Quick reads

** The Biden administration plans to set strict requirements on the sources of carbon-free electricity used by hydrogen producers seeking lucrative federal incentives, according to news reports citing leaked information regarding long-awaited rules for the Inflation Reduction Act’s clean hydrogen tax-credit program.

** Chrysler-parent Stellantis said it is seeking to void a 2019 California emissions deal with rival automakers and it may face new compliance penalties from state regulators.

** Rio Tinto RIO announced that its Kennecott copper operation will fully shift from fossil diesel to renewable diesel in the first quarter of 2024. This move aligns with Rio Tinto’s efforts to transition toward cleaner energy sources and achieve its net-zero carbon goals.

** The U.S. and Canadian governments plan to work together to reduce the railway sector’s greenhouse gas emissions via a task force that will explore accelerating the use of zero-emissions locomotive technologies, leaders from both countries announced at the COP28 United Nations climate change conference in Dubai.

** Chevron Corp. followed rival Exxon Mobil Corp. in raising planned capital spending as the biggest US oil explorers seek to increase long-term crude production.

** BlackRock Inc. Chief Executive Officer Larry Fink said Republican presidential candidates are spreading misinformation about the world’s largest asset manager, declaring their preoccupation with the firm “a sad commentary on the state of American politics.”

** California’s transmission permitting process is not sufficient to efficiently review the number of new transmission projects in the state’s pipeline, according to a new report from the Center for Energy Efficiency and Renewable Technologies and GridLab.

** Rural school leaders in California say Gov. Gavin Newsom’s approval of legislation requiring all newly purchased or leased school buses in the state to be zero-emission starting in 2035 is unworkable.


** As delegates at the 2023 COP28 UN climate change summit work to identify global climate actions by the Dec. 12 deadline, the head of the OPEC oil cartel urged the group’s members to block any deal aimed at phasing out fossil fuels.

** A Saudi government document, obtained by Politico, contains a pitch to COP28 conference attendees raising concerns about the “lifecycle” emissions produced by renewable energy sources, including solar and wind energy.

** Special Climate Envoy John Kerry wrapped up the first week of the COP28 climate summit in Dubai by announcing the U.S. supports “largely” phasing out fossil fuels.

** Canada will require its fossil fuel industry to cut its emissions between 35% to 38% below 2019 levels starting in 2030, it was announced on Thursday. The prime minister Justin Trudeau’s government plans to limit emissions from the oil and gas sector through a national cap-and-trade system which he first proposed in his 2021 election campaign, according to the policy announcement.

** After operating for a century in Venezuela through booms, busts and US sanctions, Chevron Corp. is being tested again. If the nation’s president, Nicolás Maduro, follows through on his threat to annex a huge swath of neighboring Guyana, analysts expect the US to reinstate sanctions and potentially revoke a license that allowed the oil supermajor to resume operating in Venezuela.

** The European Union reached a tentative deal on a gas regulation enabling countries to effectively ban Russian shipments of liquefied natural gas without new energy sanctions.