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Climate Tech

The Strait of Hormuz.
AM Briefing

‘Incidents and Miscommunication’

On Michael Bloomberg’s big climate gift, SMRs in Ohio, and the consequences of a “Super El Niño”

Climate Tech

Climate Tech SPACs Are Back

This time with more rules — but risk remains.

Blue
AM Briefing

Strait Shooting

On Estonian nuclear, solar’s land use, and Kristi Noem’s mining gig

Green
AM Briefing

The Road to Damascus

On carbon removal funding, Chinese nuclear, and Hawaiian solar

Green
Stoves fighting.

America’s Most Hyped Induction Stove Startups Are Suing Each Other

Copper and Impulse Labs have taken their patent fight to court.

A petrol station.

Crude Logic

On permitting reform, Japanese rare earths, and Rolls-Royce nuclear

Green
AM Briefing

‘Let the Oil Flow!’

On Trump’s wind concession, gas tax holidays, and CDP goes B2B

Donald Trump.
<p>Heatmap Illustration/Getty Images</p>

Current conditions: The Pacific has officially entered El Niño, and the warmer-than-average weather pattern is expected to be stronger than usual • Heavy rains are deluging China’s Hunan and Guangxi provinces • While Puerto Ricans living in New York just threw the diaspora’s annual parade, thousands of Boricuas living on the island are enduring days of water shortages so severe the U.S. territory’s governor activated the National Guard.


THE TOP FIVE

1. Trump announces Iran deal to reopen the Strait of Hormuz

In a pair of Sunday evening posts on Truth Social, President Donald Trump said a “great deal” with Iran to end the conflict and reopen the Strait of Hormuz without any tolls was “now complete.” As part of the truce, Trump said he would “authorize the immediate removal of the United States Naval blockade” at the mouth of the Persian Gulf. The waterway through which up to a quarter of the global seaborne oil trade travels will remain closed until the deal is signed on Friday, Trump said, “for purposes of mine removal,” meaning Iran will collect the explosives its military planted around the strait to prevent vessels from passing. “Ships of the World, start your engines,” Trump wrote. “Let the oil flow!”

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Daily Briefing

5 Thoughts About the SpaceX IPO

Welcoming the world’s first clean energy trillionaire.

5 Thoughts About the SpaceX IPO
<p>Illustration by Simon Abranowicz</p>

SpaceX is now a public company. The rocket and satellite maker’s shares began trading this morning, surging 19% from their initial price of $135 to more than $160 at the market close. With the sale, Elon Musk became the world’s first trillionaire; his wealth has roughly tripled since President Donald Trump won re-election in 2024.

I’ll let other observers judge the IPO’s success, the firm’s long-term prospects, and the meaning of a world where we now have trillionaires. So I will make a few other points:

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