ExxonMobil said it added 4.5 billion barrels of oil equivalent to its proven reserves last year, which is over three times what the multinational giant produced in 2017.
Why it matters: The strong performance represents a major bounce back from some high-profile struggles, notably in 2016 when Exxon was forced to cut reserves by over 3 billion barrels.
Senate Democrats are taking new steps to try and parry GOP attacks on the Green New Deal after a troubled rollout that has revealed fissures in their ranks.
Why it matters: Democrats are seeking to coalesce around a strategy as Republicans look to put them in a tough political spot with the GND. The GND has uncertain support among Senate Democrats despite co-sponsorship from a half-dozen of them running for president.
While the Green New Deal is drawing both devotees and detractors on Capitol Hill, green energy is seeing nothing but love in the market.
Driving the news: The International Energy Agency reports that electricity investment has shifted towards renewables, networks and flexibility, while investments in coal dropped by a third in 2017. It's the second year in a row coal- and gas-fired power generation has seen a pullback.
Etsy is offsetting all of its carbon dioxide emissions from shipping at an annual cost of less than $1 million, the company is announcing today.
The big picture: The e-commerce company is the latest in corporate America to ramp up action on climate change in response to the public’s growing awareness on the issue and President Trump’s dismissal of it.
A federal appeals court unanimously affirmed the validity of special counsel Robert Mueller's appointment on Tuesday, rejecting a challenge brought by former Roger Stone associate Andrew Miller.
Background: Miller was ordered by the special counsel to appear before a grand jury last year, but defied the subpoena and alleged that Mueller's appointment was unconstitutional. The court dismissed the argument that the special counsel should have to be confirmed by the Senate, writing that Mueller "effectively serves at the pleasure of an Executive Branch officer who was appointed with the advice and consent of the Senate."
Miller is considering taking the case to the Supreme Court.
Tim Gallaudet, the acting administrator of the National Oceanic and Atmospheric Administration (NOAA), was suddenly replaced on Monday by the No. 3 official at the agency, former weather industry scientist Neil A. Jacobs.
Why it matters: The agency has been operating without a Senate-confirmed administrator for the longest time since it was created in 1970. Gallaudet, a retired U.S. Navy rear admiral, had earned plaudits for advancing the agency's priorities in ocean and atmospheric sciences without succumbing to political interference with climate research, as other agencies have during the Trump administration.
What's new: Late Monday night Musk struck back at the regulators via Twitter, writing, "SEC forgot to read Tesla earnings transcript, which clearly states 350k to 500k. How embarrassing." He also commented via Twitter Tuesday morning that "something is broken with SEC oversight."
GoExpedi, a Houston-based supply chain company for the oil-and-gas sector that's aiming to be "Amazon for the energy industry" has raised $8 million in Series A funding.
Why it matters: The e-commerce company for maintenance, repair and operations — and their new cash — is a sign of how business practices in the booming shale sector are evolving as U.S. production surges.
The continually escalating U.S. sanctions on Venezuela have created problems for more than just the country's president and his inner circle. They are creating "new compliance risks for U.S. and international financial institutions," the Wall Street Journal's Mengqi Sun writes.
Why it matters: Venezuela's state oil company, PDVSA, which has been the target of some sanctions, has many subsidiaries and outsources much of its business to third-party vendors. That means banks are picking over transactions and potential customers with a fine-tooth comb, said Daniel Gutierrez, who chairs the anti-money-laundering compliance committee at the Florida International Bankers Association.
The U.S. sanctions have crippled Venezuela's oil industry so fully that the country has half a billion dollars worth of oil sitting in ships off its coast, Bloomberg's Lucia Kassai and Fabiola Zerpa report.
What's happening: An armada of 16 ships, holding 8.36 million barrels of Venezuelan crude, are floating off the country's coast. The cargoes belong to PDVSA, Chevron, Valero and Russia's Rosneft oil company.
The big picture: Municipalities could use anonymized, secure sensor data in combination with advanced computing to better understand how people travel through and use public space, without sacrificing individual privacy.
Todd Moss is a former State Department official leading a small new nonprofit with a big idea: changing what he calls an incomplete conversation about electricity access in Africa and South Asia.
Why it matters: The Energy for Growth Hub wants to help enable access to power levels needed to build and sustain manufacturing and business development — not just power homes and charge phones.
Republicans should stop denying humans’ impact on climate change and start putting forth policies to address it, former Republican Ohio Gov. John Kasich is set to say at a speech Tuesday night in British Columbia, Canada.
Why it matters: Kasich is a potential 2020 opponent of President Trump — and herepresents the leading edge of a Republican Party slowly evolving away from a decade-long position denying that climate change is a real problem. Kasich revealed his plan for his speech in an exclusive interview with Axios Monday.
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