Why it matters: The prime minister has long backed the pipeline meant to carry crude oil from Alberta to Nebraska. Biden, however, campaigned on the cancellation of the Keystone XL pipeline.
The United States should wean itself from dependence on China for its rare earth minerals and metals supply, Robbie Diamond, CEO of Securing America's Future Energy (SAFE), said on Friday in an Axios virtual event.
Why it matter: Rare earths are crucial in the manufacturing of commercial electronics, military technologies and the batteries and magnets used in electrical vehicles — and China is the world's leading processor and exporter of those materials.
The U.S. auto industry is spreading west, with electric vehicle companies opening factories far from Detroit, in places like California, Arizona and Texas.
Why it matters: With hundreds of millions of dollars in fresh capital, along with newly issued public stock symbols, many are unproven newcomers with ambitions to become the next Tesla.
Janet Yellen, President Biden's nominee to run the Treasury Department, has made clear to senators that her boss supports carbon pricing, but how that backing translates to policy is unknown.
Driving the news: "I am fully supportive of effective carbon pricing and I know that the President is as well," Yellen said in written answers to Senate Finance Committee members' questions published Thursday.
The first phase of the Biden administration plan to thwart new oil and natural gas permitting on federal lands has arrived.
Driving the news: An Interior Department order Thursday imposes a 60-day freeze on new drilling permits, leases, lease extensions and other actions, though it "does not limit existing operations."
The burst of Biden administration staffing picks announced yesterday revealed that the Energy Department (DOE) has newly created roles that reflect what President Biden called campaign priorities.
Driving the news: One new position is "director of energy jobs," which is being filled by Jennifer Jean Kropke. She was previously the first director of workforce and environmental engagement with Local 11 of the International Brotherhood of Electrical Workers.
EVgo, a big player in electric vehicle charging, said this morning that it's going public via a reverse merger with a special purpose acquisition company (SPAC).
Driving the news: The Los Angeles-based company, which has charging stations in 34 states, expects the deal will bring in $575 million that will "be used to fully fund and accelerate EVgo’s growth strategy and network buildout."
After booming in 2020, stocks of clean-energy companies are poised to keep going up with President Biden pushing policies favorable to their bottom lines.
Where it stands: Cleantech stocks have blown past their last high in the mid-2000’s, which burst in the 2008 financial crisis. Not so far this time despite the pandemic crushing economies everywhere — and the oil industry.
