Geothermal Escapes Trump’s Renewable Crackdown, Boosts Fervo’s IPO Bid Fervo Energy is also benefiting from AI’s ravenous electricity needs as it aims to go public later this year.

My story on one of the most closely-watched startups in clean energy and the challenges it faces as it scales up its ambitions (free gift link): www.bloomberg.com/news/feature...

Geothermal Escapes Trump’s Renewable Crackdown, Boosts Fervo’s IPO Bid Fervo Energy is also benefiting from AI’s ravenous electricity needs as it aims to go public later this year.

“We’ve been incredibly lucky,” CEO @timlatimer.bsky.social told me when I visited Fervo's Cape Station project in Utah. “It’s one thing to get lucky on timing, but it’s another to make sure you don’t ruin the opportunity.” 3/

Geothermal Escapes Trump’s Renewable Crackdown, Boosts Fervo’s IPO Bid Fervo Energy is also benefiting from AI’s ravenous electricity needs as it aims to go public later this year.

Conditions are so great Fervo is targeting an IPO this year. But the company's success hinges on whether that surge in interest can extend to a relatively unproven company in an industry — geothermal — that’s still a niche part of the world’s energy mix. 2/

Geothermal Escapes Trump’s Renewable Crackdown, Boosts Fervo’s IPO Bid Fervo Energy is also benefiting from AI’s ravenous electricity needs as it aims to go public later this year.

Fervo Energy might be the one clean tech startup having a good time in Donald Trump's America.

The company's commercial geothermal pilot came online in 2023, just as ChatGPT became a household name and the AI race took off in earnest. And geothermal tax credits have remained intact.

Record March Heat to Scorch Los Angeles, US Southwest An unusually early heat wave is set to grip Los Angeles and much of the Southwest, putting California’s already fragile snowpack, and therefore its water supplies, at risk.

Record heat will bake Los Angeles and the Southwest melting precious snow and setting the stage for a fire summer. CA measures its snow on April 1 to set supplies for the coming year. We will see what is left. #climate #water #california

www.bloomberg.com/news/article...

Besieged Berkshire Utility Tries to Rewrite Who Pays for Wildfires Utility-ignited fires have become a thorny issue for Warren Buffett’s successor.

This much is clear: As climate change has made wildfires more frequent and destructive, the issue of who pays for their costs has come to a head.

My story with @alexrajbhandari.bsky.social on the all-out offensive to rewrite who pays for wildfires: www.bloomberg.com/news/feature... 5/5

The breadth of the company’s campaign underscores the massive threat wildfires have become for PacifiCorp and utilities across the American west. In fact, it's one of the thorniest issues facing Buffett’s successor Greg Abel as he begins his reign as Berkshire CEO. 4/5

One utility in particular, the Berkshire Hathaway-owned PacifiCorp, has embarked on an all-out effort to curb the firm’s wildfire liabilities — both present and future. 3/5

To protect their finances, they’re seeking to offload the increased cost of doing business on electric ratepayers, wildfire victims, insurers and states – with some success. 2/5

From California to Texas, electric utilities are struggling to manage mounting fire risk in a warming climate. They are spending more than ever before on lawsuits and settlements, as well as on preventative measures, such as undergrounding lines. 1/5

Besieged Berkshire Utility Tries to Rewrite Who Pays for Wildfires Utility-ignited fires have become a thorny issue for Warren Buffett’s successor.

Story with @michellema.bsky.social
www.bloomberg.com/news/feature...

PacifiCorp, a utility owned by Berkshire Hathaway, has been facing mounting liabilities since the 2020 Labor Day fires in Oregon. It's fighting back in an all-out battle in courts and state capitols.

One of the thorniest issues for Warren Buffett's successor Greg Abel is the increasing risk of wildfires across the Western US amid climate change.

US Climate Forecaster to Be Absorbed in Weather Agency Reshuffle The US climate forecasting service will be absorbed into other federal departments as part of a re-organization announced to staff Thursday.

Scoop: The Climate Prediction Center is being folded into other agencies overseen by the National Weather Service

The change follows moves by the Trump administration to dismantle climate science programs

By @weathersullivan.bsky.social & @laurenthal.bsky.social

www.bloomberg.com/news/article...

How Trump's FEMA Secretly Dismantled Program to Prepare Americans For Disasters The administration last year closed a division that helped individuals get ready for emergencies.

Anyone used to be able to freely order print copies of FEMA preparedness material. When FEMA secretly closed the division behind that material, the backlog of copies were destroyed.

"Talk about a waste of taxpayer dollars," said former FEMA chief Deanne Criswell

www.bloomberg.com/news/article...

AI Lost Out to Traditional Models in Forecasting NYC's Blizzard Two days before New York's biggest snowstorm in a decade began, forecasters were still unsure how much snow would fall. One traditional US model had consistently predicted a major hit, while newer art...

Why wasn't AI more helpful in predicting this week's giant snowstorm for New York and much of the Northeast? As one scientist put it, "there’s no perfect model yet -- that's the problem." Gift link 🔗

www.bloomberg.com/news/article...

