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Overnight Energy: Trump moves to crack down on Iranian oil exports | Florida lawmakers offer bill to ban drilling off state's coast | Bloomberg donates $5.5M to Paris deal

Overnight Energy: Trump moves to crack down on Iranian oil exports | Florida lawmakers offer bill to ban drilling off state's coast | Bloomberg donates $5.5M to Paris deal

IRAN SANCTIONS BACK ON: The Trump administration will not renew waivers that allowed eight foreign governments to buy Iranian oil without getting sanctioned, it announced Monday.

"President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May," White House press secretary Sarah HuckabeeSarah SandersHouse Republican condemns anti-Trump celebrities during impeachment hearing Sarah Sanders on Trump's reported war dead criticism: 'Those comments didn't happen' Sarah Sanders memoir reportedly says Trump joked she should hook up with Kim Jong Un MORE Sanders said in a statement. "This decision is intended to bring Iran's oil exports to zero, denying the regime its principal source of revenue."

Secretary of State Mike PompeoMike PompeoWhite House installs new leadership at federally-funded international broadcasters US carrier group enters South China Sea amid tensions between China, Taiwan Biden can hold China accountable for human rights abuses by divesting now MORE a short time later also made the announcement from the State Department's press briefing room.

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"We're going to zero across the board," Pompeo said. "With the announcement today we have made clear our seriousness of purposes. We are going to zero. How long we remain there at zero depends solely on the Islamic Republic of Iran's senior leaders."

In doing so, Pompeo, an Iran hard-liner, bowed to pressure from others inside and outside the administration who wanted to squeeze Iran even harder despite concerns about causing a spike in oil prices.

Sanctions on Iranian oil purchases were reimposed in November as part of Trump's decision to withdraw from the Iran nuclear deal.

The 2015 accord between the United States, Iran, Germany, France, the United Kingdom, Russia and China gave Tehran billions of dollars in sanctions relief in exchange for curbs on its nuclear program.

Amid concerns over roiling the international oil market, the Trump administration in November granted sanctions waivers to eight governments: China, India, Japan, Turkey, Italy, Greece, South Korea and Taiwan.

The waivers are due for renewal May 2.

More on that here.

But meanwhile, Trump's actions on Iran are driving up oil prices. Oil prices on Monday spiked to their highest levels since October after President TrumpDonald TrumpMore than two-thirds of Americans approve of Biden's coronavirus response: poll Sarah Huckabee Sanders to run for governor Mexico's president tests positive for COVID-19 MORE announced the U.S. would not renew sanction waivers that had allowed eight countries to buy Iranian oil.

Brent crude rocketed past $74 a barrel, its highest point this year, and American consumers may soon see the price increase at gas stations nationwide.

The administration's move was designed to ratchet up pressure on Iran almost a year after Trump withdrew from the 2015 nuclear deal negotiated by former President Obama.

The White House said Monday it had struck agreements with oil-producing allies such as Saudi Arabia and the United Arab Emirates "to take timely action to assure that global demand is met as all Iranian oil is removed from the market."

Read more on the fallout here.

 

Happy Earth Day Monday! Welcome to Overnight Energy, The Hill's roundup of the latest energy and environment news.

Please send tips and comments to Miranda Green, mgreen@thehill.com and Rebecca Beitsch, rbeitsch@thehill.com. Follow us on Twitter: @mirandacgreen, @rebeccabeitsch and @thehill.

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DRILL VS. SPILL: A bipartisan group of House lawmakers from Florida introduced a bill Monday that would ban offshore drilling along their state's coast.

Spearheaded by Rep. Debbie Wasserman SchultzDeborah (Debbie) Wasserman SchultzHouse Democrats unveil resolution to censure Rep. Mo Brooks over Capitol riots Democrats poised to impeach Trump again House Democrats pick DeLauro to lead Appropriations panel MORE (D-Fla.), the legislation comes ahead of a new five-year plan from the Trump administration that is expected to expand offshore drilling along the Atlantic Coast.

Oil and gas industry sources have said those plans include Florida, despite a much-publicized exception for the Sunshine State from former Interior Secretary Ryan ZinkeRyan Keith ZinkeOvernight Energy: Interior finalizes plan to open 80 percent of Alaska petroleum reserve to drilling | Justice Department lawyers acknowledge presidential transition in court filing | Trump admin pushes for permits for men who inspired Bundy standoff Trump administration pushes for grazing permits for men who inspired Bundy standoff Interior secretary tests positive for COVID-19 after two days of meetings with officials: report MORE.

