renewable

Stocks for companies in industries that Trump has repeatedly attacked—renewable energy, vaccines—understandably sank.

He added that Washington was also working on a deal passed last year in Dubai to triple renewable power by 2030.

Phillips 66, which has operated the refineries since its 2012 spin off from ConocoPhillips, said it would replace their output with sources “inside and outside its refining network” and with renewable diesel and sustainable aviation fuels from its San Francisco Bay Area refinery.

That could hurt California, which is becoming more reliant on renewable energy.

Trump also plans to roll back Biden’s efforts to encourage the adoption of electric vehicles and repeal federal subsidies for solar, wind and other renewable energy projects — important parts of California’s drive to wean itself from fossil fuels.