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That’s not an exaggeration, at least by one calculation.

In late March, the board that oversees New York’s Metropolitan Transportation Authority cast a final vote to implement congestion pricing. If the plan survives some last-ditch lawsuits, drivers will soon have to cough up $15 to travel into Lower Manhattan during rush hours. The MTA will get billions every year to make capital improvements, the air will be markedly cleaner, the streets notably less congested, and a proposal that was first pitched by former Mayor Michael Bloomberg 17 years ago will have finally been realized.
“I often wonder what our system would have been like if we passed it back in 2008,” MTA board member Haeda Mihaltses, a veteran of the Bloomberg administration, mused just before she cast her vote in favor.
The price of nearly two decades of procrastination over doing something to alleviate the most densely-populated, traffic-snarled place in North America is, indeed, unfathomably high. There’s the billions of dollars of mass transit infrastructure we missed out on, the billions spent on health care from breathing in dirty air.
And then there’s the most precious resource of all. According to one calculation from transport economist and congestion pricing advocate Charles Komanoff, the plan the MTA adopted last month will save drivers, bus passengers, and subway riders a combined 225,000 hours every single day. Here’s a fun thought experiment: If New York had adopted this plan back in 2008, we could have saved ourselves a combined 1,314,000,000 hours, or 150,000 years.
How could implementing something so obviously necessary and routine — anyone who has paid to camp in a National Park or drive on the New Jersey Turnpike understands the concept — take so long? What does it say about how we govern? And what can we learn from it?
“I think it is fair to say that whatever roadblock congestion pricing could have hit, it hit,” Rachael Fauss, a policy director and MTA researcher for the good government group Reinvent Albany, told me. “It was the worst case scenario of timelines if you were to project out: What are the things that could delay this?”
Some of the delays were deliberate: It’s hard enough for lawmakers to summon the courage to raise taxes on millionaires and billionaires, so charging drivers money for something that used to be “free,” to fund a transit agency that often conjures delayed trains and decades-long boondoggles in the public’s imagination, was always going to require a fortitude that is in chronically short supply in Albany. When then-New York Governor Andrew Cuomo pushed to pass congestion pricing in 2019, he and his fellow lawmakers wrote into the actual bill that the tolling scheme couldn’t be announced for a year and a half — until after the 2020 election. The same politicians who were supposedly brave enough to vote congestion pricing into law didn’t want anything to do with putting that law into practice.
Then there were the bureaucratic delays. The COVID pandemic, of course, redirected much of the government and forced the MTA into survival mode as subway ridership dropped 90%; suddenly the agency’s most important work was to coordinate lifesaving bailouts from the federal and state governments. Then the Trump administration slow-walked the answer to a key question: Because the congestion pricing plan involved placing tolls on roads built with federal funding, the state needed a sign-off from the federal Department of Transportation. But was congestion pricing the kind of massive infrastructure project that, under the National Environmental Policy Act of 1969, required an exhaustive Environmental Impact Statement? Could it pass NEPA review with a less thorough Environmental Assessment? Or, given that nothing was actually being built up or torn down, could it be exempt from these reviews altogether?
Two years after the congestion pricing law passed, and months after the plan was supposed to go into effect in early 2021, the newly installed Biden administration finally asked for the middle option, an Environmental Assessment, which the MTA initially said could be done in a matter of months. In actuality, that timeline stretched to 16 months and produced a 4,000-page behemoth that some experts noted was more comprehensive than the average EIS.
Seemingly nothing escaped the MTA’s scrutiny — it even looked at how congestion pricing would affect traffic in the Philadelphia suburbs (not all that much). The results were not exactly shocking: Tolling vehicles entering Lower Manhattan below 60th Street would result in up to 20% fewer vehicles in the Central Business District, improving air quality while also generating $1 billion in revenue for public transit, which could then be used to secure up to $15 billion in bonds. After more than 50 public meetings and 25,000 written comments (60% in favor of the plan), the Biden administration produced a “finding of no significant impact,” meaning that congestion pricing wouldn’t negatively affect the economy, the environment, or the roads.