"The Sunshine State's coasts provide abundant marine life habitat and a destination for beach-lovers worldwide. They are an irreplaceable treasure and ecological necessity – risking our coasts for dangerous oil and gas drilling is unacceptable," Wasserman Schultz said in a release.   

Who is on board: Offshore drilling is deeply unpopular among Florida politicians of both parties, and Rep. Matt GaetzMatthew (Matt) GaetzCheney tests Trump grip on GOP post-presidency Florida Republicans close ranks with Trump after Capitol siege The Memo: Historic vote leaves Trump more isolated than ever MORE (R-Fla.), who often aligns himself with President Trump, and Reps. Vern BuchananVernon Gale BuchananMORE (R-Fla.) and Debbie Mucarsel-PowellDebbie Mucarsel-PowellTrump, Florida complicate Biden approach to Cuba The Hill's Morning Report - Presented by Mastercard - Coast-to-coast fears about post-holiday COVID-19 spread The Memo: Democrats see warning signs beyond 2020 MORE (D-Fla.) have agreed to co-sponsor the bill.

New Interior chief: Newly confirmed Interior Secretary David Bernhardt was asked about his position on offshore drilling by a number of senators from coastal states, though unlike his predecessor, he offered no exemptions from offshore drilling.

Sen. Angus KingAngus KingBiden officials hold call with bipartisan group of senators on coronavirus relief plan The next pandemic may be cyber — How Biden administration can stop it Bipartisan Senate gang to talk with Biden aide on coronavirus relief MORE (I-Maine) said Bernhardt made it clear his and other senators' opposition to offshore drilling would be a consideration going forward.

"They're not guarantees, but he gave me some assurances," King said shortly after Bernhardt's confirmation vote.

Environmental groups have long argued that offshore drilling poses a major risk to coastal ecosystems and that the National Oceanic and Atmospheric Administration (NOAA), the agency responsible for overseeing offshore drilling, is ill-equipped to monitor and regulate the practice.

Wasserman Shultz's bill would require a review of NOAA's capacity to respond to oil spills while expanding oil companies' responsibility for cleanup in the event of a spill.

Read more on the legislation here.

  

BLOOMBERG DONATES TO PARIS CLIMATE EFFORT: Former New York City Mayor Michael BloombergMichael BloombergEverytown calls on Rep. Marjorie Taylor Greene to resign Biden selects Gina Raimondo for Commerce chief: reports 7 surprise moments from a tumultuous year in politics MORE will donate $5.5 million to the United Nations Climate Change Secretariat, the second year in a row he has provided funding to make up for lapsed commitments under the Trump administration.

Bloomberg, who earlier decided against running for the White House, used Earth Day to announce that he would offer support for the secretariat's operations. The program helps countries meet carbon emission reduction commitments under the landmark 2015 Paris climate deal, a global deal negotiated by the Obama administration that President Trump rejected.

Trump announced in 2017 that he plans to pull the U.S. out of the agreement, arguing it was a bad deal.

The U.S. committed $15 million over two years to the program under former President Obama, but only transferred $2.5 million last year. It was expected to provide another $2.5 million this year.

This is the second year Bloomberg has donated millions to the program. Last year he donated $4.5 million.

Read more on Bloomberg's efforts here.

 

OUTSIDE THE BELTWAY:

Nevada passes bill for 50 percent renewables by 2030, 100 percent carbon free by 2050, Utility Dive reports.

Public meetings on permitting for long-term operations of the California State Water Project planned, the Sierra Sun Times reports.

Judge delivers major setback to Trump policy to increase coal mining on federal land, The New York Times reports.

These states are not so chill about air conditioners' hydrofluorocarbons (HFCs), Stateline reports.

 

IN CASE YOU MISSED IT:

A lot to catch up on from Monday and over the weekend...

Obama honors youth climate activists to mark Earth Day

Oil spikes to 6-month high after Trump crackdown on Iran

Inslee urges 2020 rivals to join push for debate focused on climate change

Dem senators launch Environmental Justice Caucus

Florida lawmakers offer bill to ban drilling off state's coast

Bloomberg donates $5.5 million to fill in Paris agreement gap

Trump: 'Iran is being given very bad advice by John Kerry'

Trump removes sanctions waivers on countries buying oil from Iran

Poll: Two-thirds of Republicans believe climate change should be taught in schools

Climate change concerns highest in Northeast, Western US: poll

Earth Day founder's daughter: Most Republican leaders believe in climate change in private

700 arrested amid climate protests in London, police say

Tlaib rallies in support of Green New Deal at Detroit town hall