Happy Friday! Today's Smart Brevity count: 1,135 words, ~ 4 minutes.
And Van Morrison will celebrate his birthday tomorrow, so he'll bring us into the long weekend...
Illustration: Rebecca Zisser/Axios
President Trump's deregulatory push is creating new tensions between the White House and some of the nation's most powerful corporate interests.
Driving the news: For the first time yesterday, the U.S. Chamber of Commerce publicly split with the White House over its plan to freeze Obama-era vehicle emissions and mileage rules.
Why it matters: While K Street is directionally inclined toward deregulation, there can be colliding interests below the surface. And that's certainly the case when it comes to the oil and auto industries.
Where it stands: The Chamber, in a letter to U.S. and California regulators, urged them to strike a deal that enables continued increases in standards yet weakens the Obama-era targets.
The big picture: The disputes show how the administration's moves to unwind Obama-era climate policies are too much for some segments of these industries, notably big players who...
The intrigue: Let's be clear — oil majors are not Greenpeace. Instead, maintaining regulations gives them a competitive advantage thanks to their huge financial resources.
Go deeper: Trump’s methane rule rollback divides oil and gas industry (NYT)
The methane regs change is getting lots of attention, but where do those oil-and-gas emissions actually come from?
Where it stands: The chart above, via a recent International Energy Agency analysis, shows which segments of the industry emit the most.
Why it matters: "Unconventional" includes the prolific shale resources that have made the U.S. the world's largest oil-and-gas producer.
New Wall Street Journal reporting about the (apparently) on-again Saudi Aramco IPO shows how the turmoil in the U.K. and Hong Kong could influence where the massive listing happens.
Driving the news: Per WSJ, Aramco is leaning toward Tokyo for the international portion of the IPO, which under one plan would follow a listing on the smaller Saudi exchange.
Why it matters: The reporting shows how geopolitical upheaval is spilling into the high-stakes competition for what's likely to be — if it happens — the largest IPO ever.
The intrigue: They report that Saudi officials have cooled on the London Stock Exchange, which has wooed the Saudis for the lucrative placement.
Aramco did not respond to a request for comment from Axios.
Illustration: Rebecca Zisser/Axios
The Financial Times ($) has a good feature on the growth — but small relative size — of Big Oil's investments in climate-friendly energy sources.
Where it stands: One part of the broader picture is activity by the majors' VC arms.
By the numbers: It cites an analysis of combined spending by the VC divisions of Shell, BP, Aramco, Chevron and Total. FT writes...
But, but, but: Spending on renewables and other climate-friendly projects and tech remains a very small slice of the majors' overall budgets.
Go deeper: Sizing up Big Oil's clean tech moves
Per Cleveland.com, "Efforts to hold a statewide referendum to overturn Ohio’s newly passed nuclear power plant bailout law moved a step closer to reality Thursday, as Attorney General Dave Yost announced he has approved supporters’ ballot summary language."
Why it matters: The law's subsidies are essential to keeping 2 nuclear plants open. But environmentalists and the natural gas industry oppose the law, which also aids coal generation and lowers the states' renewables mandate.
What's next: ClearView Energy Partners, in a note yesterday, predicted that opponents would secure enough signatures to make the 2020 ballot.
The intrigue: It's "far from clear" whether voters would overturn the law, ClearView said, but they also note...
The other side: Ohio's GOP Lieutenant Gov. Jon Husted makes the case for this law in this Generate item.
Big Oil: "Exxon Mobil's first oil production vessel has arrived off the coast of Guyana as the United States' largest oil major prepares for massive growth along the small South American nation," the Houston Chronicle writes.
Climate change: "China’s greenhouse gas emission targets are at risk as a result of the trade war with the United States, which has put Beijing’s coal-reliant economy under heavy pressure, a senior climate official said on Friday," per Reuters.
Electric cars: "Volkswagen AG’s Audi luxury-car brand is in talks to add China’s BYD Co. as a supplier of batteries used in its premium electric vehicles, according to people familiar with the matter," Bloomberg reports.