Today’s headlines: $10 trillion in climate damages, an ethanol waiver, and more

This roundup of U.S. energy news headlines is part of our Canary Media Daily newsletter. Sign up to get it in your inbox each morning.

IRAN

• A Chinese energy executive says the country may reach peak oil demand sooner than expected as conflict in the Middle East drives China even further toward renewables. (Nikkei)

• Energy Secretary Chris Wright says gas supply disruptions in the Middle East could boost the case for an Alaskan LNG pipeline that would run fuel south from the state’s North Slope. (Axios)

• Half of oil executives surveyed by the Dallas Federal Reserve say their drilling plans for this year haven’t changed despite rising oil prices, while 21% say they’ll increase drilling significantly. (Dallas Fed)

BIOFUELS

• The EPA will allow the use of higher ethanol blends of gasoline this summer amid skyrocketing prices at the pump. (Inside Climate News)

POLITICS

• Senate Minority Leader Chuck Schumer (D-N.Y.) says Democrats will look to restore and expand renewable energy tax credits if they regain control of Congress this year. (New York Times)

CLIMATE

• A new study finds U.S. greenhouse gas emissions have led to $10 trillion in global damages by driving up temperatures and exacerbating extreme weather, with a quarter of those damages happening in the U.S. (The Guardian)

NUCLEAR

• Fermi America, which aims to power data centers with nuclear, will work with the Nuclear Regulatory Commission on a pilot program to speed environmental reviews. (World Nuclear News)

DATA CENTERS

• The head of Texas’ Public Utility Commission says regulators are wrestling with how to accommodate large users joining the grid, and are considering an overhaul of the state’s power market in the process. (E&E News)

• At CERAWeek, Fermi’s CEO argues only gas and nuclear can provide reliable power for data centers, while Google’s data center head says renewables and battery storage can do the job. (Latitude Media)

CLEAN ENERGY

• The DOE announces a $50 million effort to boost ​“affordable, reliable, and secure” power development in tribal nations. (news release)