WHAT’S HAPPENING TODAY: Good afternoon and happy Monday, readers! Today we reflect on the life and legacy of Dr. Martin Luther King Jr.
The full Daily on Energy team is back in action today, after Callie snuck away from the busy news cycle on Friday to ski and watch the final Olympic trials for moguls up at Waterville Valley ⛷️.
We have a busy week ahead of us, as the Washington D.C. Auto Show takes place! 🚗 🚙 🛻 Maydeen will be on the ground Thursday for the conference’s public policy day. If you will be in the area and want to chat, be sure to let her know.
In other news, all eyes in the District have turned away from Venezuela and are now looking north…to Greenland 🇬🇱. Over the weekend, President Donald Trump threatened new tariffs on European nations that oppose his attempt to take control of the Danish territory 🇩🇰. Keep reading for more on what we know about the evolving situation.
Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson) and Maydeen Merino (@MaydeenMerino). Email cpatteson@washingtonexaminer dot com or mmerino@washingtonexaminer dot com for tips, suggestions, calendar items, and anything else. If a friend sent this to you and you’d like to sign up, click here. If signing up doesn’t work, shoot us an email, and we’ll add you to our list.
PEBBLE MINE DEVELOPER ‘DISAPPOINTED’ PROJECT HASN’T BEEN EMBRACED BY TRUMP: In its first year, the Trump administration has made it clear that the state of Alaska is central to its energy and critical minerals agenda. However, one project in the state that could alone help meet up to 15% of what the country needs for minerals like copper and gold has been sidelined from the administration’s public push.
Quick background: The controversial Pebble Mine project has been in the works for decades, after Cominco Alaska Exploration discovered mineral resources in the Bristol Bay region of Southwest Alaska in the late 1980s. Northern Dynasty Minerals took over the project in 2001 and has sought to develop the mine and its gold, copper, and molybdenum resources since.
The project has repeatedly been denied permits over environmental concerns. In 2020, the U.S. Army Corps of Engineers under Trump 1.0 rejected a permit for the mine over potential violations of the Clean Water Act. Plus, last summer, the Department of Justice said it would defend this 2020 ruling as well as an Environmental Protection Agency decision under former President Joe Biden that moved to kill the project in order to protect the Bristol Bay watershed.
Hope not lost: Despite the DOJ’s ruling, Pebble Project CEO John Shively told Daily on Energy he is confident the administration will see the benefits of the project. He told Callie and Maydeen that is “disappointing” the administration hasn’t yet embraced Pebble Mine, but admitted it is a “difficult project” given the backlash from environmental and conservation groups.
“It’s not totally surprising to me that they’re taking their time on it,” Shively said. “I do think ultimately, they will come to the right decision.”
Shively explained that as Northern Dynasty Minerals has challenged the federal government’s blocking of the project in court, the Trump administration has found itself in a position where it would have to defend a decision from the Biden administration. The Department of Justice has been ordered to respond to the company’s opening brief in the case by Feb. 17.
Some context: While the Trump administration has vowed to “mine, baby, mine,” Republican support for Pebble Mine is not as clear-cut. Donald Trump Jr. is one of many conservatives who has voiced opposition to the project, citing risks to headwaters and fishery in the region.
TRUMP TARIFFS OVER GREENLAND: Over the weekend, President Donald Trump threatened to place tariffs on European countries that oppose the U.S. purchasing Greenland.
Those countries include: Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland. Trump said the tariff would begin in February and later increase to 25% on June 1 if there is no deal. This is the president’s latest attempt to pressure European countries to allow the U.S. to take over Greenland, citing national security concerns.
“The United States of America is immediately open to negotiation with Denmark and/or any of these Countries that have put so much at risk, despite all that we have done for them,” Trump said on Truth Social.
Trump has previously argued that Greenland is necessary for the U.S. Golden Dome missile defense system and has warned if the U.S. does not take Greenland, Russia or China will. The territory also holds strategic resources like critical minerals, which the administration has been seeking to acquire.
A 2023 survey found that Greenland contains about 25 of the 34 minerals categorized as critical raw materials by the European Commission.
Trump’s tariff threats come as he is set to attend the World Economic Forum in Davos this week, where French President Emmanuel Macron, Canadian Prime Minister Mark Carney, and German Chancellor Friedrich Merz are set to attend in person. UK Prime Minister Keir Starmer is reportedly expected to attend as well.
