"One of the largest utilities in the U.S. put $8 billion into a bet that natural gas would dominate American electricity much like coal had before. “We really consider this to be a growth play,” Tom Fanning, chief executive officer of Southern Co., said in an interview just five years ago ... . Gas looked to be on the verge of generational dominance at the time."
Economy & Business
"The accession of Amy Coney Barrett to the U.S. Supreme Court will cement a conservative majority that is likely to give polluting industries freer rein, limit the ability of citizens to sue, and call into question the very basis of the EPA to issue and enforce regulations."
"BP’s market value has fallen below 200p a share for the first time since 1994 with investor faith in the future of the oil industry shaken by the coronavirus pandemic."
"Automakers are gearing up for tough new vehicle emissions rules and policies favoring electric vehicles if Democratic presidential candidate Joe Biden wins the White House."
Amid the frenzy of Election 2020 comes a quieter development: The emergence of Big Climate money. Green groups and climate-focused fundraisers are now starting to take their place as major players alongside Big Oil as campaign contributors. The latest Reporter’s Toolbox suggests databases and other resources to help track climate (and other election) money.
"President Trump reversed himself on Friday, approving a package of wildfire disaster relief for California hours after officials from his administration had explained why the state should not receive the aid."
"A shuffle to the Environmental Protection Agency’s (EPA) independent board of science advisers will add a longtime consultant who has worked for the tobacco and chemicals industries while promoting a member listed as someone “not to pick” by the Union of Concerned Scientists to be the panel's chair."
"Thirty of the world’s largest asset owners, with portfolios worth a combined $5tn (£3.8tn), have committed to cutting the carbon emissions linked to companies they invest in by up to 29% within the next four years."
The narrative around the ocean should become a more hopeful one, argues former NOAA administrator Jane Lubchenco. As evidence at the Society of Environmental Journalists’ recent virtual conference, Lubchenco cites a top-level international analysis that suggests the ocean can play a positive role in everything from reducing climate change to securing the future of food. Find out more.
If oddsmakers are right and the Dems sweep the White House and both houses of Congress next month, one significant outcome could be the rollback of prominent Trump administration deregulatory moves. The latest TipSheet explains how an arcane law might make such reversals possible, and then spotlights half-a-dozen potentially vulnerable Trump regulatory actions.