Top Stories

  • Five officials from The Electric Reliability Council of Texas that oversees the state’s power grid will resign from the board, according to a statement filed with the Public Utility Commission, as ERCOT faces criticism for millions of power outages last week that were caused by record-low temperatures and as investigations into the blackouts mount. The five board members were all from outside of Texas, prompting critics to question why outside officials have large influence over the state’s grid. (The New York Times)
  • Texas customers who are served by the state’s deregulated electricity market, which is meant to provide reliable power at lower rates, have paid $28 billion more for electricity than residents who have used traditional utilities since the state deregulated its power generation in 2004, according to an analysis by a media outlet using data from the Energy Information Administration. The analysis also found that the yearly rate for electricity from the state’s traditional utilities between 2004 and 2019 was 8 percent lower on average than the national average, but the rates in Texas among retail providers were 13 percent higher than the U.S. average during the same period. (The Wall Street Journal)
  • Commodity Futures Trading Commission acting Chairman Rostin Behnam (D) said the agency is monitoring Texas energy markets for potential “irregularities” and coordinating with other regulators, exchanges and stakeholders on market integrity following last week’s power outages. Behnam said that last week’s severe winter weather underscored vulnerabilities in the country’s energy infrastructure, which will continue to be tested during more frequent extreme weather events. (S&P Global Platts)
  • Nada Culver, an attorney who has worked for conservation groups, has been nominated to serve as deputy director of policy and programs at the U.S. Bureau of Land Management. If confirmed, Culver, most recently the vice president of public lands and senior policy counsel at the National Audubon Society based in Denver, would be serving in the same position as former acting BLM director William Perry Pendley, and she would lead the agency in the short term until the Biden administration nominates, and the Senate confirms, someone to serve as the permanent director. (The Daily Sentinel)

Chart Review

Events Calendar (All Times Local)

02/24/2021
Smart Energy Summit: Virtual Conference Series
S&P Global Market Intelligence: 34th Annual Power and Gas M&A Symposium 2021
The WATT Coalition event: Unlocking the Queue 10:00 am
MIT Energy Initiative Energy Innovation Series: Decarbonizing Buildings 10:00 am
Columbia SIPA event: Zero-Carbon Hydrogen Use in Today’s Energy System 12:00 pm
OEP event:The State of Long Duration Energy Storage 12:00 pm
Axios event titled “The New Washington: The Future of Green Transportation” featuring United Airlines CEO Scott Kirby and General Motors Chief Sustainability Officer Dane Parker 12:30 pm
Carbon Capture Coalition event: Federal Policy Blueprint Release 2:00 pm
Atlantic Council event: Electricity System in Crisis: How to Improve Reliability and Resiliency Before the Next Disaster Strikes 4:00 pm
02/25/2021
CSIS event: The Role of Industrial Policy and Trade in Shaping Clean Energy Supply Chains 10:00 am
House Agriculture Committee hearing: Climate Change and the U.S. Agriculture and Forestry Sectors 12:30 pm
House Financial Services Committee Investor Protection, Entrepreneurship and Capital Markets Subcommitteehearing: Climate Change and Social Responsibility: Helping Corporate Boards and Investors Make Decisions for a Sustainable World 2:00 pm
House Appropriations Committee Energy and Water Development Subcommittee hearing: Strategies for Energy and Climate Innovation 2:00 pm
NASEM event: The Future of Electric Power in the United States: Public Briefing 3:00 pm
Columbia SIPA event: Straight Talk with Cheryl LaFleur and David Hill: What Makes Policy Change Successful? 4:00 pm
02/26/2021
EESI Congressional Climate Camp event: Federal Policy to Decarbonize High-Emission Sectors 2:00 pm
View full calendar
PRESENTED BY ENVIRONMENTAL DEFENSE FUND


What’s the most powerful tool companies have to fight climate change? Their political influence.

The Climate Authenticity Meter assesses how specific actions by companies and industry groups support or obstruct progress on climate policy. Investors, employees, customers and other stakeholders are increasingly demanding that companies make climate policy advocacy a top priority. This tool highlights how corporate climate lobbying activities measure up against the AAA Framework for Climate Policy Leadership, endorsed by the major environmental groups that work with business.

