The country has been hit hard by wildfires and other climate disasters, but it’s also making tons of money from fossil fuels.What do you do when your country feels some of the worst calamities of climate change but also enriches itself from the very fossil fuels that are responsible for climate change?Few face that question more acutely than Australians.They faced it when they went to the polls three years ago. They’re facing it again now. National elections are scheduled a week from Saturday, on May 21.What’s changed? I asked my colleague, The Times Sydney bureau chief, Damien Cave. Here’s an edited version of our conversation.Hi Damien. I hear Australians are looking for answers on climate change on Google in the run-up to these elections. What do you make of that?Well, it’s been a tough three years. The intense, overwhelming bush fires of 2020. Two years of La Niña rains. Another round of bleaching for the Great Barrier Reef.Australians are probably Googling for solutions because they’re seeing more examples of climate change in their lives and wondering: When and how are we supposed to deal with this? They’re Googling inflation more often, though.Compared to other issues, how much does climate matter to voters? Polls show that climate is not necessarily the top issue for most voters. But it does seem like a low-level and constant source of anxiety, not just because of all the extreme weather we’ve been having, but also because Australians fear that they are losing out on an economic opportunity.Last year, for example, I did a big article on Australia’s richest man, a mining baron named Andrew Forrest, making a big push into hydrogen. I spent a lot of time talking to iron ore miners for that article and what I heard again and again was: “Australia needs to change fast, or else we’re going to lose out.”Many Australians can see that — in a country full of minerals, with some of the best solar and wind potential in the world — not making climate change a priority means risking the loss of good paying jobs to other countries with a clearer plan for the future. Australia is currently the third-largest exporter of fossil fuels in the world, but it can be a renewable energy superpower if it decides to be, and a growing number of Australians seem to recognize that.What’s the current government’s stance on climate?It has done very little to suggest that it recognizes climate change as a clear and immediate danger in need of a major shift in policy. Last year, just before the international climate talks in Glasgow, it reluctantly agreed to a net-zero-by-2050 target, meaning that it would reduce its greenhouse gas emissions and make up for what it couldn’t remove with things like tree planting projects. It’s little more than a pledge. There’s not really a plan on how to get there.That’s out of touch with most Australians. Polls show a majority would like to see their government tackle climate change more aggressively.Is the governing conservative coalition still banking on coal?Yes, and the opposition isn’t far behind. Anthony Albanese, the Labor leader fighting to become prime minister, said last month that a Labor government would support new coal mines, matching the pro-mining stance of the conservative Liberal-National coalition that’s now in power. It’s partly an effort to keep the support of blue-collar workers, but it’s also an attempt to avoid a repeat of what happened in the 2019 election when Labor lost over its apparent opposition to a big new coal mine in the state of Queensland. You wrote about that. It’s owned by the Indian conglomerate Adani, and that mine has since started exporting coal.Coal is still king in many of the districts needed to win Australia’s election.A handful of independents ran on climate issues in 2019. I met some of them when I went to Australia in the run-up to the last elections. What’s different now?Well, there are more independents running. Around 25 of them. Most are professional women — lawyers, doctors, entrepreneurs — who have been recruited by community groups eager to break the two-party gridlock on climate change.They’re a loosely affiliated group, though they’re getting more coordinated. There’s more money coming their way from groups like Climate 200, which is essentially an Australian version of a political action committee. And there’s more energy. Some of their campaigns have thousands of volunteers, far more than the major party incumbents.The question, of course, is still whether they have enough support to win more than a seat or two.If the election is close, as is expected, the independents may be kingmakers. They may be the ones who decide whether to form a government with Labor or the Liberal-National coalition.That could change Australian climate policy very quickly.I’m puzzled by one thing: If climate risk isn’t a top election issue in a country as vulnerable as Australia, can it be a top election issue anywhere?One of the lessons from Australia, I think, is that climate change can be a very important political issue even if it doesn’t end up at the top of voters’ most urgent concerns. Here, it’s a constant, a low-level hum just below the political shouting.What we’ve seen over the past few years is that if the major parties don’t tackle climate change, there’s going to be a backlash that could threaten their own hold on power. The independents are the big story of this year’s campaign. I have an article coming soon about their efforts, but whether they win or lose, they’ve put both parties on edge. They’ve changed the conversation because they are the public face of a grass-roots movement that is trying to pull the country back to the political center and focus on pragmatic solutions to big problems. Chief among them