Axios

The global average temperature for the first quarter of 2018 was cooler than in recent years but warm compared to historical averages, new federal data shows.

By the numbers: Temperatures were 1.33°F above the 20th century average, and it was the sixth-warmest January–March in modern temperature records that date back to 1880.

Oil prices are on the march again Thursday after climbing sharply yesterday, with WTI prices this morning above $69 per barrel and Brent crude, the global benchmark, earlier reaching $74.61.

Crude oil is trading at its highest levels in well over three years.

Why it matters: As we noted yesterday in the Axios stream, the price jump suggests that oil may no longer be stuck in the $60 to $70-a-barrel range, but may have room to rise much higher. That would put a lot more money in the coffers of the petro-states, and could bring inflation to oil-consuming states.

The Environmental Protection Agency released an annual report Wednesday that concludes 2016 greenhouse gas emissions are 2% lower than the previous year and 11% lower than 2005.

What they're saying: EPA Administrator Scott Pruitt said on Twitter that the report's findings aren't a result of the Obama administration’s "top-down" regulations, like a rule that cuts carbon emissions from power plants or the "misguided" 2015 Paris climate deal. Instead, Pruitt said “American ingenuity and tech breakthroughs have made US the world leader in energy dominance while reducing emissions.”

Tesla is being investigated by California’s Division of Occupational Safety and Health for its worker protection policies after a story was published by Reveal stating that the company failed to disclose worker injuries, reports Bloomberg.

The details: Reveal's story added that Tesla employees on the environment, health and safety team reported that the personal preferences of CEO Elon Musk were regularly cited as a reason not to address possible risks in production. Tesla responded to Reveal's story in a blog post calling it “an ideologically motivated attack by an extremist organization working directly with union supporters to create a calculated disinformation campaign against Tesla,” per Bloomberg.

Crude oil prices jumped Wednesday thanks to new data showing more shrinkage of the U.S. oil stockpile and signs that OPEC and Russia are continuing their tight supply policy.

Why it matters: The price surge suggests that oil may no longer be stuck in the $60 to $70-a-barrel range, but may have room to rise much higher. That would put a lot more money in the coffers of the petro-states, and could bring inflation to oil-consuming states.

France-based multinational oil giant Total announced Wednesday that it's acquiring a 74% stake in the big French electricity company Direct Energie.

Why it matters: It's another sign that European oil giants are increasingly entering the electricity and vehicle electrification space, a move driven in part by pressure from climate policy to diversify their businesses.

Four states now generate at least 30% of their electricity annually from wind, now that Oklahoma and Kansas have joined Iowa and South Dakota on the 2017 list. That's one factoid from the American Wind Energy Association's annual report on the state of the wind power market.

Why it matters: It's a data point that underscores the growth of renewables in U.S. power markets. The chart above shows the penetration of utility-scale wind nationwide.

Glenn Booraem, head of Vanguard's investment stewardship team, is a key figure in this spring’s annual meetings with publicly owned companies where climate change is expected to be prominently featured.

Why he matters: Vanguard is one of the world’s largest investment firms, with more than $3 trillion in global assets. Climate change has become a top issue for large asset managers like Vanguard. Axios spoke to Booraem about this and much more last week.