DealBook Briefing: Inside the Emails Facebook Never Thought You’d Read


• “If China doubled the amount of goods it bought from the United States starting next year, it would take nearly a decade to reach the $1.2 trillion goal.”Coming up: A crucial meeting for oil pricesOPEC officials are meeting in Vienna today, and it’s a tricky time for the oil industry, writes Stanley Reed of the NYT.Why it matters: Oil prices have swung wildly in recent months, with crude tumbling 35 percent to less than $50 a barrel before rebounding slightly this week. The industry would like to lift prices by restricting production, but Mr. Trump has been explicit about wanting to keep prices low.What to expect: “Most analysts say that the oil producers have little choice but to announce a substantial cut in production of at least one million barrels a day, or around 1 percent of world oil supplies,” Mr. Reed writes. “Otherwise, prices could slide into the $40-a-barrel range or lower, squeezing the oil-dependent economies of member countries.”What can go wrong: The future of Russian oil production and the amount of Iranian oil that U.S. sanctions will take off the market could still sway prices.How can businesses get customers to pay for climate change?There’s a huge business opportunity in climate change. Exploiting it is the hard part.In a climate change report published yesterday, scientists likened the quickening growth rate of carbon dioxide emissions to a “speeding freight train,” and warned that the world may face some of global warming’s most severe consequences sooner than expected.Greg Ip of the WSJ outlines what that means for businesses:“Worries don’t translate into solutions unless businesses devise products that emit dramatically less planet-warming greenhouse gases. The innovation is the easy part; getting people to buy it is the hard part. That requires incentives, which depend heavily on governments. Without their intervention, solar and wind power, and electric and hybrid cars would have no foothold against their fossil fuel competitors.”But he also notes that many government interventions aren’t sufficiently informed by long-term thinking. Tom Linebarger, the chief executive of the engine maker Cummins, tells Mr. Ip that there’s an obvious path forward. “If we want rules that are more effective, decide the end result we want and let technology compete for the best solution,” he said. “Carbon taxes are much better than all the other choices.”