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Forbes - Policy

Tax Breaks: The Tax Law Is Having A Constitutional Moment Edition Anxiety Over Social Security Benefits Grows As Funding Cliff Looms Trump Backs Off On E.U. Auto Tariffs But Risks Remain For Buyers, Ports Goal Of Zero Tolerance Of Sexual Abuse In Prison Vs Reality: GAO Report Here’s Where Jobs are Growing And Shrinking In Today’s Economy Scams Are Booming. The Latest Numbers, And How To Protect Yourself What To Know About Trump’s Latest Tariffs Being Struck Down Social Media Age Minimums: Bad For Kids, Parents, And Governments Best Places To Retire In 2026: 25 Surprisingly Affordable U.S. Spots Sorry, Spirit Airlines—Government Has No Business Owning Businesses Supreme Court Says Nonprofits Can Challenge Government Requests For Donor Information Quality Time Is A Copout. Politicians Are Trying To Make It Dangerous Why President Trump Should Bring Home Political Prisoners From China Why You Shouldn’t Trust AI With Your U.S. Immigration Future Germany Wants Cheaper Drugs—And Americans To Pay The Difference Why Gold’s Safe-Haven Trade Is Breaking Down During War Citadel Considers NYC Exit Amid Ken Griffin– Zohran Mamdani Tax Clash U.S. Trade Deficit Falls To Lowest Level Since First Quarter Of 2020 Russian Dissident Art Is Back On View In New York (Not Moscow) Union Pacific’s Acquisition Of Norfolk Southern Is About Life & Death World Cup Tipping Practices Could Undercut ‘No Tax On Tips’ Break Your Heart Depends On The World Around It Planning For The End Of The Oil Age Can You Sue A Drug Company For Not Inventing Faster? The Fed As Inflation Fighter Is Rooted In Phillips Curve Mysticism Seven Ways Social Security Benefits Are Unfair KPMG Cuts Jobs As Advisory Demand Slows And Federal Audit Work Winds Down Democrats And Republicans Near Discharge Petition For Ukraine Aid Record $125 Million Gift To Case Western Boosts Humanities In AI Age Anthropic’s Claude Mythos Reduces Export Controls To Blind Projections Taxpayers Fighting The IRS Over Pandemic Era Tax Credit Get A New Option Kevin Warsh Must Turn The Fed Upside Down When He Replaces Jerome Powell Virginia Showed Washington How To Cut Regulations. Now Its Reforms Are At Risk. The Trump Administration Is Shifting Federal Policy On Cannabis And Psychedelics Treasury To Require More Reporting And Paperwork From Tax-Exempts The Sphere Is A Visual Rebuttal Of Live Nation’s Critics The Quickest Way To End The Iran War Is To Resume Hostilities Orban’s Populism Followed The Info Wars Script We See Everywhere Over A Million Road Crash Deaths Annually Prompt $350 Million Investment Plug-In Power Signals An Energy Future Very Different From The Present Using AI To Find Hidden Geothermal Power Aren’t We Making Too Big Of A Deal About The Fed’s Balance Sheet? Fed Meeting Tracker 2026: How Interest Rate Shifts Shape Investor Strategy Trump Fired The Entire National Science Board. Here's Why That Matters How Japan’s Bond Market Affects Your Portfolio and Global Markets | June 2026 Edition Surprise: You May Be Owed An IRS Refund For Payments Made During The Pandemic Why The Trump Administration Shouldn’t Bail Out Spirit Airlines U.S. Soybean Exports In 2026 Show 27% Increase After Abysmal 2025 AI Takes The Stand: The New Frontier In White-Collar Evidence IRS Enforcement Takes Another Big Hit As Budget Request Shrinks Immigration Reality Check: Enforcement Has Its Limits Blackberry’s Demise Reminds Us Of The Dangers Of Export Controls Democrats Didn’t Discover The Insurance Crisis. They Created It Why Aren’t Republicans Making Tax Cuts A Huge Issue? Canada Responsible For Record 61% Of U.S. Oil Imports. Why It Matters. Section 127 Plans: A Tax-Smart Way To Pay For Education Or Student Loans A Nonprofit Alaskan Cruise Line Turns Tourism Into A Conservation Blueprint Obamacare Crushed Choice. This Reform Helps Restore It The Problem With Kevin Warsh Isn’t His Wealth, It’s His Wealth How HHS’s Administration For Children And Families Is Cutting Red Tape Fewer Returns, Bigger Refunds: What IRS Data Says About The 2026 Tax Season Reed Hastings’ Netflix Exit Calls For A Warner Bros. Discovery Rethink U.S. Midterm Inflation Tops Price Increases In Western Europe Making Employer Health Plans More Flexible and Transparent The Overwhelming Absurdity Of The Jury Verdict Against Live Nation Mamdani’s Municipal Grocery Stores Risk Making NYC’s Affordability Problem Worse As Gas Tops $4 Per Gallon, Congress Considers Lowering The Gas Tax Export Controls On China Will Hurt U.S. National Security, And U.S. AI Orban And Putin Will Try To Sabotage Magyar’s Victory In Hungary Elections Mailing A Last Minute Tax Return? Warning: The Postmark Rules Have Changed Illinois Merchants Accept Chaos In Return For Microscopic “Savings” The Real Risk For Leaders Isn’t Washington—It’s Overreacting Trump Hates Offshore Wind. Republicans Don’t Private Credit Similarly Couldn’t Care Less About The Federal Reserve 3 Things We Crave Make U.S. Air Cargo More Valuable Than Ocean Ocean IRS Issues New ‘No Tax On Tips’ Rules—Here’s Who Qualifies AI And Less Immigration Work Will Shift IRS Criminal Enforcement Shielding The Identity Of Child Victims: A Checklist For Federal Prosecutors Meet The Self-Made American Who Founded Forbes Topsy-Turvy Trade: Top U.S. Deficit With 3 Countries In Last 4 Months A New York Tax That Could Literally Cost The Lives Of Smokers Running Out Of Time Before Tax Day? An Extension Might Be Your Best Move Without Ticketmaster, There Are Much Fewer Concerts To Attend 11 Common Tax Filing Mistakes And How To Avoid Them Inflation Without Money Creation Lowering Healthcare Costs Without A Disastrous Government-Run Model Gold Set Monthly Record And Became Top U.S. Export, Latest Data Shows When The Boardroom Wakes Up To Climate Risk In Health Care IRS Expands Business Tax Account To Include More Kinds Of Entities Politicians Easily Forget That Miracles Aren’t Free Environmental Disaster Is Looming Thanks To ‘Renewable’ Energy Sources Can Trump End Birthright Citizenship? Supreme Court To Weigh In Moving To Crack Down On Microplastics What Canada’s Euthanasia Surge Reveals About Single-Payer Health Care The Strait Of Hormuz Couldn’t Care Less About The Federal Reserve How My Widowed 77-Year-Old Mom Lost Social Security Benefits For Five Months A Billionaire’s Pitch To Cut Power Bills Collides With California’s Real Costs Republicans Must Laser Focus On Passing Kudlow’s Economic Plan At 60 Feet Below The Surface, I Saw Why Ocean Health Is Human Health Elizabeth Warren’s Bold Plan To Tax The Ultra-Wealthy Sparks Debate
Warming Oceans, A Hot Year And ‘Elite’ Beliefs
Alan Ohnsman · 2026-04-20 · via Forbes - Policy

