• In a major blow to oil companies in California, Gov. Gavin Newsom (D) signed first-of-its-kind legislation aimed at penalizing companies for alleged price gouging at the pump. When the measure takes effect in about three months, a state agency will be tasked with establishing a maximum gross gasoline refining margin and setting penalties for any refineries in the state that surpass that margin. (The Hill)
• Rep. Richard Neal (D-Mass.) and Sen. Ron Wyden (D-Ore.) criticized the Biden administration’s recent trade deal with Japan, saying that Congress and the public should have been able to review the deal for supplies of critical minerals for electric vehicle batteries, according to a statement viewed by The New York Times. The lawmakers also said the deal did not include important protections for workers or the environment. (The New York Times)
• Electric vehicle company Lucid Group Inc. plans to cut 18% of its workforce, around 1,300 employees, in an effort to reduce costs amid a ramp up of its Air luxury sedan, according to a regulatory filing. The job cuts are part of a larger restructuring, and Chief Executive Peter Rawlinson said the cuts will hit “nearly every organization and level, including executives.” (CNBC)
• In a letter to President Joe Biden, House Speaker Kevin McCarthy (R-Calif.) proposed attaching measures to lower energy costs and “make America energy independent” to a debt ceiling bill, in an effort to pass expedited permitting provisions in exchange for raising the nation’s debt ceiling. (Bloomberg) 

Happening today

• The Wilson Center will host an event titled “America’s Energy Future” with Angelina LaRose, assistant administrator for energy analysis at the U.S. Energy Information Administration. 

Here’s How Much Top US Polluters Must Cut Methane to Avoid Fees

Bloomberg

House Republicans are chipping away at landmark climate law

Timothy Cama, E&E News

House Republicans are going after the Democrats’ landmark climate change law, but they’re picking a handful of provisions to target instead of a broad assault. Still, a senior Republican said the anti-Inflation Reduction Act campaign is only beginning.

Challenge to Biden ESG investing rule will stay in Texas court

Daniel Wiessner, Reuters

A federal judge in Texas on Tuesday refused to transfer to another court a lawsuit by Republican states challenging a Biden administration rule allowing socially conscious investing by retirement plans, rejecting claims of “judge shopping.”

Haaland, GOP clash over critical minerals, Green New Deal

Michael Doyle, E&E News

Former Interior Secretary Ryan Zinke and his fellow Republicans pointedly confronted current Interior Secretary Deb Haaland on energy production and critical minerals during a hearing Tuesday that showcased policy differences that could dominate the coming budget season.

Congressional Democrats call on EPA to tighten proposed soot standards

Zack Budryk, The Hill

More than 80 congressional Democrats, led by Sen. Ed Markey (D-Mass.), urged the Biden administration to strengthen proposed rules on soot pollution in a letter Tuesday.

US and EU Near Critical Minerals Accord to Unlock US Subsidies

Alberto Nardelli and Jorge Valero, Bloomberg

The European Union and the US are nearing an agreement on critical minerals that would provide EU companies access to some of the massive green subsidies offered in President Joe Biden’s Inflation Reduction Act. 

UN to vote whether world court should rule on climate obligations

Valerie Volcovici, Reuters

The United Nations General Assembly on Wednesday will vote whether to ask the world’s top court to define the obligations of states to combat climate change, a legal opinion that could drive countries to take stronger measures and clarify international law.

Baltimore mayor rejects request to process East Palestine wastewater

Stephen Neukam, The Hill

Baltimore Mayor Brandon Scott denied a request from a contractor to dump pretreated wastewater from the Norfolk Southern train derailment in East Palestine, Ohio, earlier this year, citing public health concerns.

Companies Urged to Take Stock of Their Impact on Nature and Related Risks

Joshua Kirby, The Wall Street Journal

A U.N.-funded task force aims to help businesses report and act on a variety of issues, including deforestation and overfarming.

A spill outside Philadelphia adds to the growing list of chemical accidents this year

Max Graham, Grist

There have already been 50 chemical spills or fires in the U.S. this year, and it’s only March.

Tornado-spawning storms may get worse due to warming

Seth Borenstein, The Associated Press

America will probably get more killer tornado- and hail-spawning supercells as the world warms, according to a new study that also warns the lethal storms will edge eastward to strike more frequently in the more populous Southern states, like Alabama, Mississippi and Tennessee.

Climate Funding Gets Squeezed by Volatile Markets

Amrith Ramkumar, The Wall Street Journal

Green startups were steadily raising cash until this quarter’s slide.

Post-Pandemic Deodorant Sales Pushed Up Unilever’s Emissions

Dasha Afanasieva, Bloomberg

Unilever reported a 15% increase last year in emissions from consumers’ use of hairsprays, body sprays and deodorants.

Federal leaders finally increase money for hatcheries, but tribes say it’s nowhere near enough

Tony Schick, Oregon Public Broadcasting

Columbia River salmon hatcheries need billions of dollars’ worth of upgrades to withstand climate change. They’re getting $50 million.

