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The White House is coordinating a five-year research plan to study ways of modifying the amount of sunlight that reaches the earth to temper the effects of global warming, a process sometimes called solar geoengineering or sunlight reflection.

The research plan will assess climate interventions, including spraying aerosols into the stratosphere to reflect sunlight back into space, and should include goals for research, what’s necessary to analyze the atmosphere, and what impact these kinds of climate interventions may have on the Earth, according to the White House‘s Office of Science and Technology Policy. Congress directed the research plan be produced in its spending plan for 2022, which President Joe Biden signed in March.

Some of the techniques, such as spraying sulfur dioxide into the atmosphere, are known to have harmful effects on the environment and human health. But scientists and climate leaders who are concerned humanity will overshoot its emissions targets say research is important to figure out how to balance these risks against a possibly catastrophic rise in the earth’s temperature.

Getting ready to research a topic is a very preliminary step, but it’s notable the White House is formally engaging with what has largely been seen as the stuff of dystopian fantasy. In Kim Stanley Robinson’s science fiction novel, “The Ministry for the Future,” a heatwave in India kills 20 million people and out of desperation, India decides to implement its own strategy of limiting the sunlight that gets to earth.

Chris Sacca, the founder of climate tech investment fund Lowercarbon Capital, says it’s prudent for the White House to be spearheading the research effort.

“Sunlight reflection has the potential to safeguard the livelihoods of billions of people, and it’s a sign of the White House’s leadership that they’re advancing the research so that any future decisions can be rooted in science not geopolitical brinkmanship,” Sacca told CNBC. (Sacca has donated to support research in the area, but has “zero financial interests beyond philanthropy” in the idea and does not think there should be private business models in the space, he told CNBC.)

Harvard professor David Keith first worked on the topic in 1989, and says it’s being taken much more seriously now. He points to a formal statement of support for research from a group he advises called the Overshoot Commission. The Environmental Defense Fund, the Union of Concerned Scientists, and the Natural Resources Defense Council have also indicated support for research into the topic.

To be clear, nobody is saying sunlight reflection modification is the solution to climate change. Reducing emissions remains the priority.

“You cannot judge what the country does on solar radiation modification without looking at what it is doing in emission reductions, because the priority is emission reductions,” said Janos Pasztor, the executive director of the Carnegie Climate Governance Initiative. “Solar radiation modification will never be a solution to the climate crisis.”

Three ways to reduce sunlight

The idea of sunlight reflection first appeared prominently in a 1965 report to President Lyndon B. Johnson entitled “Restoring the Quality of Our Environment,” Keith told CNBC. The report floated the idea of spreading particles over the ocean at a cost of $100 per square mile. A one percent change in the reflectivity of the earth would cost $500 million per year, which does “not seem excessive,” the report says, “considering the extraordinary economic and human importance of climate.”

The estimated price tag has gone up since then. The current estimate is that it would cost $10 billion per year to run a program that cools the earth by one degree Celsius, said Edward A. Parson, a professor of environmental law at UCLA’s law school. But that is remarkably cheap compared to other climate change mitigation efforts.

A landmark report released in March 2021 from the National Academies of Sciences, Engineering, and Medicine addressed three kinds of solar geoengineering: stratospheric aerosol injection, marine cloud brightening, and cirrus cloud thinning.

Stratospheric aerosol injection would involve flying aircraft into the stratosphere, which is between 10 and 30 miles up, and spraying a fine mist that would hang in the air, reflecting some of the sun’s radiation back into space.

“The stratosphere is calm, and things stay up there for a long time,” Parson told CNBC. “The atmospheric life of stuff that’s injected in the stratosphere is between six months and two years.”

Stratospheric aerosol injection “would immediately take the high end off hot extremes,” Parson said. And also it would “pretty much immediately” slow extreme precipitation events too, he said.

“The top line slogan about stratospheric aerosol injection, which I wrote in a paper more than 10 years ago — but it’s still apt — is fast, cheap, and imperfect. Fast is crucial. Nothing else that we do for climate change is fast. Cheap, it’s so cheap,” Parson told CNBC.

