Our One Year!!
Energy Terminal Weekly Newsletter
February 28th 2023 | Issue #41 | Subscribe here
Happy Tuesday!
Welcome back to ET weekly, Energy Terminal's weekly newsletter where we cover trends, opportunities, events and updates across the energy industry. It's been one year since the launch of our podcast, so today we are going to look back at the start of Energy Terminal.
In this issue:
👀 Our First Episode
💥 Energy Myth Busting
💲10 Billion for Energy Subsidies
📈 Mitigating the Risk of Rising Temperatures
🚢 Decarbonizing Shipping
🚨 Top 3 Energy Jobs 🚨
1) TRC Companies, Advanced Energy Consulting Intern
• TRC Companies is a national engineering and environmental consulting firm that provides integrated services to the energy, environmental and infrastructure markets. An advanced energy consulting intern will work to support various projects and clients.
2) Voyager Ventures, Summer Investment Associate
• Voyager Ventures invests in exceptional technology companies creating the foundations of a new, decarbonized economy. A summer investment associate will support Voyager’s investment work and Voyager’s growing portfolio of early-stage climate technology companies.
3) EDF Renewables, Hydrogen Projects Intern
• EDF Renewables develops and finances the construction of renewable energy facilities around the world. A hydrogen projects intern will support the project management team on Green Hydrogen projects.
👀 One Year Ago
It's been one year since the launch of Energy Terminal and we couldn't be more excited by how far we come. 24 episodes later and we've had amazing CEOs, Founders and Energy Thought Leaders on. We've learned about Hydrogen, Nuclear, Energy Efficiency, Carbon Accounting, Oil & Gas and much more. Let's take a look back at our first episode:
Episode 1: Why Energy? Why Now? with Dan Vermeer
In this episode, Michael Wood and his guest Dan Vermeer will talk about Dan's initial motivations to get involved in energy and environmental issues. And, how those motivations have changed over time.
“We're really talking about the future prosperity of people in the world and who has access to that and who doesn't. You would want to be part of that discussion, right? If you care about your own future of your kids, of your community, of your country, you're going to want to be in the discussion about what the future of energy is going to be."
Our first episode centers around the importance of being involved in the energy transition and why this industry is so important for our future and the future of the planet. Our goal is to catalyze youth involvement in the energy industry, and this begins with education about the industry and the exciting opportunities it holds. Thank you for being a part of our journey!
- Michael and Hope
📣 Episode 24
From blizzards in Alaska to drilling on a golf course in Los Angeles, Collin McClelland has seen it all when it comes to the oil and gas industry.
Collin entered the industry right out of high school when he started drilling wells in the Permian Basin in south Texas. Over 8 years in the industry, Collin learned the ins and outs of oil & gas drilling, working in every major oil field in the country. He got started in social media by building an Instagram account to over 300k followers and founded Digital Wildcatters in 2018 to change the status quo of the energy industry and to raise energy IQ.
📚 Reading List (2/27- 3/06)
Solar Radiation Management?! Carbon - Neutral Shipping and Energy Subsidies! Check out this week’s handpicked reading list to learn more about these groundbreaking energy topics 🔥
🎙️Podcasts:
Clean Sweep, Spencer Glendon on Climate Resilience and Nature’s Complexity
The effects of climate on a local level are felt globally, which underscores the need for global resilience rather than just local adaptation
Nature-based solutions are often overlooked but powerful tools to mitigate climate impact
A multi-faceted approach that incorporates emissions reduction with climate adaptation is critical alongside mechanisms to value nature for more than financial value
The Energy Gang, Climate Change is Shaping Our Most Important Decisions in the Energy Transition
Climate change is causing the energy industry to reevaluate how their infrastructure should be built out
Changing climate affects variable renewable power greatly, such as wind and solar, but it also damages traditional energy system
Global warming is hurting the wires on our grids, and affecting the cooling capabilities for fossil fuel and nuclear plants
In planning for the future, historical data can not be the only factor to determine climate risks
There needs to be an expectation that climate change is going to cause new and different risks than existed in the past
Volts, How to think about solar radiation management
Temperature rise due to climate change over the next 30-40 years is inevitable, so the risks of this need to be mitigated with short-term solutions
Solar Radiation Management (SRM) is one way to buy more time to reach zero-carbon by in a sense reflecting sunlight back into space
SRM is rather controversial and there are still a lot of unknowns that need to be researched more thoroughly
📰️ Articles:
Forbes, Decarbonizing the Shipping Sector Is A Long Trip But Within Reach
Shipping is responsible for 90% of world’s cargo, but also 13% of the greenhouse gas emissions for global transport
To reduce emissions, shipping company Maersk has ordered 13 new ships that use carbon-neutral fuels
These ships will reduce Maersk’s emissions by 3% (or 1 million tons)
These new ships, set to arrive between 2023 and 2025, are more expensive, but are what many of Maersk’s customers want
More than half of Maersk’s 200 largest customers have set zero-carbon targets for their supply chain
Currently, green ammonia or green methanol are the more carbon - neutral option, but these fuels are a stepping stone until green hydrogen is at scale
Many large shipping ports have also set carbon neutrality goals
Reuters, China’s new coal plant approvals surge in 2022
China approved 106 GW of coal-fired capacity in 2022, driven by concerns about energy security
In 2021, China struggled with blackouts and energy rationing due to drought limiting hydropower capacity and coal shortages limiting coal-fired capacity
Despite the increase in coal, China also constructed record levels of renewable energy, with 87 GW of solar installed in 2022
The Wall Street Journal, New $10 Billion Program for Energy Subsidies Set for Rollout by Treasury Department
The Treasury Department is starting a new program for subsidizing energy projects and implementing tax breaks for solar and wind projects in low-income communities
$1.6 billion of the first $4 billion is reserved for places where coal mines or coal-fired power plants have closed
To get these credits, organizations must complete an application, which is different from normal open-ended tax credits where projects simply need to meet specific criteria.
The tax benefits for small wind and solar projects will target community-based organizations and encourage new organizations to enter the market, which will create good-paying jobs in clean energy manufacturing, critical minerals processing, and solar installation
⏰ Missed Episode 23?
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