• The Department of Agriculture has finalized a plan to reinstate road-building and logging restrictions on the Tongass National Forest, the country’s largest national forest in southeast Alaska, despite decades of pushback from state political leaders who believe the restrictions limit jobs, renewable energy resources and tourism opportunities. The restrictions will take effect on Friday after being published in the Federal Register. (The Associated Press)
• Tesla Inc. plans to expand production at its Berlin and Austin plants to increase the company’s battery production while cutting costs across the board, including parts and logistics, executives said in a fourth-quarter earnings call, as Chief Executive Elon Musk looks to reshape the company’s cost base in preparation for what he called a “serious” recession. (Reuters) The company reported record fourth-quarter revenue of $24.3 billion. (CNBC)
• Akio Toyoda, head of Toyota Motor Corp., will step down as CEO and become chairman of the company on April 1, as the company is under investor pressure to embrace the shift toward electric vehicles. Koji Sato, president of the company’s luxury brand Lexus, will succeed Toyoda. (Reuters)

Happening today

• The United States Energy Association is holding its 19th Annual State of the Energy Industry Forum in Washington. D.C.

Clean Energy Sets $1.1 Trillion Record That’s Bound to Be Broken

Bloomberg

Meet the man who unwittingly triggered the war over gas stoves

Maxine Joselow, The Washington Post

The son of a labor icon, Richard Trumka Jr. warned that gas ranges could harm children’s health. He’s since been swept up in the backlash against regulating gas appliances.

House Democrats launch sustainable investing caucus

Saul Elbein, The Hill

A group of House Democrats is forming a caucus to advocate for sustainable investing — a rapidly growing sector that already accounts for trillions in global investment.

Amid Rising Emissions, Could Congressional Republicans Help the US Reach Its Climate Targets?

Emma Ricketts and Grant Schwab, Inside Climate News

Key House committee chairmen say they are concerned about the threat of climate change, but focus more on removing carbon from the atmosphere than on reducing emissions from fossil fuels.

Biden vowed to punish Saudis over oil cut. That’s no longer the plan.

Missy Ryan, The Washington Post

Administration officials now point to intensified opposition in Congress as a chief outcome of OPEC’s decision to slash output ahead of last year’s midterm elections.

The Trump rules still vexing Biden

Robin Bravender, E&E News

The Biden administration took office with the promise of demolishing Trump-era environmental policies in favor of more stringent rules.

Republicans launch newest fight against Biden’s oil drawdowns

Josh Siegel, Politico

A bill to limit releases from the Strategic Petroleum Reserve seeks to blunt the political gains that Democrats have gained from lower gasoline prices.

Meet the top House recipients of oil and gas money

Scott Waldman, E&E News

The oil and gas industry donated millions of dollars to members of the House in the last election cycle. Now, many of the top recipients are well-positioned to advance its interests.

Bill to withdraw Virginia from carbon-trading program dies in state committee

Zack Budryk, The Hill

A committee of the Virginia Senate on Tuesday defeated a bill backed by Gov. Glenn Youngkin (R) that would withdraw the state from a regional carbon-trading initiative.

A top Senate Republican promotes climate conspiracy theory

Scott Waldman, E&E News

One of the Senate’s top Republicans is pushing a debunked conspiracy theory that Russian President Vladimir Putin is funding U.S. environmental groups.

EPA plans to stop 6 power plants from dumping toxic coal ash into unlined ponds

Ella Nilsen, CNN

The Environmental Protection Agency on Wednesday announced it plans to stop six coal-fired power plants from continuing to dump coal ash – a toxic byproduct of coal-fired electricity – into unlined ponds.

Climate Change May Usher in a New Era of Trade Wars

Ana Swanson, The New York Times

Countries are pursuing new solutions to try to mitigate climate change. More trade fights are likely to come hand in hand.

Tired of being told to ‘adapt,’ an Indigenous community wrote its own climate action plan

Carly Graf, Grist

On the Flathead Reservation, a “living document” speaks to thousands of years of history while facing new challenges.

Meet the former Tesla director who wants to pull carbon dioxide out of the air

Justine Calma, The Verge

After working to expand Tesla’s operations internationally, Douglas Chan is leading a similar effort at Swiss climate tech company Climeworks.

Texas heat-related deaths reached a two-decade high in 2022 amid extreme temperatures

Alex Nguyen and Erin Douglas, The Texas Tribune

A Texas Tribune analysis of state data found that at least 214 people in Texas were killed by heat last year, and a large portion of those deaths were likely migrants who died after crossing the border.

