News bites: Al Gore cheers Australia on climate, oil rises ahead of Fed minutes, and more

The Sydney Morning Herald reports that Al Gore is praising Australia’s climate change policy.

The country has “inspired the world” by imposing a fee on carbon emissions, the former vice president said.

The Associated Press reports that oil prices rose Tuesday ahead of the release of the Federal Reserve’s July meeting minutes, noting the records will “give traders clues as to the intentions of the U.S. central bank’s policymakers.”

The Wall Street Journal reports that gas-guzzling Formula One racing cars could make for a surprising source of fuel-saving tech.

“The engines of these speed machines contain rotating mechanical devices called flywheels that could make everyday cars more powerful and efficient. The technology is among several methods vehicle makers are experimenting with to make better use of kinetic energy otherwise wasted when the car brakes,” the paper reports.

The Houston Chronicle has the latest on Shell’s effort to begin drilling off Alaska’s Arctic coast this summer.

The AP has the latest on U.S.-Chinese green energy trade battles.