| | | | |  | | By Arianna Skibell | Presented by Chevron | | 
Steel being loaded onto a truck at a plant in Portage, Indiana. | Scott Olson/AFP via Getty Images | President Joe Biden is pushing to triple tariffs on Chinese imports of steel and aluminum to encourage domestic manufacturing and slash carbon pollution. In addition to potentially winning over Midwestern voters, boosting U.S. steel and aluminum could cut emissions from shipping and aviation — major sources of planet-warming pollution — while ensuring production adheres to stronger environmental regulations. Steel is one of the most carbon-intensive industries, accounting for roughly 8 percent of global energy sector emissions, and producers in China typically use coal and old, inefficient furnaces to make it, writes Brian Dabbs. The Biden administration hopes increased tariffs would address what officials called an “overcapacity” of Chinese steel in America. The proposal comes after the Department of Energy announced billions of dollars for “green” U.S. steel and aluminum projects. “China’s subsidies and other forms of support lead to exports flooding global markets at artificially low prices undercutting American steel that is cleaner,” White House economic adviser Lael Brainard told reporters. But increasing domestic manufacturing is not a silver bullet for greening the industry. The production of aluminum — a critical ingredient in everything from solar panels to power lines — requires near-constant electricity at high volumes, which can rack up quite an emissions tab. The massive energy consumption also means making aluminum is expensive, one reason the nation’s plants are closing at a steady clip. Only four factories remain in the country, and just two are running at full capacity. U.S. companies are also trailing European competitors when it comes to producing steel without greenhouse gas emissions. Swedish firms have already demonstrated zero-emissions steel and inked contracts with companies like Volvo.
| | | It's Wednesday — thank you for tuning in to POLITICO's Power Switch. I'm your host, Arianna Skibell. Power Switch is brought to you by the journalists behind E&E News and POLITICO Energy. Send your tips, comments, questions to askibell@eenews.net.
| | | | A message from Chevron: Chevron knows methane management is critical for a lower carbon future. We’re striving to lead in methane management with innovative practices, partnerships, and new technologies. These are a few ways we’re aiming to keep methane in the pipe. | | | | | | Today in POLITICO Energy’s podcast: Zack Colman breaks down the obstacles the World Bank faces in helping world governments fight climate change.
| | | | A message from Chevron:   | | | | | | | 
President Joe Biden gestures during a campaign event in Scranton, Pennsylvania, April 16, 2024. | Matt Rourke/AP | Biden looks to cement green legacy
Biden is waging an administrationwide campaign to shore up his climate and conservation record as the presidential election and a major regulatory deadline approaches, writes Robin Bravender. In the coming weeks, Biden is expected to expand national monuments in California, release a long-awaited climate rule for power plants, finalize a hot-button regulation aimed at boosting conservation of public lands and finish unraveling Trump-era changes to the nation’s bedrock environmental law — to name a few. Would Trump quit the World Bank?
A conservative road map for a potential second Trump administration would have the president exit the World Bank, a move that could topple global efforts to address climate change, write Sara Schonhardt and Scott Waldman. Withdrawing could also undermine the bank as an institution. Without the U.S. — its largest shareholder — making contributions, the bank could struggle to draw in more funding.
| | 'I hate wind': Former President Donald Trump railed against wind energy in a fundraising pitch to oil executives. Economic damage: A new study calculated that climate change’s economic bite will hit about $38 trillion a year by 2049.
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EPA Administrator Michael Regan stands near a petroleum refinery as he conducts a television interview, while touring neighborhoods that abut the refinery, in Reserve, Louisiana. | Gerald Herbert/AP | Turnover in high-profile EPA positions has sparked fears about the Biden administration’s unprecedented funding to marginalized communities as the election draws near. Amid mounting complaints from developing nations over Group of Seven nations' energy policies, World Bank President Ajay Banga said it’s not his job to prod G-7 governments to cut fossil fuel spending. The Supreme Court ruled unanimously Tuesday that Texas property owners can sue the state for compensation from flood damage after Hurricane Harvey and Tropical Storm Imelda. That's it for today, folks! Thanks for reading.
| | | | POLITICO IS BACK AT THE 2024 MILKEN INSTITUTE GLOBAL CONFERENCE: POLITICO will again be your eyes and ears at the 27th Annual Milken Institute Global Conference in Los Angeles from May 5-8 with exclusive, daily, reporting in our Global Playbook newsletter. Suzanne Lynch will be on the ground covering the biggest moments, behind-the-scenes buzz and on-stage insights from global leaders in health, finance, tech, philanthropy and beyond. Get a front-row seat to where the most interesting minds and top global leaders confront the world’s most pressing and complex challenges — subscribe today. | | | | | | | | | A message from Chevron: By 2028, our upstream methane intensity target is set to be 53% below the 2016 baseline. To help us get there, we’ve trialed over 13 advanced methane technologies including satellites, planes, drones, and fixed sensors to help reduce methane emissions intensity. In the Permian, we have deployed real-time autonomous optimizers that continuously monitor facilities and well conditions to help prevent flaring, venting and well shutdowns. Developing new solutions to provide energy that’s affordable, reliable and ever-cleaner, that’s energy in progress. | | | | | | | Follow us on Twitter | | | | Follow us | | | | |
