Morning Consult Energy: Tesla to Build New Megafactory in China




 


Energy

Essential energy industry news & intel to start your day.
April 10, 2023
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7 in 10 Voters Support Limits on Oil and Gas Company Profits at the Pump

Voters were most likely to back a requirement for oil companies to report financial information about their profit margins in their own states, with almost 7 in 10 saying they’d support a proposal similar to SBX1-2, a law signed by California Gov. Gavin Newsom (D) last month, which aims to stop alleged price gouging at the pump. 

 

That measure was also popular among Democrats (78%), independents (69%) and Republicans (61%). 

 

Among all registered voters, 70% believe that there should be limits to the amount of profit oil and gas companies make at the pump, including 79% of Democrats and 63% of Republicans. 

 

Read more here: A California Law Limiting Gas Price Gouging Is Popular With Democrats and Republicans.

 

Today’s Top News

  • Tesla Inc. plans to open a Megafactory in Shanghai, China, with a production capacity of 10,000 Megapacks a year, according to a tweet from Chief Executive Elon Musk, with construction expected to start during the third quarter of 2023 and production slated to begin mid-2024. The Shanghai factory will supplement production from the company’s California Megafactory, which has the capacity to produce the same amount of the large batteries that help with power grid stabilization. (CNBC
  • Multiple studies show that seas along the Gulf of Mexico and the southern coast are rising at levels “unprecedented in at least 120 years,” with abnormal surges recorded since 2010. The sea level rise could put more people living along the southern coast at risk as storms like Hurricane Michael in 2018 and Hurricane Ian in 2022 increased in severity because of a faster-rising ocean. (The Washington Post
  • Shareholders at publicly traded companies have filed roughly 540 proposals this year asking companies to address environmental, social and corporate governance issues, as resolutions about climate change have increased by 12% compared with last year and make up a quarter of resolutions filed since mid-February, according to Proxy Preview. (NPR News
 

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What Else You Need to Know

Politics and Policy
 

The World Bank Is Getting a New Chief. Will He Pivot Toward Climate Action?

David Gelles and Alan Rappeport, The New York Times

Under pressure from world leaders, development experts and shareholders, the bank opens its spring meeting on Monday, poised for big changes.

 

Meet Biden’s new offshore energy chief

Heather Richards, E&E News

More quickly than almost all of President Joe Biden’s political appointees, Elizabeth Klein became a target for her perceived hostility to oil drilling on public lands.

 

Calculating the Fastest Road to an Electric Car Future

Coral Davenport, The New York Times

Government scientists have spent a year analyzing electric vehicles to help the E.P.A. design new tailpipe rules to trigger an electric car revolution.

 

Vetoed but not forgotten: What’s next for WOTUS?

E.A. Crunden, E&E News

The fate of the Biden administration’s signature water rule remains unclear even after the president’s second-ever veto issued a stern rebuke to Congress.

 
Climate and Enviroment
 

Climate change adding 50 homers a year to MLB, study says

Seth Borenstein, The Associated Press

Climate change is making major league sluggers into even hotter hitters, sending an extra 50 or so home runs a year over the fences, a new study found.

 

Exxon’s new ‘advanced recycling’ plant raises environmental concerns

Maddie Stone, The Guardian

Advocates warn plants like the latest addition to the Texas complex generate hazardous pollutants and provide cover for oil giants to produce new plastic products

 

March was the second warmest on record, researchers say

Zack Budryk, The Hill

March tied with three previous years as the warmest on record in 2023, according to an analysis from the European Union’s Copernicus Climate Service.

 

Shelter-in-place order is issued for neighborhoods near a burning fishing vessel as the EPA conducts air monitoring

Rebekah Riess and Amanda Jackson, CNN

A shelter-in-place order was issued Sunday for neighborhoods near a burning fishing vessel in the Hylebos Waterway in Tacoma, Washington, where a “significant explosion” took place and fire conditions have worsened, officials said.

 

Multiple Norfolk Southern train cars derail near Pittsburgh

Olafimihan Oshin, The Hill

Multiple Norfolk Southern train cars derailed near Pittsburgh, Pennsylvania on Saturday, amid the recent turmoil surrounding the U.S.-based railway company, which was at the center of a toxic train derailment on the Ohio-Pennsylvania state line in February.

 

Wisconsin DNR releases 3,500 public comments on wolf plan

Todd Richmond, The Associated Press

Wisconsin wildlife officials on Friday released thousands of public comments on a new wolf management plan, some calling for the restoration of a statewide population limit and others urging a total hunting ban.

