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US president Donald Trump will make good on a pledge to pull the US out of the Paris Agreement and should steer US states away from carbon pricing policies to keep them competitive, according to Myron Ebell, a former member of Trump’s transition team.
Australia’s refusal to impose carbon regulations on energy generators means nearly half the nation’s CO2 cuts must be imposed on industry through the Safeguard Mechanism.
EU carbon prices climbed back above €5 on Monday in quiet trade as power prices turned upwards after a week of declines, encouraging speculators that utilities would return to the buyside.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
Don’t mention the ‘C’ word, Chuck – A diplomatic row is brewing between Prince Charles and Donald Trump, as the latter is set to make a trip to the UK. Charles is likely to bring up the subject of climate change, say royal aides, which Trump’s inner circle have warned will be counterproductive, and that Trump could “erupt” if pushed. Several government figures say that Charles is now one of the key “risk factors” for the visit. (Carbon Brief)
Everything’s ruined – California’s top air regulator says ($) that if the Trump administration or Congress succeeds in blocking the state’s ability to enforce its current vehicle GHG standards or adopt future rules, such a move would “destroy” the state’s sweeping regulatory plan to meet its 2030 GHG target. The proposed regulatory “scoping” plan features California’s cap-and-trade program as its centerpiece, but it also includes planned and existing climate rules for a host of sectors, including the vehicle GHG standards. (InsideEPA/Climate)
Aramco’s personal shoppers – Saudi Aramco, the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, according to people with knowledge of the matter, Bloomberg reports. Banks including HSBC, JPMorgan and Credit Suisse have been invited to pitch for a role helping Aramco identify potential acquisition targets and advising on deals, the people said, asking not to be identified as the information is private. The energy company is seeking to bring foreign expertise in renewable energy into the kingdom, the people said, adding that first investments under the plan could occur this year.
Ban ’em – UK ministers should ban coal power stations from a scheme paying their owners subsidies to provide backup power, according to Scottish Power and RenewableUK. The pair said it was an “obvious paradox” and “counterproductive” that the government had committed to closing all coal power stations by 2025 while continuing to support them through the capacity market, its system for ensuring power when supplies are low. (The Guardian)
Nice ride – Mitsubishi will this summer ship 635 Outlander PHEV hybrid SUVs to Ukraine’s national police under deal signed several years ago with Japan, which bought Ukrainian AAUs in exchange for cash that Kiev agreed to spend on new Japanese cars. Japan signed a similar deal with Estonia that lead to the delivery of 507 Mitsubishi electric cars.
And finally… Tillerson and the kids – US Secretary of State nominee Rex Tillerson won’t have to immediately answer questions under oath from attorneys representing teenagers who claim the US government failed to protect the environment from global warming after a federal judge rejected the move. However, the judge left open the possibility that lawyers could subpoena oil giant Exxon’s former CEO after he’s confirmed as the nation’s top diplomat. (Bloomberg)
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