Axios

Tesla Inc. shareholders approved $2.6 billion worth of stock options for CEO Elon Musk, dependent on meeting "a set of ambitious financial goals," Bloomberg reports.

The bigger picture: The performance award was criticized by some, asking why Musk "needed more equity to stay motivated," per Bloomberg. But after Musk's successful SpaceX launch in February, concerns have surfaced that "he's looking to lessen his involvement with Tesla." Investors of the company say the award — which binds him to leading Tesla for the next ten years — will help "drive the business forward."

Tasked with defending the Trump administration’s 2019 Department of Energy budget to a Senate committee yesterday, Secretary Rick Perry instead hinted that senators should overrule White House cuts to energy innovation.

“If this Congress, this committee, supports the funding of that, it will be operated in a way you will be most pleased at,” Perry said of ARPA-E, an agency that invests in breakthrough energy technology bets and is slated for elimination in Trump’s budget.

Both sides of a lawsuit on damages from climate change will today in court reaffirm the scientific consensus that human activity is extremely likely to have caused global warming over the last century.

Why it matters: EPA Administrator Scott Pruitt has said he wants to host a public debate discussing to what degree humans are driving the Earth’s temperature to rise. Wednesday’s federal court hearing in San Francisco, in which California cities are suing big oil companies alleging they’re liable for damages related to climate change, is surprisingly providing that debate.

General Motors said it will not delay its plans to field a fleet of self-driving cars next year in the wake of yesterday's fatal accident involving an autonomously-driven Uber vehicle.

"Protecting the safety of the people in the communities in which we live and work, as well as our employees, is at the heart of who we are as a company. Our plans to commercially launch in dense urban environments in 2019 remain unchanged but, as we’ve said from the start, we will not launch until we are satisfied that it is safe to do so.”

The state of play: This follows news that Uber and Toyota have halted testing of their autonomous vehicle programs after yesterday's accident.

Saudi Crown Prince Mohammed bin Salman has inspired optimism in Washington with major initiatives — allowing women to drive, reining in the religious police and formulating a vision for economic reform.

Yes, but: Even after these first breaths of fresh air, hopes for the autocracy to transform overnight remain mistaken.

The United States is quickly ramping up its exports of liquefied natural gas to record levels.

Why it matters: The increase, highlighted by the U.S. Energy Information Administration Monday, is a product of the fracking boom over the last decade that has made America the world’s largest producer of natural gas.

McDonald’s is announcing today its first-ever target addressing climate change, seeking to cut greenhouse gas emissions of its restaurants and offices by 36% in the next 12 years.

Why it matters: As one of the most recognizable brands on Earth, what McDonald’s does matters more than most. The fact it’s putting forth a concrete target, based on 2015 emissions levels, is the latest and one of the strongest signs yet of how corporate America is taking steps to address the issue despite the Trump administration reversing course.