is the problem of climate change.Damien and the rest of our team in Australia will be following the final days of the campaign and next week’s vote result. You can get news and analysis here.Flares burning in the Niger Delta region of Nigeria in 2021.Sunday Alamba/Associated PressEssential news from The TimesMessy business: Some oil giants, in an effort to meet climate pledges, are transferring their dirtiest wells to smaller operations with even fewer climate safeguards.Hurricane facts: A new study explains how air pollution has led to more hurricanes in the Atlantic Ocean, but fewer in the Pacific.Rapid research: Scientists say global warming played a role in the deadly floods that hit South Africa last month.Offshore drilling: The Biden administration has canceled oil drilling lease sales in the Gulf of Mexico and Alaska.Righting wrongs: U.S. officials have announced a series of policies intended to elevate environmental justice efforts.Book review: Stacy McAnulty’s “Save the People!” uses humor to call middle grade readers to action.From outside The TimesMillions in California depend on a key delta for water, but they can’t agree on managing it. That could become one of America’s biggest water disasters, The New Yorker writes.Oregon has adopted a new law to protect farm workers from extreme heat and wildfire smoke, according to Civil Eats.From National Geographic: The Democratic Republic of Congo is awash in plastic waste. Artists are transforming it into sculptures with a dystopian twist.Japan and South Korea are increasingly burning wood pellets to make energy, Mongabay reports. Because of a loophole, that could lead to an undercounting of their emissions.Wild plants have always been an important source of food in rural India. Now, Whetstone Magazine writes, foraging is becoming more common in the country’s cities.Pinterest said it will would take down any content posted on its platform that denies climate change and its impacts, MSN.com reported.Before you go: Calculate your personal inflation ratePrices are rising at the highest pace in four decades, but not everyone experiences the effects of inflation in the same way. It depends on a range of individual circumstances. So, our colleagues on the Times business desk created an interactive calculator to estimate your personal inflation rate. You just need to answer seven easy questions. It turns out, a lot of the things that are bad for the climate — like driving, heating your home with oil and eating a lot of meat — also have an outsize effect on inflation. You can try the calculator here.Thanks for reading. We’ll be back on Tuesday.Manuela Andreoni, Claire O’Neill and Douglas Alteen contributed to Climate Forward. Reach us at climateforward@nytimes.com. We read every message, and reply to many! More

Special counsel Jack Smith has described the January 6 insurrection as ‘an unprecedented assault on the seat of American democracy’ that was ‘fuelled by lies by the defendant’. The statements follow his lengthy investigation into Donald Trump and his efforts to overturn the 2020 election results. More

The Republican National Convention is underway in Milwaukee, the largest city in the key swing state of Wisconsin. The four-day affair has put the city in an international spotlight just four years after Covid-19 spoiled the Democrats’ plans to hold their own convention in Milwaukee. But how much do you know about the host city? Take our quiz to find out. More

Javier Milei has become the favorite in Argentina’s election this month by pledging to dollarize the economy. In response, the Argentine peso is crashing.Javier Milei is still just a candidate to be president of Argentina. But he is already single-handedly delivering one of Latin America’s biggest economies a financial shock.The value of Argentina’s currency is plummeting under criticism by Mr. Milei, a hard-right libertarian who has become the leading presidential candidate by promising to replace the Argentine peso with the U.S. dollar.On Monday, Mr. Milei continued his attacks on the peso by discouraging Argentines from holding any investments in the currency. “The peso is the currency issued by the Argentine politician and therefore is worth less than excrement,” he said on a popular radio show. “That trash is not even good as manure.”The peso’s unofficial rate, which reflects the market’s valuation of the currency and drives prices in Argentina, fell nearly 7 percent on Monday alone, reducing its value by about 15 percent over a week.At that unofficial rate, $1 bought 945 pesos as of Tuesday morning. Before Mr. Milei won a primary election on Aug. 14, $1 bought 660 pesos. In April 2020, at the start of the pandemic, the figure was 80 pesos.The escalating crisis prompted Argentina’s Central Bank, which Mr. Milei has promised to shutter, to issue an extraordinary statement on Monday afternoon that “Argentina maintains a liquid and solvent financial system” and that it backs Argentine bank deposits.Mr. Milei, an eccentric economist who wants to upend the country’s government and financial system, is the front-runner in Argentina’s presidential election on Oct. 22, though the race, polls suggest, could still go to a November runoff.His ascent has dominated the national conversation and accelerated the peso’s decline.The morning after Mr. Milei surprised the nation by finishing first in presidential primaries in August, market pressures forced the government to devalue the peso by 20 percent.Supporters of Mr. Milei during a campaign rally last month in San Martín, Argentina.Luis Robayo/Agence France-Presse — Getty ImagesMr. Milei’s comments are causing “a spike in inflation or an eventual banking problem, which is what he is encouraging,” said Marina Dal