest update or a major leap forward? Could we see new features like torque-sensing pedal assist, a location tracking option, or upgraded performance? Or is Lectric preparing a more comfort-oriented variant, maybe even with upgraded suspension or even more accessories included standard?
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The teaser image, which features stylized stripes in grey, blue, and black, may hold some clues. One theory is that the colors represent new trim options or component upgrades. Another possibility is that Lectric is preparing multiple variants of the XP 4.0 – perhaps targeting commuters, adventurers, and off-road riders with purpose-built versions. We took the liberty of a bit of rampant speculation late last year, so perhaps that’s now worth a revisit.
At the same time though, Lectric’s penchant for launching new models at unbelievably affordable prices has never run up against such strong pricing headwinds as those posed by uncertainty in the current US-global trade war fueled by rapidly changing tariffs for imported goods.
Previous versions of the Lectric XP e-bike line have seen sky-high sales
Whatever the case, Lectric’s knack for surprising the industry with high-value, customer-focused e-bikes means expectations will be high. The brand has built a loyal following by delivering reliable performance at a price point that few can match, and any major update to the XP lineup is likely to ripple across the market.
As a young and energetic e-bike company, Lectric is also known for throwing impressive parties around the launch of new models. It looks like I may need to hop on a red-eye to Phoenix so I can see for myself – and so I can bring you all along, of course.
Be sure to tune in Tuesday at 9:30AM PT to see what Lectric has in store – and you can bet we’ll have all the details and first impressions as soon as they drop.
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Logo of the Organization of the Petroleum Exporting Countries (OPEC)
Andrey Rudakov | Bloomberg | Getty Images
U.S. crude oil futures fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month.
U.S. crude was down $2.49, or 4.27%, to $55.80 a barrel shortly after trading opened. Global benchmark Brent fell $2.39, or 3.9%, to $58.90 per barrel. Oil prices have fallen more than 20% this year.
The eight producers in the group, led by Saudi Arabia, agreed on Saturday to increase output by another 411,000 barrels per day in June. The decision comes a month after OPEC+ surprised the market by agreeing to surge production in May by the same amount.
The June production hike is nearly triple the 140,000 bpd that Goldman Sachs had originally forecast. OPEC+ is bringing more than 800,000 bpd of additional supply to the market over the course of two months.
Oil prices in April posted the biggest monthly loss since 2021, as U.S. President Donald Trump’s tariffs have raised fears of a recession that will slow demand at the same time that OPEC+ is quickly increasing supply.
Oilfield service firms such as Baker Hughes and SLB are expecting investment in exploration and production to decline this year due to the weak price environment.
“The prospects of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels,” Baker Hughes CEO Lorenzo Simonelli said on the company’s first-quarter earnings call on April 25.
Oil majors Chevron and Exxon reported first-quarter earnings last week that fell compared to the same period in 2024 due to lower oil prices.
Goldman is forecasting that U.S. crude and Brent prices will average $59 and $63 per barrel, respectively, this year.
In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.
Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.
“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”
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Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.
“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”
The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.
The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”
Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.
Electrek’s Take
ComEd press conference at Chicago Drives Electric, 2024; by the author.