Happy Friday! Today's Smart Brevity count: 1,085 words, ~ 4 minutes.
And this month marks 45 years since Linda Ronstadt released the album "Heart Like A Wheel," so her amazing voice takes us into the weekend...
Using carbon pricing to cut transportation emissions could be tough, and some Energy Department data I noticed this week helps to explain why.
Driving the news: The latest entry from the Vehicle Technologies Office's handy "transportation fact of the week" series compares a decade of changes in U.S. gasoline prices to vehicle miles traveled.
The big picture: The chart above nicely illustrates something that climate advocates and analysts already know: Big fuel price swings don't change driving levels much.
Quick take: The data suggests that a carbon tax would have to be really high to put a big dent in VMT. Plus, high carbon prices — for that matter any carbon prices — are politically a tough sell.
What they're saying: "It’s just really difficult to move the needle on emissions in the transportation sector," Noah Kaufman, an economist with a Columbia University energy think tank, tells me.
But, but, but: Kaufman, a carbon tax supporter who analyzes various Capitol Hill proposals, says they can still be a useful part of the transportation policy toolkit.
The bottom line: Decarbonizing transportation will take a basket of approaches, as his analysis notes.
The European Investment Bank has decided to end all financing for fossil fuel development by the end of 2021 — including natural gas projects.
Why it matters: It's the "first time any major multilateral lender has curbed lending to natural gas projects because of climate change concerns," the Financial Times reports.
Yes, but: The policy leaves the door open for financing natural gas projects — with a big caveat.
The big picture: The move underscores a growing focus in climate circles on natural gas, which produces far less CO2 when burned than coal, but is nonetheless a major emissions source.
Illustration: Sarah Grillo/Axios
The Green New Deal just got a tad less vague.
Driving the news: Sen. Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.) on Thursday unveiled a 10-year plan to spend up to $180 billion to decarbonize and overhaul the nation's public housing.
Why it matters: The lawmakers are calling the proposed bill the first attempt from Green New Deal sponsors to begin adding legislative details to the sweeping concept.
How it works: The far-reaching plan envisions grants for efficiency overhauls and renewable energy use; workforce development; improved water quality; construction of community and childcare centers; recycling; improved transportation access and more.
The big picture: It's very Green New Deal-y.
Editor's note: This story has been updated to clarify the scope of the proposed legislation and that the plan would spend up to $180 billion.
The International Energy Agency's latest oil market analysis this morning highlights why the landscape isn't getting any easier for OPEC and Russia as they head into their early December summit.
The big picture: "The hefty supply cushion that is likely to build up during the first half of next year will offer cold comfort to OPEC+ ministers gathering in Vienna at the start of next month," IEA said in its closely watched monthly report.
Where it stands: The current OPEC+ agreement, which jointly curbs output by 1.2 million barrels per day, extends through March of 2020.
Go deeper: OPEC+ faces 'major challenge' from competitors' surging output: IEA (Reuters)
130: That's the number of electric buses that the Los Angeles Department of Transportation announced it has ordered from the manufacturer BYD.
200: That's the number of electric vehicles that Lyft is deploying in Denver in its rental program for drivers.