Good morning and welcome back. Please check the Axios stream for updated election coverage all day.
But yesterday wasn't only election day. Nov. 6 was also the 1990 release date of The Scorpions' "Crazy World." So let's mark the electoral tumult with this cheesy-yet-very-good fare...
The House takeover by the Democrats will bring intense new congressional oversight of President Trump's moves on energy and climate change.
Why it matters: House Democrats can now set the agenda and even issue subpoenas.
Threat level: While Democrats can make life tougher for Trump cabinet officials, it remains to be seen how much they can slow down the agenda.
"Authorizing committees can take up Executive Branch bandwidth with oversight hearings. Appropriators can constrain Executive branch options with riders and by limiting reprogramming requests."— Kevin Book, managing director, ClearView Energy Partners
The Houston Chronicle reported earlier this week that ahead of the Dems' win...
"[L]obbyists in Washington are already gearing up for an oversight process expected to delve into how the administration went about moves such as easing limits on methane emissions and the expansion of lease sales on federal lands."
And Utility Dive makes this point about Rep. Frank Pallone, the New Jersey Democrat likely to chair the powerful House Energy and Commerce Committee:
"Pallone has been a forceful critic of the White House's proposed support packages for coal and nuclear plants in hearings this year, and could move to subpoena records from DOE and other agencies showing how those plans were crafted."
The intrigue: Democrats seem more likely to keep the focus on the Trump administration than prioritize a sweeping legislative package on carbon pricing and energy.
Yes, but: That said, look for some legislative efforts on zero-carbon energy. One area is likely to be a push to include various low-carbon energy provisions in an infrastructure package.
Illustration: Rebecca Zisser/Axios
The oil industry and a big utility fended off 3 ballot initiatives that would have been bad for their businesses after pouring millions of dollars into separate efforts across a trio of Western states, Axios' Amy Harder reports.
Why it matters: The industry wins are stark examples of how money-fueled negative messaging can persuade voters. It also shows how fights over energy policy have moved to the states as the issue remains mostly off the table in D.C.
By the numbers: Collectively, incumbent energy companies spent nearly $100 million fighting the proposals.
Yes, but: At least 2 big energy-related ballot initiatives did pass though.
What’s next: The Washington and Colorado fights were largely seen as bellwethers for whether other states could pass similar policies, so losses there are a blow to any momentum.
Florida GOP Rep. Carlos Curbelo lost re-election Tuesday to his Democrat challenger, Debbie Mucarsel-Powell.
Why it matters: As Amy noted last night, Curbelo co-founded the bipartisan Climate Solutions Caucus, and more broadly has been something of a maverick GOP voice on climate change.
More from her item...
The big picture: The Climate Solutions Caucus is losing a large chunk of its GOP lawmakers thanks to Democratic gains last night and retirements.
What's next: "We're expecting the caucus will continue despite Curbelo's loss. We're confident another Republican will step up to co-chair the caucus," said Steve Valk of the Citizens' Climate Lobby, which works with the House group.
The intrigue: The now-ousted Curbelo and the group occupy an unusual spot in climate policy and politics.
State of the market: Oil prices are climbing on Wednesday morning with Brent crude back above $73-per-barrel.
"Ministers from the group gathering in Abu Dhabi this weekend will discuss the possibility of cutting production again next year, according to delegates, a move that would mark an abrupt end to six months of supply increases."
12.1 million barrels per day: That's the updated Energy Information Administration forecast for daily U.S. crude oil production next year, a rise of 300,000 bpd over last month's estimate.
Why it matters: The rise shows how U.S. production has "exceeded EIA’s previous expectations," said Linda Capuano, the agency's director, in a statement yesterday.
Go deeper: Reuters has more on the EIA projections here.
Let's take another break from the election coverage!
A pair of Center for Strategic and International Studies analysts are out with a look at China's robust government subsidies aimed at growing the electric vehicle industry — and potential unwelcome consequences.
Why it matters: China is the world's largest auto market and EV sales are growing quickly there, surpassing 1 million this year alone (by contrast, that's roughly the total ever sold in the U.S.)
By the numbers: CSIS' Scott Kennedy and Mingda Qiu calculate that between 2009 and 2017, Chinese national and state authorities invested $58 billion in the industry.
But, but, but: They argue that China's heavy support comes with a suite of risks. One is that with so many EV producers, it will be "nearly impossible" for any of them to become profitable in the near future.
Between the lines: "[T]he result could be millions of Chinese cars dumped on global markets, which could threaten the livelihoods of producers up and down the supply chain that are not the beneficiaries of the Chinese state’s deep pockets," they write.
Read more of the whole piece.