In the past decade, wind power capacity has tripled, and it’s projected to double in the decades to come. Wind is now America’s top renewable source of electricity generation, and the domestic offshore industry is finally taking off, as major manufacturers debut ever larger and more powerful turbines. While the industry faces some challenges with permitting, public opposition from various interest groups, and the obvious intermittency issues, there’s no doubt that wind is poised to play a major role in the energy transition. The question is just how fast it will grow.
Tag Archives: CNBC Videos
Analysis: ‘What Is The Paris Club Of 22 Countries?’
The Paris Club, comprising 22 wealthy countries, provides a platform for governments facing financial difficulties to reduce and renegotiate their debt repayments. Formed in 1956, it has signed more than 400 agreements to date, worth more than half a trillion dollars to about 100 countries. As public debt soars in the wake of the pandemic, CNBC’s Timothyna Duncan breaks down how this exclusive club functions and the challenges it faces to stay relevant.
Analysis: ‘Why U.S. Malls Are Disappearing’ (Video)
Shopping malls in the U.S. were already in decline before the Covid-19 pandemic as consumers shifted away from traditional brick-and-mortar stores to e-commerce. The outbreak has only exacerbated the challenges at malls as social distancing has placed restrictions on stores, movie theaters and restaurants.
So what will become of malls in America after the pandemic ends? Shopping malls across the U.S. have been reeling as restaurant and retail tenants struggle to keep their doors open. Data compiled by Coresight Research shows about a quarter of U.S. malls could close over the next three to five years, accelerating a trend that began before the pandemic.
Simon Property Group — the nation’s biggest mall owner — said earlier this month that its fourth-quarter revenue dropped by 24% on a year-over-year basis to $1.1 billion. However, some analysts think Simon — with its portfolio of A-rated malls and a healthy balance sheet — will benefit as distressed malls operated by its rivals close their doors. The company is also expected to see gains from new additions like hotels and luxury residences.
“Unfortunately there are a lot of centers that don’t fit that high profile and that have lost their competitive edge,” said Piper Sandler analyst Alexander Goldfarb. “The thing about Simon is they’ve been really focused on maintaining it, and that’s both been through a combination of culling the lower productive centers as well as making sure that they keep investing in their top centers.”
Simon Property Group CEO David Simon said the company is also getting a lift from increasing traffic at some of its locations and from tenants paying their rent on time. Malls are a big tax driver for the communities they serve and employ lots of people locally. Watch the video above to find out more about the struggles U.S. malls face and what could become of them after the pandemic ends.
Climate Change: The Challenges For Carbon Capture Technologies
Elon Musk, Microsoft and oil giants like BP, Occidental and Exxon Mobil are investing in carbon capture technologies. Carbon Engineering and Climeworks are two start-ups that have built machines to suck CO2 straight out of the atmosphere in a process known as direct air capture. But the technology faces a number of challenges, one of which is that there’s currently no market for the captured CO2. As a result, some companies are selling their captured CO2 to oil companies, which use it to produce even more oil.
Retirement: How To Get To $75K/Yr In Passive Income
If you can save enough money now, you can fund your retirement by living off of your returns without draining your nest egg. Luckily, with time and dedication, you can make it happen. The official retirement age for most Americans is 67 years old. But that number largely matters for Social Security benefits. If you want to retire early, however, you will need a plan that relies primarily on your own savings and investments. CNBC crunched the numbers, and we can tell you how much you need to save now to safely get $75,000 of passive income every year in retirement. First, some ground rules. The numbers assume you will retire at 45, have no money in savings now and plan to save a substantial amount of income to reach your goal. For investing, we assume an annual 4% return when you are saving. We do not factor in inflation, taxes or any additional income you may get from Social Security and your 401(k). In retirement, we use the “4% rule,” which is a general principle that says you can comfortably withdraw 4% of your portfolio every year. It is important to note with the recent market volatility, there is a risk you’ll have to lower your spending percentage in the future. Check out this video to get a full breakdown of the numbers.
