Good morning. It's Tuesday, Dec. 23, and we're covering offshore wind suspensions, atmospheric rivers, and much more. First time reading? Join over 4.5 million insatiably curious readers. Sign up here.
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The Interior Department yesterday announced it was suspending leases for five offshore wind farms, citing national security concerns. The projects—in various stages of completion—collectively cost $25B and are expected to be able to power 2.5 million homes.
The farms represent a fraction of all US wind turbines (see map), but 100% of major offshore projects under construction. The five projects are all on the East Coast: two in New York, one in Massachusetts, one spanning Rhode Island and Connecticut, and one in Virginia. That last project—Dominion Energy’s Coastal Virginia Offshore Wind—is the largest of its kind, featuring 176 wind turbines. The administration cited reports finding blade movement, combined with the towers’ reflective nature, can create radar interference, making it more difficult to identify legitimate targets.
The announcement comes weeks after a federal judge struck down an executive order to end the projects. Developers claimed they lost $15M to $50M per week when the projects were stalled earlier this year. |
California Rivers in the Sky |
Flood watches are in effect for most of California and parts of Nevada and Arizona as two atmospheric rivers—corridors of concentrated water vapor—drench the region.
The first atmospheric river, centered over Northern California from Sunday to Monday, caused at least one death and several water rescues. The second is expected to hit Southern and Central California, too, with the heaviest rainfall forecast tonight into Wednesday. Los Angeles, which saw no rain Dec. 1-22, could receive up to four times its 2.48-inch December average this week. Meteorologists also warn the parent storm could intensify into a bomb cyclone, with 50 to 70 mph winds.
Separately, Washington state directed $3.5M toward flood relief and recovery after atmospheric rivers earlier this month killed one person, prompted over 600 water rescues, and hit Christmastown's economy. The average atmospheric river carries as much water as the flow at the mouth of the Mississippi River—and can transport up to 15 times more. |
Japanese authorities have approved restarting the world's largest nuclear plant for the first time since the Fukushima disaster nearly 15 years ago. The decision is part of the country's effort to reduce its reliance on imported fossil fuels.
Lawmakers yesterday passed a bill that allows the Tokyo Electric Power Company to bring one of seven reactors at the Kashiwazaki-Kariwa plant back online as early as next month. The plant was one of 54 nuclear power stations that Japan shut down after a 9.0-magnitude earthquake and subsequent tsunami, with waves reaching over 100 feet, triggered a nuclear meltdown at the Fukushima Daiichi plant (see animation) in 2011. Nearly 20,000 people died from the natural disasters—about 2,000 from the meltdown, which marked the world’s worst nuclear accident since Chernobyl in 1986. Japan has since restarted 14 of 33 operable nuclear reactors.
Roughly 69% of Japan’s electricity is generated from imported fossil fuels, which cost the country around $68B last year. |
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‘Tis The Season For Spending |
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December is here, and that means our credit cards are about to get a workout. But in between all the travel, gift shopping, holiday parties, and countless other costly capers, we’re left with just one burning question… What’s your credit card doing for you?
If you have Apple Card, that answer is easy: A whole lot. Not only do you earn up to 3% Daily Cash back on every purchase when you use your iPhone or Apple Watch, but you pay zero fees while you’re at it – no annual fees, no foreign transaction fees, no hidden fees, no fees. Period. Plus, Apple Card gets you access to a high-yield Savings account earning 3.65% APY when you open one through Apple Card, so your money can make you more money.
Ready to make the most of your holiday spending? Apply for your Apple Card right here.
Terms apply. Savings provided by Goldman Sachs Bank USA. Member FDIC. |
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Sports, Entertainment, & Culture |
> Universal Studios releases first trailer for "The Odyssey," directed by Christopher Nolan and starring Matt Damon as Greek hero Odysseus (More) |
> American singer Barry Manilow is diagnosed with lung cancer, postpones arena tour dates originally scheduled for January (More) | British singer Chris Rea, known for holiday classic "Driving Home for Christmas," dies at age 74 (More) |
> NBA to explore prospective teams and ownership groups for professional men’s basketball league in Europe, with potential franchise values over $1B (More) |
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In partnership with West Capital Lending |
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Which is where West Capital Lending comes in. Their team of lending pros has been helping homeowners and investors unlock cash with ease since 2016. No drawn-out processes, no confusing documentation requirements, just simple, smart, fast lending.
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> Alphabet to acquire data center energy developer Intersect for $4.75B to address AI's high energy demands (More) | Instacart ends program showing users different prices for the same item amid backlash from consumer advocacy groups (More) |
> Researchers find high-fat diets rewire liver cells, making them more likely to become cancerous (More) |
> New FDA-approved drug shown to delay progression of genetic subtype of ALS, stabilizing or improving symptoms in roughly 25% of clinical trial participants (More) |
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> US stock markets close higher (S&P 500 +0.6%, Dow +0.5%, Nasdaq +0.5%); gold and silver prices hit record highs (More) |
> Paramount submits revised bid to acquire Warner Bros. Discovery's studios and HBO Max, including pledge from Larry Ellison—father of Paramount's CEO—to personally fund a portion of the deal (More) |
> America's largest bourbon maker, Jim Beam, to halt production at its flagship distillery in Kentucky for a year, beginning Jan. 1, amid whiskey oversupply (More) |
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> CBS News pulls "60 Minutes" segment on the Trump administration's deportation of Venezuelan migrants to Salvadoran prison after Editor-in-Chief Bari Weiss requires on-the-record statement from the administration before airing the piece (More) |
> Former Vice President Mike Pence's conservative nonprofit poaches more than a dozen staffers from the Heritage Foundation amid infighting in the movement over Israel, allegations of antisemitism (More) |
> Car bomb in Moscow kills Lt. Gen. Fanil Sarvarov, head of the Russian army's operational training directorate (More) |
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> Were Classical Statues Painted Horribly?
Works in Progress | Ralph S. Weir. Reconstructions of Greek statues can come across as garish, with matte, heavily saturated colors. Are reconstruction specialists trolling us, or did Greek tastes differ from modern painting styles? (Read) |
> The Life of a Crash Test Dummy
NPR | Camila Domonoske. A glimpse into the world of crash test dummies, created to understand exactly how car crashes can impact real humans. (Read) |
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The Holidays Came Early For Your Wallet |
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December is rough for our wallets. They get used throughout the holidays and rack up credit card fees... but not this year. This year, your wallet is getting an upgrade: Apple Card.
Apple Card gives you up to 3% Daily Cash back on every purchase, access to a high-yield Savings account earning 3.65% APY when you open an account through Apple Card, and not a single fee in sight. In other words? It gives you Daily Cash back, helps you grow that money in a Savings account, and doesn’t come with surprise charges like foreign transaction fees or annual fees. Ready to give your wallet the gift it deserves? Apply for the Apple Card right here.
Terms apply. Savings provided by Goldman Sachs Bank USA. Member FDIC |
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Please support our sponsors! |
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Historybook: The Church of Jesus Christ of Latter-day Saints founder Joseph Smith born (1805); Businesswoman Madam CJ Walker born (1867); Vincent van Gogh cuts off his ear (1888); Voyager aircraft is first to fly around the world without refueling (1986).
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