Scientists at NASA’s Goddard Institute for Space Studies (GISS) in New York have officially confirmed that July 2023 held the hottest global temperature ever in recorded history.
It’s quite obvious at this point that we’re feeling the effects of climate change, but what specifically contributed the most to July’s unprecedented heatwave?
Throughout the month, temperature records were shattered across multiple continents, with parts of South America, North Africa, North America, and the Antarctic Peninsula feeling the brunt of it. These regions experienced temperature increases around 7.2 F (4 C) above average, according to NASA’s press release on Monday.
It was also 2.1 F (1.18 C) warmer than the average July between 1951 and 1980, according to a NASA GISS analysis which defines “normal” temperatures as lasting several decades or more, typically 30 years. The five hottest Julys since 1880 have all occurred in the past five years.
This chart shows global temperature anomalies for every July since recording started in the 1880s. That huge red bar on the right was last month. Credits: NASA’s Goddard Institute for Space Studies / NASA’s Earth Observatory
The impact of rising temperatures reaches far beyond what’s just felt outside. It can lead to soaring mercury levels contributing to widespread environmental challenges, devastating wildfires, parched farmlands, and shrinking glaciers.
In response to the news of July being the hottest month ever, governments, businesses, and communities are being urged to accelerate their efforts to reduce greenhouse gas emissions, transition to renewable energy sources, and implement sustainable practices.
How did we get here?
Climate change is primarily driven by the increase in greenhouse gases in the Earth’s atmosphere, which trap heat and lead to the excessive warming of our planet.
The burning of fossil fuels, such as coal, oil, and natural gas, for energy, is also among one of the largest sources of carbon dioxide emissions. Although, the combustion of gasoline and diesel fuels in cars, trucks, airplanes, and large ships still dominates as the top emitter of greenhouse gases.
It’s also worth noting that deforestation and land-use changes release significant amounts of CO2 into the atmosphere as well.
Total U.S. Greenhouse Gas Emissions by Economic Sector in 2021. Credit:United States Environmental Protection Agency
As the planet continues to experience the consequences of a rapidly warming climate, the record-breaking heat of July 2023 serves as a stark wake-up call for a planet in need of immediate action from the government and individuals.
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U.S. Secretary of the Treasury Scott Bessent and U.S. Trade Representative Jamieson Greer attend a news conference after trade talks with China in Geneva, Switzerland, May 12, 2025.
Olivia Le Poidevin | Reuters
Crude oil futures jumped 4% on Monday, after the U.S .and China agreed to slash tariffs, easing trade tensions between the world’s two largest petroleum consumers.
U.S. crude oil was up $2.52, or 4.1%, to $63.54 per barrel. Global benchmark Brent rose $2.33, or 3.65%, to $66.24 per barrel.
Washington and Beijing agreed over the weekend in Switzerland to slash sky high tariff rates by 115%, U.S. Treasury Secretary Scott Bessent said Monday. The lower tariff rate will remain in place for 90 days as the world’s two largest economies continue to negotiate, Bessent said.
“I would imagine in the next few weeks we will be meeting again to get rolling on a more fulsome agreement,” Bessent said on CNBC’s “Squawk Box.”
U.S. tariffs on Chinese imports now stand at 30%, while Beijing’s tariffs on American goods are now 10%. The previous rates had effectively amounted to a trade embargo, Bessent said previously.
Oil prices had plunged the lowest level in four years earlier this month as President Donald Trump’s global tariff regime raised the risk of a recession that would slow demand. At the same time, OPEC+ has agreed to rapidly increase supply to the market this month and next.
Employees stand inside a supermarket without lights in Burgos on April 28, 2025, during a massive power cut affecting the entire Iberian peninsula and the south of France.
Cesar Manso | Afp | Getty Images
A catastrophic power outage affecting much of Spain, Portugal and the south of France has thrust the role of renewables and energy security into the spotlight.
An abrupt and widespread blackout, one of Europe’s worst in living memory, affected the entire Iberian Peninsula on April 28.
The outage, which lasted for several hours, plunged much of the region into darkness, stranded thousands of train passengers and left millions without phone or internet coverage or access to cash from ATMs.
Spanish authorities have since launched several investigations to determine the root cause of the incident, including a probe into whether a cyberattack could be to blame.
