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Donald Trump has nominated Chris Wright, CEO of Liberty Energy, as Secretary of Energy. Wright, a strong advocate for fossil fuels and critic of climate change initiatives, aligns with Trump's goal of enhancing U.S. energy production and reducing regulatory barriers. His nomination signals a shift towards prioritizing fossil fuel development over climate action.
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Amazon, Microsoft, and Google are increasingly investing in nuclear energy to meet the rising electricity demands of AI technologies. Amazon has signed agreements to develop small modular reactors (SMRs) and purchase nuclear power, while Google has partnered with Kairos Power for a groundbreaking energy deal. Microsoft is reviving the Three Mile Island reactor.
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Scout Motors has introduced pre-production models of the Terra pickup and Traveler SUV, set for production in 2027. Both vehicles will offer fully electric and extended-range options, targeting affordability in the U.S. EV market. Reservations are now open with starting prices below $60,000.
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During his state visit to Morocco, President Macron pledged French investment in Western Sahara, asserting that the territory's future lies under Moroccan sovereignty. This marks a significant shift in France's stance, which has historically been ambiguous regarding the region's status.
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Xpeng Motors introduced its Kunpeng Super Electric System, promising over 1,400 km range for electric vehicles (EVs) during its AI Day in Guangzhou. This move aims to enhance global expansion and address charging infrastructure challenges. Meanwhile, UK reports suggest revising EV tax incentives to boost sales and accessibility.
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As global leaders prepare for COP29, methane emissions are rising alarmingly. The US oil and gas lobby seeks to repeal methane penalties, while China struggles to implement its methane action plan. Experts warn that without urgent action, climate goals will be jeopardized.
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Chinese electric vehicle manufacturers are rapidly innovating and undercutting Western competitors on price and technology. Companies like Xpeng and Xiaomi are leading the charge with advanced features and competitive pricing, while traditional automakers like Volkswagen and Rivian struggle to adapt to the changing market landscape as of November 13, 2024.
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Recent studies reveal a significant rise in private jet emissions, with private flights increasing by 53% from 2019 to 2023. The wealthiest 0.003% of the population is responsible for a disproportionate share of these emissions, raising concerns about climate impact and inequality in air travel.
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Following Donald Trump's re-election, he has pledged to impose significant tariffs on imports, particularly targeting China. This has prompted global companies to reconsider their supply chains, with many seeking alternatives to Chinese manufacturing. The potential economic repercussions are being felt across various sectors, especially in Southeast Asia.
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As President-elect Trump prepares to impose tariffs of up to 60% on Chinese imports, experts warn of significant impacts on China's economy. The country faces challenges from a property slump and rising debt, while the U.S. seeks to leverage its position in trade negotiations.
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Recent reports highlight the growing diabetes epidemic in the US, affecting over 38 million people. Concurrently, new weight-loss drugs show promise in prolonging life for those with chronic kidney disease, indicating a potential shift in treatment approaches for these interconnected health issues.
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Shell has successfully appealed a landmark Dutch court ruling that mandated a 45% reduction in its carbon emissions by 2030. The appellate court acknowledged Shell's obligation to limit emissions but stated it could not impose a specific reduction target. Environmental groups expressed disappointment but plan to continue their legal battles against major polluters.
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Recent reports highlight significant developments in mining and recycling of critical minerals. Earth AI's discovery in Australia could reshape the palladium market, while the International Energy Agency emphasizes recycling's potential to reduce new mining needs by up to 40% by 2050, amid growing concerns over reliance on China for rare earths.
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The incoming Trump administration plans to eliminate the $7,500 federal tax credit for electric vehicles (EVs), which could significantly impact EV demand in the U.S. Analysts predict a potential drop in annual EV registrations by over 300,000 cars. Tesla, however, may benefit from the change as it is less reliant on subsidies compared to traditional automakers.
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As COP29 unfolds in Azerbaijan, the country's deep ties to oil are evident. Local pride in oil's historical significance contrasts with global climate goals. ExxonMobil's CEO advocates for fossil fuel investment while acknowledging climate challenges, highlighting the complex relationship between energy needs and environmental concerns.