This Week in Cleantech is a weekly podcast covering the most impactful stories in clean energy and climate in 15 minutes or less featuring John Engel and Paul Gerke of Factor This and Tigercomm’s Mike Casey.
This week’s episode features Lisa Martine Jenkins from Latitude Media, who wrote about how Trump’s tariffs will complicate the U.S. energy supply chain.
This week’s “Cleantecher of the Week” is Dhruv Patel, COO of Renewable Energy at McCarthy. He celebrated National Energy Efficiency Day with his team at McCarthy on Wednesday and shared his experience on LinkedIn with the quote, “But what really sticks with me isn’t just the megawatts we build—it’s the impact we leave behind.”
1. Justin Peterson, The D.C. Power Broker Embroiled in a Global Hacking Scandal — The Wall Street Journal
In 2015, Justin Peterson, a D.C. lobbyist who has worked for Exxon Mobil, met with Israeli private investigator Amit Forlit and initiated what prosecutors call “Operation Fox Hunt.” The goal was to uncover damaging information on environmentalists and Exxon’s critics through hacking. While Peterson hasn’t been charged, court documents obtained by The Wall Street Journal detail his alleged involvement in commissioning the operation.
The documents are part of a U.S. criminal case against Forlit, who was arrested in London and is facing extradition to the U.S. for conspiracy to commit wire fraud and computer hacking. The documents allege that Forlit’s work for Peterson’s firm, DCI Group, involved hackers based in India and included illegal breaches of private email accounts. Leaked information was then shared with Exxon and the press, and Exxon later referenced these leaks in court proceedings. The documents say that Peterson’s DCI paid Forlit’s firms $16 million for the services.
2. Tumbling Tesla Shares Leave Investors Bracing for More Losses — Bloomberg
Tesla is having a rough year. The stock is down about 40% from its late 2024 high, with a 17% decline just this week. Sales have slowed, particularly in Europe where they were down nearly 50% compared to last January. Tesla’s market value fell below $1 trillion for the first time since November when the stock soared after the U.S. presidential election locked in their EV advantage relative to legacy U.S. automakers. In January, the company reported weak fourth-quarter delivery numbers and the first annual drop in sales in over a decade.
The piece notes that the stock is already highly valued relative to earnings. Tesla shares trade at 92 times forward earnings, compared to an average of 28 times forward earnings for Tesla’s mega-cap peers.
3. Column: Time for California to get serious about cheaper, cleaner energy — LA Times
In this column, Sammy Roth calls out what he sees as a failure of California’s politicians to address both rising electricity rates and the need to phase out oil and gas from the state’s economy. He notes that the two are connected: cheaper electricity will get people to switch to EVs and heat pumps faster.
Residential electricity rates rose 47% in the state just between 2019 and 2023. Environmental groups blame the profit-seeking utilities. The cost of wildfire mitigation efforts like burying power lines is part of the picture. Some state officials and utility companies point the finger at rooftop solar.
4. Zero: Why (Almost) Everyone Hates ESG Right Now — Bloomberg
Europe-based reporter Fran Schwartzkopff explains that back in 1929, there were little to no regulations for how companies reported their earnings across the globe. This lack of oversight led to unreliable reporting, which partially fueled the Great Depression. After that, financial reporting became standardized mostly in the U.S.
Then, ESG, or nonfinancial reporting, emerged decades later as a response to companies being exposed for unethical practices. However, there is little formal rulemaking on ESG in the U.S., leaving it largely up to companies to define and implement their own standards. Over time, ESG became politicized, aggressively framed by fossil fuel interests as a push from the “woke left.”
5. Tariff havoc begins, complicating energy supply chains — Latitude Media
New tariffs on Canada, China, and Mexico, which were paused yesterday, could disrupt energy supply chains and rattle markets. The tariffs, 25% on Canada and Mexico and an additional 10% on China, impact key energy materials and equipment, raising concerns about higher consumer energy prices. Ontario has threatened retaliatory measures, including a 25% export tax on electricity to the U.S.
Experts warn that these tariffs, combined with potential IRA rollbacks, could weaken the U.S. clean energy industry. The fossil fuel and auto sectors are also vulnerable. Supply chain disruptions for steel and electrical transformers could threaten grid reliability amid growing electricity demand.
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