States, local governments and restaurants are starting to pause plans to curb single-use plastics as they try and control the coronavirus outbreak, per Argus Media and the Wall Street Journal.
Driving the news: "The delays are in response to concerns that reusable bags and containers carry more risk of spreading the virus than single-use items, which are designed to be used once and thrown away," Argus reports.
Analysis from U.K.-based clean energy think tank Ember shows lower power demand in Europe as countries impose new restrictions to stop the spread of the coronavirus.
By the numbers: "In Italy, although the week-on-week fall was 12%, there was already an 8% impact from the previous week, implying a total impact of 20% over the last 2 weeks," the post notes. Countries entered those weeks in different phases of their outbreak response.
The renewable power sector would not get sought-after aid in the COVID-19 economic plans before lawmakers on Capitol Hill, a setback for the industry warning of steep job losses and scuttled projects.
Driving the news: House Democrats' $2.5 trillion proposal unveiled last night omits what industry groups and some lawmakers wanted: an extension of deadlines to use tax credits and the ability to quickly monetize them. The provisions are also absent from the Senate's GOP-drafted "phase three" proposal.
Chevron this morning said it's slashing its planned 2020 capital spending by $4 billion — roughly 20% — and suspending share buybacks, making it the latest multinational giant to announce cutbacks as global oil demand craters.
The state of play: Chevron, the second-largest U.S.-based oil company, said around $2 billion of the cuts would be focused on shale, largely in the Permian Basin region.
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.
