French riot police. Photo: Mustafa Yalcin/Anadolu Agency/Getty Images

One of the biggest stories in the energy world right now is the fallout after French President Emmanuel Macron caved on new motor fuel taxes, suspending their implementation for six months after rioters flooded Paris.

Why it matters: I'm not an expert in French politics and won't pretend to understand all the dynamics at play here. But, the tumult at least partially signals the challenge of carbon pricing and raising fuel costs as a way to combat global warming, even as pricing regimes expand to more places.

Driving the news: There's a race underway to define what just happened — and some misinformation is flying around already.

  • Yesterday afternoon, as Axios' Khorri Atkinson noted, President Trump inaccurately tweeted that Macron's decision signals his agreement that the Paris climate deal is "fatally flawed."

But, but, but: While Trump is wrong about Macron's posture, it's true that the French mess can't be untethered from climate policy.

  • "Leaders in the United States, Canada, Australia and elsewhere have found their carbon pricing efforts running into fierce opposition," the Washington Post pointed out last night.

Where it stands: Conservatives have seized on the French action as activists on the right celebrate Macron's retreat.

  • Just before Macron backed off, Americans for Tax Reform circulated this piece from the Wall Street Journal's conservative editorial page.
  • It calls the French protests part of a wider global pushback against carbon pricing — including the election-day failure of a proposed CO2 tax in Washington state.

The big picture: A recent OECD report I covered here gets to the challenge of carbon pricing as a policy tool, with a summary starkly concluding:

"[T]oday’s carbon prices — while slowly rising — are still too low to have a significant impact on curbing climate change."
  • Macron's fuel tax retreat arrives as advocates of carbon taxes in the U.S. are trying to chip away at the overwhelming political resistance to the idea among GOP lawmakers.
  • This includes the Climate Leadership Council (CLC), a group aligned with several Republican elder statesmen.

What they're saying: "The events in Paris reinforce the importance of rebating carbon fee revenue directly to the public, which is not only the most equitable option, but also the most popular," CLC's Greg Bertelsen tells Axios.

  • Noah Kaufman, an economist with Columbia University's Center on Global Energy Policy, summed up the recent news this way:
"[I]t’s another setback for any policy that increases energy costs, which unfortunately includes just about every serious climate policy," he said in an email exchange last night."The nice thing about carbon pricing is that the revenues can be used to offset these increases in energy costs. But France wasn’t planning to use the revenue for that purpose."

Meanwhile, some experts and advocates are also cautioning against drawing wider conclusions about what happened overseas.

  • This Twitter thread from the Niskanen Center's Jerry Taylor, for instance, points out the big difference in fuel prices between France and the U.S. And we've got more on that just below, too.

Go deeper:

Go deeper

Justice Department sues Google over alleged search monopoly

Illustration: Lazaro Gamio/Axios

The Justice Department and 11 states Tuesday filed an antitrust lawsuit against Google, accusing the company of using anticompetitive tactics to illegally monopolize the online search and search advertising markets.

Why it matters: The long-awaited suit is Washington's first major blow against the tech giants that many on both the right and left argue have grown too large and powerful. Still, this is just step one in what could be a lengthy and messy court battle.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 5 million infections.

In photos: Florida breaks record for in-person early voting

Voters wait in line at John F. Kennedy Public Library in Hialeah, Florida on Oct. 19. Photo: Eva Marie Uzcategui/AFP via Getty Images

More Floridians cast early ballots for the 2020 election on Monday than in the first day of in-person early voting in 2016, shattering the previous record by over 50,000 votes, Politico reports.

The big picture: Voters have already cast over 31 million ballots in early voting states as of Tuesday, per the U.S. Elections Project database by Michael McDonald, an elections expert at the University of Florida.