Fusion Breakthrough Achieved |
US scientists revealed yesterday experiments at Lawrence Livermore National Lab achieved net energy gain in a controlled fusion reaction for the first time ever. The results mean more energy was released than was used to initiate the reaction—a critical step toward the ultimate goal of self-sustaining clean power generation.
A typical fusion reaction squeezes two hydrogen isotopes together to make a single larger helium atom while releasing excess energy (watch 101). In the current study, analysis estimates roughly 2 megajoules of laser light focused on a specialized chamber containing a hydrogen pellet triggered a reaction that produced just over 3 megajoules of energy. The extra energy output is roughly equivalent to a stick of dynamite.
Many researchers have viewed fusion energy as a potentially paradigm-shifting, carbon-free power source. Despite the announcement, scientists say viable fusion power is likely decades away, given the numerous challenges of translating the complex process into a practical, self-sustaining, electricity-producing design. Read about the world\'s biggest effort to address these issues here.
The experiments took place at the lab\'s National Ignition Facility, which houses a massive experimental apparatus capable of focusing nearly 200 lasers onto a single fuel pellet. The lab is designed to produce and study the reactions but not generate electricity from them. Go inside the facility here. |
The consumer price index rose 7.1% compared to the same time last year, according to data from the US Labor Department. The figure is slightly below the expectations of 7.3% and down from a June high of 9.1%, though remains higher than any point since the early 1980s (see data).
The metric is a proxy for purchasing power; higher inflation means consumers can buy fewer goods with each dollar they spend (see 101). Housing costs, which make up roughly one-third of the calculation, were the primary contributor, rising 7.1% year-over-year. Core CPI, which removes volatile food (10.6%) and energy (13.1%) costs, was up 6% year-over-year. Experts predict housing costs may decline in 2023 as US house prices have eased since summer and rent data are collected every six months.
The Fed is expected to continue to raise interest rates, with a predicted increase of 0.50 percentage points expected to be announced today and two 0.25-point hikes in the first half of 2023. |
Sam Bankman-Fried, founder and former CEO of failed cryptocurrency exchange FTX, will face eight criminal counts of fraud and conspiracy, US officials revealed yesterday. He also faces related civil charges brought by US financial regulators for defrauding investors. Prosecutors allege the 30-year-old, arrested in the Bahamas late Monday, knowingly misappropriated customer deposits for years, diverting funds for alternative investments and personal use.
Most notably, Bankman-Fried is accused of secretly using billions of FTX deposits to cover losses at his hedge fund, Alameda Research, ultimately leading to exchange’s implosion (deeper dive here). Once valued at around $32B, FTX collapsed after news of its transfer to Alameda caused a surge in customer withdrawals, which the exchange could not cover, eventually forcing it into bankruptcy. The charges came as current CEO John Ray III testified to Congress, describing a litany of issues uncovered thus far during the bankruptcy process.
Find the charging documents here and here. |
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