Situational awareness: "Tesla Inc. stopped online sales of the $35,000 base version of its Model 3 car weeks after introducing it, the latest shift in sales tactics as the company struggles to deliver long-promised affordability and avoid losing money," WSJ reports.
Onto music. We're going to stay in the 80s for this week's final musical reference. R.E.M. released "Murmur" on this day in 1983, so they'll bring us into the weekend...
Illustration: Sarah Grillo/Axios
Uber's big new IPO prospectus touts the company's green ambitions as it prepares for its multibillion dollar offering — and acknowledges that environmental policy is a risk factor.
Why it matters: Uber is going public amid growing scrutiny of ride-hailing's carbon footprint as research shows it can boost emissions by cannibalizing mass-transit and increasing miles driven.
Threat level: A line tucked into the global company's filing with securities regulators caught my attention. In the lengthy section about various risks, Uber acknowledges...
"[B]ecause a substantial portion of our business involves vehicles that run on fossil fuels, laws, regulations, or governmental actions seeking to curb air pollution or emissions may impact our business."
Where it stands: The filing says Uber aspires to play a "meaningful role in creating a sustainable, low-carbon future and addressing environmental challenges."
Between the lines: The role of ride-hailing and new mobility services generally is something of a wildcard in the future of urban carbon emissions.
What they're saying: Populus CEO Regina Clewlow, whose company provides a transportation data analytics platform for local governments, says it's up to cities to keep the environmental effects of mobility companies in check.
Illustration: Sarah Grillo/Axios
Oil-and-gas giant Chevron said today that it's acquiring the big independent player Anadarko Petroleum in a $33 billion cash and stock deal.
Why it matters: Chevron, the second-largest U.S.-based multinational oil company, said the move would bolster its position in key domestic onshore and offshore fields — notably the surging Permian Basin region of Texas and New Mexico, which produces over 4 million barrels of oil per day.
"The combination of Anadarko’s premier, high-quality assets with our advantaged portfolio strengthens our leading position in the Permian, builds on our deepwater Gulf of Mexico capabilities and will grow our LNG business."— Chevron CEO Mike Wirth, in statement
Quick take: The deal underscores how oil majors are aggressively expanding their operations in the onshore shale business, especially in the Permian.
Of note: The deal is not solely about bolstering U.S. assets, Chevron said. "Chevron will gain another world-class resource base in Mozambique to support growing LNG demand," the announcement notes.
What they're saying: It's the biggest acquisition among oil-and-gas producers since Shell announced the purchase of the BG Group in 2015, according to the consultancy Wood Mackenzie.
What's next: The transaction will be 75% stock and 25% cash with an overall value of $65 per share, the companies said. Both companies' boards have signed off on the deal, and they expect it to close during the second half of the year.
Add nuclear energy to the list of sectors caught up in President Trump’s protectionist trade agenda, Axios' Amy Harder reports.
Driving the news: The Commerce Department faces a Sunday deadline to tell Trump whether it recommends imposing quotas that require more domestic sourcing of uranium, the fuel used in nuclear plants.
The big picture: It's the latest example of afflicted domestic industries seeking to seize on a sympathetic president. This is at least the fourth such petition seeking trade barriers because of alleged national security concerns during the Trump era.
The other side: A coalition of big utilities, including Exelon and Duke Energy, argue uranium quotas would actually hurt America’s national security by increasing costs for nuclear power plants.
What’s next: Once he receives the report, Trump has 90 days to decide on a response to the recommendations.
Via Axios' Andrew Freedman...The Arctic region has been pushed into an entirely new climate, one that's outside the experience of longtime residents and native wildlife, shows a new report in the journal Environmental Research Letters.
Why it matters: The far north is undergoing profound changes that are affecting the rest of the world, from the melting of permafrost, which releases greenhouse gases, to the disappearance of sea ice.
The big picture: To understand how unusual and consequential Arctic warming is, one need only to look at recent events in Alaska, which this year experienced its warmest March on record, and warmest October through March. In fact, Alaska has had its warmest 6 years on record, too.
Where it stands: People across the state are coping with an unusually early start to spring, according to Dave Snider, a meteorologist with the National Weather Service in Alaska.
The No Oil Producing and Exporting Cartels Act (NOPEC) — previously introduced during both the Bush and Obama administrations — remains relatively under the radar, but could rattle global oil markets, writes Axios Expert Voices contributor Richard D. Kauzlarich.
The big picture: The bill aims to weaken OPEC by removing sovereign immunity from states that cooperate to influence oil production, thereby allowing for antitrust action.
The impact: Although the Trump administration wants to curb OPEC’s power, the organization's presence in recent years has brought price and trade stability to one of the world’s most valuable and strategic commodities.
Read more of the whole post.
Kauzlarich is a former U.S. ambassador and the co-director of the Center for Energy Science and Policy at George Mason University.