Axios

As of early Tuesday, something unprecedented transpired across the Pacific Ocean. There were two Category 5 storms spinning at the same time, in opposite parts of the massive ocean basin — Super Typhoon Kong-rey and Hurricane Walaka.

Why it matters: According to meteorologist Jeff Masters of Weather Underground, this was the first time on record that two Category 5 storms occurred simultaneously in the Northwest Pacific and the Northeast Pacific.

Money-manager Ron Baron, whose firm Baron Capital is Tesla's 13th largest shareholder, according to FactSet, told CNBC that Tesla could generate $1 trillion in revenue by 2030 and could sell up to 15 million cars per year.

Why it matters: Baron's prediction is ultra-bullish, perhaps even for a 12-year forecast. While Tesla reported $11 billion in revenue last year, and announced Tuesday that it had met third quarter production goals, there are new questions about whether demand for its vehicles are softer than expectations. Tesla has also seen a tumultuous few months after CEO Elon Musk's "go-private tweet" resulted in an SEC settlement under which Musk was forced to pay a $20 million penalty and step down as chairman of the company.

Oil prices are trading around their highest levels since late 2014 and have clearly abandoned — at least for now — the $70 to $80 neighborhood where Brent lurched around in the spring and summer.

Where it stands: Brent crude slipped back a bit to around $84.61 while U.S. benchmark WTI trades around $75.31, as of publication this morning.

Tesla produced 53,239 Model 3 sedans in the third quarter and delivered 55,840, the company announced Tuesday, meeting its goal of producing between 50,000 and 55,000 Model 3s in the quarter.

Why it matters: Tesla delivered 83,500 vehicles in Q3, which the company said is 80% more than what they delivered during all of 2017. This comes at the height of a tumultuous few months for the electric car-maker following CEO Elon Musk's "go-private tweet," that resulted in an SEC settlement under which Musk was forced to pay a $20 million penalty and step down as chairman of the company.

The chief technology officer of Saudi Aramco, Ahmad Al-Khowaiter, sat down with Axios on the sidelines of a recent conference in New York to discuss what Saudi Aramco is doing to develop more sustainable resources.

Why he matters: He runs the growing tech work inside Saudi Arabia’s state-owned oil company, which pumps more oil out of the ground than any other oil company in the world.

Tesla stock surged 17% on Monday, wiping away major losses last week, after CEO Elon Musk reached a settlement with the U.S. Securities and Exchange Commission that required him to pay a $20 million fine and step down as chairman.

What's: Tesla's third-quarter vehicle production and delivery numbers are expected to be announced in days, and Q3 financial results will be reported in a few weeks.

Dan and Axios' Felix Salmon discuss the settlement between Tesla's Elon Musk and federal securities regulators, which includes a requirement that Musk step down as Tesla's chairman for three years.

"Musk's tweets were reckless and untrue and, even if he’d somehow prevailed in court, it would have only been after months of uncertainty for Tesla employees, shareholders and customers. Now he and the company can get back to making cars, not controversy."

• Go deeper: Elon Musk and the SEC both cave

Husky Energy made an unsolicited $6.4 billion takeover offer for rival Canadian oil and gas producer MEG Energy, representing a 37% premium over Friday's close.

Why it matters: This is China's battle for Canada's oil sands. Husky is controlled by affiliates of Hong Kong billionaire Li Ka-shing, while Cnooc holds a 12% stake in MEG. Per Bloomberg's Kevin Orland, "The takeover would create an oil producer churning out more than 410,000 barrels of oil equivalent a day and with an almost equal amount of refining capacity."

Shares of Tesla surged 15% on Monday, following Musk's $20 million settlement with the Securities and Exchange Commission over his "funding secured" tweet and a leaked memo to employees about near-term profitability.

Why it matters: With the gains on Monday, Tesla has recovered all of its losses from last week, when the SEC initially sued Musk. In investors' minds, the worst-case scenario for Tesla — the removal of Musk as CEO — has been avoided.

Go deeper: Elon Musk and the SEC both cave

Shares of Tesla surged 15% on Monday, following Musk's $20 million settlement with the Securities and Exchange Commission over his "funding secured" tweet and a leaked memo to employees about near-term profitability.

Why it matters: With the gains on Monday, Tesla has recovered all of its losses from last week, when the SEC initially sued Musk. In investors' minds, the worst-case scenario for Tesla—the removal of Musk as CEO—has been avoided.

Saudi Arabia has put its $200 billion plan to build the world's largest solar project on hold, according to the Wall Street Journal, which cites Saudi government officials as sources.

Why it matters: The news signals the struggles and challenges the Saudis face in implementing ambitious plans to diversify their crude-reliant economy.

A nascent organization funded by global oil companies to address climate change may seem ironic — but it's a credible effort that could actually have a real impact.

Why it matters: Under pressure from investors and lawsuits, oil companies are starting to acknowledge climate change and slowly shift their business models in response.