A series of dangerous heat waves this summer — including one that has left 17 states under an emergency federal order — are putting the electric grid under an intense real-world stress test.
Why it matters: Successive summer heat waves are forcing utilities to rethink how they prepare the grid for longer and more frequent periods of extreme stress.
The U.S. economy grew at a 1.5% annualized rate in the second quarter, the government said on Thursday, capturing a three-month stretch shaped by the Middle East conflict and a surge in energy prices.
Why it matters: Consumer spending and business investment fueled by AI spending remained the economy's standout growth engines in the spring.
The Iran war has revealed China's enormous power over global oil prices, thanks to its position as the world's largest buyer.
Why it matters: China's reaction to the oil shock — by substantially withdrawing from buying on world markets — helped prevent the worst of the price spikes that experts thought would follow from the effective closure of the Strait of Hormuz.