Current Climate brings you the latest news about the business of sustainability every Monday. Sign up to get it in your inbox.

Copyright 2026 The Associated Press. All rights reserved

Weather across the U.S. this year has pingponged from waves of intense cold and snow in the East Coast and Midwest, followed by sudden warming, to heavy rain and a record heatwave on the West Coast–which melted winter snow in the Sierras too fast and too early, ensuring less water flows to Los Angeles. Unfortunately, one of the trends that has been consistent is rising ocean temperatures.

Over the past few weeks, labs such as the European Union Copernicus Climate Change Service determined that the average surface temperature of global seas in March was 69.75 degrees Fahrenheit (20.97 Celsius), the second-highest level ever recorded. And in California, researchers at Scripps recently found that the typically chilly Pacific is also hotter, clocking in at 68.5 degrees, 7.7 degrees above the average for mid-April.

What those findings mean is that conditions are again ideal for El Niño: a climate pattern that drives up global surface temperatures. That makes it likely that 2026 will continue a streak of global heat records that’s persisted for over a decade, with each subsequent year being hotter than the one that preceded it. The National Oceanic and Atmospheric Administration said this month that March 2026 was the hottest on record in the contiguous United States, capping a 12-month period that was also the hottest ever.

The consistency of the data confirms that climate change is a fact of life. Along with general discomfort for humans, more heat means more stress on global agriculture and water systems, and costs to upgrade infrastructure to adapt to more intense weather.

As this unfolds, climate denialism is also on the rise in the U.S. as the Trump administration lobbies entities such as the International Monetary Fund and the World Bank to set aside climate-oriented policies and increase support for carbon-based energy projects. At recent meetings of those institutions, Treasury Secretary Scott Bessent argued that their focus should be on economic growth, trade and development. And when it comes to climate, “we cannot have these elite beliefs get in the way,” he said, according to the New York Times.

Setting aside that many would consider Bessent–a Yale graduate who’s worked in global finance for decades and has a net worth Forbes estimates to be $600 million–to be quite elite, it’s hard to understand how that term relates to efforts to curb planet-warming carbon pollution.

“The only reason for the observed warming are human activities, and the biggest of those activities are the emissions of heat-trapping gases from burning fossil fuels,” Katharine Hayhoe, a climate scientist at Texas Tech University, told the Times.

Wanting to do something to slow or change rising ocean and land temperatures so that humans, animals and plant life can continue to thrive is many things, but it’s not “elite.” It’s conservative in the most literal sense.


The Big Read

Getty Images

Urbanists Hate Cars. Should They Love Electric Robotaxis?

Modern promoters of urban living, sometimes called new urbanists, have a reputation for blaming the automobile for many of the ills of the modern city. Walking, cycling and mass transit are prized solutions, along with urban design patterns that favor them. While not universal, automisia, the fear and dislike of the private automobile and its effects, is a common theme.

