** As the death toll from the Texas tragedy continues to rise, EPA administrator Lee Zeldin has fueled claims about weather manipulation and has tasked his agency to investigate them including such things as geoengineering and contrails.
** Bill Nye “The Science Guy” said that fossil fuel companies and U.S. Congress neglecting the climate crisis is a big reason the flooding in central Texas was so destructive.
** President Donald Trump claims that rapid adoption of solar and wind power has made U.S. electricity unstable and expensive, justifying his bid to end most subsidies for renewable energy. But reliability has improved dramatically in the U.S. grid with the most renewable energy – in Texas – and electricity prices there are below the national average, according to regulatory filings and price data reviewed by Reuters.
** MP Materials Corporation surged as much as 60% on news that the Defense Department is taking a stake. The United States Department of Defense has agreed to purchase $400 million of the company’s newly created preferred shares, making the Pentagon MP’s largest shareholder.
** Yet another big Ford recall has been announced, with 850,318 units included in the latest issue — and this one sweeps across Dearborn’s body-style lineup. Specifically, model year 2021–2023 examples of the Ford Bronco, Explorer, Lincoln Aviator, F-250 Super Duty, F-350 Super Duty, F-450 Super Duty, F-550 Super Duty, model year 2021–2022 Lincoln Navigators, Ford Mustangs, Ford F-150s, and 2022 Expeditions are all included in the recall.
** PJM (Pennsylvania-New Jersey-Maryland) Interconnection, America’s largest power grid operator, is grappling with an unprecedented strain on its system. The 2025 summer season could see electricity bills in the 13 states it serves, ranging from Illinois to New Jersey, soar by more than 20%, as reported by Reuters.
World
** Demand for oil faces a dramatic slowdown as China’s electric car revolution pushes combustion-engine vehicles off the road, the International Energy Agency (IEA) has said. World oil demand will climb by just 700,000 barrels a day in 2025, for a total of just under 103m barrels a day.
** Electric-powered heavy trucks are rapidly gaining market share in China, driven by subsidies and the quick rollout of chargers, further curbing diesel usage and denting oil demand from the world’s biggest crude importer.
** German auto giant Volkswagen said it had suspended deliveries of its electric minivan ID. Buzz due to a technical issue amid reports the decision was influenced by costly US tariffs on cars.