The Future of Oil
Energy Terminal Weekly Newsletter
November 15th 2022 | Issue #32 | Subscribe here
Happy Tuesday!
Welcome to the ET weekly, a platform dedicated to building the next generation of energy leaders. In this week's issue we cover:
⚡Green homes!
💵 Billions for climate tech
🌏 Is the EU backtracking on climate goals?
💌 Energy Ambassador Program
💥 Tension over climate reparations
⭐ Startup Spotlight: Aro Homes
🏠 Aro Homes is a SF based company that designs and builds homes to achieve the highest green certifications possible, including Passive House, LEED Platinum, and Living Building Challenge. They raised $21m in Series A funding from Innovation Endeavors, Western Technology Investment, and Stanford University.
🎉Apply to be an Energy Terminal Ambassador
Great opportunity for all those interested in growing their personal brand or learning more about the energy transition. Learn more here!
🚨 Episode 18 Out Now
In Episode 18, Hope and Michael are joined by Paul Sankey, renowned oil analyst who has been covering oil markets and oil majors for more than three decades. In the face of massive changes with Covid and the war in Ukraine, Paul breaks down the key trends he’s seeing in the market and what we can expect in the coming months. We move on to the strategies that oil & gas companies are using to decarbonize, how they can be successful players in the energy transition, and the companies he recommends people keep an eye on. We close out with some ideas on how the economy can become more energy efficient and how natural gas might help us decarbonize.
👉 Internship Spotlight
Interested in carbon removal technology? Check out Heirloom Carbon's Mechanical Engineering internship!
Want to learn more about student experiences at energy internships? Check out our student spotlights!
⏰ Missed Episode 17?
Episodes released bimonthly, subscribe to stay updated!
📚 Reading List
Climate Reparations? VC funding? Supply chain tensions? Check out this week’s handpicked reading list to learn more about these groundbreaking energy topics 🔥
🎙️Podcasts:
Climate One, On the Ground at COP27: Tallying Payments and Progress
Summary 📖 :
One of the focuses of COP27 is implementing plans to keep global warming below 1.5 degrees C
However, these plans have been disrupted by the Russian invasion of Ukraine which caused a rush to expand methane gas production in other countries to replace Russian supplies
The EU Renewable Energy Plan that was recently put out has increased renewable energy targets that would allow them to overachieve what they’ve committed to the UN
Seeing as though developing nations are the focus of this year’s COP, a large topic of conversation has been supporting and financing these nations to accelerate the transition to renewable energy
Columbia Energy Exchange, EV Battery Supply Chain: Tensions on the Ground
Summary 📖 :
As car manufacturers roll out massive investment in electric fleets and EV sales surge, battery minerals like lithium, nickel, and cobalt are in high demand
China controls much of the mineral processing supply chain, but the U.S. and Europe are aiming to onshore much of these operations to increase supply chain stability
Many OEMs don’t know where their minerals come from, and there is increasing focus on sourcing sustainable minerals from reliable sources
POLITICO Energy, The U.S. flirts with climate reparations if China also pays
Summary 📖 :
Biden administration is open to paying climate reparations, as long as they are not held legally liable, which is a large change in stance on this issue
However, the U.S. will only pay if China does, as China is the largest current creator of emissions
This is the first time Climate reparations have openly been on the COP agenda
Demands for reparations are being made because the countries suffering the most from climate change (countries that are losing land and/or cultural heritage due to climate effects) are not the countries that caused climate change
However, developing nations are not happy with this idea that China must pay
They believe China is just a delay tactic so that the U.S. and other responsible nations do not have to pay reparations
📰️ Articles:
Climate Tech VC, New Dry Powder for a New Climate
Summary 📖 :
Despite market downturn, venture capital funds broke a record by raising over $151B so far in 2022, more than any prior full-year
Around $64B of this capital is geared toward climate investments
More than 80% of AUM is managed by about 20% of funds, mainly “mega-funds” with AUM over $500 million
CNN, Uganda's President Museveni slams 'Western double standards' over Germany coal mine plans
Summary 📖 :
Germany, and many other European nations, have revived coal projects following Russia’s invasion of Ukraine
The decision to expand coal production has set back many EU nations’ climate targets
Uganda’s President Museveni is angered over this decision which will affect his nation, and many other African nations
The African continent has experienced some of the worst effects of climate change though it is the continent which has contributed the most to global warming
Uganda is looking to explore its oil reserves at a commercial level within the next few years
The EU Parliament passed a resolution warning against this project, but Museveni insisted that the project would proceed
Reuters, Mexico’s Pemex to work with EPA to bring down methane emissions
Summary 📖 :
Pemex, a Mexican state oil company, stated that they will work with the EPA to reduce greenhouse gas emissions to meet international climate commitments
The EPA will help Pemex with economic diagnoses and analysis to support decision-making in its onshore oil and natural gas practices, which have been under scrutiny in the past year
Mexico has now committed to reduce their emissions by 35% by 2030
And head here to check out previous reading lists !
☄️ Thanks for reading this edition of ET weekly!
New episodes will be out soon, get excited. And, if you missed Episode 16 listen here!
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