Trump administration report warns of financial risks from climate change

CLIMATE: A report commissioned by Trump administration appointees warns that ​“frequent and devastating shocks” from climate change threaten U.S. financial markets, but also warns of impacts from transitioning away from fossil fuels too quickly. (New York Times)

ALSO:
• Calling himself ​“the great environmentalist,” President Trump tries to recast his record as voters become more concerned about climate change. (Los Angeles Times)
• States and cities are seeking stimulus funds to help support climate initiatives they’ve taken on in the absence of federal leadership. (InsideClimate News)
• California Gov. Gavin Newsom says he has ​“no patience for climate change deniers” and the state will continue to pursue policies that combat climate change as it deals with historic wildfires. (Politico)

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COAL:
• Democrats criticize the inclusion of $161 million in funds for the coal industry in a proposed coronavirus relief package. (The Hill)
• Wyoming Gov. Mark Gordon says the state having regulatory primacy over its carbon dioxide injection wells will help keep coal-fired power plants operating and coal miners employed. (Casper Star-Tribune)

OIL & GAS:
• President Trump signs an executive order reinstating an Obama-era moratorium on oil drilling off the coasts of Florida, Georgia, and South Carolina, a move critics described as a self-serving campaign ploy. (Post and Courier, Tampa Bay Times)
• A coalition of more than 40 groups urges the federal government to provide coronavirus protection for oil and gas workers. (The Hill)
• Natural gas, much like coal before it, is falling out of favor with everyone from regulators to asset managers amid rapid changes in public opinion. (Bloomberg)

ELECTRIC VEHICLES: General Motors announces a deal giving it a $2 billion stake in electric truck maker Nikola that will eventually reduce costs for both companies and help GM commercialize its EV technology. (Detroit Free Press)

SOLAR:
• A Vermont solar developer worries that a decade-long boom may be ending as state and federal support begins to shrink. (Energy News Network)
• A Montana Supreme Court ruling that regulators violated renewable energy law when dealing with solar has stopped many projects previously under development in the state. (Billings Gazette)

EFFICIENCY: An assistant professor at Virginia Tech discusses the importance of designing energy efficient buildings that align with people’s needs. (Energy News Network)

GRID: The president of California’s grid operator says its problems are the result of ​“operating too close to the margin” with no room for error. (Los Angeles Times)

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UTILITIES:
• Performance-based regulation is one of the leading trends in utility commission proceedings this year. (Greentech Media)
• Connecticut utilities warn that a proposed requirement to fix outages within three days would ​“have devastating cost impacts on customers.” (CT Mirror)

COMMENTARY:
• A columnist who covered California’s deregulation crisis in the 2000s says renewable energy is the solution to the state’s grid issues. (Forbes)
• A company that certifies energy efficient homes says that even without tax credits, solar is still a smart investment for homeowners (Energy News Network, sponsored)