Alongside Spanish opposition parties, some external observers have flagged renewables and net-zero emissions targets as possible reasons for the outage, particularly given Spain and Portugal both rely on high levels of wind and solar for their electricity grid.
“It’s very sad to see what’s happened to Portugal and Spain and so many people there, but you know, when you hitch your wagon to the weather, it’s just a risky endeavor,” U.S. Energy Secretary Chris Wright told CNBC’s “Power Lunch” on April 28.
Spanish Prime Minister Pedro Sanchez and the country’s grid operator Red Electrica de Espana (REE) have both said record levels of renewable energy were not at fault for the blackout.
People queue at a bus stop at Cibeles Square in downtown Madrid as subway and trains are totally out of service due to a massive power outage in Spain, on April 28, 2025.
Thomas Coex | Afp | Getty Images
European Union energy chief Dan Jorgensen, meanwhile, said that there was “nothing unusual” about the sources of energy supplying electricity to the system at the time of the outage.
“So, the causes of the blackout cannot be reduced to a specific source of energy, for instance renewables,” he added.
‘Europe needs more energy’
European energy technology companies called for observers to refrain from drawing their own conclusions in the absence of a formal explanation from authorities.
Henrik Andersen, CEO of Danish wind turbine manufacturer Vestas, said he’d encourage “a degree of statesmanship” over the blackout, particularly as Spanish policymakers continue to investigate.
“First of all, energy security means that you can run societies without having blackouts. That’s stating the obvious,” Andersen told CNBC’s “Squawk Box Europe” on Tuesday.
“Everyone is grasping quick root causes and blaming each other, and I simply just don’t want to go there because until we know the root cause of why grids can fail across Spain and Portugal, let’s not second guess or try to blame someone at cybersecurity or blame individual energy sources,” he added.
“Europe needs more energy — and we probably also need a stronger grid. That goes without saying,” Andersen said.
Siemens Energy CEO Christian Bruch, meanwhile, said the German energy tech group was holding talks with the relevant transmission and utility operators following the blackout.
“What you do see is that when you build an energy system, you need to think about the generation, like solar, wind, gas, whatever, but you also need to think about how the overall system on the grid side [is[ operating and how you stabilize that,” Bruch told CNBC on Thursday.
Solar panels on the Seat Cupra SA plant in Martorell, Spain, on Thursday, March 13, 2025.
Bloomberg | Bloomberg | Getty Images
“This is sometimes underestimated in its complexity, and this is why products from us for grid stabilizations are in demand at the moment to balance these things out,” he continued.
“It’s possible to solve it but it will require investments and it’s not easy. It’s not just a couple of solar cells and some batteries. It’s a little bit more complex than this,” Bruch said.
‘Cash suddenly becomes really important’
For those on the ground at the time of the outage, the lack of power underlined the challenges of a digital society.
“Cash suddenly becomes really important,” Roseanna, a resident of the southern Spanish city of Málaga, told CNBC. She said she only had 40 euros ($45.16) available when the power cut just after midday.
“Obviously you can’t get money out and you can’t pay with card, so it’s certainly important to have a little bit of cash in your pocket at all times,” she continued.
“We’ve gone all digital but the system’s ruined if there’s no electricity,” Roseanna said.
Lease deals get all the hype, but most people still want to own the car after they’re done making all those payments on it. If that sounds like you, and you’ve been waiting for the interest rates on auto loans to drop, you’re in luck: there are a bunch of great plug-in cars you can buy with 0% financing in May, 2025!
As I was putting this list together, I realized there were plenty of ways for me to present this information. “Best EVs ..?” Too opinion based. “Cheapest EVs ..?” Too much research. “Best deal ..?” Too opinion based. In the end, I went with alphabetical order, by make. And, as for which deals are new this month? You’re just gonna have to check the list. Enjoy!
Acura ZDX
2024 Acura ZDX.
New for 2024, Acura ZDX uses a GM Ultium battery and drive motors, but the styling, interior, and infotainment software are all Honda. That means you’ll get a solidly-built EV with GM levels of parts support and Honda levels of fit, finish, and quality control. All that plus Apple CarPlay and (through June 2nd) 0% financing for up to 72 months makes the ZDX one the best sporty crossover values in the business.