“And it’s not imperfect because we haven’t got it right yet. It’s imperfect because the imperfection is embedded in the way it works. The same reason it’s fast is the reason that it’s imperfect, and there’s no way to get around that.”

One option for an aerosol is sulfur dioxide, the cooling effects of which are well known from volcanic eruptions. The 1991 eruption of Mount Pinatubo, for instance, spewed thousands of tons of sulfur dioxide into the stratosphere, causing global temperatures to drop temporarily by about 1 degree Fahrenheit, according to the U.S. Geological Survey.

A giant volcanic mushroom cloud explodes some 20 kilometers high from Mount Pinatubo above almost deserted US Clark Air Base, on June 12, 1991 followed by another more powerful explosion. The eruption of Mount Pinatubo on June 15, 1991 was the second largest volcanic eruption of the twentieth century.

Arlan Naeg | Afp | Getty Images

There’s also a precedent in factories that burn fossil fuels, especially coal. Coal has some sulfur that oxidizes when burns, creating sulfur dioxide. That sulfur dioxide goes through other chemical reactions and eventually falls to the earth as sulfuric acid in rain. But, during the time that the sulfur pollution sits in the air, it does serve as a kind of insulation from the heat of the sun.

Ironically, as the world reduces coal burning to curb the carbon dioxide emissions that cause global warming, we’ll also be eliminating the sulfur dioxide emissions that mask some of that warming.

“Sulfur pollution that’s coming out of smokestacks right now is masking between a third and a half of the heating signal from the greenhouse gases humans have already emitted into the atmosphere,” Parson said.

In other words, we’ve been doing one form of sunlight reflection for decades already, but in an uncontrolled fashion with terrible warming effects, explains Kelly Wanser, the executive director of SilverLining, an organization promoting research and governance of climate interventions.

“This isn’t something totally new and Frankenstein — we’re already doing it; we’re doing it in the most dirty, unplanned way you could possibly do it, and we don’t understand what we’re doing,” Wanser told CNBC. 

Spraying sulfur in the stratosphere is not the only way of manipulating the amount of sunlight that gets to the earth, and some say it’s not the best option.

“Sulfur dioxide is likely not the best aerosol and is by no means the only technique for this. Cloud brightening is a very promising technique as well, for example,” Sacca told CNBC.

Marine cloud brightening involves increasing the reflectivity of clouds that are relatively close to the surface of the ocean with techniques like spraying sea salt crystals into the air. Marine cloud brightening generally gets less attention than stratospheric aerosol injection because it affects a half dozen to a few dozen miles and would potentially only last hours to days, Parson told CNBC.

Cirrus cloud thinning, the third category addressed in the 2021 report from the National Academies, involves thinning mid-level clouds, between 3.7 and 8.1 miles high, to allow heat to escape from the surface of the earth. It is not technically part of the “solar geoengineering” umbrella category because it does not involve reflecting sunlight, but instead involves increasing the release of thermal radiation.

Known risks to people and the environment

There are significant and well-known risks to some of these techniques — sulfur dioxide aerosol injection in particular.

First, spraying sulfur into the atmosphere will “mess with the ozone chemistry in a way that might delay the recovery of the ozone layer,” Parson told CNBC.

The Montreal Protocol adopted on September 16, 1987, regulates and phases out the use of ozone depleting substances, such as hydrochlorofluorocarbons (HCFCs) which were commonly used in refrigeration and air conditioners, but that healing process is still ongoing.

Also, sulfates injected into the atmosphere eventually come down as acid rain, which affects soil, water reservoirs, and local ecosystems.

Thirdly, the sulfur in the atmosphere forms very fine particulates that cause respiratory illness.

The question, then, is whether these known effects are more or less harmful than the warming they would offset.

“Yes, damaging the ozone is bad, acid deposition is bad, respiratory illness is bad, absolutely. And spraying sulfur in the stratosphere would contribute in the bad direction to all of those effects,” Parson told CNBC. “But you also have to ask, how much and relative to what?”

