Climate Crisis AM Edition 3/1/2024 Exxon CEO Denies Industry Hurt Climate
The green sector of the global car industry continues to face financial challenges as sales growth rates slow in China and the US and in the EU have fallen. One of the hurdles the EV industry faces is the perception that EVs are much more expensive than gas-powered vehicles. Among the tactics EV manufacturers have used to gain customers and fight for market share among one another is price cuts. Tesla has just lowered prices on some of its cars in China by over $1,000. China is the world’s largest EV market by a wide margin. The threat that price cuts make is that the EV sector, which is essential to a worldwide drop in harmful emissions, could be crippled financially by hits to company P&Ls.
Climate Threat —AI Data Centers
EV Next Horizon —Electric Airplanes
A wildfire in Texas, which is a group of wildfires, has become the largest in state history. This is of particular concern because the wildfire season is months away. It demonstrates the extent to which climate change has caused drought and high winds throughout the year in the US. The blazes also briefly shut down a nuclear plant. The area of the wildfires is larger than Rhode Island and growing rapidly. Texas Governor Greg Abbott has issued a disaster declaration for 60 counties. Economically, the fires are affecting the cattle industry and burning infrastructure, which includes homes.
Human Rights For Those Hurt By Climate
The Inter-American Commission on Human Rights (IACHR) has started reviewing statements from people across the Americas about how climate change has affected them. According to The Guardian, “Thursday’s hearing is part of a push for the IACHR to formally recognise forced displacement as a consequence of the climate crisis, to carry out country visits, and to establish guidelines to protect people internally displaced and those seeking refuge in other countries.” Those who testified were people from Mexico, the Bahamas, and Colombia.
The head of Exxon, one of the world’s largest oil companies, said his industry should not be faulted for climate change. CEO Darren Woods said the world “waited too long” to build green solutions. He commented to Fortune, “People who are generating the emissions need to be aware … and pay the price.” The comment comes as California and Chicago have filed suits against the oil companies for misleading the public about the effects of fossil fuels on dangerous emissions.
