Good morning and welcome back! Today's edition brings you from Washington to Europe to Silicon Valley. Whew! Please send some coffee, not to mention confidential tips and feedback, to firstname.lastname@example.org. Let's go . . .
Royal Dutch Shell reported surging first-quarter profits Thursday morning on the strength of higher oil prices and cost-cutting moves, more than doubling its earnings from the same period last year.
Big picture: "The top five oil 'supermajors' — Shell, ExxonMobil, Chevron, Total and BP — have all beaten expectations with their quarterly results in the past week, marking the clearest sign so far of the industry's gradual recovery from a two-year slump," the Financial Times notes.
Wait, there's more: Norway's Statoil saw a huge surge in earnings, posting $1.1 billion in net income for the first quarter compared to $122 million in the same period last year.
The big Spanish international oil company Repsol also saw a jump in earnings.
What we're hearing: White House economic advisor Gary Cohn is emerging as a focal point for outreach by pro-Paris business officials and other advocates.
European pressure: Reuters reports that EU officials are "scrambling" to convince the White House to stay in the agreement after reports that the "withdraw" camp gained the upper hand.
On K Street: While the buzz lately has been about internal anti-Paris momentum, one industry source isn't buying it, telling Axios:
In Congress: Senate Foreign Relations chairman Bob Corker said bailing on Paris isn't useful, per this tweet from an E&E News reporter with a strong emoji game.Meanwhile, GOP Sen. Susan Collins joined Sen. Ben Cardin, the top Democrat on the Foreign Relations Committee, in a letter supporting U.S. engagement.
I caught up with the Alaska Republican, who chairs the Energy and Natural Resources Committee and the Appropriations subcommittee that writes EPA and Interior budgets.
Alaskan drilling: She's unconvinced by arguments that President Donald Trump's moves to open federal Arctic waters and speed up permitting won't matter much because companies just won't be interested in the hugely expensive and complex projects, given price forecasts and easier options.
EPA: Murkowski suggested that EPA administrator Scott Pruitt should keep steering clear of moves to upend the 2009 "endangerment finding" that greenhouse gases threaten human health, a key foundation of climate regulation.
Pruitt hasn't gone there yet, but some conservative activists are pushing for it. "I think it would be very complicated, very complex. The EPA has got a lot on its plate," she said.
A few notes on Silicon Valley electric automaker Tesla, which saw a jump in revenue but posted a first quarter net loss of $330 million.
Big picture: The loss isn't what's important, it's how Tesla navigates a slew of upcoming projects, notably the launch of the Model 3 sedan later this year.
No superfriends for now: Via Business Insider, CEO Elon Musk said Apple — which is reportedly working on autonomous car technology — isn't interested in collaboration with Tesla. "Yeah I don't think they want to have that conversation," Musk said.
Setting expectations: Musk appeared concerned that expectations for the Model 3 are too high, according to Bloomberg.
The Trump administration has reportedly expressed interest in a proposal for a public forum on climate change science that a former top official in President Obama's administration has suggested.
The details: Steven Koonin, who served as the Energy Department's under secretary for science during two years of Obama's first term, presented the idea in a recent Wall Street Journal opinion piece. He suggests a format where experts take turns critiquing each other's work on climate science in a competitive and public way. The system, called the "Red Team" methodology, is used in the national-security realm, Koonin writes.
For the record: "I can tell you that's found some resonance within the administration," Koonin tells Axios. "I'm just going to say people seem to be interested."
The other side:
Environmental groups are not on board, not surprisingly. Kelly Levin, a senior associate at the World Resources Institute, said such a format is an unnecessary distraction because the "validity of climate science has been confirmed and reconfirmed countless times."
FERC: Utility Dive has a detailed look at the Federal Energy Regulatory Commission's two-day technical conference that saw state regulators grappling with how to integrate climate policies into power markets.
Nuclear: The Wall Street Journal reports that utility giant Southern Company isn't certain it can finish two half-built reactors in light of the Westinghouse collapse.
DOE and states: Greentech Media dives into a topic that's big in the green energy world these days — whether the Trump administration might seek to limit state-based renewable energy policies in the name of shoring up big baseload sources like coal and nuclear.
Thanks for reading! We'll see you back here tomorrow.