On January 20, 2021, the new Biden-Harris Administration is almost certain to release a flurry of executive orders rolling back 4 years of Donald Trump’s policy of carbon pollution friendly climate denial. The United States will rejoin the Paris Climate accord, order the EPA to take steps to roll back Trump’s attacks on the Obama clean power plan and automotive gas mileage improvement. A key part of Biden’s climate policy is a 2 trillion dollar green infrastructure plan to mitigate the effects of climate change while creating Green jobs. The ease or difficulty behind spending and legislative initiatives, of course, will depend on the results of Jan. 6 Georgia special elections that could mean Democratic control of the Senate.
Wall Street International 1st Dec 2020 read more »
Joe Biden’s goal to eliminate carbon from the electricity sector in 15 years would imperil his presidency, according to the head of Vistra, the leading independent power producer in the US. Texas-based Vistra, formed from parts of TXU after the biggest-ever leveraged buyout fell into bankruptcy, in September pledged to reduce its carbon emissions to net-zero by 2050. Chief executive Curt Morgan said that the president-elect’s plan to reach the same goal for the nation’s electricity by 2035 would be “prohibitively expensive” for consumers.
FT 1st Dec 2020 read more »