There was at least one notable benefit that came from doing such a comprehensive, time-intensive review: The MTA found that congestion pricing could cause an increase in truck traffic to the South Bronx for drivers looking to toll shop, which in turn prompted the agency to allocate $200 million to alleviate pollution in some of New York City’s poorest neighborhoods, which have shamefully high asthma rates that mostly affect Black and Latine New Yorkers. “Is it congestion pricing’s job to remedy those problems? Maybe not,” Fauss, of Reinvent Albany, said. “But is it a really important way to correct some past wrongs? Yeah, absolutely.”
The MTA’s thoroughness may help protect it from the bad faith lawsuits that have been filed to try and shut down the license plate readers before they go live on June 15. But we’re in the midst of a climate crisis. Why should a 54-year-old law designed to prevent overeager developers from doing things like demolishing neighborhoods to build highways discourage cities and states from enacting dynamic, flexible solutions to cut pollution created by those highways — and fund public transit at the same time? And why should a review of a plan that requires no concrete, no demolition — no actual infrastructure — take three years?
The biggest hurdle congestion pricing had to overcome might have been psychological. Let’s call it "car brain": Even though 85% of commuters who travel into the Central Business District take mass transit, for years, lawmakers and congestion pricing opponents have argued (and in the case of the current New York City Mayor Eric Adams, still argue) that charging people to drive into Lower Manhattan was a kind of attack on the middle class. In a city where valuable street real estate has been converted into free parking, congestion pricing was portrayed as profaning the sacred rights of "regular" New Yorkers — never mind the fact that just 2% of New York’s working poor will end up paying the tolls. Driving your car wherever you please, it turns out, is quite expensive.
“Elected officials are facing the world from the front seat of a car, whether they’re driving or being driven,” Danny Pearlstein, the policy and communications director at Riders Alliance, one of the most forceful proponents of congestion pricing, told me. Pearlstein added that “bureaucrats who drive to work” probably contributed to the Biden administration’s slow-walking of the approval process, or so he suspects. “They were very cautious about doing something that alters not just, you know, air patterns, or patterns of inequity, but actual commutes,” Pearlstein said.
As a reporter who has covered congestion pricing for nearly a decade, I have learned never to underestimate the power of “car brain” on public policy. As a New Yorker who lives steps from the entrance of the Williamsburg Bridge on the Lower East Side, who watches mothers push strollers through oceans of hot, heavy steel boxes belching poisonous gasses driven by people on a hair trigger, and who has seen our leaders pretend that this is New York, that we are too exceptional to change, I cannot help but go about my day, doing my best to tune out the incessant honking, feeling like the dog engulfed in flames: “This is fine.”
That it took transportation advocates, regional planners, and forward-looking politicians nearly 20 years to enact congestion pricing in New York City — the U.S. municipality perhaps most amenable to it because of its housing density and excellent mass transit system — reveals the daunting task of weaning Americans off the automobile. More than three-quarters of us drive our own personal cars to our jobs.
“The only thing that’s going to change the fact that the overwhelming majority of Americans drive to work is not permitting reforms to programs like congestion pricing. It’s permitting reforms to allow dense housing development in metropolitan areas across the country,” Pearlstein said.
“It’s a little bit like a Marxian analysis,” he mused. The crisis must come to a head in order to overthrow the status quo. “In order to adopt congestion pricing, you first have to exacerbate congestion significantly by condensing your built environment.”
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A trio of powerful climate hawks are throwing their weight against the SPEED Act.
Key Senate Democrats are opposing a GOP-led permitting deal to overhaul federal environmental reviews without assurances that clean energy projects will be able to reap the benefits. Winning these lawmakers’ support will require major concessions to build new transmission infrastructure and greater permitting assistance for renewable energy projects.
In an exclusive joint statement provided Tuesday to Heatmap News, Senate Energy and Natural Resources ranking member Martin Heinrich, Environment and Public Works ranking member Sheldon Whitehouse, and Hawaii senator Brian Schatz came out against passing the SPEED Act, a bill that would change the National Environmental Policy Act, citing concerns about how it would apply to renewable energy and transmission development priorities.
“We are committed to streamlining the permitting process — but only if it ensures we can build out transmission and cheap, clean energy. While the SPEED Act does not meet that standard, we will continue working to pass comprehensive permitting reform that takes real steps to bring down electricity costs,” the statement read.
