Axios

The Environmental Protection Agency will no longer impose limits on perchlorate, a toxic chemical compound linked to fetal and infant brain damage, the New York Times reports.

Where it stands: “The agency has determined that perchlorate does not occur with a frequency and at levels of public health concern, and that regulation of perchlorate does not present a meaningful opportunity for health risk reduction for persons served by public water systems,” the draft policy reads, the NYT reported according to unnamed EPA staff members.

There are certainly more riveting terms than "task force," but it'll be fascinating to see what comes of the climate task force announced yesterday by former Vice President Joe Biden and Sen. Bernie Sanders.

Catch up fast: Sanders' representatives include high-profile progressive Rep. Alexandria Ocasio-Cortez, who will co-chair the group, and the co-founder of the upstart Sunrise Movement, which hasn't been shy about attacking Biden's climate plan.

Global oil production is dropping faster than expected as companies in North America and elsewhere curb output in response to the pandemic that has caused demand and prices to crater, the International Energy Agency said.

Why it matters: The monthly report this morning sounds guardedly optimistic notes about the stabilization of oil markets, noting that in addition to the production cuts, collapse in demand is slightly less dire than earlier predictions.

Renewable energy production in the United States is set to overtake coal in 2020 for the first time, according to new projections from the Energy Information Administration.

Why it matters: Coal was historically the dominant source of electricity for the country, and renewable energy's rise comes despite the Trump administration’s attempts to revive the coal industry by pollution and coal-burning power plant regulations, per the New York Times.

A group of wealthy donors that has funded far-left climate activists is now beginning to support interests pushing more moderate ideas.

Why it matters: The development shows the rising prominence of centrist climate-change policies in light of Joe Biden beating Bernie Sanders in the Democratic presidential contest and the coronavirus pandemic thrusting economic worries to the nation’s front-burner.

The Trump administration is not planning specific financial aid to beleaguered oil producers, Energy Secretary Dan Brouillette told Axios Wednesday.

Driving the news: The administration has taken a few narrow steps. But rumors have been rampant that the government was planning a drastic move ever since President Trump tweeted on April 21 that he ordered Brouillette and Treasury Secretary Steven Mnuchin to "formulate a plan which will make funds" available to the sector.

A new group staffed by veterans of Democratic politics and advocacy is launching today with the aim of "changing the politics of climate in 2020" — especially in swing states.

Why it matters: The launch of Climate Power 2020 represents both a new effort to put President Trump on the defensive but also to lay the groundwork for Democrats to prioritize climate policy during and after the election campaign.

The Energy Information Administration has again cut its U.S. oil production forecast as companies curb output amid the price and demand collapse driven by the coronavirus pandemic.

Driving the news: The agency now sees production averaging 11.7 million barrels per day this year and 10.9 million in 2021.

A new Wood Mackenzie report tries to grapple with ways that the coronavirus pandemic might be an inflection point for the global energy system that changes its trajectory for decades.

Why it matters: The consultancy concludes that, depending on how things shake out, the pandemic could greatly accelerate coal's decline and hinder the long-term growth of oil demand.