Saudi Aramco’s Big Bet on Combustion Engines

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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