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A fin whale surfaces near offshore oil rigs. Photo: David McNew/Getty Images

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 bottom line: 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:

  • Via E&E News: Chevron now says it backs a carbon tax, under certain terms. “It would have to be a ‘well-designed policy,'" spokesman Sean Comey said by email to the publication. That appears to be a shift from last year, when a Chevron spokeswoman told the same publication “that the company ‘does not support general calls for implementing a price on carbon.’”
  • Via Alaska Public Radio: “‘There’s been a real sea change in the last 18 months or so in how the oil industry approaches climate change as a financial issue,’ said Andrew Logan of Ceres, a Boston-based nonprofit that works with investors and companies to make the business case for environmentally friendly practices.”
  • Via Bloomberg: Goldman Sachs’ co-head of global natural resources, Gonzalo Garcia, said in a presentation at a conference in Norway Wednesday that “he’s probably spent more time talking with oil company executives about the energy shift and renewables in the last two years than the previous 23 put together.” Garcia says he predicts U.S. companies like Exxon and Chevron will invest in renewables like their counterparts in Europe.

Go deeper: Exxon, Chevron join global industry group on climate

Go deeper

Dan Primack, author of Pro Rata
8 mins ago - Politics & Policy

Democrats' billionaires tax explained

Illustration: Aïda Amer/Axios

There is now legislative language behind the push to tax American billionaires on unrealized capital gains, as Sen. Ron Wyden last night released his 107-page plan.

Why it matters: This would be a sea change in U.S. tax policy, which has only applied to realized gains (otherwise known as income).

54 mins ago - World

Scoop: Blinken protests Israel settlements approval in "tense" phone call

Benny Gantz (L) and Tony Blinken. Photo: Jacquelyn Martin/Pool/AFP via Getty

Secretary of State Tony Blinken protested the decision to approve 3,000 new housing units in Israeli settlements in the occupied West Bank during a tense phone call on Tuesday with Israeli Defense Minister Benny Gantz, three Israeli officials tell me.

Why it matters: This is the first time new construction in the settlements has been approved since President Biden assumed office, and the Biden administration had been privately pressing the Israeli government not to proceed.

The startup that wants to disrupt big internet providers

Illustration: Maura Losch/Axios

A new startup backed by funding from AOL founder Steve Case and Laurene Powell Jobs wants to break up broadband monopolies across the country.

Why it matters: Internet access has been crucial during the pandemic, but it's not ubiquitous, and it can be both slow and unaffordable in swaths of the country.