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Myles McCormick and Martha Muir, Financial Times
Donald Trump’s administration has “watered down limits on mercury pollution from coal plants in its latest move to unpick US climate regulations and promote fossil fuels”, reports the Financial Times. The newspaper explains: “The Environmental Protection Agency on Friday rolled back strict controls imposed by former president Joe Biden’s administration on the volume of toxins that coal- and oil-fired power plants can release into the atmosphere. The Trump administration has argued the rules imposed an unnecessary burden on fossil fuel power generators and claimed that the rollback would slash costs by hundreds of millions of dollars.” It adds: “Friday’s move prompted uproar among environmental groups, who said it put the interests of the coal industry over public health…But industry groups welcomed the move, which reverts the limits on pollution, known as Mercury and Air Toxics Standards, to 2012 levels imposed under president Barack Obama.”
The New York Times says that nearly all coal plants in the US have already met the 2012 standards, with others closing instead. It adds: “Coal industry groups praised the move on Friday, saying the Biden administration’s stricter mercury limits would have made it much more expensive, if not impossible, for many coal plants to continue operating.” The newspaper says the Trump administration had already exempted 71 coal plants from the standards for two years. It notes that coal plants are the single largest source of mercury pollution in the US. Reuters says that the Supreme Court had previously refused a legal challenge against the mercury rules now being rolled back. It adds that “ageing” US coal plants still face rising costs, despite the weaker rules. E&E News calls the move the “latest salvo in the president’s multipronged push to boost the coal industry”. The Associated Press, the Hill and Scientific American all have the story.
Bloomberg says “it’s unclear whether the president’s initiatives will be enough to dramatically shift the domestic landscape for coal, which has declined for years in the face of competition from lower-cost natural gas and renewable power, as well as growing environmental regulations and climate-change concerns”. [Carbon Brief analysis shows that Trump has overseen a larger coal decline than any other president.] PBS News says the rollback “could drive up health care costs, advocates warn”. Deutsche Welle reports: “How mercury from coal plants can cost lives.” It says the mercury rules that are being rolled back were due to “save the health system $390bn” over two decades, according to Biden administration estimates. The Independent reports that an official called the rules “needless and costly” and that the EPA says their removal would save $670m. The Los Angeles Times reports under the headline: “Trump climate health rollback likely to hit poor, minority areas hardest, experts say.”
MORE ON US
E&E News: “EPA endangerment repeal could expose industry to legal blowback.” Bloomberg says that Republicans in the House of Representatives have “launched an investigation into six environmental organisations over their opposition to a $9bn oil project developed by ConocoPhillips in Alaska”. The New York Times: “He was a climate activist. One day, the FBI came knocking.” CNBC interviews Gregory Beard, the new head of the US Office of Energy Dominance Financing, which it calls the “world’s largest energy lender”. A proposed 9.2-gigawatt gas-fired plant in Ohio would have the highest emissions in the nation’s power sector, according to Bloomberg. The federal government has airlifted an unfuelled 5-megawatt nuclear reactor, saying this demonstrates the potential for rapid deployment, reports the Associated Press. Bloomberg reports on climate campaigners “considering new approaches” after failing to stop Wall Street from financing fossil-fuel projects.
Georgina McCartney, Arathy Somasekhar and Curtis Williams, Reuters
The Supreme Court ruling that Trump’s trade tariffs are illegal “may ease costs for some oil producers and drillers, but…broader energy flows would likely remain unchanged for now”, says Reuters. For example, it says that the ruling “could reduce the cost of building LNG [liquified natural gas] plants and other large-scale energy infrastructure”. It adds that the tariffs had also “raised costs for US crude producers and service companies”. However, the newswire continues: “The Supreme Court's decision did not remove 50% tariffs on steel and aluminum imposed last year. Some executives remain wary the administration could find ways to maintain tariff costs.” In addition, it says: “While the court's ruling will theoretically reduce the cost of constructing LNG plants, it is unlikely to result in China taking in more LNG from the US because of simple economics, said Ira Joseph, a senior research associate at Columbia University's Center on Global Energy Policy.”
