Oil and gas group calls for repeal of federal climate policies

OIL & GAS: An oil and gas industry trade group calls on President-elect Donald Trump to dismantle a range of federal efforts to fight climate change, including vehicle emissions standards, fees on methane emissions, and a permitting pause on liquified natural gas export facilities. (Reuters)

ALSO:

• Meanwhile, Exxon CEO Darren Woods urges Trump not to abandon U.S. climate leadership, saying that changes to federal tax incentives could hurt the companies’ investments in carbon capture technologies. (CNBC)
• Global carbon dioxide emissions from fossil fuels are on track to reach a record 37.4 billion metric tons in 2024, researchers find. (New York Times)
• A fossil fuel group is recruiting Western U.S. tribes to join an effort to increase production of natural gas for export to Asia. (Floodlight)

CLIMATE: ​“We may have less to offer”: U.S. negotiators at the annual COP29 climate conference face a diminished role as a second Trump presidency clouds any commitments the country might make. (Grist)

OFFSHORE WIND: Experts say Trump can’t end offshore wind ​“on day one” as he has vowed to do, but he will be able to cause plenty of trouble for the nascent industry. (Canary Media)

RENEWABLES: Even if the Inflation Reduction Act survives, renewable developers face project financing risks from inflation and rising interest rates if Trump follows through on promised tariffs and mass deportations. (Heatmap)

BUILDINGS: Advocates expect building owners ​“will be talking with their senators and representatives” to try to preserve federal tax incentives for energy efficiency and electrification. (Utility Dive)

NATURAL GAS: Renewable natural gas is not a viable alternative to other fossil fuels as Rhode Island considers how to transition toward cleaner energy, several stakeholders say. (Energy News Network)

TRANSPORTATION: California advocates push back on recent changes to the state’s low carbon fuel standards, saying they could increase gasoline prices without reducing emissions. (Canary Media)

ELECTRIC VEHICLES:

• Rivian and Volkswagen finalize their $5.8 billion joint venture to develop electric vehicle software that will be used in models made at Rivian’s planned Georgia plant and Volkswagen’s Tennessee factory. (New York Times; Atlanta Journal-Constitution, subscription; Chattanooga Times Free Press)
• The outcome of the presidential election raises questions about the budding electric vehicle supply chain, as some speculate Donald Trump may ease mining restrictions for materials used in batteries while others point to his criticism of the EV industry. (E&E News)

BATTERIES:

• Trump’s threats to raise tariffs on imported battery materials could chill near-term energy storage investments in the U.S., analysts say. (Utility Dive) 
• Electric vehicle startup Rivian inks a five-year battery supply agreement with LG Energy Solution that will be used in the automaker’s R2 model set to hit the market in early 2026. (Utility Dive)

COMMENTARY:

• Consumers who want to take advantage of federal tax credits for things such as electric vehicles, heat pumps and more may want to consider doing so before Trump takes office. (Washington Post)
• A Washington state advocate says voters upheld the state’s landmark climate law because it protects the environment and benefits the economy. (Energy News Network)