As I wrote weeks ago, there’s very little chance the SPEED Act could become law without addressing Senate climate hawks’ longstanding policy preferences. Although the SPEED Act was voted out of committee in the House two weeks ago with support from a handful of Democratic lawmakers, it has yet to win support from even moderate energy wonks in that legislative body, including Representative Scott Peters, one of the Democratic House negotiators in bipartisan permitting talks. Peters told me he would need to see more assurances dealing with the renewables permitting freeze, for example, in order for him to support the bill.
Observers had initially expected a full House vote on the SPEED Act as soon as this week, but an additional hurdle arose in recent days in the form of opposition from House conservative Republicans, led by Representative Chip Roy. The congressman from Texas had requested additional federal actions targeting renewables projects in exchange for passage of the One Big Beautiful Bill Act, which effectively repealed the Inflation Reduction Act. What followed was a set of directives from the Interior Department that all but halted federal solar and wind permitting. Roy’s frustration with the SPEED Act concerns a relatively milquetoast nod to renewables permitting problems that would block presidents from rescinding already issued permits. This upset appears to have delayed a vote on the bill in the House.
There’s an eerie familiarity to this moment: Almost exactly one year ago, the last major attempt at a permitting deal, authored by Senators Joe Manchin and John Barrasso, died when then-Majority Leader Chuck Schumer declined to bring it up for a vote in the face of opposition from the House. Unlike the SPEED Act, that bill offered changes to transmission siting policy that even conservative estimates said would’ve hastened the pace of national decarbonization.
Having Schatz, Heinrich, and Whitehouse — the three most powerful climate hawks in Congress — throw their weight against the SPEED Act casts serious doubt on the prospects for that legislation becoming the permitting deal this Congress. It also exposes an intra-energy world conflict, as it appears to position these lawmakers in opposition to American Clean Power, an energy trade group that represents a swath of diversified energy companies and utilities, as well as solar, wind, and battery storage developers.
Last week, ACP joined with the American Petroleum Institute and gas pipeline advocacy organizations to urge Congress to pass the SPEED Act. In a letter to House Speaker Mike Johnson and Minority Leader Hakeem Jeffries, ACP and the fossil fuel industry trade groups said that the legislation “directly addresses” the challenges facing their interests and “represents meaningful bipartisan progress toward a more stable and dependable permitting framework.” The only reference to potential additions came in a single, vague line: “While the SPEED Act makes important progress, there are additional ways Congress can facilitate the development of reliable and affordable energy infrastructure as part of a broader permitting package.”
This letter was taken by some backers of the renewable energy industry to be an endorsement without concessions. It was also a surprise because just days earlier, American Clean Power responded to the bill’s passage with a vaguely supportive statement that declared “additional efforts” were needed for “transmission infrastructure,” without which “energy prices will spike and system reliability will be threatened.” (It’s worth noting that the committee behind the SPEED Act, House Natural Resources, has no authority over transmission siting. No other proposal has yet emerged from Republicans in that chamber for Republicans to address the issue, either.)
One of the renewables backers taken aback was Schatz, who took to X to sound off against the organization. “Congratulations to ‘American Clean Power’ for cutting a deal with the American Petroleum Institute, but to enact a law both the house and the Senate have to agree, and Senators are finding out about this for the first time,” Schatz wrote in a post, which Whitehouse retweeted from one of his official X accounts.
In a subsequent post, Schatz said: “I am not finding out about the bill’s existence for the first time, I am tracking it all very closely. I am finding out that ACP endorsed it as is without anything on transmission, for the first time.”
By contrast, the statement from the three senators aligns them with the Solar Energy Industries Association, which sent a letter from more than 140 solar companies to top congressional leaders requesting direct action to fix a bureaucratic freeze on permit-related activity that has already helped kill large projects, including Esmeralda 7, which was the largest solar mega-farm in the United States.
In its message to Congress, the trade association made plain that while the SPEED Act was a welcome form of permitting changes, it was nowhere close to dealing with Trumpian chicanery on the group’s priority list.
We’ll have more on this unfolding drama in the days to come.
One longtime analyst has an idea to keep prices predictable for U.S. businesses.
What if we treated lithium like oil? A commodity so valuable to the functioning of the American economy that the U.S. government has to step in not only to make it available, but also to make sure its price stays in a “sweet spot” for production and consumption?
That was what industry stalwart Howard Klein, founder and chief executive of the advisory firm RK Equities, had in mind when he came up with his idea for a strategic lithium reserve, modeled on the existing Strategic Petroleum Reserve.
