Good morning! Today's Smart Brevity count: 1,171 words, < 5 minutes.
Breaking: "The Trump administration filed suit Wednesday to shut down California’s emissions-trading market designed to limit air pollution, claiming it is unconstitutional because one of the participants is the Canadian province of Quebec," the Wall Street Journal reports.
And on this date in 1972, Al Green released "I'm Still In Love With You," which provides today's all-timer of an intro tune...
Photo: Beata Zawrzel/NurPhoto via Getty Images
The Silicon Valley electric automaker will report its Q3 earnings after markets close today.
Why it matters: Tesla is struggling to turn the corner to profitability, even though the Model 3 is by far the best-selling EV in the U.S. More broadly, the company is an important player in pushing EVs closer to the mainstream.
The big picture: Delivering more cars — and Tesla already announced a record quarter on that front — isn't yet a recipe for financial health, especially as the lower margin Model 3 is increasingly its dominant product.
Flashback: Tesla reported a net loss of $408 million in Q2. CEO Elon Musk said at the time that he expects to be "around breakeven" in Q3 and profitable in Q4.
Where it stands: Per MarketWatch, analysts polled by FactSet predict an adjusted loss of 46 cents per share. And they also report that for "the first time in more than a decade, Tesla is looking at a year-over-year dip in quarterly revenue."
What we're watching: Beyond the numbers, Tesla-watchers will have an ear out for updates on vehicles still in development, including the semi-truck and the Model Y crossover slated for production next year.
Two big things happened yesterday in the legal fight over Big Oil and global warming.
Driving the news part 1: Attorneys for ExxonMobil and New York state drew battle lines in the opening day of the state Supreme Court trial over whether Exxon misled investors and the public about how climate regulations could affect its business.
Driving the news part 2: "The [U.S.] Supreme Court on Tuesday rejected a request from more than two dozen multinational energy companies to block a state court lawsuit brought by the city of Baltimore seeking to hold the companies accountable for their role in changing the earth’s climate," the New York Times reports.
The U.S. is now exporting crude oil to more nations than it's importing from, the Energy Information Administration said in a new analysis out Tuesday.
Why it matters: The inflection point highlights the U.S. emergence as a crude export powerhouse and falling import reliance thanks to the domestic production surge.
Where it stands: In the first seven months of the year, the U.S. imported crude from a maximum of 27 nations in a given month, compared to as many as 37 a decade earlier, per EIA.
Two senators are launching a new ad-hoc group aimed at fostering bipartisan cooperation on climate change.
Driving the news: Democrat Chris Coons and Republican Mike Braun are launching a Senate Climate Solutions Caucus, per multiple reports. The Washington Examiner writes that Republican Lisa Murkowski, who chairs the Energy and Natural Resources Committee, will join the effort.
The big picture: Coons, in remarks to NBC News, laid out some areas of potential cooperation. "Bipartisan ideas already exist — from improving energy efficiency and investing in R&D to supporting energy security and workforce development," he said.
Quick take: The formation comes on the heels of a fresh reminder that while modest agreements may be possible, Democrats face massive hurdles if they seek to advance sweeping legislation to sharply cut emissions.
What they're saying: "The Democratic defections underscore our view that even if Democrats take the Senate and White House in 2020, the need for moderate support within their caucus will force them to temper their most aggressive environmental policy ambitions to have any chance at passage," Rapidan Energy Group said in a note last week.
Nissan Ariya Concept. Courtesy of Nissan
Nissan unveiled its Ariya electric crossover concept at the Tokyo Motor Show today.
Why it matters: SUVs and crossovers are immensely popular, so new electrified offerings tend to catch my attention.
But, but, but: It's unclear when it might join Nissan's nearly decade-old Leaf EV as a mass-market product.
The intrigue: The company's announcement offered no information on expected range or price. But Automotive News reported last month that they've been previewing a crossover EV to dealers with a 300-mile range (h/t Engadget).
Go deeper: Nissan Ariya Concept previews the Leafmaker's new electric SUV (CNET)
"We're all living here, so we must have some impact."
Who said it: Deputy Energy Secretary Dan Brouillette, responding in writing to climate change questions from senators vetting his nomination in 2017. He used the same phrasing during his confirmation hearing that year.
Why it matters: President Trump is nominating the former auto industry and telecom lobbyist to replace outgoing Energy Secretary Rick Perry.
Between the lines: With "some impact," Brouillette is among many Trump officials who break with the consensus scientific view that human activity is the overwhelming driver of warming.
What's next: Brouillette's written answers also said: "I look forward to getting a better understanding of the dynamics."