Fast energy reads

** Politico will host its first-ever Energy Summit on Thursday. The event features conversations with Energy Secretary Jennifer Granholm, White House National Climate Adviser Ali Zaidi and Jigar Shah, director of the DOE’s Loan Programs Office.

** The nation’s coal-fired power plant fleet is projected to decline by more than half by 2050, according to the U.S. Energy Information Administration, as aging fleets are replaced by new plants powered by natural gas and renewable energy and as environmental regulations make it more costly to operate the facilities.

** Senator Joe Manchin vowed to oppose President Joe Biden’s nominees to fill key positions at the US Environmental Protection Agency over its forthcoming plan to limit greenhouse gas emissions from power plants.

** The Department of Housing and Urban Development announced nearly $1 billion in funding to make low-income, multifamily housing more energy- and water-efficient, as well as more resilient to climate disasters.

** What appeared to be a minor bender-fender for a pickup truck driven by an Ohio man turned out to be a $42,000 bill—all because the truck was an electric vehicle.

** The Energy Department plans to offer cash to Americans to get rid of their gas-flamed stoves, in the Biden administration’s larger effort to transition the country from fossil fuel to so-called green energy.

** Oil and gas producers talk up technological breakthroughs they say will soon allow the world to drill and burn fossil fuels without worsening global warming. U.S. climate envoy John Kerry says the time is here for the industry to prove it can make the technology happen — at scale, affordably and quickly — to stave off climate disaster.



** The Saudi Arabian Oil Co. reported a net profit of $31.88 billion in the first quarter, 19% lower than a year earlier but 3.75% higher than the previous quarter, as lower crude prices dragged down the company’s profit.

** Venezuela plans to issue a license next month to Italy’s Eni SpA and Spain’s Repsol SA to export natural gas, said Pedro Tellechea, the nation’s oil minister and head of state-run Petroleos de Venezuela SA.

** Southeast Asia continues to grapple with blistering heat amid reports of record temperatures and cases of heatstroke that further add to signs of extreme weather changes.

** Cyprus and Israel are working on a deal to build a pipeline that will convey natural gas from both countries to the east Mediterranean island nation, where it will be liquefied for export by ship to Europe and potentially elsewhere, the Cypriot energy minister said Monday.