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Yahoo
26 minutes ago
- Yahoo
China Emissions Fall While Chemicals Emerge as New Hotspot
(Bloomberg) -- A surge of renewable power led to declining emissions in China over the first half of the year even as a growing chemicals sector becomes a major new source of heat-trapping gases, according to new research. Carbon dioxide emissions from the world's largest polluter fell 1% on an annual basis from January through June, according to a report from the Centre for Research on Energy and Clean Air. The power sector led the decline, with steel and cement also contributing to the drop. Why New York City Has a Fleet of New EVs From a Dead Carmaker Trump Takes Second Swing at Cutting Housing Assistance for Immigrants Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Record additions of new wind turbines and solar panels meant generation from those two sources alone outpaced the growth in electricity demand, allowing thermal power plants to burn less coal and reduce emissions for the sector by about 3%, CREA lead analyst Lauri Myllyvirta said in the report. The first five months of this year saw a surge in renewable capacity, before a June 1 rule change expected to lower profits at wind and solar farms. Even with installations slowing after that went into effect, the resulting boost in clean energy should be enough to drive down power sector emissions into next year, Myllyvirta said. A prolonged slump in the property sector helped reduce output and emissions from the cement and steel sectors. The drop in steel emissions could have been larger, but mills tend to shut down costlier-but-more-efficient electric arc furnaces before cheaper coal-based production, Myllyvirta said. The overall decline was partly offset by a surge in emissions from the chemicals sector, particularly plants that convert coal into synthetic liquid and gas fuels, as well as building blocks for plastics. Coal use in the sector as a fuel and feedstock rose 20% in the first six months of the year, on top of a 10% increase last year. Coal-based chemical processes are more polluting than ones using traditional petroleum-based feedstocks. The sector emitted 690 million tons of CO2 last year, about 410 million to 440 million tons more than would have been released at traditional chemical plants, according to the report. On the Wire China's flows of rare-earth magnets to the US continued to recover in July — with volumes rising 76% month-on-month — after Beijing agreed to normalize exports as part of its trade truce with Washington. India and China have agreed to explore demarcating their disputed border, a key move toward resolving decades-old territorial disputes as the neighbors look to recalibrate ties against the backdrop of strained India-US relations. China said that it will show off new weapons at a military parade next month, potentially giving rivals like the US a first chance to see what hardware the Asian nation is ready to field. This Week's Diary (All times Beijing) Thursday, Aug. 21 CSIA's weekly solar wafer price assessment EARNINGS: Sinopec, Eve Energy, China Resources Power, Shandong Steel Friday, Aug. 22 China's weekly iron ore port stockpiles Sinopec earnings press conference in HK, 14:30 Shanghai exchange weekly commodities inventory, ~15:30 EARNINGS: Goldwind, JA Solar, Trina, Ganfeng Lithium, China Coal, CMOC Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Survived Bankruptcy. Next Up: Cultural Relevance? Americans Are Getting Priced Out of Homeownership at Record Rates ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
NBC News
28 minutes ago
- NBC News
'A responsible approach': Obama backs California's response to Texas redistricting
Former President Barack Obama is backing California's plan to counter mid-decade redistricting efforts by Republicans in Texas. At a fundraising event Tuesday night for the National Democratic Redistricting Committee, Obama said the party needs to "respond effectively" to Republican attempts to gerrymander. 'I've had to wrestle with my preference, which would be that we don't have political gerrymandering, but what I also know is that if we don't respond effectively then this White House and Republican-controlled state governments all across the country, they will not stop, because they do not appear to believe in this idea of an inclusive, expansive democracy,' Obama said at the event that included former Attorney General Eric Holder and former House Speaker Nancy Pelosi, D-Calif. His remarks came a day before Republicans in the Texas House passed a bill to redraw congressional lines that would add five more GOP seats in Congress after next year's midterm elections. California Gov. Gavin Newsom last week called on state lawmakers to pass a ballot measure to redraw congressional lines in response to new redistricting plans in Republican-led states like Texas. While not prohibited, it is uncommon for states to put forward maps in between decennial census counts. Obama on Tuesday cited Newsom's plan, saying he has "tremendous respect" for the proposal which would allow redistricting that favors Democrats. 'Texas is taking direction from a partisan White House that is effectively saying: Gerrymander for partisan purposes so we can maintain the House despite our unpopular policies,' Obama said. 'So I believe that Gov. Newsom's approach is a responsible approach. He said this is going to be responsible. We're not going to try to completely maximize it. We're only going to do it if and when Texas and/or other Republican states begin to pull these maneuvers,' he added. The National Democratic Redistricting Committee echoed Obama's support in a social media post Wednesday night, calling Newsom's plan "a fair and responsible response to Trump's unprecedented power grab."
The Hill
an hour ago
- The Hill
GOP senator: US stake in Intel would be ‘step toward socialism'
Sen. Rand Paul (R-Ky.), a libertarian-minded Republican, criticized the Trump administration's push to acquire a stake in U.S. chipmaker Intel, suggesting the move would be a 'step toward socialism.' 'If socialism is government owning the means of production, wouldn't the government owning part of Intel be a step toward socialism?' Paul said on Wednesday in a post on the social platform X. 'Terrible idea,' he added, linking to a news story about the latest effort. The Trump administration is in talks to secure a 10 percent stake in the company, which would make the U.S. government one of Intel's largest shareholders. Commerce Secretary Howard Lutnick said Tuesday that the money for the stake would come from previously allocated Biden-era funding. Media reports have suggested that the stake would be in exchange for converting grants pledged to Intel under the CHIPS and Science Act. 'The president figures out that we should get, America should get the benefit of the bargain,' Lutnick told CNBC's 'Squawk Box.' 'I mean, that is exactly Donald Trump's perspective, which is, why are we giving a company worth $100 billion this kind of money?' he continued. 'What is in it for the American taxpayer? And the answer Donald Trump has is we should get an equity stake for our money.' Paul has long pushed for the federal government to play a smaller role in the daily lives of Americans and the U.S. economy. He voted against Trump's legacy-defining policy bill, citing concerns about increased spending and the national debt.
