Treasury yields fall as worries around COVID-19 linger despite Congress passing aid bill (SPY -0.2%). CDC says no evidence new COVID strain causes increased risk of death.
The Market in Perspective
Here are the headlines moving the markets.
The Worlds First Hydrogen Hubs Are In The Making While hopes for hydrogen as a major energy carrier go back decades, a new generation of hydrogen plans are now coming forth from companies, industry groups and countries. The EUs ambitious plan for hydrogen is complemented by a growing number of national and regional plans in Europe, Asia and elsewhere. The remarkable number of hydrogen plans around the world indicate that a significant threshold has been reached. They cover an extensive range of applications. But they share a perspective that sees hydrogen as an indispensable energy
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iPolitics By Davis Legree. Published on Dec 22, 2020 11:47am
The Lead
The U.S. Senate and House of Representatives both passed a $900 billion US COVID-19 relief bill yesterday. The stimulus package includes a plan to reduce the usage of hydrofluorocarbons, chemicals used for refrigerators and air conditioners that are considered significantly worse for the climate than carbon dioxide.
The bill also contains a $35 billion US investment in renewable technology and energy efficiency, including $4 billion US for solar, wind, hydropower, and geothermal research and development, along with $1.7 billion US to help low-income families retrofit their homes with green technology.
“This is perhaps the most significant climate legislation Congress has ever passed,” said Grant Carlisle, a senior policy adviser at the Natural Resources Defense Council.
iPolitics By Davis Legree. Published on Dec 18, 2020 11:00am (Photo supplied by Trans Mountain)
The Lead
A series of safety incidents has caused Trans Mountain to temporary suspend its pipeline expansion until Jan. 4, 2021.
“Trans Mountain is proactively taking the step to temporarily stand down construction on the expansion project to review, reset, and refocus our efforts, and those of our contractors and their workers,” Ian Anderson, president and CEO of Trans Mountain, said in a news release.
The release did not mention specific incidents, but a contractor was injured earlier this week at a Trans Mountain construction site in British Columbia, according to the Canada Energy Regulator. Also, in October, 40-year-old Samatar Sahal was struck and killed by a piece of equipment while working on the pipeline in Edmonton.
iPolitics By Davis Legree. Published on Dec 17, 2020 12:57pm Natural Resources Minister Seamus O Regan is pictured on June 10, 2019. (Andrew Meade/iPolitics)
The Lead
The government announced its long-awaited national hydrogen strategy on Wednesday, which it says will create 350,000 jobs and help Canada reach net-zero emissions by 2050. Although no new federal spending was attached to the strategy’s release, the government recently announced $1.5 billion for low-carbon fuels, including hydrogen, which will contribute to the costs of this new hydrogen plan.
Natural Resources Minister Seamus O’Regan said $5 billion to $7 billion is needed to adequately develop the hydrogen industry.
“Hydrogen’s moment has come,” he said yesterday. “The economic and environmental opportunities for our workers and communities are real. There is global momentum, and Canada is harnessing it.”