Good morning! Today's Smart Brevity count: 1,085 words, ~ 4 minute read.
Situational awareness: PG&E might cut power to over 200,000 customers across 15 counties to lower wildfire risks ahead of strong winds that may arrive later this week.
And today marks exactly 50 years since Led Zeppelin released "Led Zeppelin II," which provides today's intro tune...
Sen. Elizabeth Warren's rise in the Democratic primary fight is forcing oil companies and analysts to grapple with the potential effects of the liberal Massachusetts senator winning the White House.
Why it matters: Warren, now challenging Joe Biden for frontrunner status, has pledged to halt hydraulic fracturing — the extraction technique that has enabled the U.S. oil and natural gas boom.
What they're saying: "Elizabeth Warren’s comments to 'ban fracking everywhere' drew a lot of attention and raised concerns for those invested and active in the industry," notes a recent RBC Capital Markets report.
Where it stands: Warren would need Capitol Hill help for an outright fracking ban, and that's very unlikely to materialize.
The intrigue: Targeting federal lands in particular would create bigger risks for some companies than others, based on how much of their acreage centered in those areas versus state and private holdings.
But, but, but: Efforts to stymie drilling on federal lands would face vigorous legal and political opposition and bureaucratic hurdles.
Photo Illustration: Sarah Grillo/Axios. Photos: Win McNamee, Alex Wong, Horacio Villalobos/Corbis-Corbis, Oliver Douliery/AFP, and Simon Dawson/WPA Pool
Axios' Dion Rabouin reports with me ... The world's top economic institutions are going deeper in the fight against climate change, and central banks are re-evaluating policies and pushing new principles to integrate climate-related risks into financial supervision, leaving the U.S. behind.
On one side: The impacts of climate change are "everywhere," European Central Bank chief economist Philip Lane said during the IMF's fall meetings last week.
That sentiment has been backed strongly by ECB chief Mario Draghi as well as Bank of England president Mark Carney.
On the other side: President Trump yanked the U.S. out of the Paris climate agreement and his administration announced "climate change will not be on the agenda" at the June G7 meeting in Florida.
The big picture: While the IMF and World Bank have for years examined climate and pushed for carbon pricing, the institutions are getting more active — substantively and symbolically.
Several oil companies reported a slight dip in their hefty lobbying numbers in the third quarter.
Why it matters: Disclosure filings reveal how much money is flowing through Beltway influence efforts and the specific topics they're working on.
The big picture: BP reported a slight increase, showing $1.26 million in Q3, up from $1.18 million in Q2. Others show drops...
But, but, but: It's real money! But lobbying ebbs and flows depending on what's happening in Congress and agencies, and it's well below levels from a decade ago.
A couple bits of news caught my eye that underscore how the U.S. shale boom is slowing down.
Deals (or not): Reuters reports that UBS Group AG and Piper Jaffray's Simmons Energy are cutting staff from their oil and gas investment banking teams "as U.S. dealmaking continues to dry up."
Earnings: Via the Houston Chronicle, "Declining activity in U.S. shale fields continued to sting Houston oilfield service company Halliburton during the third quarter."