Analysis: Rise Of 7-Eleven Convenience Stores
7-Eleven, home of the 64-ounce Double Gulp and the Pina Colada Slurpee, has helped revolutionize the way we shop at convenience stores. In March 2019, the 90-year-old brand launched its first Evolution Store. Featuring fresh food options and specialty alcohol, the new store concept is aimed at a new generation of consumers. And with consumer behavior changing due to Covid-19, the convenience store industry could be on the verge of a profound change.
Defense: ‘Future Of The Aircraft Carrier’ (Video)
Expensive, massive and lethal, the aircraft carrier has been the cornerstone of American security for close to a century, but with advances in missile design, will it remain on top? Aircraft carriers are expensive. The latest carrier in the U.S. Navy, part of what’s called the Ford class, costs $12.8 billion per ship, and that’s before the cost of fixing new technology, aircraft flying off the deck and the cost of operating the carrier in the high seas for months at a time. The U.S. has more active aircraft carriers than every other country in the world combined. The U.S. Navy currently has ten Nimitz-class carriers, one Ford-class carrier and nine amphibious assault ships, which are smaller and focus on helicopters and short takeoff and vertical landing aircraft. A Nimitz-class carrier can carry a mix of F/A-18E/F Super Hornets, E-2D Hawkeye surveillance aircraft and an assortment of other support aircraft and helicopters. The carrier fighter of the future is the F-35C. But to field the new aircraft, most U.S. carriers will need to be upgraded.
Investigation: Why The Emergency ‘911 System’ Is Broken’ (CNBC Video)
More than 80% of calls to 911 come from a cellphone and often from a high-rise. But the over 5,000 locally run 911 centers, or public safety answering points (PSAP) aren’t easily able to track those callers. Fixing the system could save more than 10,000 lives and $97 billion per year according to the FCC.
Major companies like Apple, Google, Motorola and startups like RapidSOS have tried to fill the technology gap, but so far, that’s not enough. Watch the video to understand the conundrum of a large and fragmented national system that is run and funded locally, and how the federal government may be its only hope for a complete overhaul. “We’re talking about diversity of equipment connecting across these IP networks in a very complex manner,” said Capt. Mel Maier of the Oakland County Sheriff’s Office in Michigan.
“And if there are proprietary interfaces anywhere in between there, they’re not going to be able to talk. … Our technology is continually trying to catch up and playing catch up.” A number of companies including Apple, Motorola and start-ups are trying to fill the technology gap. RapidSOS is a data integration platform that has been adopted free of charge in about 4,800 PSAPs. According to the company, it covers about 92% of the country and assists in 150 million emergencies per year.
“We’re just scratching the surface of the amount of data that we could be using,” said Michael Martin, CEO of RapidSOS. “We’re passing precise location for most 911 calls now. But you can imagine all the capabilities, like in a fire if your building could talk or if your device could detect a heart attack and immediately transmit that through.” According to Maier, who is also chairman of the Public Safety Next Generation 9-1-1 Coalition, the tech industry can’t do it on its own.
He says carriers also have a responsibility, especially when it comes to addressing the altitude problem. But in the end, he says, the federal government is needed. He’s hoping Congress will pass legislation for $15 billion toward a complete overhaul. In July, a $1.5 trillion infrastructure bill that included $12 billion toward 911 passed the House but stalled in the Senate.
Inside Views: ‘The Money Behind Professional Poker Players’ (Video)
Poker is a game of extreme variance. Professional poker players can go stretches without winning or placing at a level that earns any cash. The wins, however, can make up for the droughts with players earning thousands to millions of dollars depending on the game or tournament entered. Considering poker is an inconsistent sport, players look to offset the risk involved. This is done through staking, where an “investor” will pay a player’s way through tournaments for a piece of the action.
Analysis: Can ‘Restoration Hardware – RH’ Become A Global Luxury Brand?
COVID-19 has dealt a harsh blow to countless retailers, many of which were already struggling. However, RH, formerly Restoration Hardware, is doing rather well. The company’s stock price had cratered in March 2020 and struggled in early April, as forced lockdowns endangered retail. But by December 2020, shares had rebounded and risen more than 110 percent since the beginning of the year. RH is now ambitiously trying to turn it into a global luxury brand providing an array of services.
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