Shift Key with Robinson Meyer and Jesse Jenkins

Tesla is now facing its worst crisis in years. Last week, CEO Elon Musk laid off the automaker’s roughly 500-person Supercharger team and what remained of its policy and new vehicle teams. Before that, it reported its first-quarter financial results — and they were even worse than the lackluster performance that investors were expecting. Already this year, Tesla has cut around 10% of its employees. Now Musk is promising that it will shift toward becoming an “AI” company. Does Tesla, long a stalwart of America’s EV transition, now pose a danger to it? On this week’s episode of Shift Key, Rob and Jesse discuss the automaker’s turn away from EVs, and why Musk’s decision to lay off the Supercharger team could throw the entire country’s EV transition off track. Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University.Mentioned:Previously on Shift Key: The U.S. Has a Tesla ProblemTesla’s Identity Crisis Gets HardcoreTesla’s Q1 2024 investor reportBloombergNEF on Superchargers’ profit potentialRob on how to make sense of Elon Musk’s wacky moves–This episode of Shift Key is sponsored by…Watershed's climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.Music for Shift Key is by Adam Kromelow.

One of the most important pieces of the Biden administration’s climate policy has arrived: On Thursday, the Environmental Protection Agency issued new rules restricting climate pollution from coal-fired plants and  natural gas plants that haven’t been built yet. The rules will eliminate more than a billion tons of greenhouse gas pollution by the middle of the century.They are the long-awaited “stick” in the Biden administration’s carrots-and-sticks climate policy. So how do the rules work? Why do they emphasize carbon capture so much? And is this the end of coal in America? On this special episode of Shift Key, Rob and Jesse dig into the regulations and why they matter to American climate policy. Shift Key is hosted by Robinson Meyer is founding executive editor of Heatmap, and Jesse Jenkins is a professor of energy systems engineering at Princeton University.Mentioned:The New EPA Power Plant Rules Are Out — and Could Change the Calculus for GasThe White House Also Has Some Transmission NewsThe EPA’s announcement of the new rulesMassachusetts v EPA (2005)West Virginia v EPA (2022)–This episode of Shift Key is sponsored by…KORE Power provides the commercial, industrial, and utility markets with functional solutions that advance the clean energy transition worldwide. KORE Power's technology and manufacturing capabilities provide direct access to next generation battery cells, energy storage systems that scale to grid+, EV power & infrastructure, and intuitive asset management to unlock energy strategies across a myriad of applications. Explore more at korepower.com.Watershed's climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.Music for Shift Key is by Adam Kromelow.

Jigar Shah might have more control over America’s new wave of industrial policy — not to mention its climate policy — than anyone not named Joe Biden. And he’s not even a Cabinet-level official. As director of the Department of Energy’s Loan Programs Office, which is akin to its in-house bank, Shah oversees how roughly $400 billion in lending authority will be spent. That money will help finance new EV factories, geothermal wells, carbon capture sites, and more.On this week’s episode, Rob sits down with Shah to discuss the philosophy that he brings to his role. When financing new projects — many of which are the first of their kind — how does he think about cash flow, about technological innovation, about risk? Robinson Meyer is executive editor of Heatmap News; Jesse Jenkins, an energy systems engineering professor at Princeton, is off this week. Mentioned: The Loan Programs Office: Building a Bridge to BankabilityThe Race to Spend the I.R.A.’s $100 Billion in Grants Has BegunEzra Klein’s theory of “everything-bagel liberalism”Rob on the questions swirling at one-time LPO beneficiary Tesla–This episode of Shift Key is sponsored by…KORE Power provides the commercial, industrial, and utility markets with functional solutions that advance the clean energy transition worldwide. KORE Power's technology and manufacturing capabilities provide direct access to next generation battery cells, energy storage systems that scale to grid+, EV power & infrastructure, and intuitive asset management to unlock energy strategies across a myriad of applications. Explore more at korepower.com.Watershed's climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.Music for Shift Key is by Adam Kromelow.

