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With the ongoing disaster approaching its second week, here’s where things stand.

A week ago, forecasters in Southern California warned residents of Los Angeles that conditions would be dry, windy, and conducive to wildfires. How bad things have gotten, though, has taken everyone by surprise. As of Monday morning, almost 40,000 acres of Los Angeles County have burned in six separate fires, the biggest of which, Palisades and Eaton, have yet to be fully contained. The latest red flag warning, indicating fire weather, won’t expire until Wednesday.
Many have questions about how the second-biggest city in the country is facing such unbelievable devastation (some of these questions, perhaps, being more politically motivated than others). Below, we’ve tried to collect as many answers as possible — including a bit of good news about what lies ahead.
A second Santa Ana wind event is due to set in Monday afternoon. “We’re expecting moderate Santa Ana winds over the next few days, generally in the 20 to 30 [mile per hour] range, gusting to 50, across the mountains and through the canyons,” Eric Drewitz, a meteorologist with the Forest Service, told me on Sunday. Drewitz noted that the winds will be less severe than last week’s, when the fires flared up, but he also anticipates they’ll be “more easterly,” which could blow the fires into new areas. A new red flag warning has been issued through Wednesday, signaling increased fire potential due to low humidity and high winds for several days yet.
If firefighters can prevent new flare-ups and hold back the fires through that wind event, they might be in good shape. By Friday of this week, “it looks like we could have some moderate onshore flow,” Drewitz said, when wet ocean air blows inland, which would help “build back the marine layer” and increase the relative humidity in the region, decreasing the chances of more fires. Information about the Santa Anas at that time is still uncertain — the models have been changing, and the wind is tricky to predict the strength of so far out — but an increase in humidity will at least offer some relief for the battered Ventura and Orange Counties.
The Palisades Fire, the biggest in L.A., ripped through the hilly and affluent area between Santa Monica and Malibu, including the Pacific Palisades neighborhood, the second-most expensive zip code in Los Angeles and home to many celebrities. Structures in Big Rock, a neighborhood in Malibu, have also burned. The fire has also encroached on the I-405 and the Getty Villa, and destroyed at least two homes in Mandeville Canyon, a neighborhood of multimillion-dollar homes. Students at nearby University of California, Los Angeles, were told on Friday to prepare for a possible evacuation.
The Eaton Fire, the second biggest blaze in the area, has killed 16 people in Altadena, a neighborhood near Pasadena, according to the Los Angeles Times, making it one of the deadliest fires in the modern history of California.
The 1,000-acre Kenneth fire is 100% contained but still burning near Calabasas and the gated community of Hidden Hills. The Hurst Fire has burned nearly 800 acres and is 89% contained and is still burning near Sylmar, the northernmost neighborhood in L.A. Though there are no evacuation notices for either the Kenneth or the Hurst fires, residents in the L.A. area should monitor the current conditions as the situation continues to be fluid and develop.
The 43-acre Sunset Fire, which triggered evacuations last week in Hollywood and Hollywood Hills, burned no homes and is 100% contained.
The Lidia Fire, which ignited in a remote area south of Acton, California, on Wednesday afternoon, burned 350 acres of brush and is 100% contained.
It can take years to determine the cause of a fire, and investigations typically don’t begin until after the fire is under control and the area is safe to reenter, Edward Nordskog, a retired fire investigator from the Los Angeles Sheriff’s Department, told Heatmap’s Emily Pontecorvo. He also noted, however, that urban fires are typically easier to pinpoint the cause of than wildland fires due to the availability of witnesses and surveillance footage.
The vast majority of wildfires, 85%, are caused by humans. So far, investigators have ruled out lightning — another common fire-starter — because there were no electrical storms in the area when the fires started. In the case of the Palisades Fire, there were no power lines in the area of the ignition, though investigators are now looking into an electrical transmission tower in Eaton Canyon as the possible cause of the deadly fire in Altadena. There have been rumors that arsonists started the fires, but investigators say that scenario is also pretty unlikely due to the spread of the fires and how remote the ignition areas are.
Officially, 24 people have died, but that tally is likely to rise. California Governor Gavin Newsom said Sunday that he expects “a lot more” deaths will be added to the total in the coming days as search efforts continue.
Incoming President Donald Trump slammed the response to the L.A. fires in a Truth Social post on Sunday morning: “This is one of the worst catastrophes in the history of our Country,” he wrote. “They just can’t put out the fires. What’s wrong with them?”
Though there is much blame going around — not all of it founded in reality — the challenges facing firefighters are immense. Last week, because of strong Santa Ana winds, fire crews could not drop suppressants like water or chemical retardant on the initial blazes. (In strong winds, water and retardant will blow away before they reach the flames on the ground.)
Fighting a fire in an urban or suburban area is also different from fighting one in a remote, wild area. In a true wildfire, crews don’t use much water; firefighters typically contain the blazes by creating breaks — areas cleared of vegetation that starve a fire of fuel and keep it from spreading. In an urban or suburban event, however, firefighters can’t simply hack through a neighborhood, and typically have to use water to fight structure fires. Their priority also shifts from stopping the fire to evacuating and saving people, which means putting out the fire itself has to wait.