RARE EARTH MAGNET MAKER RAISES $215 MILLION TO BOOST U.S. SUPPLY: Noveon Magnetics, a Texas-based rare earth magnet maker, has raised $215 million from investors in the latest update in the U.S. push to boost the domestic supply of minerals, the Wall Street Journal reports.
The funding raised is nearly double all of the magnet maker’s prior venture capital funding, the publication said, adding that the majority of the funding comes from One Investment Management. The firm invested about $200 million in Noveon, and the remaining $15 million came from existing investors.
The investment comes as the Trump administration has worked to increase the domestic supply of critical minerals and rare earths, which are necessary for technology applications in the defense and energy sectors.
China controls the global supply of critical minerals and rare earths and has imposed export restrictions on several rare-earth materials. Trump reached a truce with China in October over Beijing’s most recent export restrictions, agreeing to suspend them for one year. But other restrictions on rare earths remain.
Noveon is the first company to reshore full-scale magnet-making in the U.S. Noveon Chief Executive Officer Scott Dunn told the Wall Street Journal, “It is really complicated, it is really capital intensive, it is not easy to course-correct.”
Dunn said that the company is on track to produce more than 2,000 tons of magnets per year, about 5% of the U.S. current demand. In comparison, China can produce about 400,000 tons per year, which is at least 40% more than total global demand.
UNITED KINGDOM ADVISED TO WEAKEN ELECTRIC VEHICLE TARGETS: Pressure is growing for the United Kingdom to soften its green policies, as a new report suggests the country redirect its phase-out of gas-powered vehicles.
The details: The report, set to be published by the Policy Commission on Gigafactories this week, is recommending that the U.K. weaken its zero-emissions vehicle mandate to require only 50-60% of new vehicles solid in 2030 to be electric vehicles, according to the Financial Times. The country’s current policy requires 80% of new cars to be non-polluting by 2030, before jumping to 100% by 2035.
Former Labour defense secretary Lord John Hutton, who founded the commission, told the Financial Times that such a shift in policy would not detract from the overall direction to decarbonize the industry.
“There is growing consensus in industry that there’s a need for a course redirection here. It’s not scrap everything, but recalibrate,” Hutton told the outlet.
RESTART OF WORLD’S LARGEST NUCLEAR PLANT DELAYED: The Kashiwazaki-Kariwa nuclear power plant in Japan was scheduled to come back online this week, but the historic restart has been pushed back due to a malfunction.
The details: Tokyo Electric Power confirmed today that it was pushing back the restart – scheduled for tomorrow – after there was an alarm system malfunction over the weekend, according to Reuters. The reopening of the plant has been delayed by just one or two days, a spokesman told the outlet.
The power plant, which has a total capacity of 8.2 gigawatts, has been effectively shut down since the Fukushima disaster in 2011. Japan shuttered all 54 of its nuclear reactors in response to the meltdown and has since restarted 14 of the 33 remaining operable units.
As attitudes toward nuclear energy have grown more positive in recent years, officials with TEPCO began working to restart some of the facility’s seven reactor units. The pending restart is focusing solely on reactor six, with the operator aiming to have commercial operations of the unit by Feb. 26.
A LOOK AHEAD:
Jan. 19 is Martin Luther King Jr. Day.
Jan. 19 – 23 The World Economic Forum’s Annual Meeting is taking place in Davos, Switzerland.
Jan. 20 – 24 Energy Shift Forum is holding its flagship annual event in Davos alongside the World Economic Forum featuring three programs titled Future of Energy, Energy Innovation, and Energy Investing.
Jan. 20 – 22 PowerGen 2026 will be held in San Antonio, Texas.
Jan. 21 The House Natural Resources subcommittee on Federal Lands is holding an oversight hearing titled “EXPLORE American250: Celebrating One Year of the Expanding Public Lands Outdoor Recreation Experiences Act.”
Jan. 21 The House Energy and Commerce committee is holding a markup hearing.
Jan. 22 The Federal Energy Regulatory Commission will be holding its monthly open meeting.
Jan. 22 The House Natural Resources committee is holding a markup hearing.
Jan. 23 The Washington D.C. Auto Show begins and will last until Feb. 1.
RUNDOWN
Canary Media This Brooklyn bagel shop is saving money with plug-in batteries
Associated Press Five face trial in Peru in rare prosecution over the killing of an Amazon defender
New York Times As Davos Convenes, Deference to Trump Has Replaced Everything