It isn’t just bad vibes: Electric vehicle sales are slumping in the United States. Fewer than 300,000 EVs were sold nationwide during the first three months of 2024 — although it could be more than 350,000, depending on how you count and whose data you trust. That’s a slight decline from last quarter at a time when EV sales need to be accelerating.What caused the slump, and what can be done about it? And could hybrids or plug-in hybrids help solve the problem? In this week’s episode, Rob and Jesse chat with Corey Cantor, an EV analyst at Bloomberg NEF. They talk about Tesla’s spiraling problems, whether Detroit can pull its EV strategy together, and whether plug-in hybrids can co-exist with a climate strategy. Shift Key is hosted by Robinson Meyer, executive editor of Heatmap, and Jesse Jenkins, a Princeton professor of energy systems engineering.Mentioned: BloombergNEF’s EV market outlook for Q1 2024Jesse’s 2023 story on the EV market’s bad vibesRob’s story on Tesla’s slumping Q1 salesRob asks: Is Tesla Even a Car Company, Anymore?Tesla Has Built a Charging Business to Be Taken SeriouslyReuters’ report on the Model 2’s cancellation–This episode of Shift Key is sponsored by…KORE Power provides the commercial, industrial, and utility markets with functional solutions that advance the clean energy transition worldwide. KORE Power's technology and manufacturing capabilities provide direct access to next generation battery cells, energy storage systems that scale to grid+, EV power & infrastructure, and intuitive asset management to unlock energy strategies across a myriad of applications. Explore more at korepower.com.Watershed's climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.Music for Shift Key is by Adam Kromelow.

Can capitalism solve climate change? Wrong question, argues the author and journalist Akshat Rathi: In fact, you can’t solve climate change without capitalism. Look around the world, as Rathi does in his new book Climate Capitalism, and he says you’ll find companies and leaders who are proving that cutting carbon emissions is not just possible, but also profitable. The venture capitalist Sophie Purdom, the founder of Planeteer Capital, spends her days looking for those profitable climate companies. She says that a newer, smarter generation of climate startups is on the way.In this week’s episode, recorded earlier this month live at Princeton University, Rob and Jesse host a special in-person conversation with Rathi and Purdom. They talk about the rise of Chinese EVs, what interest rates mean for the energy transition, and the proper role of policy in decarbonizing. Shift Key is hosted by Robinson Meyer, executive editor of Heatmap, and Jesse Jenkins, a Princeton professor of energy systems engineering.Mentioned: Akshat Rathi’s Climate CapitalismSightline ClimateMartin Wolf’s The Crisis of Democratic Capitalism–This episode of Shift Key is sponsored by…KORE Power provides the commercial, industrial, and utility markets with functional solutions that advance the clean energy transition worldwide. KORE Power's technology and manufacturing capabilities provide direct access to next generation battery cells, energy storage systems that scale to grid+, EV power & infrastructure, and intuitive asset management to unlock energy strategies across a myriad of applications. Explore more at korepower.com.Watershed's climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.Music for Shift Key is by Adam Kromelow.

Will the rise of machine learning and artificial intelligence break the climate system? In recent months, utilities and tech companies have argued that soaring use of AI will overwhelm electricity markets. Is that true — or is it a sales pitch meant to build more gas plants? And how much electricity do data centers and AI use today?In this week’s episode, Rob and Jesse talk to Jonathan Koomey, an independent researcher, lecturer, and entrepreneur who studies the energy impacts of the internet and information technology. We discuss why AI may not break the electricity system and the long history of anxiety over computing’s energy use. Shift Key is hosted by Robinson Meyer, executive editor of Heatmap, and Jesse Jenkins, a Princeton professor of energy systems engineering.Mentioned: Koomey’s paper on worldwide electricity use in data centers.Smart Everything: Will Intelligent Systems Reduce Resource Use?A 2017 estimate of the electricity intensity of internet data transmission.Meeting Growing Electricity Demand Without GasRMI report on previous forecasts of electricity demand.–This episode of Shift Key is sponsored by…KORE Power provides the commercial, industrial, and utility markets with functional solutions that advance the clean energy transition worldwide. KORE Power's technology and manufacturing capabilities provide direct access to next generation battery cells, energy storage systems that scale to grid+, EV power & infrastructure, and intuitive asset management to unlock energy strategies across a myriad of applications. Explore more at korepower.com.Watershed's climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.Music for Shift Key is by Adam Kromelow.

