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OVERNIGHT ENERGY: IEA calls for no new investment in fossil fuels in net-zero plan | Biden frames EV goals as competition with China | US considering carbon import tax, Kerry says

OVERNIGHT ENERGY: IEA calls for no new investment in fossil fuels in net-zero plan | Biden frames EV goals as competition with China | US considering carbon import tax, Kerry says

HAPPY TUESDAY!  Welcome to Overnight Energy, your source for the day’s energy and environment news.Please send tips and comments to Rachel Frazin at [email protected] . Follow her on Twitter: @RachelFrazin. Reach Zack Budryk at [email protected] or follow him on Twitter: @BudrykZack. Signup for our newsletter and others HERE

Today we’re looking at a global energy agency’s zero-emissions plan, which doesn’t include new investment in the fossil fuel supply, President BidenOVERNIGHT ENERGY: IEA calls for no new investment in fossil fuels in net-zero plan | Biden frames EV goals as competition with China | US considering carbon import tax, Kerry saysJoe BidenBiden’s quiet diplomacy under pressure as Israel-Hamas fighting intensifies Overnight Defense: Administration approves 5M arms sale to Israel | Biden backs ceasefire in call with Netanyahu | Military sexual assault reform push reaches turning point CDC mask update sparks confusion, opposition MORE’s trip to an EV plant in Michigan and special envoy John KerryJohn KerryBiden’s climate policies: Adrift in economic and scientific fantasyland The Hill’s Morning Report – Presented by Facebook – Biden expresses optimism on bipartisanship; Cheney ousted Watch live: John Kerry testifies on climate change MORE’s remarks about potentially raising costs on imports from countries that don’t tax polluters. 

NO INVESTMENT FOR YOU: IEA calls for no new investment in fossil fuels in net-zero plan

The International Energy Agency (IEA) is calling for no new investment in fossil fuel supply in a roadmap it laid out on Tuesday for reaching net-zero emissions by 2050.

The IEA said in its report that its “narrow and extremely challenging” pathway to net-zero by that date contains no new oil and gas fields approved for development and no new coal mines or mine extensions beyond those the world has already committed to as of this year. 

The plan also calls for ending the sale of gasoline-powered passenger cars by 2035 and phasing out unabated coal and oil power plants by 2040. 

The IEA is an influential agency that launched in the 1970s to help coordinate a response to oil supply disruptions. 

Read more about the report here.

RIDIN’ WITH BIDEN: Biden frames EV goals as competition with China in Michigan visit

President Biden on Tuesday used a trip to a Ford plant to make the case for his proposed $174 billion investment in electric vehicles (EV), saying his plan is necessary in order to “win the competition of the 21st century” and outpace China.

“The future of the auto industry is electric. There is no going back,” Biden said in remarks from Ford’s EV plant in Dearborn, Mich. “Right now China is leading in this race. Make no bones about it. This is a fact.”

“Folks, the rest of the world is moving fast. They’re moving ahead. They’re not waiting for the United States of America,” he added. “We have a playbook that’ll work. We’re going to set a new pace for electric vehicles.”

In case you forgot what all this infrastructure fuss is about…Biden has proposed the investments over a decade as part of his $2.3 trillion infrastructure proposal, which would fund repairs of traditional infrastructure like roads and bridges, expand broadband, and invest in new technologies and research and development to address climate change. 

On EV, the plan specifically pitches incentive programs with the goal of building out 500,000 EV charges by 2030, replacing 50,000 diesel transit vehicles and electrifying at least 20 percent of the yellow school bus fleet. 

Read more about his visit here

And…Biden took one of the trucks for a spin. Read about that here.

KEEP CALM AND KERRY ON: US considering carbon import tax, Kerry says 

The U.S. is looking at potentially adding costs to imports from countries that don’t put heavy taxes on polluters, climate envoy John Kerry said Tuesday. 

Kerry said that President Biden told officials to look at “what are the consequences, how do you do the pricing, what is the impact” of such a policy, according to The Associated Press.

“But he wants to make sure we’ve thoroughly vetted it and thought about it as a matter of policy, particularly because our friends are doing so,” Kerry said. 

“But we do have some concerns about what the downstream impact might be, and we want to understand that fully before jumping on this,” the former secretary of State added. 

Read more about the potential cost additions here.

STREAMING SERVICE: Biden reportedly waiving sanctions for Nord Stream 2 pipeline firm

The State Department is set to waive sanctions that would affect the construction of a Russian company’s pipeline into Germany, Axios reported Tuesday, citing two sources briefed on the matter.

In its mandatory 90-day report to Congress, the Biden administration will concede that both the corporate entity behind the pipeline, Nord Stream 2 AG, and CEO Matthias Warnig, are engaging in sanctionable conduct. However, the department will suspend application of those sanctions, but apply sanctions to Russian ships involved in the construction.

Fully halting the 95 percent complete project would likely require sanctioning German entities as well, the sources told Axios, and the White House has decided against applying such pressure to the U.S.-German relationship.

The completion of the pipeline would allow fuel from Russia to bypass Ukraine to reach Europe, undermining the nation’s connection to western Europe. Secretary of State Antony BlinkenAntony BlinkenBiden’s quiet diplomacy under pressure as Israel-Hamas fighting intensifies Overnight Defense: Administration approves 5M arms sale to Israel | Biden backs ceasefire in call with Netanyahu | Military sexual assault reform push reaches turning point Psaki won’t say if Biden has seen Israeli intel on AP Gaza building MORE previously said in his confirmation hearing earlier this year that “I am determined to do whatever we can to prevent [the pipeline’s] completion.”

Read more about what’s reportedly going on here.

ON TAP TOMORROW:

WHAT WE’RE READING:

This Biden pick has worked for top offshore wind firms. Now he’s poised to help oversee the industry, The Washington Post reports

California’s next climate challenge: Replacing its last nuclear power plant, The Los Angeles Times reports

Louisiana group files international human rights appeal over Denka air pollution, nola.com reports

Conservation groups launch Piney Point lawsuit, alleging neglect at contaminated site, The Bradenton Herald reports

Bureau of Land Management surveys staff on move back to Washington, E&E News reports

ICYMI: Stories from Tuesday….

Kerry: US considering carbon import tax

Senate Democrats unveil resolution calling for carbon-free electric sector by 2035

Study: Climate change increased Superstorm Sandy damage by $8B

Biden test-drives electric truck during stop in Michigan

Biden waiving sanctions for Nord Stream 2 pipeline firm: report

Biden frames electric vehicle goals as competition with China in Michigan visit

Colonial Pipeline servers experiencing ‘intermittent disruptions’ days after ransomware attack

Top Interior lawyer nominee quizzed over public records law

IEA calls for no new investment in fossil fuels as part of net-zero plan

OFF-BEAT AND OFFBEAT:  Only in Canada

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