The sulfur already being emitted from the burning of fossil fuels is already causing environmental damage and is already killing between 10 and 20 million people a year due to respiratory illness, said Parson. “So that’s the way we live already,” he said.

Meanwhile, “the world is getting hotter, and there will be catastrophic impacts for many people in the world,” said Pasztor.

“There’s already too much carbon out there. And even if you stop all emissions today, the global temperature will still be high and will remain high for hundreds of years. So that’s why scientists are saying maybe we need something else, in addition — not instead of — but maybe in addition to everything else that is being done,” he said. “The current action/non action of countries collectively — we are committing millions of people to death. That’s what we’re doing.”

For sunlight reflection technology to become a tool in the climate change mitigation toolbox, awareness among the public and lawmakers has to grow slowly and steadily, according to Tyler Felgenhauer, a researcher at Duke University who studies public policy and risk.

“If it is to rise onto the agenda, it’ll be kind of an evolutionary development where more and more environmental groups are willing to state publicly that they’re for research,” Felgenhauer told CNBC. “We’re arguing it’s not going to be some sort of one big, bad climate event that makes us all suddenly adopt or be open to solar geoengineering — there will be more of a gradual process.”

A man waits for customers displaying fans at his store amid rising temperatures in New Delhi on May 27, 2020. – India is wilting under a heatwave, with the temperature in places reaching 50 degrees Celsius (122 degrees Fahrenheit) and the capital enduring its hottest May day in nearly two decades.

Jewel Samad | Afp | Getty Images

Research it now or be caught off guard later?

Some environmentalists consider sunlight relfection a “moral hazard,” because it offers a relatively easy and inexpensive alternative to doing the work of reducing emissions.

One experiment to study stratospheric aerosols by the Keutsch Group at Harvard was called off in 2021 due to opposition. The experiment would have “threaten the reputation and credibility of the climate leadership Sweden wants and must pursue as the only way to deal effectively with the climate crisis: powerful measures for a rapid and just transition to zero emission societies, 100% renewable energy and shutdown of the fossil fuel industry,” an open letter from opponents said.

But proponents insist that researching sunlight modification technologies should not preclude emissions reduction work.

“Even the people like me who think it’s very important to do research on these things and to develop the capabilities all agree that the urgent top priority for managing climate change is cutting emissions,” Parson told CNBC.

Keith of Harvard agrees. His goal is “simply that we learn more and develop better mechanism[s] for governance,” he told CNBC.

Doing research is also important because many onlookers expect that some country, facing an unprecedented climate disaster, will act unilaterally to will try some version of sunlight modification anyway — even if it hasn’t been carefully studied.

“In my opinion, it’s more than 90 percent likely that within the next 20 years, some major nation wants to do this,” Parson said.

Sacca put the odds even higher.

“The odds are 100 percent that some country pursues sunlight reflection, particularly in the wake of seeing millions of their citizens die from extreme weather,” Sacca told CNBC. “The world will not stand idly by and leaders will feel compelled to take action. Our only hope is that by doing the research now, and in public, the world can collaboratively understand the upsides and best methods for any future project.”  

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SEC says Elon Musk should be sanctioned if he keeps dodging Twitter depositions

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SEC says Elon Musk should be sanctioned if he keeps dodging Twitter depositions

Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X looks on during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. 

David Swanson | Reuters

The Securities and Exchange Commission has asked a federal judge to sanction Elon Musk if he continues to violate the court’s order to appear for a deposition in a probe of his 2022 Twitter acquisition.

The SEC has been investigating whether Musk or anyone else working with him committed securities fraud in 2022 as the Tesla CEO sold shares in his automaker and shored up a stake in Twitter, ahead of his leveraged buyout of the company now known as X.

In May, the court ordered Musk to appear for a deposition by the financial regulators regarding the Twitter deal.

“Musk has now failed to appear before the SEC twice: first in September 2023, in defiance of a lawful administrative subpoena, and last week, in defiance of a clear court order,” SEC attorney Robin Andrews said in the Friday filing.

Andrews asked the judge to consider sanctions should Musk delay further, according to the filing.

