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Overnight Energy & Environment Biden Fed picks up after climate stance fight

Overnight Energy & Environment Biden Fed picks up after climate stance fight

Virginia exits multi-state coalition backing EPA in climate lawsuit

Welcome to Tuesdays Night Energy & Environment,The latest news and information on energy, environment, and everything in between. Subscribe here thehill.com/newsletter-signup.

Today we are looking at Sarah Bloom Raskin’s withdrawal from consideration and Virginia Gov. Glenn YoungkinGlenn YoungkinVirginia school district push back against Youngkin’s plans. The Memo: Biden, Democrats feel a new political pain about inflation. Where have you gone Laura Bush? MORETrump nominated EPA chief Andrew WheelerAndrew WheelerOvernight Energy & Environment manchin threatens Fed nomination over climate lobbying world Overnight Energy & Environment Virginia legislators block ex-Trump EPA headAs an adviser.

Rachel Frazin was the editor of The Hill. Zack Budryk was the vice-president. Send us your tips: [email protected] [email protected]. Follow us on twitter: @RachelFrazin @BudrykZack.

Lets jump in.

Nomination of Fed vice chair by Raskin withdrawn

Sarah Bloom Raskin (who President BidenJoe BidenSaudi Arabia invites China’s Xi to Riyadh: Report Biden attends an in-person DNC fundraiser for climate agenda. Man is charged with attempted murder and hate crimes after a NY Asian woman punched 125 moreNominated to serve the Federal Reserve vice chairof supervision, she withdrew Tuesday from consideration after three moderate senators effectively blocked her way to confirmation.

On Tuesday, Raskin wrote a letter to Biden requesting that he withdraw her nomination amid the constant attacks by special interests. The New Yorker first reported Tuesday. Her withdrawal comes a day after Sens. Joe ManchinJoe ManchinBiden attends a DNC fundraiser in person to promote climate agenda On the Money War, lockdowns increase inflation risk Banking chairman sticking with Raskin despite Manchin opposition (D-W.Va.), Susan CollinsSusan Margaret CollinsBanking chairman sticks with Raskin despite Manchin objection Bipartisan group of Senators presses Mayorkas about US readiness for Russian cyberthreat Biden’s CIA head leads charge against Putin’s information warfare MORE(R-Maine). Lisa MurkowskiLisa Ann MurkowskiBanking chairman sticks with Raskin despite Manchin resistance Senate averts shutdown and passes.6B in Ukraine assistance Senate gets deal for quick voting on funding, Ukraine aid(R-Alaska), announcing their opposition to her nominating.

Biden stated in a Tuesday statement that Sarah was attacked by conservative interest groups despite her readiness and despite being confirmed twice by the Senate with broad bipartisan support.

“Unfortunately the Senate Republicans are more focused than important steps toward addressing inflation or lowering costs for American citizens on amplifying false claims and protecting special interest.

It all comes down to energy. Although Raskin enjoyed broad support from former Fed officials, and little resistance from banks industry, advocates of oil and gas companies rallied against Raskin’s nomination due to her views on climate-related financial risk.

Raskin, in 2020, urged the Fed to not offer emergency loans to fossil fuel company struggling to stay afloat during the pandemic. She also criticised investing in oil companies. She also called on banks and regulators to pay more attention to how climate change could disrupt the financial system. This was met with fierce opposition by the fossil fuel industry.

Senate Republicans immediately opposed Raskin’s views regarding climate change. GOP lawmakers have harshly criticised the Fed and financial regulators for paying particular attention to how climate change poses financial stability risk. Raskin claimed that he would use the Fed as a means to defund the sector.

Raskin wrote to Biden, “Many in the Senate and outside are unwilling to admit the economic complications caused by climate change and the toll they have placed, and will place on Americans.”

“The future of American prosperity depends on how we address the economic transition as it deals with the effects of climate changes. These facts are being acknowledged by the vast majority of central banks and financial regulators in the United States and around the world.

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Governor of Virginia appoints Wheeler as his adviser

Virginia Gov. Glenn Youngkin (R), has appointed Andrew Wheeler, former administrator of the Environmental Protection Agency (EPA), to serve as a special advisor after Democrats in Virginia voted down his nomination for a Cabinet position.

Macaulay Porter, a spokesperson from Youngkins office, confirmed Tuesday’s move to The Hill. The position, which doesn’t require confirmation from the General Assembly, will focus on natural resources issues.

Wheeler, who was the head of EPA under the then-current administration,Donald TrumpDonald TrumpTrump: I will not use campaign funds to purchase a new plane. Do not fuel: How investing in renewables could save the world and neutralize Russia’s modern problems Wife Clarence Thomas confirms that she attended the Jan. 6 Stop the Steal’ rallyYoungkins was the state secretary for natural resources from 2019-2021. The nomination was immediately criticized among environmental groups. This is due to his history as a coal lobbyist, and the numerous environmental regulations he rolled back in the EPA.

