The institutional hurdles in front of President-elect Joe Biden's energy and climate agenda are very formidable, but you can also imagine things breaking Biden's way — enough to set the country on a path toward the emissions cuts his platform envisions.
Why it matters: Biden aims to put the country on a path toward net-zero emissions by 2050 and 100% carbon-free power by 2035 — but Democrats face long odds of winning the Senate.
A COVID-19 vaccine is "unlikely to ride to the rescue of the global oil market for some time," the International Energy Agency warned as they deepened their estimate of the pandemic's near-term effect on oil demand.
Why it matters: This morning's monthly oil market report is IEA's first analysis of where supply and demand is heading since Pfizer and BioNTech announced promising early results from its vaccine trials.
Tropical Storm Eta was unleashing more strong winds, heavy rains and "dangerous storm surge" over parts of Florida early Thursday, ahead of an expected second landfall in the state, per the National Hurricane Center.
The state of play: Eta was pummeling Florida's west coast overnight after briefly strengthening into a Category 1 hurricane offshore from the state's southwest. Gov. Ron DeSantis (R) tweeted Wednesday evening that FEMA had granted his request for a pre-landfall emergency declaration.
