Axios

Agriculture Secretary Sonny Perdue directed the USDA Forest Service on Friday to prioritize resource extraction in national forests and grasslands, particularly for grazing, mining, oil and gas development.

Our thought bubble via Axios' Amy Harder: The move shows how deep into the federal bureaucracy the Trump administration is reaching to remove regulations and, it argues, help the economy recover from the pandemic-induced recession.

The crude oil price recovery has hit the skids, a gloomy sign for U.S. producers, some of whom are risking bankruptcy.

What's happening: Oil prices are on track for their first weekly decline in well over a month, per Reuters.

Renewables are attracting substantial investment and developers are getting more bang for the buck, but none of it is enough to be consistent with the goals of the Paris climate agreement, per a data-rich new report from the Frankfurt School, the UN and BloombergNEF.

The big picture: Last year saw 184 gigawatts of new capacity added worldwide (excluding large hydro projects) — the most ever — with solar leading the way. The 12% growth came even though total investment was flat, a sign of continued cost declines for wind and solar technologies.

Tesla's stock rose to more than $1,000 a share for the very first time Wednesday, lifting its valuation above $190 billion.

Why it matters: Given its pace of growth this year, Tesla is now closing in on car industry leader Toyota's $216 billion, according to the WSJ.

Massive offshore wind farms planned for America’s East Coast are poised to move ahead after the Trump administration inched closer this week to approving the first full-scale project.

Why it matters: The Interior Department has been slow to review the project, signaling regulatory trouble for the nascent sector. Then the pandemic hit, increasing the likelihood of a broad delay.