Democrats, green groups, former EPA employees and others criticized Wheeler’s support for a rule that was created under his predecessor. Scott PruittEdward Scott PruittTrump relocated the Bureau of Land Management as part of a well-known Republican playbook Understanding the barriers that scientists, the public, and the truth Overnight Energy & Environment Biden officializes the return to preTrump national monument boundariesThat ban prohibited the use scientific studies that didn’t make all their data public.

Wheeler has not falsely claimed that human-caused global warming is a hoax. But he has called it exaggerated, and said he doesn’t believe it an existential threat.

The Virginia Senate retained a slim majority for Democrats after the GOP won statewide offices in 2021. However, it was unclear whether any of them would cross the aisle to vote in support of Wheeler after a January committee hearing. State Senator Joe Morrissey, a Democratic state senator, suggested Wheeler had done well under questioning and was considering backing his cause.

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VIRTUAL EVENT NOTIFICATION

A Connected and Sustainable SocietyWednesday, February 16 at 1:00 PM ET/10:00AM PT

Digitalization advances improve the way we live, learn, and work. These transformations are centered on high-powered networks, which make connectivity and data optimization possible. Join The Hills Steve Clemons to have conversations withSen. Deb FischerDebra (Deb) Strobel FischerOvernight Energy & Environment Manchin imperils Fed nomination over climate Equilibrium/Sustainability Invasion upends Mariupol’s green-city push The Hill’s 12:30 Report – Lawmakers worry about Putin’s erratic behavior MORE (R-Neb.), Rep. Robin KellyRobin Lynne KellyOvernight Energy & Environment Manchin imperils Fed nomination over climate Equilibrium/Sustainability Invasion upends Mariupol’s green-city push The Hill’s 12:30 Report – Lawmakers worry about Putin’s erratic behavior MORE (D-Ill.), Rep. Grace MengGrace MengOvernight Energy & Environment Manchin imperils Fed nomination over climate Equilibrium/Sustainability Invasion upends Mariupol’s green-city push The Hill’s 12:30 Report – Lawmakers worry about Putin’s erratic behavior MORE (D-N.Y.)More Networks are essential for creating a more sustainable, equitable, and livable future.Register hereVirtual Event InvitationThe Future of EducationThursday 17 March at 12:00 PM ET/10:00AM PT

SAUDIS REPORTED TO CONSIDER ACCEPTING YUAN IN OIL

Saudi and Chinese officials are discussing pricing some oil sales to the Gulf countries in yuan instead of dollars or euros. The Wall Street JournalReport Tuesday, citing people who are familiar with the matter.

Six years ago, the two countries had been discussing the matter intermittently. However, talks have apparently stepped up in 2022 with Riyadh unhappy about the United States’ nuclear negotiations in Iran and its refusal to support Saudi Arabia’s military operation against Yemeni rebels.

According to the Journal, almost 80 percent of global oil sales have been priced in dollars. Since the mid-1970s, Saudi Arabia has used the dollar exclusively for oil trade as part of a security arrangement with the U.S government.

These talks are part of a continuing effort by Beijing to make its currency tradeable on international oil markets and to strengthen its relationship with Saudis. China had previously provided support to Riyadh for the construction of missiles and nuclear power consultation.

However, the relationship between Saudi and U.S. has become more fragile in recent years. Crown Prince Mohammed Bin Salman initially presented a public image that he was a reformer by liberalizing the country’s policies regarding women’s rights and criminal law.

Learn more.

ON TAP TOMORROW

  • The Senate Environment and Public Works Committee will host anHearing for oversightrelated to the Clean Water State Revolving loan Fund
  • The Senate Armed Services Committee (Senate Armed Services Committee) will hold aHearHealth effects of toxic fumes from burning pits and other airborne hazards
  • The House Agriculture Committee will host aHearThe role of the Agriculture Department programs in combating climate change
  • The House Oversight Committee will host aHearInformation about forest management and wildfire fighting. Forest Service chief Randy Moore as well as Carole King are scheduled to appear.
  • The House Transportation and Infrastructure Committee is holding aHearProposals for a Water Resources Development Act of 2022
  • The House Science, Space and Technology Committee will host aHearon bioenergy

WHAT WE ARE READING

  • Shell directors could be sued over climate transition plansReuters)
  • Virginia’s Mountain Valley Pipeline Compensation Case goes to Trial8News)
  • Gravity could be the solution to the biggest problem in renewable energy (CNN)
  • Granite State is being warned by climatologists about the future climate trends.WMUR)

And last but not least, something offbeat or off-beat:Beware of falling Spiders

This is it for today. Thanks for reading. Check out The Hills Energy & Environment pageFor the most recent news and coverage. We’ll see you Wednesday.

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