Good morning! Today's Smart Brevity count: 1,294 words, ~ 5 minutes.
Illustration: Aïda Amer/Axios
By now you probably know the U.S. just started the one-year clock to formally abandon the Paris climate deal. (And Axios' Amy Harder can bring you up to speed.)
One big question: Will the U.S. move affect other big polluters' climate efforts, especially as new national pledges under the pact come due next year?
Where it stands: The federal posture going forward depends on the 2020 election outcome. The NYT's Lisa Friedman reports that "supporters of the pact say they have to plan for a future without American cooperation."
Speaking of the election, every Democratic White House candidate has pledged to re-enter the pact, which can happen relatively fast under its rules.
The intrigue: Trump's rejection of Paris puts him at least rhetorically at odds with some major corporate interests.
What they're saying: If you asked the Chamber, you got this statement: "The Chamber supports U.S. participation in the Paris Agreement because greater collaboration between governments and businesses is essential to tackling the climate challenge."
Go deeper: Trump makes it official: U.S. will withdraw from the Paris climate accord (The Washington Post)
This is an important line from the NYT's coverage of the Saudi Aramco IPO plan...
"Aramco’s ability to attract investors may [be] undermined by doubts about the future of fossil fuels, as climate change drives interest in renewable energy."
Why it matters: At this point, it's tough to think about long-term investments in a major oil producer — the world's biggest, in fact — without climate entering the equation.
But, but, but: It's not so clear that carbon constraints or peak demand would be Aramco's enemy, at least not for decades.
What they're saying: Atlantic Council energy and climate expert David Livingston notes that once crude demand peaks and begins to decline, there will still be decades with lots of oil thirst, but perhaps at lower prices.
The bottom line: "Whether being king of a slowly atrophying industry is attractive enough to justify a premium from investors is another question, however, and one that we will all be watching closely in the months and years ahead," Livingston said.
The new IEA report on energy efficiency offers a bunch of reasons why efficiency gains are slowing. One that caught my eye: the way we live.
The big picture: "In residential buildings, structural changes have consistently matched or outpaced efficiency gains since 2014," IEA notes in a summary.
Go deeper: Global energy efficiency gains are slowing (Axios Generate, Nov. 4)
The battery startup Sila Nanotechnologies has raised another $45 million and expanded its leadership team with two clean tech industry veterans.
Why it matters: The San Francisco Bay-area company's technology uses silicon-based anodes instead of graphite as a way to create more energy-rich batteries.
Where it stands: Bill Mulligan, a former executive VP at SunPower, will be the first COO. Kurt Kelty, a former Tesla and Panasonic exec, will be Sila's VP of automotive.
The big picture: It brings total funding to $340 million for the company whose CEO says it has a value of over $1 billion.
Amy reports ... The American Psychological Association is holding its first-ever conference on climate change, the group announced Monday.
Driving the news: The event, to be held Nov. 14–16 in Lisbon, Portugal, includes a keynote speech by UN Secretary General António Guterres.
One level deeper: The organizers hope to emerge from the conference with a unified voice for aggressive action on climate change from psychology groups, which are not a well-known voice on a matter dominated by energy and environmental interests.
What they’re saying: A draft resolution on the event’s website says in part that “the resistance of some individuals worldwide to accept evidence of climate crisis reflects a variety of psychological, social, economic, and political factors.”
Our thought bubble, per Amy: A host of factors is stifling action on climate change, including lobbying from fossil fuel companies and Republicans who don’t engage on the topic much at all.
Go deeper: Read two of Amy’s recent Harder Line columns on the topic...
OPEC: S&P Global Platts offers important details from OPEC's just-released World Energy Outlook. The annual report forecasts that "global oil producers would need to pump 12% more oil in 2040 from current levels to meet expected demand of 110.6 million b/d."
Arctic: Alaska Public Media reports that the Trump administration won't hit its goal of selling drilling leases in the Arctic National Wildlife Refuge this year. The bureaucratic procedures won't happen fast enough.