Good morning and Happy Mother's Day to all the moms out there — especially my own!
Situational awareness: Daimler announces Ambition2039 — a plan to have carbon-neutral new passenger car fleet in 20 years.
My latest column peeks inside the minds of America's swing voters when it comes to climate change and energy. I'll share that, and then Ben Geman will get you up to speed on the rest of the news. You'll also be hearing from me the rest of the week as Ben is taking some well-deserved time off.
Illustration: Sarah Grillo/Axios
Swing voters in 3 of America’s top battleground states discussed what was on their mind when it comes to climate and energy via focus groups: They want President Trump to do more on climate change, think the weather is getting weirder, and don’t know much about the Green New Deal.
Why it matters: It’s voters like these who have an important role electing America’s presidents. So it's worth listening to them.
Details: I watched the focus groups of swing voters, roughly a dozen each in Wisconsin, Ohio and Iowa, who answered questions about political topics, including climate and energy.
Some of the key takeaways when it comes to climate and energy are...
1. Current administration: There was widespread agreement with the statement that Trump should do more on clean energy innovation to reduce carbon emissions.
2. Weather trends: There was general agreement with the statement that the weather is getting weirder, and some connected it to climate change.
3. GND and other policies: The vast majority of these voters don’t know much about the GND, a sweeping proposal calling for drastic reductions in greenhouse gas emissions alongside broader economic goals, like federal jobs guarantees and universal health care.
The bottom line: Energy and climate change seem to be rising in the minds of America’s swing voters, but the extent of concern appears less intense than many might otherwise assume if you just watch Twitter or cable news.
Go deeper: See comments and interviews from the voters by reading my whole column.
May 13 photo of crude oil tanker Amjad, which was one of two reported tankers damaged in attacks off the coast of Fujairah. Photo: Karim Sahib/AFP/Getty Images
Crude oil prices rose Monday after Saudi state media said 2 oil tankers sustained "significant damage" in sabotage attacks Sunday near the coast of Fujairah in the United Arab Emirates.
The latest: Brent crude was priced around $72.06 and WTI at $62.77 in trading this morning.
What they're saying: "With a threat to the free circulation of oil in one of the world’s most critical areas, it’s no surprise oil is moving,” BNP Paribas analyst Harry Tchilinguirian tells the Wall Street Journal.
Go deeper: Axios' Rebecca Falconer has more.
A lot has happened in climate politics since our last edition.
Catch up fast: On Friday, Reuters broke the news that Democratic White House frontrunner Joe Biden is crafting a middle ground approach on climate policy.
Why it matters: The story sheds light on how Biden may approach a topic that he has not yet emphasized in his nascent run.
The intrigue: Biden's campaign pushed back against the story's framing without disputing their actual reporting. A spokesperson said via Twitter that Biden will address climate in a "meaningful and lasting way."
Here are a few takeaways...
The big picture: Per Reuters, the policy will likely include...
What's next: Via Twitter, Biden said he views climate change as an "existential threat," and that he will unveil more details "in the coming weeks."
Markets: The International Energy Agency will release its latest monthly oil market report on Wednesday.
Green New Deal: Rep. Alexandria Ocasio-Cortez and Sanders headline a rally for the sweeping climate and economic template this evening at Howard University in Washington, D.C.
Congress: This week's spate of hearings includes...
White House: Trump will tour the Cameron LNG Export Facility in Hackberry, Louisiana. While in Hackberry, the president will also speak about "promoting energy infrastructure and economic growth," per Axios' Jonathan Swan.
Climate change is an enormous risk to the economy and markets. If the world manages to solve its collective action problem, investors will cheer — but, as with any major change, there will be winners and losers, Axios' Felix Salmon reports.
What to watch: Moody's, the ratings agency, is putting together what it calls a "framework to assess carbon risks." Individual companies will be given a carbon transition assessment, or CTA, which measures how well they'll be able to operate in a low-carbon economy.
"Issuers assigned the highest scores, CT-1 and CT-2, exhibit advanced positioning for carbon transition. These companies typically have a business model that benefits from the transition to a low-carbon economy."
"By contrast, companies assigned the lowest scores, CT-9 and CT-10, exhibit poor positioning and typically have business models that are fundamentally threatened by carbon transition over any time horizon, including the long term."— Moody's Investors Service
Why it matters: Carbon transition risk is already built into Moody's existing credit ratings, but it's not a large part of those ratings, largely because it's far from clear that a major carbon transition is actually going to happen.