** Sen. Bernie Sanders and environmental groups are threatening to derail oil and gas gains obtained by Sen. Joe Manchin in the President’s new climate law. There are growing chances Manchin might lose Democratic support for the Mountain Valley Pipeline, a natural gas line he supports.
** A federal judge orders the Biden administration to reinstate an oil and gas lease in Montana that the Interior Department canceled in 2016 at the request of the Blackfoot tribes.
** Energy stocks and bonds are poised to get a fresh boost from investors positioning to benefit from the surging electricity prices and fuel shortages expected later this year. Two-thirds of respondents to an MLIV Pulse survey — which includes portfolio managers and retail investors — plan to increase exposure to the sector over the next six months.
** California’s fight against global warming is on a collision course with its rickety grid. The state aims to end net greenhouse gas emissions by 2045, forcing many things that burn fossil fuels — particularly vehicles, factories and buildings — to switch to electricity. And yet California, the world’s fifth-largest economy, struggles to keep the lights on during its increasingly severe heat waves.
** President Joe Biden is to sign orders to push more government dollars to the U.S. biotechnology industry, aimed at reducing dependence on China for materials to generate clean energy, weave new fabrics and inoculate populations against the COVID-19 pandemic.
** Construction begins on an electric vehicle battery manufacturing plant near Lansing, Michigan, that’s expected to create 1,700 jobs.
** Germany imported goods from Russia valued at 2.9 billion euros ($2.95 billion) in July, according to data released on Monday, as elevated energy costs frustrated German efforts to wind down trade with Russia. The value of German imports from Russia rose by 10.2% compared to July 2021, the Federal Statistical Office said.
** Natural gas prices fell as the market awaits details of the European Union’s plan to intervene in an unprecedented energy crisis that is already destroying demand for the fuel.
** The European Bank for Reconstruction and Development (EBRD) will help finance the decommissioning of 5GW of inefficient gas-fired power plants in Egypt from 2023 while pledging up to $1 billion for renewables, its regional director said on Sunday.