General

Hearing for Haaland, first Native American pick to run Interior Dept., focuses on fossil fuels
Darryl Fears, The Washington Post

The Senate confirmation hearing for Deb Haaland, nominated to become the first Native American interior secretary, morphed Tuesday into a proxy fight over the future of fossil fuels as lawmakers from oil- and gas-producing states grilled her regarding the Biden administration’s embrace of green energy.

Senate confirms Tom Vilsack as agriculture secretary
Axios

During his confirmation hearing, Vilsack emphasized the need for the USDA and agriculture sector to help lead the way in mitigating the effects of climate change.

Biden Meets Virtually With Canada’s Trudeau on Climate Change, Covid-19, Economic Recovery
Gordon Lubold and Paul Vieira, The Wall Street Journal

President Biden met with his Canadian counterpart on Tuesday, agreeing to closer cooperation on climate change, Covid-19 pandemic response, economic recovery and security in an effort to emphasize the importance of U.S. relations with its northern neighbor.

White House urges passage of House public lands package
Rachel Frazin, The Hill

The White House released a policy statement on Tuesday saying the administration “strongly supports” a House package aimed at protecting lands and waters in Arizona, Colorado, California and Washington state.

Biden administration misses deadline to update carbon cost as battle begins over its calculation
Abby Smith, Washington Examiner

The Biden administration has missed its self-imposed deadline to publish updated values used to assess the costs and benefits of combating climate change that will be critical to help it justify stricter greenhouse gas mandates.

‘Climate Change’ Is Back, ‘Illegal Alien’ Is Out. New Administration Changes the Language of Government.
Michael D. Shear, The New York Times

Days after President Biden took office, the Bureau of Land Management put a scenic landscape of a winding river at the top of its website, which during the previous administration had featured a photograph of a huge wall of coal.

Biggest Electric School Bus Deal in U.S. Approved in Maryland
Keith Laing, Bloomberg

The Board of Education in Maryland’s Montgomery County voted unanimously on Tuesday evening to approve a 16-year, $169 million contract to lease 326 buses, part of a plan that could result in the county replacing its entire 1,422-bus fleet over the next two decades.

Lucid Motors CEO aims to launch Tesla Model 3 rival in 2024 or 2025
Hyunjoo Jin and Joshua Franklin, Reuters

Lucid Motors Chief Executive Officer Peter Rawlinson told Reuters on Tuesday that the luxury electric car maker plans to launch a rival to Tesla Inc’s Model 3 in 2024 or 2025.

Nikola Touts Truck That Will Run 900 Miles on a Tank of Hydrogen
David Welch and Edward Ludlow, Bloomberg

Nikola Corp. said that its long-range fuel-cell semi truck will get as much as 900 miles (1450 kilometers) on a tank of hydrogen when it comes out in 2024, as the startup works to bolster its position in the increasingly competitive field of zero-emission freight vehicles.

Oil Rally Extends With Traders Eyeing Further Price Gains
Elizabeth Low and Alex Longley, Bloomberg

Oil climbed again, with mixed news on global inventories offset by expectations of a prolonged market rally into the summer.

Oil and Natural Gas

Keystone XL’s Death Sparks Rush to Ship Oil-Sands Crude by Rail
Robert Tuttle, Bloomberg

U.S. President Joe Biden’s decision to cancel the Keystone XL pipeline is sparking renewed interest in shipping Canadian oil-sands crude by rail, and that comes with its own environmental risks.

Occidental says low-carbon business profits could match oil
Jennifer Hiller, Reuters

Occidental Petroleum Corp expects its low-carbon business to generate earnings equal to its oil and gas production business in the coming decades, Chief Executive Vicki Hollub told analysts on Tuesday.

Delayed North Dakota Oil Drilling Permits Draws Federal Lawsuit
Maya Earls, Bloomberg Law

The Interior Department is failing to timely act on 50 applications for permits to drill in North Dakota, an oil and gas company says in its lawsuit filed Tuesday in a federal court in the state.

Utilities and Infrastructure

Cal-ISO proposes market parameter, import bidding enhancements to price cap rules
Jasmin Melvin, S&P Global Platts

Responding to stakeholders’ concerns with its plan for complying with energy offer cap provisions slated to take effect next month, California Independent System Operator has proposed two market enhancements for aligning higher bid caps with the characteristics of the Western Interconnection’s energy market.

Renewables

Texas freeze casts renewable energy as next battle line in US culture wars
Oliver Milman, The Guardian

The frigid winter storm and power failure that left millions of people in Texas shivering in darkness has been used to stoke what is becoming a growing front in America’s culture wars – renewable energy.