“The Court must make clear that Musk’s gamesmanship and delay tactics must cease,” Andrews wrote.

The filing also revealed, in a footnote, that the SEC intends to ask the court to hold Musk in “civil contempt” for canceling a deposition on Sept. 10, giving the agency only a few hours notice that he would not appear. Musk’s cancellation cost the SEC time and money after it sent personnel to Los Angeles to depose him and he didn’t appear for the investigative interview, the agency said.

Musk’s deposition in the probe has been rescheduled for a date in early October at an SEC office, the filing said.

“Without further action by the Court, nothing deters Musk” from “simply failing to show up for that date,” Andrews wrote.

Musk’s attorney, Alex Spiro, a partner at Quinn Emanuel in New York, wrote in a response that “such drastic action would be inappropriate,” adding that the SEC and Musk had agreed rescheduling would be permissible in light of an emergency.

Additionally, Musk and his companies have “cooperated and are cooperating with the SEC in multiple other ongoing investigations,” Spiro wrote.

In a separate, civil lawsuit concerning the same Twitter deal, the Oklahoma Firefighters Pension and Retirement System has sued Musk in a federal court in New York accusing him of deliberately concealing his progressive investments in Twitter and intent to buy out the company.

The pension fund’s attorneys argue that Musk, by failing to clearly disclose his investments in and intentions to buy Twitter, had influenced other shareholders’ decisions and put them at a disadvantage.

Discovery from that case in New York yielded correspondence between an unnamed person at Morgan Stanley, and the executive who manages Musk’s money, Jared Birchall. In the messages, the Morgan Stanley contact wrote in February 2022 that Musk’s Twitter stock-buying strategy was closely held.

“No one knows what is going on and why but you and me,” the person at Morgan Stanley wrote. “Not compliance, not anyone.”

Read the court filing below:

Elon Musk's X is a financial 'disaster,' co-authors of new book 'Character Limit' say

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Qualcomm recently approached Intel about a possible takeover

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Qualcomm recently approached Intel about a possible takeover

Qualcomm CEO Cristiano Amon speaks at the Computex forum in Taipei, Taiwan, June 3, 2024.

Ann Wang | Reuters

Qualcomm recently approached struggling chipmaker Intel about a takeover, CNBC has confirmed.

It wasn’t clear if Intel had engaged in conversations with Qualcomm or what the terms would be, according to a person familiar with the matter who asked not to be named because the information was confidential.

The Wall Street Journal was first to report on the matter. Intel shares initially popped on the news before closing up about 3%, while Qualcomm shares fell about 3% at the close. 

The deal, if it were to happen, would be one of the largest technology mergers ever. Intel has a market cap of over $90 billion.

Once the world’s largest chipmaker, Intel has for years been in a downward spiral that accelerated in 2024. The stock had its biggest one-day drop in over 50 years in August after the company reported disappointing earnings. Intel shares are down 53% this year as investors express doubts about the company’s costly plans to manufacture and design chips.

Qualcomm and Intel compete in several markets, including for PC and laptop chips. However, Qualcomm, unlike Intel, doesn’t manufacture its own chips, and instead relies on firms such as Taiwan Semiconductor Manufacturing Company and Samsung to handle production.

On Monday, after a board meeting to discuss strategy, Intel CEO Patrick Gelsinger sent a memo to staff that reiterated the company’s commitment to investing heavily in its foundry business, a project that could cost $100 billion over the next five years. It also said that it was weighing outside investment.

Intel has also missed out on the artificial intelligence boom that’s captured the attention of Wall Street. Most of the advanced AI programs, such as ChatGPT, run on Nvidia graphics processors, instead of Intel central processors. Nvidia has more than 80% of the fast-growing market, according to analysts.

Qualcomm generates less revenue than Intel. It reported $35.8 billion in sales in fiscal 2023, compared with Intel’s $54.2 billion during the same period.

A potential deal would be complicated by antitrust and national security matters. Both Intel and Qualcomm do business in China, and both have seen deals scuttled by Chinese antitrust enforcers. Intel was unsuccessful with its attempted acquisition of Tower Semiconductor, as was Qualcomm in its bid to acquire NXP Semiconductor.

