From: "Climate Changed" <noreply@mail.bloombergbusiness.com>
Date: Jan 18, 2018 2:31 PM
Subject: The burn continues
To: <mbannerman@arcstarenergy.com>
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Last year was 1.51 degrees Fahrenheit warmer than the 20th century average, according to NOAA data released on Thursday. That makes 2017 the third hottest year on record. Seventeen of the 18 hottest years have come to pass in the 21st century. This is not normal.—Josh Petri
"We're warming up pretty much at the rate we anticipated a decade ago. Basically all of the warming of the past 60 years is attributable to human activities."
—Gavin Schmidt, director of NASA's Goddard Institute for Space Studies, announcing that 2017 was the third-hottest year on record.
Top stories
Dwindling snowpacks are worrying water managers around the world. Think of the snowpack as a natural reservoir. During the winter, it freezes in place. When temperatures rise in the spring, the water within is released gradually, filling reservoirs through the rest of the year. That pattern is fracturing around the world.
Bitcoin's power needs may be overblown. Last week, Morgan Stanley analysts said miners could use almost 1 percent of global demand. This week, Credit Suisse Group dumped cold water on the notion that the cryptocurrency would create "uncontrolled growth" in power demand. The bank's analysts recalled overly bullish predictions about demand from marijuana growers and data center operators who later found ways to curb their electricity use. Credit Suisse predicted a similar buzzkill for cryptocurrencies.
Trump's tax plan made it harder to finance renewables. There are provisions in the new law that may constrain some multinational investors' ability to do renewables tax-equity deals. At least $3 billion in potential deals are on hold for this type of financing.
Saudi Arabia, on the other hand, expects to start up to $7 billion worth of renewable energy projects this year. The kingdom and other Middle Eastern oil producers are looking to renewables to feed growing domestic consumption that's soaking up crude they'd rather export to generate income.
In 2011, Hideo Tsurumaki watched a giant tsunami sweep away cars filled with people trying to escape. If the cars had been able to float, he thought, fewer people would have perished. Two years later, he started to build a small, watertight electric vehicle that can float in floods, or even cruise at low speeds. By 2020, Tsurumaki hopes to take the company public.
What we've been reading
A water crisis often precipitates some level of civic unrest—see Nigeria, Syria, Somalia, and Iran. Climate change is expected to make water stress, and therefore global unrest, even worse.
Energy Secretary Rick Perry hugged coal executive Robert Murray during a meeting. A photographer who captured the moment was placed on administrative leave after making the pictures public.
Climate change predictions may be a lot less uncertain according to a new study in Nature. Researchers claim they've narrowed potential warming from a range of 3 degrees to a range of 1.2 degrees Celsius, which could have implications for how climate goals are set.
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