As a result, the reaction of many urbanists to self-driving cars has been, “self-driving cars are still cars,” and as such they repeat the negatives of cars. They are also concerned about the threat robocars and other new transport forms pose to transit ridership, and thus the success and survival of transit.

This makes it interesting to consider the underlying reasons urbanists dislike cars, and how the arrival of the new technologies, in particular the electric robotaxi (along with the electric robovan, delivery robots and a few other tools) affect these issues.

It turns out the electric robotaxi removes many of these objections, though not all of them. This is particularly true when you have a fleet of vehicles of different types, including small 1-2 person urban “pods,” regular-sized cars, multi-person shared vans, and robots that can deliver goods and bicycles where they are wanted.

Read more here


Hot Topic

Wärtsilä Energy and Christoffer Björklund

Anders Lindberg, president of Finland’s Wärtsilä Energy, on how the Middle East war may impact the renewable energy transition

The war with Iran has brought a dramatic spike in oil and natural gas prices. Could it speed the shift to renewables as countries try to limit their exposure to fossil fuel price volatility?

The transition is already happening, and more and more solar and wind are installed every year. We have seen it increasing year by year. It's a little bit too early, maybe, to say what are the consequences of this war in the Middle East. But I think that if we draw conclusions from what happened in the last major disruption, which was not so long ago in Europe, namely when Russia invaded Ukraine, gas prices went up a lot. We can see that it had a positive effect on the acceleration of implementing energy security, which is renewables. If you did renewables, you’re not as dependent on gas imports from Russia. I think that we expect to see the same thing now. It will take a little time, but I think that we will see in the coming years an acceleration of renewables being implemented.

Short term, I think we will also see some coal increases because countries in Asia that have access to coal will replace the fossil fuels they don't get with coal, but that's a short-term effect. The more mid and long-term effect, I'm sure, will be an increase in renewables, speeding up the energy transition that we have already seen increasing year by year.

There’s been a big shift in U.S. federal policy toward renewables and a big push for fossil fuel energy production. How do you see that impacting the transition?

In the U.S., we see quite a lot of activity. Even in Texas, a very fossil fuel-oriented state, we see they have more wind–I think it also surpassed California this year in solar. But there is a lot of wind and solar in Texas. Then, of course, there’s the wind belt north of Texas, where we see a lot of wind being installed. Obviously, in California, we see a lot of solar as well as wind. I think we definitely see the U.S. transition continuing despite the political agenda. It is also a big market for us because we sell flexibility in the system, and that is needed when you install renewables. … Flexible engine power and turbines.

Definitely, we can see that in countries where you have installed a higher level of renewables, we also see the need for flexibility in the system, and that is flexibility with storage, which provides short-term flexibility, but also with engine power plants or gas turbine plants that provide longer flexibility that you need. This flexibility is, from our point of view, very important. You can say that there is no question about renewables coming along because of its being the cheapest form of energy. But what is very important here is: are the system and other sources of generation prepared for that? That's our point, that you need to provide flexibility in the system for the renewables to thrive and have good business cases and little curtailment, and also little volatility of prices that you have if you provide the flexibility. You also avoid blackouts in worst-case scenarios.

In some markets, such as Australia and Southern California, where sunlight is unusually abundant, do you need new gas plants or could you just rely on renewables and battery storage?

Theoretically, you can. We have done a study, which we call “Crossroads To Net Zero,” published in 2024. You take the whole globe, and you look at all the power generation, and you want to achieve net zero in 2050. The first way we did this was exactly as you say. We only used solar, wind and battery storage. In the second alternative, we looked at, you do the same, but you add flexible engine power plants to it. What we saw when we did that was that we had a $65 trillion higher cost in alternative one when you only used renewables or battery storage. That’s because you need to overpopulate it so much to handle when it's cloudy or when it's not windy. For example, in Germany, there are periods where you have very little sun in the winter, and at the same time, no wind. So on a global scale, it's a $65 trillion difference. What is interesting is that it's not only the money that you overspend if you only do it with battery storage and renewables, you also have 21% less emissions in alternative two.

And the reason for that is that you can implement it much faster because you need to overbuild as much of the renewables and the storage. And you will also have 88% less curtailment or wasted energy if you do alternative two than alternative one. The reason is, again, if you overbuild it for handling this situation when you have too little wind or too little sun, then when you have sun and wind, you will actually overproduce more than you can use. It's an 88% difference in that. That's a huge difference. So you can do what you said, use only renewables, but it's not the best and optimal solution.


What Else We’re Reading

China weighs curbs on exports of solar manufacturing equipment to U.S. (Reuters)

U.S. Senate votes to end ban on mining near Minnesota’s Boundary Waters (Star Tribune)

Carbon-capture hub gets a surprise lifeline from the Trump administration (Wall Street Journal)

Delta quietly waters down its plan to hit net-zero carbon emissions to an ‘aspiration’ (Bloomberg)

Methane, a gas that causes climate change, is bubbling out of California reservoirs (Los Angeles Times)


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