In at this time’s Electrek Inexperienced Power Transient (EGEB):

  • Exxon is making large cuts to its personnel, which might be shut to fifteen% of the worldwide workforce.
  • Defend the earth and its biodiversity or face deadlier, extra frequent pandemics, says a brand new report.
  • A brand new report from Wärtsilä exhibits how a net-zero electrical energy system within the US is feasible by 2035.
  • Arcadia Energy is dedicated to creating clear vitality work for the planet and People’ financial institution accounts — all with out altering your utility firm. Sign up to receive your $20 Amazon Gift Card — *advert.

Exxon job cuts

Oil big Exxon introduced yesterday that it’ll reduce 1,900 US workers and cut back its international workforce by as a lot as 15% — round 14,000 individuals in complete. Exxon earlier this month reported that it was chopping 1,600 positions in Europe by the tip of 2021. That is as a result of pandemic, the shortage of demand for oil, and the transition into inexperienced vitality.

CNBC reported:

The corporate anticipates 14,000 contractors and workers to be affected by the already introduced packages. As of the tip of 2019, Exxon had a world workforce of 88,300, which included 13,300 contractors.

Exxon has repeatedly stated that its dividend stays a precedence.

This morning, Exxon (XOM) reported its third-quarter earnings. For the third straight quarter, it reported losses. This quarter it was a lack of $680 million.

CNBC reports today:

On an adjusted foundation, Exxon misplaced 18 cents per share throughout the quarter whereas producing $46.2 billion in income. The Road was anticipating a 25 cent loss per share and $46.01 billion in income, in response to estimates from Refinitiv.

year earlier, the corporate earned 75 cents per share on $65.05 billion in income. In the course of the second quarter of 2020, Exxon misplaced 70 cents per share on an adjusted foundation, whereas income got here in at $32.61 billion.

Electrek reported in March about how Exxon’s refusal to evolve isn’t working financially. As we wrote then:

In the event that they keep on their present path of justification for refusing to emulate their European counterparts by investing in inexperienced vitality and steering away from fossil fuels, it’s simply financially not good. Just ask Jim Cramer, who declared fossil fuels “executed” on January 31.

In August, Exxon was faraway from the Dow Jones Industrial Common, and there was no indication of change of course, the way in which that BP has chosen to do. The penny hasn’t but dropped at Exxon.

Pandemics and biodiversity

Twenty-two main consultants from world wide held an pressing digital workshop in regards to the connection between the degradation of nature and rising pandemic dangers.

The ensuing report (which you can read here) states that future pandemics will do extra injury than COVID-19 except we cut back human actions that drive the lack of biodiversity by better conservation of protected areas, in response to a serious new report from the Intergovernmental Science-Coverage Platform on Biodiversity and Ecosystem Companies (IPBES).

The bulk (70%) of rising ailments are brought on by microbes of animal origin. These microbes “spill over” as a result of contact amongst wildlife, livestock, and other people.

Dr. Peter Daszak, a zoologist, and president of EcoHealth Alliance and chair of the IPBES workshop, stated:

There is no such thing as a nice thriller about the reason for the COVID-19 pandemic — or of any trendy pandemic.

The identical human actions that drive local weather change and biodiversity loss additionally drive pandemic danger by their impacts on our surroundings. Adjustments in the way in which we use land; the growth and intensification of agriculture; and unsustainable commerce, manufacturing, and consumption disrupt nature and improve contact between wildlife, livestock, pathogens, and other people. That is the trail to pandemics.

In different phrases, we’ve acquired to cease doing issues that lead to biodiversity loss, equivalent to deforestation and wildlife commerce.

US potential in inexperienced vitality

A brand new report from international know-how firm Wärtsilä, “Aligning Stimulus with Power Transformation,” has modeled situations the place key G20 international locations, together with the US and the UK, focus their total present stimulus packages for vitality on cost-optimally rising inexperienced vitality, aligning financial restoration with decarbonization. 

For instance, within the US, if all the present stimulus cash going to fossil fuels ($72 billion) was allotted to advance inexperienced vitality, the nation may obtain greater than 100 GW of recent capability. This might lead to over 500,000 new inexperienced vitality jobs — 175% extra new jobs than if the stimulus was targeted on fossil fuels.

Wärtsilä modeled a state of affairs for a net-zero electrical energy sector for the US by 2035. The mannequin demonstrates {that a} cost-optimal, carbon-neutral energy system might be achieved with 1,700 GW of recent wind and photo voltaic, supported by battery vitality storage and versatile gas-fired energy capability working on renewable bio- or artificial fuels. The system may create 8.7 million jobs in inexperienced vitality alone and would price round $1.7 trillion. In different phrases, it’s achievable.

You may read the full report here.

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