Daily on Energy: Energy & Commerce to take on data center water use

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As the House returns from August recess, lawmakers aren’t wasting any time to address concerns surrounding data centers. The House Energy and Commerce Committee will be holding a hearing on Sept. 3 to weigh in on draft legislation that would require data centers to pay for their water use and infrastructure expansion, as well as disclose where they source that water, a committee spokesperson told Maydeen. The Water Cost Accountability Act is aimed at ensuring communities do not bear costs from data center water consumption. “While data centers consume a fraction of the water of many other industries and have proven that new technologies are actually reducing new water consumption, nonetheless, Americans should have confidence that data center developers are acting responsibly with local water supplies,” Chairman Brett Guthrie of Kentucky said in a statement. “The Water Cost Accountability Act is an important step toward safeguarding our nation’s drinking water and determining whether there are new costs associated with additional water demand,” he added. The committee is no stranger to addressing data center concerns. Before departing for August recess, the committee unanimously voted to advance the bipartisan Ratepayer Protection Act. The bill would require data centers to cover the costs of grid upgrades and other energy system upgrades. CANADA AND U.S. GOING TIT FOR TAT IN TRADE WAR, THREATENING ELECTRICITY PRICES IN SOME STATES: Canada isn’t taking President Donald Trump’s trade threats lightly, with officials warning they could shut off electricity imported south of the border as part of Canada’s retaliation to the new U.S. tariffs. Quick reminder: Trade negotiations between Canada and the U.S. fell apart over the weekend, allowing a 50% tariff on billions of dollars’ worth of Canadian goods to move forward. The steep levy, which covers goods such as cameras, furniture, hockey equipment, cosmetics, and so much more, will formally go into effect on Jan. 1. Trump, who has goaded Canada by signing an executive order to change the name of Lake Ontario to Lake America, escalated the trade fight on Monday by announcing another round of 50% tariffs on automobiles and car parts. Administration officials have defended the tariffs, saying Canada needs to do more to protect the North American market. Canada’s response: Canada quickly hit back, announcing on Tuesday that it would be imposing identical trade penalties on goods from the U.S., matching the Trump administration with “dollar for dollar” rates. Those would go into effect on Sept. 8. Ontario, however, could take things a step further, threatening electricity exports to some Northern states. The province currently exports electricity to New York, Michigan, and Minnesota through high-voltage transmission lines. As the trade war worsens, those exports could be shut off completely. Ontario’s progressive Premier Doug Ford told the Associated Press earlier in the week that “everything is on the table.” He also threatened to cut critical mineral exports from the region to the U.S. “We power 1.5 million homes and businesses,” Ford said. “Everything’s on the table. I’ll do whatever it takes.”Ford has not shied away from pushing back against Trump and his tariffs. During trade disputes last year, Ontario imposed a 25% tariff on electricity exports to the U.S., which was expected to raise bills by around $100 more per month. Tensions ultimately eased, temporarily, and the tariff was scrapped. Experts have said that if Ontario were to cut electricity exports, it likely would not have a dramatic influence on prices in the short term. However, if other provinces did the same, a days-long cutoff would put upward pressure on the market, Doug Arent with the Columbia University Center on Global Energy Policy told The Hill. All the rest TRUMP ADMINISTRATION MAY TAKE A STAKE IN VENEZUELA’S OIL FIELDS: The Trump administration is reportedly having discussions about taking an ownership stake in Venezuela’s oil fields, according to Axios. Two U.S. officials told the outlet that the deal would give the U.S. direct access to some of the country’s oil reserves, which are estimated to have as much as 90 million barrels of proven reserves. In addition to giving the U.S. government a stake, Venezuela would further pave the way for American companies to develop the fields. The deal is reportedly being worked on by U.S. Secretary of State Marco Rubio and Venezuela’s acting president Delcy Rodriguez. Negotiators are currently working on language to dispel concerns that Venezuela would be handing the U.S. its oil through the deal, according to the report. It was not immediately clear when the deal would be announced, but Energy Secretary Chris Wright is reportedly discussing traveling to Venezuela next week. A spokesperson for the secretary did not immediately respond to Daily on Energy’s inquiry. TRUMP’S OIL STOCKS HAVE GROWN AMID IRAN WAR: CBS News is reporting that Trump’s investment accounts continued to make trades in oil and gas companies that raked in billions during the war in Iran. Financial disclosure filings through the second quarter of this year reportedly reveal that Trump purchased and sold oil and gas stocks worth hundreds of thousands of dollars. Specifically, CBS News reported that the president’s accounts executed 3,600 stock trades that were worth as much as $695 million. One of these trades occurred on April 7, when the president declared the first ceasefire with Iran. According to the report, Trump’s investment account sold between $500,000 and $1 million of Exxon Mobil stock. The White House has said Trump was not involved in these trades and does not weigh in on the timing of when they are executed. White House spokesman Davis Ingle told the outlet that all of Trump’s holdings are maintained in discretionary accounts and invested through computer-based model portfolios that automatically replicate recognized indexes, such as the Schwab 1000.Quick reminder: Trump has repeatedly blasted companies like Exxon and Chevron for “too much” profit from the Iran war. “Based on a shortage, they’re making too much money,” Trump said at the start of this month. “I don’t like it, and I should be the last one to say it because I’m a big free enterprise guy. Nobody bigger.”For the three months that ended on June 30, Chevron’s net income increased to $12.2 billion, an almost 400% rise compared to the same period last year, when the company reported $2.5 billion in profits. Exxon recorded a similar increase in profits for the quarter at about $14.5 billion, more than double the $7.1 billion reported in the second quarter of 2025.THOUSANDS ARE MISSING IN NEPAL FLOODS: Rescue teams are on the search for thousands of missing people following the catastrophic flood that happened yesterday on the Nepal-China border. Local reports said that at least 353 people have died and more than 1,300 are missing. Nepal’s National Tourism Board said that nearly 517 foreigners are among those missing people, with 47 of them being U.S. citizens. Many people go to the Himalayan region to trek or hike. The flood was reportedly triggered by the partial collapse of a glacier located near the Nepal-China border, which sent torrents of water rushing through the region. Dozens of bridges and roads have been damaged or destroyed. Read more about the aftermath of the flooding here by the Washington Examiner’s Rena Rowe. RUNDOWNThe Kathmandu Post I watched my village disappear in an instantAssociated Press Invasive green crabs are bad for the environment, so New Englanders are starting to eat more of themNPR Nuclear regulator prepares to abandon a decades-old radiation safety ruleWashington Post Data centers and toxic waste could be a match made in heaven