Poggetto, an Argentine economist and former analyst at Argentina’s Central Bank. “What you are seeing is the beginning of a run that may or may not stop. We have to see what happens on October 22. Milei still hasn’t won.”Mr. Milei has embraced comparisons to Donald J. Trump and Jair Bolsonaro, Brazil’s former far-right president, and has made headlines for his denials of the role of humans in climate change, his harsh criticisms of the pope and his aims to ban abortion and legalize sales of human organs.But the centerpiece of his campaign has been his sometimes professorial lectures on economic policy designed to persuade voters that he alone can fix Argentina’s soaring inflation.The country is in the midst of one of its worst financial crises in decades, with annual inflation now topping 120 percent and prices at many stores and restaurants changing weekly, if not faster.Sergio Massa, Argentina’s finance minister and Mr. Milei’s principal opponent, accused Mr. Milei on Monday of deliberately trying to destabilize Argentina’s currency to wreak havoc ahead of the vote. “In order to gain one more vote, he is gouging people’s savings,” said Mr. Massa, a center-left politician from the party that has led the country for 16 of the past 20 years.At an event with business leaders last week, Mr. Milei said that the lower the value of the peso, the easier it would be to dollarize Argentina.If elected president, Mr. Milei is likely to face major challenges in accomplishing his proposals. Mr. Milei has said that he will likely need a $40 billion infusion of dollars to switch Argentina’s official currency, though it is unclear he would get that much money. Argentina is already struggling to pay its $44 billion debt to the International Monetary Fund.Sergio Massa, Argentina’s finance minister and Mr. Milei’s principal opponent, has accused Mr. Milei of deliberately trying to destabilize Argentina’s currency.Agustin Marcarian/ReutersMr. Milei has also said that Argentina’s Congress would have to approve many of his proposals, which include deep cuts to government spending, the elimination of many taxes and privatizing all of the nation’s state companies.His nascent Liberty Advances political party would likely control a small share of the seats in Congress, forcing him to forge alliances with other parties that he has labeled criminal.Argentina has struggled with high inflation for decades, including a bout of hyperinflation in the 1980s when customers were rushing to buy items before clerks wielding price guns could make another round of increases. But spiking prices, driven by the weak currency, have roared back over the past two years.Some of Argentina’s problems have been driven by global economic factors, like the pandemic and the Ukraine war, but much of it, economists say, is because the government has overspent to pay for free or deeply subsidized universities, health care, energy and public transportation. To finance all that, Argentina has often printed more pesos.The result has been an increasing lack of confidence in the currency, which has forced the government to create more than a dozen separate exchange rates for the peso, because its own official rate no longer reflects the market’s valuation.The new rates include one for tourists, one for soybean exporters and one for Argentines who were traveling to Qatar to watch their national football team win the 2022 World Cup. The so-called Blue Dollar is the most important parallel rate — set by a small group of financial companies and listed live on television news programs — and is how most Argentines transfer their pesos to dollars on the underground market.On Tuesday, seeking to assuage some market fears, the government consolidated several of those rates into a new rate that at least one accountant called the Election Dollar.Natalie Alcoba More

Lael Brainard, the director of the National Economic Council, said lawmakers should raise taxes on companies and the wealthiest while extending the 2017 cuts for those making less than $400,000.President Biden’s top economic adviser said on Friday that lawmakers should take advantage of a looming tax debate next year to try to reduce budget deficits by sharply raising taxes on corporations and the rich.Under that plan, Mr. Biden would more than offset the cost of maintaining tax cuts for people earning $400,000 a year or less.In a speech to the Hamilton Project at the Brookings Institution in Washington, Lael Brainard, who directs the White House National Economic Council, gave the most detailed explanation yet of how Mr. Biden would seek to shape what promises to be a multitrillion-dollar tax debate.A batch of tax cuts signed into law in 2017 by former President Donald J. Trump, who is facing Mr. Biden in a rematch this fall, is set to expire at the end of next year. It includes cuts for individuals at all income levels. Republicans built that expiration into the tax bill to reduce its projected cost to deficits and comply with congressional rules.Ms. Brainard’s speech renewed Mr. Biden’s commitment to reducing taxes for middle-class Americans and for raising them on high earners. But her remarks expressed more concern about growing debt and deficits than the president and his aides had previously demonstrated when discussing the looming tax debate.“At minimum, we should avoid making the fiscal hole created by Republican tax cuts deeper, by fully paying for any tax cuts that are extended,” Ms. Brainard said, in remarks released by the White House. “And we should use the 2025 tax debate as an opportunity to meet our national needs by raising revenue overall by asking the wealthy and large corporations to pay their fair share.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More