All the electric Chevrolet models
Silverado EV, Equinox EV, and Blazer EV at a Tesla Supercharger; via GM.
Chevrolet is offering 0% financing for up to 60 months on all three of its Ultium-based EVs – and they’re all winners. The Silverado can be spec’ed up to a 10,500 lb. GVWR, making it capable enough to tow whatever horse, boat, or RV you put behind it.
As Stellantis flip-flops its way towards some kind of electrified future, Dodge is hoping that at least a few muscle car enthusiasts with extra cash will find their way to a Dodge store and ask for the meanest, loudest, tire-shreddingest thing on the lot without caring too much about what’s under the hood.
For them, Dodge has the new electric Charger. And if you still owed money on the Hemi you just totaled, Dodge will help get the deal done on its latest retro-tastic ride with a $3,000 rebate plus 0% financing for up to 72 months!
GMC Hummer EV
2024 GMC Hummer EV; via GM.
The biggest Ultium-based EVs from GM’s commercial truck brand are seriously impressive machines, with shockingly quick acceleration and on-road handling that seems to defy the laws of physics once you understand that these are, essentially, medium-duty trucks. This month, GMC is doing its best to move out its existing inventory of 2024s and ’25s so if you’re a fan of heavy metal you’ll definitely want to stop by your local GMC dealer and give the Hummer EV a test drive.
Honda Prologue
2024 Honda Prologue; via Honda.
The Honda Prologue was one of the top-selling electric crossovers last year, combining GM’s excellent Ultium platform with Honda sensibilities and Apple CarPlay to create a winning combination. Even so, there’s still some remaining 2024 inventory out there. To make room for the 2025 models, Honda is offering 0% APR for up to 72 months on the remaining 2024s.
Hyundai IONIQ 6
Hyundai IONIQ 6; via Hyundai.
From some angles, the Porsche influences in the Hyundai IONIQ 6′ design are obvious – but not so much so that it seems like a copy of anything. It’s aerodynamically efficient, comfortable, quick, offers up to 361 miles of range, can charge just about anywhere, and now through June 2nd, it’s available with 0% financing for up to 48 months.
Kia EV9
2025 Kia EV9; via Kia.
If you were waiting for a three-row SUV from a mainstream brand with a great warranty and normal doors, you’ve probably already checked out the Kia EV9. You’re not alone. Kia keeps setting EV sales records, and the EV9 is helping to drive those sales forward.
Starting at $55,175, the Lexus RZ promises up to 266 miles of EPA-rated range from a 72.8 kWh battery back in the “base” RZ300e (and 224 from the top-shelf RZ450e). With up to 308 hp and over 195 lb-ft of instant, all-electric torque, the RZ promises to be one Lexus’ zippier rides in any trim.
US News is reporting that remaining 2024 and ’25 Lexus RZ models qualify for 0% financing for up to 72 months in some regions.
Nissan Ariya
2024 Nissan Ariya.
I’ve already said that the Nissan Ariya didn’t get a fair shake. If you click that link, you’ll read about a car that offers solid driving dynamics, innovative interior design, and all the practicality that makes five-passenger crossovers the must-haves they’ve become for most families. With up to 289 miles of EPA-rated range, Tesla Supercharger access, and 0% interest from Nissan for up to 72 months, Nissan dealers should have no trouble finding homes for these.
Subaru Solterra
2025 Subaru Solterra; via Subaru.
Despite being something of a slow seller, this mechanical twin of the Toyota bZ4X EV seems like a solid mid-size electric crossover with some outdoorsy vibes and granola style that offers more than enough utility to carry your mountain bikes to the trail or your kayaks to the river. Add in 227 miles of range, some big discounts, and 0% financing for up to 72 months, and this should be a great month for electric Subaru fans to drive home in a new Solterra.
This month, get a Volkswagen ID.4 with 0% financing for up to 72 months or a $5,000 customer cash bonus to stack with it.
Disclaimer: the vehicle models and financing deals above were sourced from CarsDirect, CarEdge, and (where mentioned) the OEM websites – and were current as of 11MAY2025. These deals may not be available in every market, with every discount, or for every buyer (the standard “with approved credit” fine print should be considered implied). Check with your local dealer(s) for more information.
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