The ghost of Tulare Lake returns, flooding California’s Central Valley

Jake Bittle, Grist

Draining the lake allowed agriculture to thrive, but left the region vulnerable to floods.

4 lawsuits threaten Vineyard Wind

Benjamin Storrow, E&E News

The lawsuits against America’s first major offshore wind project are coming to a head.

Global energy transition investments must quadruple to $5T to reach climate targets: IRENA

Diana DiGangi, Utility Dive

Renewable deployments worldwide will have to grow from 3,000 GW to 10,000 GW by 2030 to manage global warming, says a new report.

Energy company: Minnesota leak fixed, plant to reopen soon

Trisha Ahmed, The Associated Press

A faulty pipe that allowed water containing a radioactive isotope of hydrogen to leak at a Minnesota nuclear power plant has been repaired and the plant will return to service in the next week, a spokesman for the energy company said Tuesday.

Massive Hacking-for-Hire Operation Infiltrated Exxon’s Climate Opponents, Prosecutors Say

Christopher M. Matthews, The Wall Street Journal

Charity of Rockefeller heirs among groups targeted by hackers; oil giant not accused of wrongdoing.

Biden administration moves ahead with massive Gulf of Mexico drilling auction, weeks after approving Willow Project

Ella Nilsen, CNN

A few weeks after allowing the controversial Willow oil drilling project in Alaska to go forward, the Biden administration is auctioning off more than 73 million acres of waters in the Gulf of Mexico to offshore oil and gas drilling.

US, New Mexico settle with oil company over emissions

The Associated Press

A Texas oil company has reached a $6.2 million settlement with the federal government and the state of New Mexico to resolve air pollution violations.

US could buy back oil for strategic reserve late this year

Reuters

The U.S. could start buying back crude oil for the Strategic Petroleum Reserve late this year after President Joe Biden last year directed the largest ever sale from the stockpile, Energy Secretary Jennifer Granholm said.

EPA cites 2 oil and gas firms over Permian Basin pollution

Michael Biesecker, The Associated Press

Two Texas companies have resolved Clean Air Act violations with the Environmental Protection Agency by agreeing to reduce emissions of planet-warming methane and other harmful pollutants wafting from the nation’s largest oil and gas producing region.

US environmental agency to conduct internal inquiry over Ohio train wreck

Tom Perkins, The Guardian

EPA’s response to the derailment has drawn intense criticism from East Palestine residents and public health experts.

Volvo CEO Says US Climate Law Will Drive EV Tech to North America

Ira Boudway, Bloomberg

The carmaker expects its US customers will eventually be able to take full advantage of federal tax credits for the purchase of electric cars.

Biden Tees Up a Supply-Chain Rethink With Challenge to China’s EVs

Yvonne Yue Li and Gabrielle Coppola, Bloomberg

The US should band together with allies to raise standards for how minerals are mined and processed, an energy security advocacy group argues.

Texas regulators question common reliability metric as they pursue new standard for ERCOT grid

Robert Walton, Utility Dive

As part of the state’s overhaul of its electricity market, the Public Utility Commission of Texas will consider public comments on the development of a reliability standard to improve grid performance through both operational and economic changes.

New Mexico court weighs fight over coal-fired power plant

Susan Montoya Bryan, The Associated Press

New Mexico’s largest electric provider wants the state’s highest court to overturn a 2021 decision by regulators who rejected a proposal to transfer its shares in a coal-fired power plant to a Navajo energy company.

Mexico is moving to power California and Arizona. But who will pay for it? 

Sharon Udasin, The Hill

Residents of the U.S. Southwest could one day power their homes with solar energy generated across the border — if a multi-pronged plan from the Mexican government comes to fruition. 

PJM plans capacity auction delays as it develops market reforms to bolster resource adequacy

Ethan Howland, Utility Dive

“Despite the implications of auction delay, reforms are necessary to the capacity market design in order to conduct an effective Base Residual Auction,” PJM said Monday in an email to stakeholders.

Mont. landowners prevail in SCOTUS property rights fight

Pamela King, E&E News

The Supreme Court on Tuesday allowed two Montana landowners to continue their legal fight against the Forest Service for allegedly changing the terms of access to a road that runs through their property near the Bitterroot National Forest.

California’s desert trees can’t take the heat: study

Saul Elbein, The Hill

Some of the Southwest’s most iconic desert trees are running for their lives in what could be a grim harbinger for more temperate ecosystems across the West.

A $24 Billion Wave of Climate Losses Faces Meat and Dairy Firms

Gautam Naik, Bloomberg

Half of 40 major meat and dairy companies may see operating losses by 2030, a new estimate suggests.

Google plans to share heat alerts in Search

Justine Calma, The Verge

The company says it will start rolling out the alerts this year, adding to similar warning systems it has designed for wildfires and floods.