The US Offshore Wind Boom Will Depend On These Ships
Justine Calma, The Verge

New offshore wind developments are poised to help the US usher in a new era in energy — but first, they need ships. More specifically, they need massive specialized vessels capable of erecting a skyscraper-sized turbine in the open ocean.

A solar panel in space is collecting energy that could one day be beamed to anywhere on Earth
Nick Paton Walsh, CNN

Scientists working for the Pentagon have successfully tested a solar panel the size of a pizza box in space, designed as a prototype for a future system to send electricity from space back to any point on Earth.

Coal/Nuclear

Dominion SC plans to retire coal plants by 2030 but would mostly rely on natural gas
Chloe Johnson, The Post and Courier

Dominion Energy South Carolina now says it can retire coal-fired power generation by 2030, a significant reversal from plans released by the utility just last year.

Climate

Biden’s Climate Envoy, at U.N., Likens Global Inaction to a ‘Suicide Pact’
Somini Sengupta, The New York Times

The United States climate envoy, John Kerry, on Tuesday warned that global warming was making the world a more dangerous place and posed risks to peace and security around the world.

Trudeau swipes at Trump: US leadership on climate ‘has been sorely missed’
Brett Samuels, The Hill

Canadian Prime Minister Justin Trudeau on Tuesday swiped at former President Trump during his first bilateral meeting with President Biden, praising the current administration for its early commitment to addressing climate change.

Annapolis sues 26 oil and gas firms alleging they ‘concealed’ knowledge of climate change
John Bowden, The Hill

City officials in Annapolis, Md., filed a lawsuit Monday accusing 26 companies including Exxon, Shell, and the American Petroleum Institute of failing to warn state officials about the dangers posed by man-made climate change.

Carbon Capture Tax Change Would Spur Growth, Coalition Says
Dean Scott, Bloomberg Law

More U.S. carbon-capture projects could be deployed if they could claim a federal tax credit as an estimated tax payment, a coalition of business and environmental groups said Wednesday in a report.

Show us the plan: Investors push companies to come clean on climate
Simon Jessop et al., Reuters

In the past, shareholder votes on the environment were rare and easily brushed aside. Things could look different in the annual meeting season starting next month, when companies are set to face the most investor resolutions tied to climate change in years.

A Message From Environmental Defense Fund:

What’s the most powerful tool companies have to fight climate change? Their political influence.

The Climate Authenticity Meter assesses how specific actions by companies and industry groups support or obstruct progress on climate policy. Investors, employees, customers and other stakeholders are increasingly demanding that companies make climate policy advocacy a top priority. This tool highlights how corporate climate lobbying activities measure up against the AAA Framework for Climate Policy Leadership, endorsed by the major environmental groups that work with business.

Opinions, Editorials and Perspectives

5 Bipartisan Clean Energy Policies for the 117th Congress
Rich Powell, Morning Consult

Addressing climate change is undeniably a top priority for the Biden administration. As the tragic weather events in Texas and across the Midwest wreak havoc on our energy system, preparing our grid to be reliable needs to be front and center.

Biden’s Strongest Climate Allies Are Outside Washington
Michael R. Bloomberg and Carl Pope, Bloomberg

President Joe Biden’s ability to bring together the two parties in Congress is already being tested. But the good news is that on at least one issue — climate change — the fate of the president’s ambitions does not rest primarily with his ability to unite Congress, but with his ability to support and expand ongoing work in the rest of the country.

More Green Blackouts Ahead
The Editorial Board, The Wall Street Journal

You’d think the Texas blackouts would trigger some soul-searching about the vulnerability of America’s electrical grid. Not in today’s hothouse of climate politics.

Research Reports

The Texas Power Crisis, New Home Construction, and Electric Heating
Lucas Davis, Energy Institute at Haas

How is it possible that Texas demand was able to reach 69 gigawatts in the winter? To understand this you have to go back a few years.

How renewable energy jobs can uplift fossil fuel communities and remake climate politics
Adie Tomer et al., The Brookings Institution

The future of the American economy and our collective well-being require a comprehensive response to the climate crisis, including a transition from fossil fuels to renewable energy sources. It will be impossible to mitigate climate change—and hit our greenhouse gas reduction targets by 2030, or even 2050—without quickly transitioning to solar, wind, and other renewable sources of electricity.

Morning Consult