WHAT’S HAPPENING TODAY: The head of American Clean Power has warned that the opportunity for Congress to advance permitting reform is diminishing as the August recess approaches, with no official text released yet. CEO Jason Grumet indicated that the clean energy industry had hoped for progress before the Fourth of July but noted that no significant proposals have emerged from key Senate committees.
In related news, record-breaking fireworks displays in Washington, D.C., have caused unhealthy air quality, with pollution levels peaking at 6.7 times above normal. Data from Clarity Movement indicated that air quality remained poor for several hours post-display, prompting officials to issue a “code red” alert for sensitive groups.
Additionally, U.S. officials confirmed missile strikes by Iran on vessels in the Strait of Hormuz, which have contributed to rising oil prices. West Texas Intermediate crude rose to $70.61 per barrel following the incidents.
The Energy Information Administration expects global oil trade and production to return to near pre-war levels by the end of the year, although gasoline prices are projected to remain above pre-war averages.
Congressional Democrats are investigating Commerce Secretary Howard Lutnick regarding his involvement in a deal with USA Rare Earth, raising concerns about potential conflicts of interest. The investigation follows a significant agreement between the Commerce Department and the company.
Quaise Energy, a geothermal startup, announced it has secured a customer for its first 50 megawatts of production, aiming to meet the growing demand for clean energy.
In international news, Ukraine claimed responsibility for a drone strike on a Russian refinery, marking a significant development in its ongoing conflict with Russia. Furthermore, Germany reported over 5,000 excess deaths during a recent heat wave, contributing to discussions on climate change and public health responses.