Axios says the court ruling “curbs [Trump’s] power to use energy to pressure trading partners”. The outlet explains: “Multiple trade deals have included pledges from partners to buy US oil and liquefied natural gas. Trump has also threatened tariffs to pressure other countries not to buy Russian or Iranian oil.” It continues: “The ruling will ‘have a major impact on batteries for uses other than electric vehicles, with South Korean and Japanese firms particularly likely to benefit’, the research firm BloombergNEF said in a note Friday. ‘Solar will be less affected, as major solar producers in south-east Asia continue to face high tariffs in place under authorities not impacted by today's ruling,’ it states.” Axios adds that while Trump has pledged to expand use of other types of tariff, “some goods won't be subject to the duty, including certain critical minerals, metals used in currency and bullion, energy, and energy products”.
Eléonore Hughes, The Associated Press
On Saturday, the governments of Brazil and India signed a deal on critical minerals and rare earths, reports the Associated Press. It says: “The non-binding memorandum of understanding on rare earths establishes a framework for cooperation between the two countries, focusing on reciprocal investment, exploration, mining and artificial intelligence applications, among other issues…The deal on rare earths is part of a broader strategy from both India and Brazil to become more strategically autonomous from China and the US through diversification, said Oliver Stuenkel, an international relations professor at the Getulio Vargas Foundation, a thinktank and university.” The Times of India says: “Energy cooperation emerged as a key pillar of the talks, with both sides agreeing to accelerate collaboration in renewable energy and sustainable fuels.” It quotes Indian prime minister Narendra Modi saying: “Energy cooperation has been a strong pillar of our relationship. In addition to hydrocarbons, we are also accelerating cooperation in several areas, including renewable energy, ethanol blending and sustainable aviation fuels.”
Bloomberg says the deal “offers India a potential alternative source of supply as it seeks to reduce reliance on China and secure inputs critical for electronics, clean energy and defense”. It quotes Brazilian president Luiz Inácio Lula da Silva saying: “Increasing investments and cooperation in matters of renewable energy and critical minerals is at the core of a pioneering agreement that we have signed today.” Reuters says the countries also agreed to “expand cooperation in mining and minerals as it seeks to meet rising domestic steel demand and support capacity expansion amid a global race for raw materials”. Agence France-Presse and Al Jazeera also have the story, while the Hindu carries an interview with Brazilian president Lula.
Susannah Savage and Barney Jopson, Financial Times
A “wave of extreme rain and flooding” has disrupted European food supplies and threatens food price rises, reports the Financial Times. It says: “[E]xtensive damage to crops and infrastructure in recent weeks could quickly ripple through wholesale markets and supermarket supply chains, warn economists.” The newspaper quotes David Barmes at the London School of Economics: “Barmes said that the latest storms were part of a wider pattern of climate shocks feeding into food price inflation. His recent research has shown that the gap between UK and euro area food inflation in recent months was largely driven by a small number of climate‑sensitive items – including chocolate and olive oil – some of which carry a much heavier weight in the UK shopping basket, leaving British consumers more affected when extreme weather hits.” A Guardian “Saturday read” says: “Even as weather extremes worsen, the voices calling for the rolling back of environmental rules have grown louder and more influential.”
Jillian Ambrose, The Guardian
The Hinkley C new nuclear plant in Somerset will not open until 2030 and will cost £35bn in 2015 prices, “almost double the estimate of £18bn when it was given the green light”, reports the Guardian. The Financial Times notes the previous “‘best -ase’ target of 2029” and an initial schedule in 2016 of 2025. It says the £35bn cost is equivalent to “almost £49bn at today’s prices”. Bloomberg says the developer, the French state-owned energy firm EDF, “opened up the possibility of yet another delay – to 2031 – which would push up the cost by a further £1.4bn”. The Press Association says EDF plans to invest £15bn in the UK over the next three years. The Observer reports: “Delays and costs shouldn’t dent faith in UK’s nuclear plans, says EDF UK chair.” The Times and the Daily Telegraph also have the story.
MORE ON UK
The climate-sceptic Daily Mail has two articles attacking the Green candidate for the Gorton and Denton byelection taking place later this week. It labels its articles with the banner: “Beware the Green menace.” The Times: “Kingmakers: What the Greens or Lib Dems would demand of the SNP.” The Daily Express criticises the government for renting petrol cars. Bloomberg says mining firm Imerys “will mothball a lithium project in southern England due to funding constraints and tough market conditions”.
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