Other giant acquisitions in the space have also been scuttled. In 2017, Broadcom made a bid to buy Qualcomm for more than $100 billion. The Trump administration blocked the deal the following year on national security concerns, because Broadcom was based in Singapore at the time. And in 2021, the Federal Trade Commission sued to block Nvidia’s attempted purchase of Arm on antitrust grounds. The deal was called off in 2022 following additional pressure from regulators in Europe and Asia.

Representatives for Qualcomm and Intel declined to comment.

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Apple iPhone 16, Apple Watch Series 10 and AirPods 4 debut around the world

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Apple iPhone 16, Apple Watch Series 10 and AirPods 4 debut around the world

Apple CEO Tim Cook: We're very excited about iPhone 16 demand

Apple on Friday greeted customers at its stores around the world for the debuts of the iPhone 16, Apple Watch Series 10 and AirPods 4.

The new products were announced at an event earlier this month and have been available for pre-order since Sept. 13. The company lit up the glass cube at its Fifth Avenue Apple Store in New York City, in a nod to the enhanced Siri, which will light up the borders of the new iPhone’s screen when that feature rolls out next month.

Apple’s fresh iPhones mark the company’s latest move into artificial intelligence, with new Apple Intelligence features that will begin to launch in October. The new features will allow customers to rewrite text, remove objects from photos and speak with an improved Siri. The software advancements will only be available on iPhone 16 and last year’s iPhone 15 Pro devices.

A view of Apple’s new iPhone 16 at an Apple Store on the Regent Street in London, United Kingdom on September 20, 2024. 

Rasid Necati Aslim | Anadolu | Getty Images

But Apple shares slid on Monday after analyst reports suggested that demand for the latest iPhones was lower than expected. TF Securities analyst Ming-Chi Kuo said in a note on Monday that first-weekend sales were down about 12% year over year from the iPhone 15 last year. Barclays, JPMorgan and Bank of America also noted shipping times could translate to lighter demand for the more expensive iPhone Pro models compared with last year.

CNBC’s Steve Kovach spoke with CEO Tim Cook outside Apple’s Fifth Avenue store and asked whether sales looked better or worse than last year. “I don’t know yet. It’s only the first hour, so we’ll see,” Cook said.

On Friday, UBS analysts suggested investors shouldn’t overreact to what appears to be lighter sales because that data is also collected by analyzing the wait times for new iPhone models and that those were longer last year due in part to supply chain disruptions.

Apple Store Fifth Avenue in New York

Steve Kovach| CNBC

“Ahead of the iPhone 16 announcement, our analysis suggested that a lack of a killer app and arguably somewhat half-baked introduction of Apple Intelligence would dampen demand,” the UBS analysts wrote. “While we still argue the collection of iPhone/iOS attributes are more evolutionary than revolutionary, we caution that investors not overreact to data that suggests somewhat initial tepid demand.”

The UBS analysts said supply chain disruptions last year “slightly distorted/extended last year’s data,” which led to longer wait times for customers for Pro models. Last year, UBS wrote, customers had a 41-day wait time for some iPhone 15 Pro Max pre-orders compared with a 26-day wait time for the iPhone 16 Pro Max this year.

“Nevertheless, data across all models and regions roughly a week post launch support our view that a super-cycle is not imminent as US and China data on the margin is disappointing relative to last year,” they wrote.

Devices of the new Apple Watch Series 10 model are on display after the presentation at Apple headquarters. 

Andrej Sokolow | Picture Alliance | Getty Images

The Apple Watch Series 10 offers a larger screen than that of earlier models. It will support, along with the earlier Series 9, new Sleep Apnea detection, as well as other fresh features. The AirPods 4 offer a refresh with a smaller charging case and an option with noise cancellation.

CNBC reviewed the new iPhone 16 Pro Max and the Apple Watch Series 10 earlier in the week.

— CNBC’s Michael Bloom and Steve Kovach contributed to this report.

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