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Illustration: Aïda Amer/Axios

Expect President Trump to redouble his efforts loosening regulations and questioning climate-change science should he win re-election next month.

Driving the news: A second Trump administration would supercharge efforts by certain states, countries and companies to address global warming. But some wildcards could have a greener tinge.

Where it stands: Let’s take a look at the highlights when it comes to a potential second Trump administration. Next week, I’ll assess a potential Biden presidency.

Climate change

It’s a foregone conclusion that Trump will withdraw America from the Paris Climate Agreement on Nov. 4, the official day he’s able to do so. (It’s a chaotic coincidence that it comes a day after the election.)

  • Beyond that, people close to the administration say it’s likely he could move more aggressively to instill bureaucratic changes to processes and reports surrounding climate change.
  • In recent weeks, the National Oceanic Atmospheric Administration has hired two experts who question at least some tenets of mainstream climate-change science.

What I’m watching: Myron Ebell, director for energy and environment at the conservative Competitive Enterprise Institute, who was on the Trump transition team in 2016, says he hopes the Environmental Protection Agency will roll back its 2009 scientific finding that concluded greenhouse gases endanger public health and welfare. That finding underpins all federal climate regulations.

  • Ebell and other like-minded conservatives have been wanting Trump to undo that for years, but EPA has declined.
  • This move could be bolstered by a more conservative Supreme Court, assuming Amy Coney Barrett is confirmed. Justices could revisit a landmark 2007 high court decision that paved the way for the 2009 finding.

Yes, but: Other longtime Washington insiders say there’s a chance Trump could moderate his position dismissing climate change.

  • “I’m not sure what additional meaningful pressure there would be on this front," said Scott Segal, co-head of Bracewell Policy Research Group, a Washington, D.C.-based lobbying firm.
  • Segal said a reelected Trump wouldn't have to play to his base as much and instead could acknowledge the "clear market forces in favor of addressing carbon emissions and developing cleaner energy."
Beyond Washington

Some states, cities and other regions of the world would likely act even more aggressively to address climate change under a second Trump administration.

  • Notable recent moves include China’s aggression toward Trump’s climate agenda last week and California announcing it will ban sales of new gasoline-powered cars by 2035.

What I’m watching:

  1. Whether Europe follows through on an oft-mentioned remark (and veiled threat) that it may impose a border tax on imported goods coming from countries without similarly aggressive climate-change plans.
  2. To what degree cities and other localities in America and around the world seek to ban natural gas.
Wildcards

If Trump is going to pivot (that’s a big if), these two are near the top of the actions he could take:

  1. Supporting global and bipartisan efforts in Congress to clamp down on hydrofluorocarbons found in refrigerants of common appliances, like air conditioners. EPA has moved to roll back efforts on this front, despite rare universal business support. “That should move,” Segal said, citing the industry support and jobs it could create.
  2. Rejecting the Pebble Mine, a large gold and copper mine proposal located at a prominent salmon fishery in Alaska. Trump has already indicated he’s receptive to pressure from influential conservatives who oppose it given their penchant for fishing.
Regulations

Trump’s top focus here will be defending in court his aggressive — and constantly litigated — agenda undoing virtually everything then-President Barack Obama did on climate change and broader environmental regulations.

  • Trump supporters say they’re watching most closely the legal battle over the EPA’s effort to revoke a waiver California has had for more than a decade that allows it to set more aggressive greenhouse gas standards for vehicle tailpipes.
Oil, natural gas and coal

Trump is likely to continue extolling — and exploiting — America’s global dominance on oil and natural gas.

  • Bob McNally, founder and president of the consulting firm Rapidan Energy, expects Trump to keep “going to bat” for U.S. oil companies, via tweets and bilateral meetings, as OPEC and other producing nations keep coordinating on production cuts.
  • On coal, BloombergNEF speculates in a new election report that Trump may talk less about his 2016 campaign goal of reviving coal, considering it is “irredeemably void due to inexorable economic competition from natural gas and renewables.”
Renewable energy

Trump is likely to continue to mostly ignore and not prioritize renewable energy, but BloombergNEF says to expect the unexpected.

  • Simply assuming a second Trump term would be as devoid of support for renewables carries some minor risk, however,” BloombergNEF said in its recent report. “The president’s penchant for disruption and political opportunism complicate conventional forecasting.”

What I'm watching: I would closely follow how offshore wind fares. The industry has so far faced a lukewarm reception from the Interior Department, while the president himself is not a fan of wind.

Go deeper

Dec 2, 2020 - Technology

Showdown looms over digital services tax

Illustration: Sarah Grillo/Axios

A fight over foreign countries' efforts to tax big American tech companies' digital services is likely to come to a head in January just as Joe Biden takes office.

The big picture: Governments have failed to reach a broad multilateral agreement on how to structure such taxes. That could leave the American firms that dominate consumer digital services — including Google, Facebook and Apple — stuck with massive tax bills from different countries.

Trump's 2024 begins

Trump speaking to reporters in the White House on Thanksgiving. Photo: Erin Schaff - Pool/Getty Images

President Trump is likely to announce he'll run again in 2024, perhaps before this term even ends, sources tell Axios.

Why it matters: Trump has already set in motion two important strategies to stay relevant and freeze out other Republican rivals. 

Ben Geman, author of Generate
Dec 2, 2020 - Economy & Business

Corporate boards with women are more innovative on climate

Illustration: Aïda Amer/Axios

Having at least 30% women on corporate boards "makes a key difference to climate governance and innovation," per new analysis of thousands of companies from the research firm BloombergNEF.

Why it matters: Companies worldwide are coming under increased pressure to curb emissions, adopt cleaner tech and disclose emissions data.