Radia is a $1 billion climate tech startup with an unusual pitch: It is trying to build the world’s largest airplane. Its proposed aircraft, the Radia Wind Runner, would be as long as a football field, nearly as wide as a New York city block, and capable of carrying 12 times the volume of a Boeing 747. Such a plane could ferry massive wind-turbine blades, unlocking what the company calls “gigawind” — the ability to build offshore-sized wind farms on land. In this week’s episode, Rob and Jesse talk to Radia’s chief executive officer, Mark Lundstrom. (Jesse’s consulting firm did some research for Radia while it was in stealth mode, in 2020 and 2023.) We discuss why the world needs a bigger plane, how such a new aircraft gets licensed, and why massive wind turbines could be such a big deal for renewable electricity. Shift Key is hosted by Robinson Meyer, executive editor of Heatmap, and Jesse Jenkins, a Princeton professor of energy systems engineering.Mentioned: The Wall Street Journal: How the World’s Biggest Plane Would Supersize Wind EnergyThe National Renewable Energy Laboratory’s report on why big turbines could unlock more wind energyHow big are offshore wind turbines? Really big.Jesse’s downshift, Jesse’s upshift.Rob’s downshift, Rob’s upshift. –This episode of Shift Key is sponsored by…Advanced Energy United educates, engages, and advocates for policies that allow our member companies to compete to power our economy with 100% clean energy, working with decision makers and energy market regulators to achieve this goal. Together, we are united in our mission to accelerate the transition to 100% clean energy in America. Learn more at advancedenergyunited.org/heatmap KORE Power provides the commercial, industrial, and utility markets with functional solutions that advance the clean energy transition worldwide. KORE Power's technology and manufacturing capabilities provide direct access to next generation battery cells, energy storage systems that scale to grid+, EV power & infrastructure, and intuitive asset management to unlock energy strategies across a myriad of applications. Explore more at korepower.com.Music for Shift Key is by Adam Kromelow.

Earlier this month, the electric-car maker Rivian announced its new SUV, the R2 — a $45,000 family hauler that will get more than 300 miles in range. It also debuted the R3 and R3X hatchbacks, which entranced online car nerds. These new Rivian models are sleek and important, but they won’t go on sale until 2026 at the earliest. Can Rivian last that long? In this week’s episode, Rob and Jesse discuss Rivian’s quest to survive, how electrification is changing car design, and the coolest EVs coming down the pike. Shift Key is hosted by Robinson Meyer, executive editor of Heatmap, and Jesse Jenkins, a Princeton professor of energy systems engineering.Mentioned:Look Closely at Rivian’s New SUV. You’ll See a Survival Strategy.Why 2024 Is a Make or Break Year for RivianRivian R2, R3, R3XHonda Crosstour1991 Toyota PreviaWhy Do Animals Keep Evolving into Crabs?Watch a Hyundai Ioniq 5N Lap the NürburgringDodge Charger Will Live on as an EV Jesse’s downshift, Rob’s downshift.Rob’s upshift, Jesse’s upshift.–This episode of Shift Key is sponsored by…Advanced Energy United educates, engages, and advocates for policies that allow our member companies to compete to power our economy with 100% clean energy, working with decision makers and energy market regulators to achieve this goal. Together, we are united in our mission to accelerate the transition to 100% clean energy in America. Learn more at advancedenergyunited.org/heatmap KORE Power provides the commercial, industrial, and utility markets with functional solutions that advance the clean energy transition worldwide. KORE Power's technology and manufacturing capabilities provide direct access to next generation battery cells, energy storage systems that scale to grid+, EV power & infrastructure, and intuitive asset management to unlock energy strategies across a myriad of applications. Explore more at korepower.com.Music for Shift Key is by Adam Kromelow.

Few people have shaped Bidenomics more than Brian Deese. From 2021 to 2023, Deese led the National Economic Council at the White House, serving as President Joe Biden’s top economic aide. He’s now an Innovation Fellow at MIT, where he helps lead the new Clean Investment Monitor project.In part two of Shift Key’s conversation with Deese, we discuss electric vehicles, the future of U.S.-China trade relations, and whether the Big Three automakers can survive. Shift Key is hosted by Heatmap Executive Editor Robinson Meyer and Princeton Professor Jesse Jenkins.Mentioned: The Clean Investment MonitorWhy Ford and GM Are Scared of China’s Electric CarsChina’s Electric Vehicles Are Going to Hit Detroit Like a Wrecking BallTrade Wars Are Class Wars, by Matthew C. Klein and Michael Pettis–This episode of Shift Key is sponsored by…Advanced Energy United educates, engages, and advocates for policies that allow our member companies to compete to power our economy with 100% clean energy, working with decision makers and energy market regulators to achieve this goal. Together, we are united in our mission to accelerate the transition to 100% clean energy in America. Learn more at advancedenergyunited.org/heatmap KORE Power provides the commercial, industrial, and utility markets with functional solutions that advance the clean energy transition worldwide. KORE Power's technology and manufacturing capabilities provide direct access to next generation battery cells, energy storage systems that scale to grid+, EV power & infrastructure, and intuitive asset management to unlock energy strategies across a myriad of applications. Explore more at korepower.com.Music for Shift Key is by Adam Kromelow.