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Energy Policy.  In efforts to allay fears of allies in the Middle East over the Iran nuclear deal, Obama administration officials are increasing the $3 billion U.S. military aid package to Israel and plan to accelerate plans for other Arab states in the Persian Gulf to develop integrated regional ballistic missile defense capability.   President Obama wants to assure that Israel doesn’t launch a military strike on Iranian nuclear sites, and is also concerned that the Israeli influence over Congress could sway its vote to approve or disapprove the final deal.  WSJ

Oil.  A report from Moody’s rating agency predicts that lifting sanctions on Iran will increase Iranian oil production, as well as put pressure on other hydrocarbon exporters to increase output as they seek to offset lower oil prices.   Further, the report predicts that Iran’s renewed access to finance could result in increasing support for proxy groups in Lebanon, Yemen, and Syria, which could escalate geopolitical risk in the region  FT

Climate Change.  China’s declared “war against pollution” is getting a boost from its slowing economy, as the government forces industries that are over capacity — like steel, cement, and glass making — to slim down.  Official air-pollution data released by China’s government show that levels of fine-particulate matter damaging to human health (or PM2.5) fell more than 15% in Beijing in the first half of 2015, compared with year-ago levels.  WSJ

Oil.  While lower oil prices initially sparked a sharp decline in drilling activity and subsequent drop in investment and jobs, economists predict that these losses are soon to be offset by the extra money being spent on American goods and services rather than foreign oil.  Federal Reserve data released last week show that the sharp downdraft in drilling activity eased in June, and layoff announcements in the energy sector have also been subdued — leading the Wall Street Journal to report that the drag from oil on the economy should diminish in the months ahead.  WSJ

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Energy Policy.  The Interior Department proposed a new rule yesterday that aims to protect streams by curbing pollution caused by mountaintop removal mining.  Obama administration officials assert that while the rule is unlikely to significantly deter this mining technique, it will require coal companies to partake in additional testing and cleanup efforts.  NY Times

Energy Policy.  Cass Sunstein of Bloomberg View discusses a recent report from the Interagency Working Group on the Social Cost of Carbon, which has been charged with placing a dollar value on the cost of one ton of carbon emissions in order to aid the the cost-benefit analysis of EPA regulations.  Cass notes that there are many uncertainties and points of disagreement in determining this figure, such as the scale of damage that should be considered, the best way to value future damages, and assumptions used in assessment models.  Bloomberg View

Energy Policy.  President Obama met today with Saudi Arabia’s foreign minister — the first visit with a key American ally from an Arab state since the Iran nuclear deal was reached on Tuesday.  Arab states have been deeply skeptical of Mr. Obama’s diplomatic outreach to Iran, and the White House is working to ease fears and follow through on commitments made earlier this year to provide them with new military and security guarantees.  WSJ

Oil.  John Kemp of Reuters notes that once Iran’s sanctions are lifted, the country may be able to reach production at pre-sanctions levels relatively quickly by reactivating idle wells and increasing the flow rates on existing ones.  Kemp asserts that Iran’s biggest challenge ahead will be marketing its crude without crashing prices, as its medium-density crude competes directly with similar grades from Saudi Arabia, Kuwait, and Iraq.  Reuters

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Oil.  Mexico is auctioning 14 exploration blocks in efforts to attract international energy giants and increase the country’s oil production by 40% over the next decade.  The move is symbolic, as Mexico has not allowed other foreign countries to compete or partner with its national oil company for nearly 80 years.  NY Times

Energy Policy.  In a 67-minute news conference at the White House yesterday, President Obama forcefully defended the Iran nuclear deal reached the day before and urged lawmakers — who have 60 days to review the agreement — not to force him to use his veto to save what will likely be his crowning foreign policy achievement.  Mr. Obama criticized the deal’s opponents, noting that none of them have presented a better option and that the alternative to resolving the issue of Iran obtaining a nuclear weapon diplomatically is using military force. WSJ

Oil.  Now that the array of U.S. and EU sanctions are lifted, the world’s largest energy groups are planning to return business to Iran — a country the Financial Times is calling the “oil and gas multibillion-dollar candy store.”   Iran is desperate to rehabilitate its domestic oil and gas industry, recently plagued by mismanagement, corruption, and under-investment.  FT

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Energy Policy.  Today marks the 17^th day of talks between Iran and six major powers in efforts to establish a deal that would block Iran’s near-term path to construction of a nuclear weapon in exchange for lifting international sanctions.  While European officials suggested that Monday was a “make-or-break” day for the negotiations, U.S. diplomats aren’t pressured to walk away from talks so long as the parties continue to make progress. WSJ

Energy Outlook.  The Financial Times reports that the falling price of crude oil endangers poorer nations’ ability to switch to renewable energy.   This is particularly relevant for island countries and smaller countries in Africa, which rely heavily on expensive and polluting diesel, heavy fuel oil, and/or kerosene and have slowed efforts to move towards renewables now that savings in these investments have become less obvious.  FT

Oil.  OPEC cut its demand forecast for crude this year to 29.2 million a day — a level far below its previous 2015 projection, as well as its current output.  The cartel also increased its forecast of non-OPEC supply growth this year, while also increasing its forecast for world oil demand in 2015.  WSJ

Climate Change.  In response to pleas from activists and business leaders across the west, President Obama used executive power to designate three new national monuments that will cover more than a million acres in California, Texas, and Nevada.  The sites were named monuments rather than parks because the associated bill was not authorized by Congress.  WSJ

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Energy Policy.  Today marks the 17^th day of talks between Iran and six major powers in efforts to establish a deal that would block Iran’s near-term path to construction of a nuclear weapon in exchange for lifting international sanctions.  While European officials suggested that Monday was a “make-or-break” day for the negotiations, U.S. diplomats aren’t pressured to walk away from talks so long as the parties continue to make progress. WSJ

Energy Outlook.  The Financial Times reports that the falling price of crude oil endangers poorer nations’ ability to switch to renewable energy.   This is particularly relevant for island countries and smaller countries in Africa, which rely heavily on expensive and polluting diesel, heavy fuel oil, and/or kerosene and have slowed efforts to move towards renewables now that savings in these investments have become less obvious.  FT

Oil.  OPEC cut its demand forecast for crude this year to 29.2 million a day — a level far below its previous 2015 projection, as well as its current output.  The cartel also increased its forecast of non-OPEC supply growth this year, while also increasing its forecast for world oil demand in 2015.  WSJ

Climate Change.  In response to pleas from activists and business leaders across the west, President Obama used executive power to designate three new national monuments that will cover more than a million acres in California, Texas, and Nevada.  The sites were named monuments rather than parks because the associated bill was not authorized by Congress.  WSJ