** Shale oil production, which has revolutionized the energy industry and transformed the US economy, will stop growing in August, according to a government report. After hitting record highs in June and July, US crude production is set to fall in August for the first time this year to 9.4 million barrels a day, led by a drop in the oil-rich Permian Basin.
** A new report published by the Manhattan Institute threw cold water on the purported climate and cost benefits of electric vehicles (EVs) widely touted by lawmakers and automakers.
** Switching from hydropower to fossil fuels during periods of drought has cost Western U.S. states about $20 billion over the past two decades, according to new findings from Stanford University scientists.
** DTE Energy, one of Michigan’s largest utilities, pledged to build far more renewable energy as part of a long-term plan finalized Wednesday. The 20-year plan would spend $11 billion on clean energy construction in Michigan and hasten the closure of DTE’s remaining coal plants.
** Two House Republicans, Reps. Brian Mast and Cory Mills of Florida, are demanding that the Biden administration release Climate Envoy John Kerry’s flight records to determine how much was spent on military flights and the carbon emissions from any travel he took on private jet.
** The latest bid by conservationists and tribal leaders to block construction of a huge lithium mine already in the works along the Nevada-Oregon line was denied by the 9th U.S. Circuit Court of Appeals on Monday.
World
** BlackRock Inc. has named Saudi Aramco Chief Executive Officer Amin Nasser to its board, underscoring the asset manager’s commitment to the oil industry in the middle of a highly politicized debate about its role in ESG investing.
** One of OPEC’s largest producers, Kuwait, plans to boost its crude oil production capacity to 3.15 million barrels per day (bpd) within four years, from 2.7 million bpd now, the government said on Monday. Kuwait also intends to raise its natural gas production by 79% over the next four years, according to the government plans reported by The National.
** China has sufficient electricity capacity to meet demand over the summer months even as temperatures soar, according to the country’s top planning agency.
** Temperatures in central Tokyo have soared to nearly 9C (16F) above the seasonal average, as the extreme heat blanketing the world continues to smash historical norms.
** China Evergrande Group is seeking to complete one of the country’s biggest debt restructurings after posting $81 billion in losses over two years during the housing industry meltdown.