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Free Access14:45 ET 19:45 BST: President Biden To Deliver Remarks On Climate
14:45 ET 19:45 BST: President Joe Biden will head to Somerset, Massachusetts today to outline executive actions to tackle what the White House believes is an escalating climate crisis.
- The move comes after Senator Joe Manchin (D-WV) scuttled the Democrats’ domestic agenda for a second time by refusing to agree to wide-ranging climate and tax reforms in a slimmed down reconciliation bill.
- There has been speculation this week that Biden would use the opportunity to declare a climate emergency to access additional federal funds, but White House press secretary Karine Jean-Pierre said yesterday that declaring a climate emergency is “not on the table for this week" [but] "We are still considering it.”
- Foreign Policy: “Invoking emergency powers would allow Biden more leeway in a number of areas—from boosting renewable energy to blocking fossil fuel projects—and even reinstating a ban on crude oil exports.”
- Axios: "The [emergency declaration] could be used as a legal basis to block oil and gas drilling or other projects, although such actions would likely be challenged in court by energy companies or Republican-led states."
- The Guardian: “What will it mean if Biden declares a climate emergency? The president’s ability to work around Congress remains limited and the impact of declaring a climate emergency, for all its symbolism, remains ambiguous.”
- Climate policy expert Leah Stokes: “President Biden can use executive authority to make significant progress on climate. It’s not going to be as substantive as what we would have gotten through budget reconciliation, but it’s still absolutely crucial.”
- 12:40 ET 17:40 BST: Pres Sec Jean-Pierre will provide a press gaggle aboard Air Force 1 alongside National Climate Advisor Gina McCarthy which will be livestream here: https://www.youtube.com/watch?v=UUO3-G54Hhc
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.