Trump Eases Mercury Rules for Power Plants in Bid to Boost Coal The Environmental Protection Agency rolled back limits on mercury and other toxic air pollutants for coal- and oil-fired plants.

Another day, another rollback. The EPA on Friday rolled back rules limiting mercury & other toxic air pollution from power plants, the latest in a series of moves by Trump designed to boost the nation’s shrinking coal sector.

Story @bloomberg.com, gift link: www.bloomberg.com/news/article...

Trump’s EPA to Scrap Landmark Emissions Policy in Major Rollback The US Environmental Protection Agency plans this week to repeal a policy that provides the legal foundation for a raft of rules regulating greenhouse gas emissions, marking President Donald Trump’s m...

Today, the US EPA scrapped a key scientific determination — that greenhouse gases are harmful — that supports a swath of federal climate policies curbing emissions.

It marks President Donald Trump’s most consequential retreat yet from the fight against climate change.

More at @bloomberg.com:

Rising Fire Risk Prompts Utilities to Deliberately Cut Power Data, technology and human judgment help US power companies consider when to turn off transmission lines.

When facing fire risk, US power companies use data, technology and human judgment to weigh whether to turn off transmission lines.

What Democrats Can Learn From the Trump Energy Playbook Democrats shouldn’t be afraid to take more aggressive actions on clean energy, former Energy Secretary Jennifer Granholm said.

"Don't be afraid to break some eggs," former Biden-era Energy Secretary Jennifer Granholm said to the next Democratic administration at the BloombergNEF Summit in SF:

www.bloomberg.com/news/article...

As Trump Destroys Climate Programs, Gates Warns ‘Market Forces’ Not Enough The billionaire also said the world needs to put more of an emphasis on adapting to global warming as impacts worsen.

My latest for @bloomberg.com

www.bloomberg.com/news/article...

Trump Expands US Climate Retreat With Exits From UN Bodies President Donald Trump extended the US retreat from global cooperation on climate action by signaling a withdrawal from flagship international organizations, including the main United Nations and scie...

In addition to the UNFCCC and IPCC exits, Treasury just announced it's withdrawing from the global Green Climate Fund, calling it a "radical" organization

One Year After LA Fires, Recovery Is a Battleground The price tag for the costliest blazes in US history is still climbing and disputes over who will pay are escalating.

A year after the LA wildfires, the price tag for the costliest blazes in US history is still climbing. Who pays is uncertain.

Our story on how risk and damage have spread beyond burned neighborhoods and the fight to limit losses and shift liability: www.bloomberg.com/features/202...

How to Give a Greener Gift This holiday gift guide can help you pick original and unique presents — and hopefully avoid clutter and waste.

Not sure what presents to give your love ones this holiday season? @oliviarudgard.bsky.social and I have you covered with a green gift guide that includes climate-friendly choices. Enjoy, and happy holidays!

www.bloomberg.com/news/article...

Cajun Navy groups may raise a few million dollars in a good year, collectively. As President Trump weighs major changes to FEMA - like shutting it down - some leaders say they wouldn't be able to replace it. Or simply aren't interested.

As one put it: "We don't want to end up sucking like them."

When Greg Abel takes over the reins of Berkshire Hathaway next year, he will oversee a $1 trillion conglomerate with a whooping $382 billion war chest.

FEMA Puts Whistleblowers on Leave Shortly After Reinstating Them Days after reinstating a group of Federal Emergency Management Agency employees who raised concerns about the government’s disaster preparedness, federal officials have placed those whistleblowers bac...

In a reversal from this morning, FEMA puts whistleblowers back on leave after reinstating them

Gift link: www.bloomberg.com/news/article...

NYC’s Lander Recommends Dropping $42 Billion BlackRock Mandate New York City Comptroller Brad Lander is urging three of the city’s pension funds to drop BlackRock Inc. because of “inadequate” climate plans, the latest move to penalize investment firms for failing...

Landmark move: New York City's comptroller @bradlander.bsky.social, with hundreds of billions under his control, recommends dropping investment giant Blackrock because they won't reckon with climate change.
www.bloomberg.com/news/article...

Massive Wildfire Liabilities Push Utilities to Use AI to Stop Blazes Power companies are turning to tech firms that can spot fragile trees and map high-risk areas before fires start.

PG&E, National Grid and other big utilities are using AI models to pick out relatively cheap, targeted fixes that cut the risk of sparking a deadly fire -- think individual poles to replace and trees to trim back. Story w/ @joewertz.bsky.social (gift link) www.bloomberg.com/news/article...

Tesla Co-Founder Straubel’s Battery Startup Redwood Fires Dozens Tesla Inc. co-founder JB Straubel’s battery recycling firm Redwood Materials Inc. cut dozens of jobs as the startup scales back some of its ambitious projects to refocus on tapping into demand for gri...

Scoop: Tesla co-founder JB Straubel's battery recycling firm Redwood Materials laid off dozens of staff, as the company shifts its focus to energy storage and critical minerals. This comes a month after Redwood raised $350 million for an over $6 billion valuation. www.bloomberg.com/news/article...