 

East Palestine isn’t alone: Communities around the country grapple with toxic chemical exposure

Rachel Frazin, The Hill

A February train derailment in East Palestine, Ohio, shone a spotlight on the impact of toxic chemicals. But communities who are exposed to such chemicals on a more routine basis say they’re still waiting for the same level of recognition. 

 
Renewables and Nuclear
 

Chinese Solar Maker Says US May Be Too Pricey for Expansion

Bloomberg

A top solar material producer is planning its first factory outside China, but may pass on the US because of high costs, according to the company’s chief executive officer. 

 

PacifiCorp plans nearly fourfold increase of solar and wind portfolio by 2032

Kavya Balaraman, Utility Dive

PacifiCorp plans to increase its current solar and wind portfolio by nearly four times, to roughly 20,000 MW by 2032, and achieve 7,400 MW of energy storage by 2029, the utility announced in an integrated resource plan filed with the regulators of six states.

 
Fossil Fuels
 

Opec’s gamble: can the global economy cope with higher oil prices?

Derek Brower and David Sheppard, Financial Times

Led by a confident Saudi Arabia, the cartel wants to boost its revenues. But persistent inflation could result in weaker demand.

 

Green groups sue to stop Ohio from leasing state parks for oil and gas drilling

Nina Lakhani, The Guardian

New law – condemned as ‘illegitimate giveaway to the oil and gas industry’ – requires state parks to be leased to interested parties.

 

DOE hydrogen hubs: 4 issues to watch

David Iaconangelo, E&E News

The Department of Energy is set to begin reviewing dozens of proposals to build the nation’s first “hubs” of low-carbon hydrogen, a critical step that could help determine how much the fuel cuts emissions and which companies benefit from its deployment.

 

Saudi Arabia-Led Oil Cuts Run Into Gusher of Alternative Supplies

Joe Wallace and Anna Hirtenstein, The Wall Street Journal

The wild card lies in countries where production has jumped but remains at risk.

 

Judge cancels Montana gas plant permit over climate impacts

Matthew Brown and Amy Beth Hanson, The Associated Press

A judge canceled the air quality permit for a natural gas power plant that’s under construction along the Yellowstone River in Montana citing worries over climate change.

 

Argentina’s YPF reaches $300 mln deal related to U.S. environmental case

Reuters

Argentina’s state oil company YPF has agreed to pay nearly $300 million to the creditors of one of its now-bankrupt subsidiaries after they sued the company in relation to a historical U.S. environmental case, it said.

 
Transportation and Alternative Fuels
 

Tesla hit with class action lawsuit over alleged privacy intrusion

Hyunjoo Jin and Mike Scarcella, Reuters

A California Tesla owner on Friday sued the electric carmaker in a prospective class action lawsuit accusing it of violating the privacy of customers.

 

Used U.S. electric vehicle sales jump as prices fall -group

David Shepardson, Reuters

Used electric vehicle sales in the United States rose 32% in the first three months of 2023 as prices fell, data provider Cox Automotive said on Friday.

 
Electricity/Utilities/Infrastructure
 

Texas’s Plan to Avoid Deadly Blackouts Could Cost $18 Billion

Naureen S. Malik and Mitchell Ferman, Bloomberg

A fleet of new natural gas-fired power plants in Texas may cost $18 billion, much more than an earlier estimate, as lawmakers attempt to improve the state’s electric grid after its deadly failure in 2021.

 

Puerto Rico’s utility requests $8.2B in federal investment for grid reliability projects: LUMA

Robert Walton, Utility Dive

LUMA Energy is advancing a “record number of critical reconstruction projects,” according to Juan Rodríguez, LUMA Energy’s vice president of capital programs.

 

WVa regulators to hear proposal to keep power plant open

The Associated Press

Regulators will consider a rate proposal by two FirstEnergy subsidiaries that would keep a West Virginia coal-fired power plant open past its scheduled May 31 closing date.

 
Land and Resources
 

California seeks federal help for salmon fishers facing ban

Julie Watson and Lisa Baumann, The Associated Press

California officials want federal disaster aid for the state’s salmon fishing industry, they said Friday following the closure of recreational and commercial king salmon fishing seasons along much of the West Coast due to near-record low numbers of the iconic fish returning to their spawning grounds.

 
General
 

Nuns urge Citigroup to rethink financing of fossil fuel projects

Attracta Mooney and Aime Williams, Financial Times

Sisters of St Joseph of Peace accuse bank of trying to ‘minimise its role’ in providing cash to oil pipeline company.

 







Morning Consult