Quick energy reads

** The United States Supreme Court ruled Thursday that the Mountain Valley Pipeline may resume construction. The ruling vacates a 4th Circuit Court of Appeals decision earlier this month that halted the completion of the pipeline and called for a review of authorizations by the Bureau of Land Management and Forest Service for the pipeline to be finished.

** Federal land managers propose banning oil and gas drilling on 28,500 acres in southern New Mexico to protect sensitive cave systems near Carlsbad Caverns National Park.

** Scientists are holding human-induced climate change responsible for the Colorado River Basin’s loss of more than 10 trillion gallons of water — or about the entire storage capacity of Lake Mead — over the past two decades.

** Extending operations of the Diablo Canyon nuclear power plant through 2045 could cost California ratepayers as much as $45 billion, a new report has found. The state’s biggest utility, Pacific Gas and Electric (PG&E), is currently in the process of seeking a license renewal that could enable the aging facility to run for another 20 years.

** The whitest-ever paint, which aims to boost the cooling of buildings and tackle climate change, has been produced by scientists at Purdue University. “When the worst heat waves come — that is, life-threatening — our white paint can reduce roof temps by 8 degrees Fahrenheit that can further cool down interior space,” said Xiulin Ruan, a Purdue University professor of mechanical engineering.

** Researchers with the organization Climate Central found that a majority of residents in 44 cities live in a census tract that experiences heat at least 8 degrees higher than surrounding rural areas.

** Gas prices are again on the rise, and the extreme heat being felt in the Northern Hemisphere is partly to blame.Nationally, the price of a gallon of gasoline rose by 4 cents on Tuesday, the largest single-day increase in a year. In Florida, the price jumped by 8 cents in a single day. Over the past week, the average price of gas has spiked 10 cents nationally, according to AAA, and every part of the country is being impacted.

** Hailed as a “once-in-a-lifetime” investment, the U.S. Environmental Protection Agency has announced that $14.3 million in grants will flow to Pennsylvania farmers to improve water quality and help the state meet its obligation to reduce pollution in the Chesapeake Bay.

** Seven major automakers are coming together to create a joint venture that will build out a large electric vehicle fast-charging network in the North America, in an attempt to make electric vehicles more attractive to consumers. The companies – General Motors, BMW Group, Honda, Hyundai, Kia, Mercedes-Benz and Stellantis – plan to install at least 30,000 chargers in the United States and Canada.



** Shell on Thursday reported a 56% fall in second-quarter profit to $5 billion as oil and gas prices and refining profit margins fell, prompting the energy giant to slow its share repurchase programme. The earnings, which missed forecasts, follow bumper earnings in 2022 after energy prices surged in the wake of Russia’s invasion of Ukraine, but were in line with its second-quarter performance two years ago.

** The head of Mexico’s state-owned oil company contended Wednesday that oil washing up on the country’s Gulf coast beaches could not have come from a spill of about 1,350 barrels caused by a pipeline leak, suggesting it came from natural seepage from ocean-floor vents.

** South Africa’s electricity minister attacked the country’s groundbreaking $8.5 billion climate finance pact with some of the world’s richest nations, alongside finance from other sources, whereby it will close some coal-fired power plants and re-purpose them to produce renewable energy.

** Mexico will refinance Petroleos Mexicanos’s debt since it’s cheaper than if the state oil giant goes to the market itself, according to the company’s Chief Executive Officer Octavio Romero.