Axios

Brittany Kelm, one of the White House's senior energy advisers, is leaving to work for Sable Offshore, a small oil company with a big political footprint.

Why it matters: Sable Offshore was at the center of a dispute between California and the Trump administration, which invoked the Defense Production Act in March to cut regulatory red tape to help the company quickly boost oil production.

Inflation was benign in July, a second month of relief for American consumers and economic policymakers contending with stubborn price pressures.

• But the encouraging inflation picture may already be out of date, with the data largely capturing prices before renewed Middle East fighting sent energy costs notably higher.

Why it matters: The tame reading might give the Federal Reserve some breathing room to hold off raising interest rates in September. Still, the Iran war and the whiplash in energy prices it has unleashed leave lingering questions about the staying power of the inflation relief.

The state of the global diesel market is getting even more precarious as the Russia-Ukraine war and the Iran crisis squeeze supply from multiple angles.

Why it matters: Diesel prices ripple through economies here and abroad, affecting shipping costs, construction and plenty in between.

Inflation eased in July from a year earlier, with prices inching up slightly from the previous month after falling sharply in June, the Labor Department said Wednesday.

Why it matters: It is the first inflation report since fighting with Iran resumed in early July, though the data suggests inflation had yet to pick back up amid the renewed conflict.

Move over, data centers. AI's climate impact may extend well beyond the electricity it consumes.

Why it matters: A new peer-reviewed study finds AI could help produce more oil and natural gas — and produce a climate impact the authors argue could far outweigh the technology's benefits for renewable energy.

The International Atomic Energy Agency (IAEA) will soon remove nuclear material stored at a clandestine site in Syria after the Trump administration reached understandings with Syria and Israel, according to Israeli and U.S. officials.

Why it matters: The Trump administration and IAEA scrambled to reach a diplomatic agreement to secure the material and prevent an escalation involving Israel, Syria and possibly even Turkey over the sensitive site.

July was the hottest month on record for the contiguous U.S., per new federal data dating back to 1895.

By the numbers: Last month's average temperature was 76.89°F, topping the 76.77°F mark set in July 1936.

A flurry of federal investments in mining and mineral supply chains could help the electric vehicle industry that famously isn't President Trump's jam.

Why it matters: The White House emphasized the support as a way to diversify supply chains critical to defense, aerospace and other sectors.

America's start-of-school season stretches nearly two months.

Why it matters: Gone are the days of a shared "back-to-school" moment. U.S. schools reopen on schedules that stretch from mid-July to mid-September, depending on where they are.

The profile of the proposed $67 billion merger between NextEra and Dominion just got even higher — and the path toward creating a new power giant just got even trickier.

Why it matters: Virginia Gov. Abigail Spanberger's (D) move Thursday to formally take part in the state regulatory proceeding is more than just inside baseball.