illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: BP's future scenarios suggest a shift towards net-zero emissions by 2050, influenced by the Russian war in Ukraine
• This involves a significant reduction in fossil fuels and a rise in renewable energies. Two key projects, FORGE and Project RED, are demonstrating how oil and gas technology can be adapted for geothermal energy extraction (geothermal energy has many advantages)

🔭 The context: The FORGE project, funded by the U.S. Department of Energy, is experimenting with fracking technology to harness geothermal energy
• Project RED, a collaboration between Google and Fervo Energy, is supplying electricity through geothermal means, showcasing the potential for significant renewable energy contributions

🌍 Why it matters for the planet: These developments in geothermal energy are crucial for a carbon-free future
• Geothermal energy, being continuous and not intermittent like solar and wind, offers a reliable alternative to fossil fuels
• This aligns with global efforts to reduce carbon emissions and combat climate change

⏭️ What's next: The successful commercialization of these technologies could lead to a substantial increase in geothermal energy's contribution to the global energy mix

📈 One stat: Geothermal energy supplied the US with 3,700 MegaWatts in 2022, only 0.4% of the total supply, but it has the potential to supply up to 90,000 MW by 2050

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