Senate Republicans' version of the "phase 3" coronavirus stimulus, which stalled in a procedural vote last night, would provide $3 billion for the White House plan to buy 77 million barrels of oil for the Strategic Petroleum Reserve.
What we're watching: Whether Capitol Hill negotiations on this or subsequent bills will address the renewable power sectors' push — backed by some Democrats — to modify and extend availability of tax incentives.
Royal Dutch Shell and Total this morning announced plans to sharply cut spending and freeze share buyback plans.
Why it matters: The moves signal how cratering demand from COVID-19 and the collapse in prices are upending the outlooks for companies large and small.
The novel coronavirus, upending our world as we know it, is also changing how we consume energy and address climate change.
Driving the news: The various impacts are occurring both now and into the future. Most changes don’t bode well for acting on climate change and transitioning to cleaner energy.
