Axios

Tesla is riding high these days, but two developments could create reputational risks for the world's most valuable car company.

Driving the news: Tesla is beginning to face criticism over the climate effects of its big new investment in bitcoin and the decision to accept it as payment — even though electric vehicles are lower-CO2 alternatives to gasoline vehicles.

The White House is taking the first steps to creating a new cross-agency federal R&D organization for climate technologies, but there's plenty we still don't know about the effort.

Why it matters: Biden's overall climate plan calls for a much more muscular federal role in scaling up research and commercialization of next-wave tech, even as it looks to speed deployment of existing low-carbon sources.

The chairman of the Senate's energy committee wants President Biden to consider the "many benefits of responsible domestic natural gas production" as the administration crafts its executive energy policies.

Why it matters: West Virginia Democrat Joe Manchin's position, spelled out in a new letter to Biden, comes as Manchin is poised for an influential role in the administration's legislative efforts.

The U.S. Department of Interior said Thursday it will host consultations with indigenous tribal leaders next month to discuss COVID-19, economic inequality, racial justice and climate change.

Why it matters: The move comes as the Biden administration seeks to reset the White House's relationship with tribal governments following years of tensions with former President Trump, who often made offensive remarks about Native Americans.

Large companies' procurement deals for new renewable power capacity in the U.S. jumped last year to their highest level at 10.6 gigawatts, the Renewable Energy Buyers Alliance (REBA) said.

Why it matters: Big corporations have emerged as an important driver of new solar and wind power projects as costs have fallen and they look to meet sustainability pledges.

The effects of President Biden's restrictions on oil-and-gas leasing and permitting on federal lands and waters will be limited in the near term, the International Energy Agency said Thursday.

Driving the news: IEA's monthly oil market report says it doesn't see a "material impact on U.S. production in the short term."

Oil demand is slated for a large bounce-back from the pandemic that will tighten the market a lot, but it's going to take a while, the International Energy Agency said.

Why it matters: "The rebalancing of the oil market remains fragile in the early part of 2021 as measures to contain the spread of COVID-19, with its more contagious variants, weigh heavily on the near-term recovery in global oil demand," IEA said in its monthly oil market analysis today.

Royal Dutch Shell said Thursday that its oil production peaked in 2019 and is expected to decline by roughly 1%-2% annually as the company diversifies into lower-carbon energy products and business lines.

Why it matters: It signals how some of the world's most powerful oil-and-gas companies are positioning themselves for a world taking climate change more seriously and responding to calls from investors and activists to do more.