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Electric Vehicles

Saudi Aramco’s Big Bet on Combustion Engines

On the future of ICEs, stuck bridges, and patriotic appliances

Saudi Aramco’s Big Bet on Combustion Engines
Heatmap Illustration/Getty Images

Current conditions: Some Greek islands are resorting to desalinating sea water for tourists this summer as reservoirs run dry • Tokyo residents have been warned to avoid physical activity due to a risk of heatstroke • It will be 98 degrees Fahrenheit today in Washington, D.C., where Biden is hosting a NATO summit.

THE TOP FIVE

1. Oil giant invests big in internal combustion engines

The world’s largest oil company, Saudi Aramco, recently invested €740 million (about $800 million) in taking a 10% stake in a company that makes internal combustion engines (ICEs), the Financial Times reported, signalling that the oil giant believes these engines aren’t going anywhere anytime soon. The investment in Horse Powertrain is based on a calculation that “as the industry stops designing and developing its own combustion engines, it will start buying them from third parties,” the FT wrote. Aramco’s executive vice president, Yasser Mufti, told the paper he thinks ICEs will see “significant improvements” over the coming years that will make them more sustainable, but didn’t specify what those improvements might be. ICEs, of course, run on fossil fuels and spew greenhouse gases into the atmosphere. Saudi Aramco last year bought lubricant brand Valvoline, which will supply all Horse engines with products. As the FT noted, “the venture’s success will depend on whether other carmakers are willing to put their trust in a company born out of their rivals.”

2. Weakened Beryl spawns tornadoes as it moves north

At least seven people are dead and more than 2 million remain without power in Texas after Hurricane Beryl made landfall on the state’s Gulf Coast yesterday. Officials are assessing the economic damage, but large parts of Houston are flooded, with water levels exceeding 10 inches. The streets are littered with branches and downed power lines, and first responders have been dispatched to help stranded residents. Temperatures are climbing in the area, posing even more risk to people without power.

A stranded vehicle on a flooded road in Houston. Brandon Bell/Getty Images

The storm system has been downgraded to a tropical depression but is expected to bring heavy rain and tornado conditions to Oklahoma, Arkansas, Missouri, and parts of southern Illinois and Indiana as it tracks northeast this week. Already more than 110 tornado warnings were issued overnight across in eastern Texas, Louisiana, and Arkansas, which is “the most tornado warnings issued in the U.S. in a single July day since records began in 1986,” according to weather analyst Colin McCarthy.

3. NYC bridge temporarily closed because of extreme heat

The Third Avenue Bridge in New York City was temporarily closed yesterday after sweltering temperatures caused its steel to expand. The 126-year-old bridge, which serves as an artery between the Bronx and Manhattan, swings opened to accommodate water traffic in the Harlem River. Temperatures reached 95 degrees Fahrenheit in the city yesterday, and after the bridge opened, it wouldn’t close. Authorities tried to cool the structure by spraying water on it. Eventually the bridge reopened a few hours later. Yesterday was the hottest day of the year so far in NYC, and the heat wave will last through the week.

4. House tees up votes on efficiency standards for household appliances

House Republicans are expected to vote today on two bills aimed at curbing the Department of Energy’s authority to set efficiency standards for home appliances. H.R. 7637, known as the “Refrigerator Freedom Act,” and H.R. 7700, aka the “Stop Unaffordable Dishwasher Standards Act,” would “prohibit the Secretary of Energy from prescribing or enforcing energy conservation standards” that “are not cost-effective or technologically feasible.” The DOE finalized efficiency standards for several appliances over the last few months, aiming to improve their performance, cut greenhouse gas emissions, and save consumers money. It estimated the standards will save Americans $33 billion on utility bills over 30 years. Republican lawmakers claim the new rules will increase the costs of appliances, but others say the savings on utility bills would more than make up for any short-term increase in sticker prices. Most of the energy consumed by homes and commercial buildings goes toward powering appliances.

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  • 5. Colombia sees deforestation drop

    Deforestation in Colombia dropped by 36% last year to a 23-year low, according to the nation’s environment ministry. The government credits its program of paying farmers to conserve nature, as well as peace talks with guerilla groups. But those peace talks have reached a stalemate, and deforestation has increased in 2024. “It's really good news ... but we definitely cannot say that the battle is won," Environment Minister Susana Muhamad said.

    THE KICKER

    “Each push alert marks the distance we’re closing between the previous range of normal activity and the future that scientists warned us of.”Zoë Schlanger writing in The Atlantic about how we’ll watch the climate crisis unfold through emergency push alerts on our phones.

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    Politics

    Trump’s Tiny Car Dream Has Big Problems

    Adorable as they are, Japanese kei cars don’t really fit into American driving culture.

    Donald Trump holding a tiny car.
    Heatmap Illustration/Getty Images

    It’s easy to feel jaded about America’s car culture when you travel abroad. Visit other countries and you’re likely to see a variety of cool, quirky, and affordable vehicles that aren’t sold in the United States, where bloated and expensive trucks and SUVs dominate.

    Even President Trump is not immune from this feeling. He recently visited Japan and, like a study abroad student having a globalist epiphany, seems to have become obsessed with the country’s “kei” cars, the itty-bitty city autos that fill up the congested streets of Tokyo and other urban centers. Upon returning to America, Trump blasted out a social media message that led with, “I have just approved TINY CARS to be built in America,” and continued, “START BUILDING THEM NOW!!!”

    Keep reading...Show less
    AM Briefing

    Nuclear Strategy

    On MAHA vs. EPA, Congo’s cobalt curbs, and Chinese-French nuclear

    Nuclear power.
    Heatmap Illustration/Getty Images

    Current conditions: In the Pacific Northwest, parts of the Olympics and Cascades are set for two feet of rain over the next two weeks • Australian firefighters are battling blazes in Victoria, New South Wales, and Tasmania • Temperatures plunged below freezing in New York City.


    THE TOP FIVE

    1. New defense spending bill makes nuclear power a ‘strategic technology’

    The U.S. military is taking on a new role in the Trump administration’s investment strategy, with the Pentagon setting off a wave of quasi-nationalization deals that have seen the Department of Defense taking equity stakes in critical mineral projects. Now the military’s in-house lender, the Office of Strategic Capital, is making nuclear power a “strategic technology.” That’s according to the latest draft, published Sunday, of the National Defense Authorization Act making its way through Congress. The bill also gives the lender new authorities to charge and collect fees, hire specialized help, and insulate its loan agreements from legal challenges. The newly beefed up office could give the Trump administration a new tool for adding to its growing list of investments, as I previously wrote here.

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    Green
    Bruce Westerman, the Capitol, a data center, and power lines.
    Heatmap Illustration/Getty Images

    After many months of will-they-won’t-they, it seems that the dream (or nightmare, to some) of getting a permitting reform bill through Congress is squarely back on the table.

    “Permitting reform” has become a catch-all term for various ways of taking a machete to the thicket of bureaucracy bogging down infrastructure projects. Comprehensive permitting reform has been tried before but never quite succeeded. Now, a bipartisan group of lawmakers in the House are taking another stab at it with the SPEED Act, which passed the House Natural Resources Committee the week before Thanksgiving. The bill attempts to untangle just one portion of the permitting process — the National Environmental Policy Act, or NEPA.

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