Joe Biden on Monday rebutted President Trump's claim that the Democratic nominee would seek to ban fracking, the oil-and-gas extraction method that has enabled a surge in U.S. production over the last decade.
Why it matters: The remarks came during a speech in Pennsylvania, a critical swing state Trump carried in 2016 where fracking-enabled natural gas development is a major industry. Nearby Ohio, which Trump also won, is also a big gas-producing state.
NIO, a Chinese electric car maker, has boosted its capital raising by nearly 20% as investors rush electric vehicle manufacturer stock sales, Bloomberg reports.
Catch up fast: The news arrives just a few days after another Chinese electric vehicle maker, Xpeng, saw a big jump in share price during Thursday's trading debut on the New York Stock Exchange.
There's no doubt that President Trump and Joe Biden have hugely different energy policies, but the effect of a Biden win on U.S. oil production is less certain — at least in the near- and medium-term.
Driving the news: According to a Rystad Energy note published last week, there's no meaningful relationship between party control and domestic output, which is historically far more influenced by other forces.
Climate change is like a snowball effect, except, well, hot.
Why it matters: Like a snowball begins small and grows larger by building upon itself, numerous feedback loops embedded in our atmosphere and society are exacerbating climate change.
FEMA administrator Peter Gaynor repeatedly declined to answer on CNN's "State of the Union" Sunday whether he believes human activity is responsible for climate change, instead saying, "I'm going to leave all that up to the scientists."
Why it matters: It is an overwhelming scientific consensus that greenhouse gases emitted by human activity are a driving factor of climate change. While President Trump has frequently denied this consensus, his own administration has published reports concluding there is no credible explanation for modern-day global warming other than the burning of fossil fuels.
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