It’s COP Eve, and the whole world is watching

Presented by Chevron: Your guide to the political forces shaping the energy transformation

Nov 29, 2023 View in browser   By Joel Kirkland Presented by Chevron John Kerry, U.S. Special Presidential Envoy for Climate, walks at the venue for the COP28 U.N. Climate Summit, Wednesday, Nov. 29, 2023, in Dubai, United Arab Emirates. | Peter Dejong / AP Photo Sparks were flying ahead of Thursday’s start of the COP28 climate summit in Dubai — from accusations of oil industry scheming to tensions around what’s on and off the agenda. But hours to go before its start, U.N. climate talks got a win. The summit hosts released a draft deal that would lay out key details of a planned global fund meant to help poor nations cope with climate calamities,writes Zia Weise, Karl Mathiesen and Sara Schonhardt. (Still to be decided: How much money should go into it?) That could set up a busy and productive first day. If nearly 200 nations agree during the opening session on the fund’s hard-fought outline, that could remove a major source of acrimony from the conference agenda. From there, the United States and other rich countries will have to figure out how to find potentially hundreds of billions of dollars for island nations and other vulnerable communities. One provision, demanded by the U.S., says all contributions to the fund are voluntary. (And definitely don’t call these “reparations.”) “We think this fund — the way it’s designed — will meet the needs of vulnerable countries,” U.S. climate envoy John Kerry told reporters today. U.N. climate chief Simon Stiell called on nations to “put meat on the bones of this fund.” “That means putting real money on the table,” he said. “Table scraps won’t cut it.” The future of oil Perhaps the biggest issue overhanging the talks is what to do about the root cause of rising temperatures and sea level rise: the burning of fossil fuels. Conference host United Arab Emirates and other Middle East petrostates are expected to resist any proposal for a more rapid phaseout of oil. The conference comes as Saudi Arabia and U.S. oil producers are pulling down huge profits and funneling more into future oil and natural gas production. Tensions around the fact that the UAE is hosting the talks spilled over on Monday after the BBC published leaked documents alleging that the country planned to use its position to discuss oil and gas deals. Sultan al-Jaber, president of COP28 and chief executive of the UAE’s state-owned oil company, denounced the reports at a news conference today. “These allegations are false, not true, incorrect, and not accurate,” he said, “and it’s an attempt to undermine the work of the COP28 presidency.” All COP all the time The 12-day summit hasn’t even started yet but is already starting to gush news: — Vice President Kamala Harris will go to Dubai this week — and, her office says, is expected to join the round of world leader speeches.— The U.S. Chamber of Commerce says it’s bringing its largest-ever delegation ever to COP, representing more than 85 companies such as PepsiCo, IBM and General Electric. And POLITICO is there too. Our reporters have started landing in Dubai and will be a growing presence in Expo City in the coming days, giving readers a glimpse behind the curtain. So please stay tuned.   It's Wednesday — thank you for tuning in to POLITICO's Power Switch. I'm your host, Joel Kirkland. Power Switch is brought to you by the journalists behind E&E News and POLITICO Energy. Send your tips, comments, questions to jkirkland@eenews.net.   A message from Chevron: Progress means moving toward a lower carbon future. We’re producing renewable fuels that are lower carbon to work in engines on the road now.   Listen to today’s POLITICO Energy podcast Today in POLITICO Energy’s podcast: James Bikales breaks down the Biden administration's sluggish rollout of electric vehicle charging infrastructure.   GET A BACKSTAGE PASS TO COP28 WITH GLOBAL PLAYBOOK: Get insider access to the conference that sets the tone of the global climate agenda with POLITICO's Global Playbook newsletter. Authored by Suzanne Lynch, Global Playbook delivers exclusive, daily insights and comprehensive coverage that will keep you informed about the most crucial climate summit of the year. Dive deep into the critical discussions and developments at COP28 from Nov. 30 to Dec. 12. SUBSCRIBE NOW.     Power Centers The U.S. Supreme Court is seen on June 30, 2023 in Washington. | Kevin Dietsch/Getty Images Supreme Court could curb agency power The Supreme Court appeared prepared today to change the enforcement capabilities of federal agencies in a case closely watched by the energy industry, writes Pamela King. The conservative-dominated court questioned why the Securities and Exchange Commission — rather than a federal judge and jury — should handle an enforcement case against hedge fund manager George Jarkesy. Depending on the scope of their ruling in SEC v. Jarkesy, the justices could upend federal enforcement against polluters and pipeline builders. Energy Transfer, the developer behind the embattled Rover gas pipeline, has argued that a win for Jarkesy could help energy companies facing enforcement proceedings before the Federal Energy Regulatory Commission. The Rover project faces millions of dollars in fines for allegedly lying about removal of a historic farmhouse and spilling diesel-tainted drilling fluid into an Ohio waterway. O(il) Canada! Canada will likely reveal the details of its cap on oil and gas emissions during this week's climate talks in Dubai, writes Zi-Ann Lum. The cap is a signature election promise from Prime Minister Justin Trudeau, who pledged to cut emissions by 40-45 percent from 2005 levels by 2030. Zi-Ann spoke with Environment Minister Steven Guilbeault about the difficulties of communicating carbon pricing, which is opposed by the country's Conservative Party. Canada boasts the third-largest oil reserves in the world, making the fossil fuel sector a lightning rod for political debate. Gas export approval process is under scrutiny Advocacy groups are challenging the process for approving liquefied natural gas facilities in a series of court cases, writes Niina H. Farah. Permitting is divided between the Department of Energy and the Federal Energy Regulatory Commission, which has led to "a little bit of a buck-passing between the agencies,” said Sierra Club attorney Nathan Matthews. The Natural Gas Act requires DOE to approve gas exports to free-trade-agreement countries. The groups want FERC to place less emphasis on DOE decisions and give greater weight to climate risk factors when making its decision.   A message from Chevron:   In Other News Golden State's global stage: California leaders are preparing to have a big presence at the U.N. climate talks. OPEC's dilemma: The Organization of the Petroleum Exporting Countries meets Thursday to consider cutting output as oil prices fall and production from other countries, including the U.S., continues to grow.   A message from Chevron: Our partnerships enable us to make a bigger impact on the lifecycle carbon intensity of the transportation industry. Working with agriculture, transportation, and other allies, we’re aiming to continue scaling lower carbon intensity fuels. We’re also developing strong value chains to help keep producing renewable fuel solutions using a variety of feedstocks such as plant byproducts and cow manure. Taking these steps bring us closer to our target production capacity of 100,000 barrels of renewable fuels per day by 2030. Driving the world forward today, while forging new roads to the future. That’s energy in progress.   Subscriber Zone A showcase of some of our best subscriber content. Offshore wind turbines near Block Island, Rhode Island. | John Moore/AFP via Getty Images A historic preservation group in Rhode Island is suing to block construction of the South Fork Wind Project, saying it was approved without proper consideration of how it would harm historic sites and communities. A bipartisan nuclear energy package will not be part of the annual defense policy bill currently being negotiated in Congress. That's it for today, folks! Thanks for reading.   SUBSCRIBE TO CALIFORNIA CLIMATE: Climate change isn’t just about the weather. It's also about how we do business and create new policies, especially in California. So we have something cool for you: A brand-new California Climate newsletter. It's not just climate or science chat, it's your daily cheat sheet to understanding how the legislative landscape around climate change is shaking up industries across the Golden State. Subscribe now to California Climate to keep up with the changes.       Follow us on Twitter Arianna Skibell @ariannaskibell   Follow us

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