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Presented by Clean Fuels Alliance America: Your guide to the political forces shaping the energy transformation | | | | |  | | By Arianna Skibell | Presented by Clean Fuels Alliance America | |  Joe Biden shakes hands with Chinese President Xi Jinping in 2013. | Lintao Zhang/Getty Images | Global climate leaders sighed with collective relief this week as Presidents Joe Biden and Xi Jinping of China agreed to restart bilateral climate talks. The U.S. and China, the world’s two largest producers of planet-warming pollution, have increasingly been on the outs amid tensions over trade, Taiwan and other security issues, threatening to undermine international climate negotiations in Egypt this week. The pledges of renewed cooperation mark a breakthrough in global efforts to avert climate catastrophe. But the promise may be muted if it doesn’t spur ministers at the Group of 20 summit nearly 6,000 miles away in Bali, Indonesia, to commit to keeping atmospheric warming below 1.5 degrees Celsius, writes POLITICO’s E&E News reporter Sara Schonhardt. Biden and Xi met Monday in Bali, for the first time during Biden’s presidency. At an earlier G-20 meeting in August , climate ministers from the world’s largest economies did not reaffirm the Paris Agreement’s 1.5 C goal, raising concerns that countries could backtrack in Bali. Any signals leaders in Bali send could influence crucial negotiations in Egypt. The stakes are high. Exceeding 1.5 C could trigger multiple climate tipping points, according to a recent study in the journal Science. That could spell doom for polar ice caps, permafrost, and certain ecosystems and coral reefs. As Schonhardt notes, if the United States and China’s decision to reopen talks leads to a renewed climate alliance, the countries could use the summit in Egypt to reaffirm support for limiting global warming and cutting methane emissions. But if Biden and Xi go head-to-head over who pays for loss and damage compensation to developing nations, that major sticking point of the conference could unravel broader negotiations. Passage of the Inflation Reduction Act, which included a major investment in clean energy in the United States, could also influence the dynamic. While China is the world’s top investor in clean energy, the country has continued to approve new domestic coal projects. But with the U.S. ramping up its clean energy game, some analysts believe China may work harder to retain its competitive edge.
| | | It's Tuesday — 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.
| | | Today in POLITICO Energy’s podcast: Kelsey Tamborrino breaks down what House GOP committee chairs plan to do if Republicans win a narrow majority and the impact on the administration.
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A building damaged by Russian missiles in Ukraine on Nov. 15, 2022. | Andrew Kravchenko/AP | Russia has launched a major missile attack on Ukraine's energy system, plunging half of Kyiv in the dark. The 100-missile attack marks the largest coordinated strike on Ukraine's energy infrastructure since the start of the war. Ukraine's air defense system managed to shoot down a significant number of those missiles, the air force said on Twitter.
| | | | A message from Clean Fuels Alliance America: Clean fuels such as biodiesel, renewable diesel, and sustainable aviation fuel are good for our farmers, our rural and urban communities, our economy, our country, and our planet. Representing fuel and feedstock producers and other members, Clean Fuels Alliance America is moving the industry onward to an even brighter future. Learn more at cleanfuels.org. | | | | | | | 
Rep. Tom Cole (R-Okla.), a senior appropriator, at the Capitol Monday. | Francis Chung/E&E News | Permitting purgatory
After efforts fell apart this summer to revamp the permitting process for energy projects, lawmakers are intensifying negotiations ahead of a busy rush to the finish line in December, writes Nick Sobczyk. Sen. Joe Manchin (D-W.Va.) and other lawmakers want to streamline the approval process for both fossil fuel and renewable energy projects and want the compromise legislation to ride on the National Defense Authorization Act, which already includes an array of energy and environmental provisions. Inflation meets offshore wind
Interest rates, supply chain bottlenecks and inflation are threatening the Biden administration’s ambitious offshore wind targets, one of the president’s top climate priorities, write Benjamin Storrow and Heather Richards. The financial difficulties call into question the Biden administration’s goal of installing 30 gigawatts of offshore wind power by the end of this decade. “We don’t see them hitting that,” said Sam Huntington, an analyst with Global Commodity Insights. We've got a deal
A group of wealthy countries has secured a deal with Indonesia that would shift the major emitter’s power generation from coal to clean energy, write Sara Schonhardt and Zack Colman from Egypt. The $20 billion deal financed by governments and financial institutions would be one of the largest public investments ever made to shutter fossil fuel plants.
| | | | A message from Clean Fuels Alliance America:   | | | | | | |  Former President Donald Trump dances after he finished speaking at a campaign rally Nov. 7 in Ohio. | AP Photo/Michael Conroy | Look who's back: Former President Donald Trump storms back onto the energy scene. Population growth: The world population has officially reached 8 billion, the U.N. said. I want to ride my bicycle: A 72-year-old biked from Sweden to Egypt for the COP 27 climate conference as other attendees arrived on private jets. Now that's impressive.
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Plastic waste. | Pixabay | A key sponsor behind the world's leading climate conference has been named the top plastic polluter worldwide for the fifth straight year. The Sierra Club tapped former NAACP President Ben Jealous to serve as its next executive director, the first time a person of color has held the position. New York could enact a sweeping policy to limit greenhouse gas emissions from all sectors of the economy under a portion of the draft climate plan. That's it for today, folks! Thanks for reading.
| | | | A message from Clean Fuels Alliance America: Clean fuels such as biodiesel, renewable diesel, and sustainable aviation fuel are good for our farmers, our rural and urban communities, our economy, our country, and our planet. In fact, the economic impacts of the clean fuels industry are significant. As of 2021, the clean fuels industry contributed a total U.S. economic impact (direct, indirect, induced) of $23.2 billion; supported 75,200 U.S. jobs throughout the economy/country; and paid $3.6 billion in wages. Representing fuel and feedstock producers and other members, Clean Fuels Alliance America is moving the industry onward to an even brighter future. Learn more at cleanfuels.org. | | | | | | | Less than one month to go to our POLITICO Live’s Sustainable Future Week! From November 29 to December 1, we will delve into climate geopolitics, the circular economy, green energy, mobility, and tech. Limited spots to join us in Brussels for exclusive closed-door debates and networking moments with top policymakers and industry leaders. Find out who is joining us and register today . | | | | | | | | | Follow us on Twitter | | | | Follow us | | | | |  |