Klein published a 10-page white paper on the idea Monday, outlining an expansive way to leverage private companies and capital markets to develop a non-Chinese lithium industry without the risk and concentrated expense of selecting specific projects and companies.
The lithium challenge, Klein and other industry analysts and executives have long said, is that China’s whip hand over the industry allows it to manipulate prices up and down in order to throttle non-Chinese production. When investment in lithium ramps up outside of China, Chinese production ramps up too, choking off future investment by crashing prices.
Recognizing the dangers stemming from dysfunction in the global lithium market constitutes a rare area of agreement between both parties in Washington and across the Biden and Trump administrations. Last year, a Biden State Department official told reporters that China “engage[s] in predatory pricing” and will “lower the price until competition disappears.”
A bipartisan investigation released last month by the House of Representatives’ Select Committee on Strategic Competition between the United States and the Chinese Communist Party found that “the PRC engaged in a whole‐of‐government effort to dominate global lithium production,” and that “starting in 2021, the PRC government engaged in a coordinated effort to artificially depress global lithium prices that had the effect of preventing the emergence of an America‐focused supply chain.”
Klein thinks he’s figured out a way to deal with this problem
“They manipulated and they crushed prices through oversupply to prevent us from having our own supply chains,” he told me.
It’s not just that China can keep prices low through overproduction, it’s also that the country’s enormous market power can make prices volatile, Klein said, which scares off private sector investment in mining and processing. “You have two years, up two years down, two years up, two years down,” he told me. “That’s the problem we’re trying to solve.
His proposal is to establish “a large, rules-based buffer of lithium carbonate — purchased when prices are depressed due to Chinese oversupply, and released during price spikes, shortages, or export restrictions.”
This reserve, he said, would be more than just a stockpile from which lithium could be released as needed. It would also help to shape the market for lithium, keeping prices roughly in the range of $20,000 per ton (when prices fall below that, the reserve would buy) and $40,000 to $50,000 per ton, when the reserve would sell. The idea is to keep the price of lithium carbonate — which can be processed as a material for batteries with a wide range of defense (e.g. drones) and transportation (e.g. electric vehicles) applications — within a range that’s reasonable for investors and businesses to plan around.
“Lithium has swung from like $6,000 [per ton] to $80,000, back down to $9,000, and now it’s at $11,000 or $12,000,” Klein told me. “But $11,000 or $12,000 is not a high enough price for a company to build a plan that’s going to take three to five years. They need $20,000 to $25,000 now as a minimum for them to make a $2 billion dollar investment.” When prices for lithium get up to “$50,000, $60,000, or $70,000, then it becomes a problem because battery makers can’t make money.”
Both the Biden and Trump administrations have taken more active steps to secure a U.S. or allied supply chain for valuable inputs, including rare earth metals. But Klein’s proposed reserve looks to balance government intervention with a diverse, private-sector led industry.
The reserve would be more broad-based than price floor schemes, where a major buyer like the Defense Department guarantees a minimum price for the output from a mine or refining facility. This is what the federal government did in its deal with MP Materials, the rare earths miner and refiner, which secured a multifaceted deal with the federal government earlier this year.
Klein estimates that the cost in the first year of the strategic lithium reserve could be a few billion dollars — on the scale of the nearly $2.3 billion loan provided by the Department of Energy for the Thacker Pass mine in Nevada, which also saw the federal government take an equity stake in the miner, Lithium Americas.
Ideally, Klein told me, “there’s a competition of projects that are being presented to prospective funders of those projects, and I want private market actors to decide, should we build more Thacker Passes or should we do the Smackover?” referring to a geologic formation centered in Arkansas with potentially millions of tons of lithium reserves.
Klein told me that he’s trying to circulate the proposal among industry and policy officials. His hoped is that as the government attempts to come up with a solution to Chinese dominance of the lithium industry, “people are talking about this idea and they’re saying, Oh, that’s actually a pretty good idea.”
Current conditions: After a two-inch dusting over the weekend, Virginia is bracing for up to 8 inches of snow • The Bulahdelah bushfire in New South Wales that killed a firefighter on Sunday is flaring up again • The death toll from South and Southeast Asia’s recent floods has crossed 1,750.

