Situational awareness: Per Reuters, "The Trump administration on Thursday eased safety rules on offshore oil and gas production put in place after the deadly 2010 BP Plc Deepwater Horizon disaster, as part of its effort to slash regulations and boost the energy industry."
Sunday will mark 21 years since Bob Dylan released "Time Out Of Mind," so let's close our eyes and wonder if everything is as hollow as it seems...
Three developments this week together tell a story of the present and future of U.S. nuclear power.
Driving the news: A federal appellate court yesterday upheld New York's zero emissions credits (ZEC) program that subsidizes nuclear plants.
Why it matters: The decisions bolster efforts in several states to prop up nuclear plants facing severe market pressures.
The big picture: The New York decision arrived a day after owners of a badly over-budget project to build two big reactors in Georgia struck an 11th-hour deal to keep construction going.
That brings me to...
What's next: A new report says the path forward for new U.S. nuclear development lies with development and commercial deployment of small "microreactors."
Illustration: Sarah Grillo/Axios
Tesla's stock is down 12% in pre-market trading following yesterday's Securities and Commission complaint against CEO Elon Musk for allegedly making false statements related to his abandoned efforts to take Tesla Motors private.
Why it matters: Musk could be barred from serving as CEO of Tesla, or even as a director on its board.
Where it stands: Here's more from my colleague Dan Primack's coverage yesterday...
The intrigue: The Wall Street Journal has some fascinating reporting about the high drama around Thursday's SEC action. Citing sources familiar with the matter, they report:
The SEC had crafted a settlement with Mr. Musk — approved by the agency’s commissioners — that it was preparing to file Thursday morning when Mr. Musk’s lawyers called to tell the SEC lawyers in San Francisco that they were no longer interested in proceeding with the agreement.
After the phone call, the SEC rushed to pull together the complaint that it subsequently filed, the people said.
What they're saying: Musk called the complaint an "unjustified action."
Illustration: Rebecca Zisser/Axios
Axios' Steve LeVine reports ... When the world's automakers are scrambling to retool into electric and driverless mobility companies, they are thinking about this number: 1 billion.
That's how many cars that are estimated will be added to the global fleet as early as 2030, igniting a frenzy over who will capture the sale of these probably much cleaner, higher-tech vehicles.
Why it matters: 1 billion is a large number. It's double the current number of cars on the road. And, at a rate of 80 million cars sold annually around the world, it's sufficient to build and sustain numerous trillion-dollar companies, a geopolitically defining scale of wealth.
What's going on: By the second half of the next decade, the cost of electric and combustion drive trains will converge, and then cross over, according to Bloomberg NEF. Electric cars will become cheaper than conventional combustion systems, the analysis says.
Go deeper: Read Steve's full story in the Axios stream.
Axios’ Amy Harder writes ... A trio of recent articles caught my eye that crystallize a trend we cover a lot here at Axios about oil companies and climate change.
The bottom line: A tangible shift over the last two years is sharpening among the world’s biggest oil companies, including in America, to more readily acknowledge and address climate change.
The trend, fueled by investor and lawsuit pressure, is underway regardless of, and partly in response to, President Trump’s retreat on the matter.
Driving the news:
National Grid's Terry Sobolewski writes for Axios ... The recent pace of emission reductions in New York and New England is insufficient to meet 2050 CO2 emissions targets, set at an 80% reduction from 1990 levels, according to the most recent data published by the Energy Information Administration.
In fact, at recent emission reduction rates, the Northeast region will struggle to make it even halfway to its goal.
The big picture: While the power sector has made progress, transportation emissions across the Northeast remain stubbornly at or above 1990 levels, and now account for over 40% of all energy-related emissions (e.g., transportation, heating and power generation).
Without continued decarbonization of the electric sector, electrification of the transportation sector, and accelerated progress in the heating sector, the Northeast will fall far short of its goal.
In light of the magnitude of the transportation challenge, here are some key initiatives that would help the Northeast meet its 2030 emissions targets:
South Boston’s iconic pink Edison Power Plant won’t be around much longer, but it can now live on in two new mesmerizing music videos by local artist collective Masary Studios.— Boston Magazine reports
Captivating light displays and haunting musical scores highlight the grandeur of the centuries-old facility that’s slated to be redeveloped over the next decade.