Peace?
** U.S. President Donald Trump on Sunday urged no further attacks by anyone after Israel’s military said it launched strikes on Hezbollah targets in Beirut, potentially complicating efforts to finalize a deal to end the U.S.-Iran war. Smoke rose over the Lebanese capital, and the health ministry said three people were killed and 16 others wounded. Iran threatened a military response. Trump reacted on social media: “We are very close to a Deal that will bring peace to the region, including to Lebanon” and “Let’s not blow it!”
Details
** A senior Iranian official told Reuters a final draft of the memorandum of understanding with the U.S. covered a range of issues, from Tehran’s nuclear work to reopening the Strait of Hormuz and U.S. waivers on oil sanctions, with a final deal to be discussed in the 60 days following agreement by the two sides.
Billions to Iran?
** The United Arab Emirates has agreed to release billions of dollars to Iran in exchange for Tehran halting its attacks on the Gulf state, according to reports. News of the deal comes as both Tehran and Washington have indicated that they are close to an agreement on ending the war, which could involve releasing tens of billions of dollars in Iranian oil revenues frozen in foreign banks because of US sanctions.
Indian in mourning
** India on Friday took the rare step of lodging a second protest with the U.S. over the strike that killed three Indian sailors on board a tanker and took place more than three months into the Iran war. Families of the victims are also calling for their Indian government to do more to protect its sailors stuck in the Gulf.
Fuel crisis
** In a new blow to the Kremlin’s narrative that Moscow is winning the 4-year-old war in Ukraine, Kyiv’s forces have targeted supplies to Crimea, triggering the worst fuel crisis on the Black Sea peninsula since it was illegally annexed by Russia in 2014.
Venezuelan oil
** Reuters reports from Caracas that “Venezuela signed five agreements with British oil major Shell on Thursday to advance oil and gas projects, including the company’s participation in the coveted 7-trillion-cubic-feet Loran offshore gas field, the government said.”
US Energy
** Renewable energy groups are suing the U.S. military because they say national security reviews for new wind farms on private land have been effectively frozen for months. The groups say this logjam jeopardizes $47 billion in investments and thousands of jobs in 21 states. The lawsuit against the Pentagon and Defense Secretary Pete Hegseth was filed in U.S. District Court in Oregon by nine groups, including Renewable Northwest and the Advanced Power Alliance.
** Twelve has started commercial operations at Air Plant One in Washington state, the first U.S. facility producing power-to-liquid sustainable aviation fuel and e-naphtha from captured carbon dioxide, water, and renewable electricity.
** Solar hits a new hourly generation record in New York, meeting about 29% of the state’s electricity demand around noon on June 3, mostly thanks to behind-the-meter systems.
** The Republican candidate for governor of Pennsylvania says she would reverse a state ban on new fracking sites in order to “unleash” the state’s natural gas industry.
** Sempra has received ERCOT approval for over $7B in new transmission projects, including lines in the Dallas-Fort Worth area. They’ll collectively support >16GW of new demand. Most will likely be built by Oncor (which could become the country’s quickest-growing public transmission utility).