President Donald Trump’s Day One executive order directing agencies to stop approving permitting for wind energy projects is illegal, a federal judge ruled Monday evening. In a 47-page ruling against the president in the U.S. District Court for the District of Massachusetts, Judge Patti B. Saris found that the states led by New York who sued the White House had “produced ample evidence demonstrating that they face ongoing or imminent injuries due to the Wind Order,” including project delays that “reduce or defer tax revenue and returns on the State Plaintiffs’ investments in wind energy developments.” The judge vacated the order entirely.
Trump’s “total war on wind” may have shocked the industry with its fury, but the ruling is a sign that momentum may be shifting. Wind developers have gathered unusual allies. As I wrote here in October, big oil companies balked at Trump’s treatment of the wind industry, warning the precedents Republican leaders set would be used by Democrats against fossil fuels in the future. Just last week, as I reported here, the National Petroleum Council advised the Department of Energy to back a national permitting reform proposal that would strip the White House of the power to rescind already-granted licenses.
Back in October, I told you about how the head of the world’s biggest metal trading house warned that the West was getting the critical mineral problem wrong, focusing too much on mining and not enough on refining. Now the Energy Department is making $134 million available to projects that demonstrate commercially viable ways of recovering and refining rare earths from mining waste, old electronics, and other discarded materials, Utility Dive reported. “We have these resources here at home, but years of complacency ceded America’s mining and industrial base to other nations,” Secretary of Energy Chris Wright said in a statement.
If you read yesterday’s newsletter, you may recall that the move comes as the Trump administration signals its plans to take more equity stakes in mining companies, following on the quasi-nationalization spree started over the summer when the U.S. military became the largest shareholder in MP Materials, the country’s only active rare earths miner, in a move Heatmap's Matthew Zeitlin noted made Biden-era officials jealous.
NextEra Energy is planning to develop data centers across the U.S. for Google-owner Alphabet as the utility giant pivots from its status as the nation’s biggest renewable power developer to the natural gas preferred by the Trump administration. The Florida-based company already had a deal to provide 2.5 gigawatts of clean energy capacity to Facebook-owner Meta Platforms, and also plans gas plants for oil giant Exxon Mobil Corp. and gas producer Comstock Resources. Still, NextEra’s stock dropped by more than 3% as investors questioned whether the company’s skills with solar and wind can be translated to gas. “They’ve been top-notch, best-in-class renewable developers,” Morningstar analyst Andy Bischof told Bloomberg. “Now investors have to get their head around whether that can translate to best-in-class gas developer.”
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In October, Google backed construction of the first U.S. commercial installation of a gas plant built from the ground up with carbon capture. The project, which Matthew wrote about here, had the trappings to work where other experiments in carbon capture failed. The location selected for the plant already had an ethanol facility with carbon capture, and access to wells to store the sequestered gas. Now the U.S. could have another plant. In a press release Monday, the industrial giant Babcock and Wilcox announced a deal with an unnamed company to supply carbon capture equipment to an existing U.S. power station. More details are due out in March 2026.
Executives from at least 14 fusion energy startups met with the Energy Department on Monday as the agency looks to spur construction of what could be the world’s first power plants to harness the reaction that powers the sun. The Trump administration has made fusion a priority, issuing a roadmap for commercialization and devoting a new office to the energy source, as I wrote in a breakdown of the agency’s internal reorganization last month. It is, as Heatmap’s Katie Brigham has written, “finally, possibly, almost time for fusion” as billions of dollars flow into startups promising to make the so-called energy source of tomorrow a reality in the near future. “It is now time to make an investment in resources to match the nation’s ambition,” the Fusion Industry Association, the trade group representing the nascent industry, wrote in a press release. “China and other strategic competitors are mobilizing billions to develop the technology and capture the fusion future. The United States has invested in fusion R&D for decades; now is the time to complete the final step to commercialize the technology.” Indeed, as I wrote last month, China has forged an alliance with roughly a dozen countries to work together on fusion, and it’s spending orders of magnitude more cash on the energy source than the U.S.
Founded by a former Google worker, the startup Quilt set out to design chic-looking heat pumps sexy enough to serve as decor. Investors like the pitch. The company closed a $20 million Series B round on Monday, bringing its total fundraising to $64 million. “Our growth demonstrates that when you solve for comfort, design, and efficiency simultaneously, adoption accelerates,” Paul Lambert, chief executive and co-founder of Quilt, said in a statement. “This funding enables us to bring that experience to millions more North American homes.”