California flooding causes billions in economic losses, estimates show

Herb Scribner, Axios

The recent California flooding and severe weather led to $5 billion to $7 billion in total U.S. economic losses, according to new estimates from Moody’s.

Clean-energy push puts abandoned Philippine nuclear plant back in spotlight

Rebecca Tan and Jhesset O. Enano, The Washington Post

President Marcos looks to his father’s project, once dogged by scandal and safety concerns, as a solution to fossil-fuel challenges.

JFK Airport’s New Terminal One Gets a Solar Boost

Sri Taylor, Bloomberg

John F. Kennedy International Airport’s future terminal will add a rooftop array and integrated microgrid to help reduce its greenhouse gas emissions. 

$1 Trillion Green Investment Matches Fossil Fuels for First Time

David R. Baker, Bloomberg

World spent $1.1 trillion transitioning to clean power in 2022, same as amount spent producing oil and gas.

U.S., Europe Tussle Over Frenzy of Clean-Energy Subsidies

Phred Dvorak et al., The Wall Street Journal

EU competition chief calls U.S. legislation toxic and says the bloc is preparing a response.

Largest U.S. grid faces tight timeline to curb wind, solar delays

Anna Flavia Rochas, Reuters

PJM’s new interconnection reforms, approved by the Federal Energy Regulatory Commission (FERC) in November, are set to reduce the delays that are hampering wind and solar developers.

QCells’ head of market strategy on the company’s $2.5B expansion of US solar manufacturing

Diana DiGangi, Utility Dive

Scott Moskowitz, Qcells’ head of market strategy and public affairs, spoke with Utility Dive about supply and demand in the industry, and why the company is betting on the domestic supply chain.

Proposal calls for expansion of Maine’s offshore wind power

The Associated Press

Conservation and labor groups are making a big push for offshore wind power in Maine via a proposed law that would boost the state’s energy production.

Oil industry takes offshore fracking case to Supreme Court

Niina H. Farah, E&E News

The fossil fuel industry is asking the Supreme Court to resolve a legal battle over hydraulic fracturing off the California coast — a fight companies say carries “enormous practical and legal significance.”

Chevron pledges $75 bln for share buybacks as cash grows

Sabrina Valle, Reuters

Chevron Corp. on Wednesday said it would triple its budget for share buybacks to $75 billion, the oil industry’s most ambitious shareholder payouts to date, as high oil and gas prices pad profits.

Big Oil’s profits juggernaut on pace to slow but not stop

Justin Jacobs, Financial Times

Five western supermajors forecast to earn $150bn in 2023, down by a quarter from record year.

Biden granted more oil and gas drilling permits than Trump in his first 2 years in office

Ben Adler, Yahoo News

Data from the Bureau of Land Management shows that President Biden approved more oil and gas drilling permits in his first two years in office than former President Donald Trump.

Gasoline prices jump up again after declines

Rachel Frazin, The Hill

Gasoline prices are increasing once again, rising an average of about 40 cents over the past month.

Study: Car-focused decarbonization could require triple current lithium production

Zack Budryk, The Hill

Broad investment in mass transit and reduced reliance on cars could reduce the additional lithium required to transition to electric vehicles by 90 percent, according to research from the Climate and Community Project and the University of California, Davis.

EV Hype Overshadows Public Transit as a Climate Fix

Skylar Woodhouse and Saleha Mohsin, Bloomberg

The emphasis on zero-emission cars has frustrated public transportation advocates, who say that the US needs to focus on greener alternatives to driving.

Puerto Rico selects company to privatize power generation

Danica Coto, The Associated Press

Puerto Rico privatized its electricity production on Wednesday, selecting Genera PR to take over the operation and maintenance of state power generation units in the U.S. territory as part of an initial $22.5 million annual contract.

Number of grid interactive buildings worldwide expected to grow almost 13% annually: Guidehouse

Robert Walton, Utility Dive

Buildings capable of participating in demand response programs while hosting solar generation and battery storage will number more than 202 million in 2031, according to a new estimate.

Wisconsin governor takes total control of resources agency

Todd Richmond, The Associated Press

The board that regulates Wisconsin’s natural resources entered a new phase Wednesday, meeting for the first time with a majority of members appointed by Democratic Gov. Tony Evers after months of stonewalling by a Republican who refused to step down.

Climatarian? Regenivore? New diets take aim at climate change

Jennifer A. Kingson, Axios

Move over, locavores: A slew of new labels — from “climavore” to “reducetarian” — reflect the trend of people eating with sustainability in mind to reduce their climate “foodprint.”