What’s more, the L.A. area faced dangerous fire weather going into last week — with wind gusts up to 100 miles per hour and dry air — and the persistence of the Santa Ana winds during firefighting operations through the weekend made it extremely difficult for emergency managers to gain a foothold.
Trump and others have criticized Los Angeles for being unprepared for the fires, given reports that some fire hydrants ran dry or had low pressure during operations in Pacific Palisades. According to the Los Angeles Department of Water and Power, about 20% of hydrants were affected, mostly at higher elevations.
The problem isn’t a lack of preparation, however. It’s that the L.A. wildfires are so large and widespread, the county’s preparations were quickly overwhelmed. “We’re fighting a wildfire with urban water systems, and that is really challenging,” Los Angeles Department of Water and Power CEO Janisse Quiñones said in a news conference last week. When houses burn down, water mains can break open. Civilians also put a strain on the system when they use hoses or sprinkler systems to try to protect their homes.
On Sunday, Judy Chu, the Democratic lawmaker representing Altadena, confirmed that fire officials had told her there was enough water to continue the battle in the days ahead. “I believe that we're in a good place right now,” she told reporters. Newsom, meanwhile, has responded to criticism over the water failure by ordering an investigation into the weak or dry hydrants.
So-called “super soaker” planes have had no problem with water access; they’re scooping directly from the ocean.
Yes. Although aerial support was grounded in the early stages of the wildfires due to severe Santa Ana winds, flights resumed during lulls in the storms last week.
There is a misconception, though, that water and retardant drops “put out” fires; they don’t. Instead, aerial support suppresses a fire so crews can get in close and use traditional methods, like cutting a fire break or spraying water. “All that up in the air, all that’s doing is allowing the firefighters [on the ground] a chance to get in,” Bobbie Scopa, a veteran firefighter and author of the memoir Both Sides of the Fire Line, told me last week.
With winds expected to pick up early this week, aerial firefighting operations may be grounded again. “If you have erratic, unpredictable winds to where you’ve got a gust spread of like 20 to 30 knots,” i.e. 23 to 35 miles per hour, “that becomes dangerous,” Dan Reese, a veteran firefighter and the founder and president of the International Wildfire Consulting Group, told me on Friday.
Because of the direction of the Santa Ana winds, wildfire smoke should mostly blow out to sea. But as winds shift, unhealthy air can blow into populated areas, affecting the health of residents.
Wildfire smoke is unhealthy, period, but urban and suburban smoke like that from the L.A. fires can be particularly detrimental. It’s not just trees and brush immolating in an urban fire, it’s also cars, and batteries, and gas tanks, and plastics, and insulation, and other nasty, chemical-filled things catching fire and sending fumes into the air. PM2.5, the inhalable particulates from wildfire smoke, contributes to thousands of excess deaths annually in the U.S.
You can read Heatmap’s guide to staying safe during extreme smoke events here.
“The bad news is, I’m not seeing any rain chances,” Drewitz, the Forest Service meteorologist, told me on Sunday. Though the marine layer will bring wetter air to the Los Angeles area on Friday, his models showed it’ll be unlikely to form precipitation.
Though some forecasters have signaled potential rain at the end of next week, the general consensus is that the odds for that are low, and that any rain there may be will be too light or short-lived to contribute meaningfully to extinguishing the fires.
The chaparral shrublands around Los Angeles are supposed to burn every 30 to 130 years. “There are high concentrations of terpenes — very flammable oils — in that vegetation; it’s made to burn,” Scopa, the veteran firefighter, told me.
What isn’t normal, though, is the amount of rain Los Angeles got ahead of this past spring — 52.46 inches in the preceding two years, the wettest period in the city’s history since the late 1800s — which was followed by a blisteringly hot summer and a delayed start to this year’s rainy season. Since October, parts of Southern California have received just 10% of their normal rainfall
This “weather whiplash” is caused by a warmer atmosphere, which means that plants will grow explosively due to the influx of rain and then dry out when the drought returns, leaving lots of dry fuels ready and waiting for a spark. “This is really, I would argue, a signature of climate change that is going to be experienced almost everywhere people actually live on Earth,” Daniel Swain, a climate scientist at the University of California, Los Angeles, who authored a new study on the pattern, told The Washington Post.
We know less about how climate change may affect the Santa Anas, though experts have some theories.
At least 12,000 structures have burned so far in the fires, which is already exacerbating the strain on the Los Angeles housing market — one of the country’s tightest even before the fires — as thousands of displaced people look for new places to live. “Dozens and dozens of people are going after the same properties,” one real estate agent told the Los Angeles Times. The city has reminded businesses that price gouging — including raising rental prices more than 10% — during an emergency is against the law.
Los Angeles had a shortage of about 370,000 homes before the fires, and between 2021 and 2023, the county added fewer than 30,000 new units per year. Recovery grants and federal aid can lag, and it often takes more than two years for even the first Housing and Urban Development Disaster Recovery Grants’ expenditures to go out.
My colleague Matthew Zeitlin wrote for Heatmap that the economic impact of the Los Angeles fire is already much higher than that of other fires, such as the 2018 Camp fire, partly because of the value of the Pacific Palisades real estate.
The wildfires may “deal a devastating blow to [California’s] fragile home insurance market,” Heatmap’s Matthew Zeitlin wrote last week. In recent years, home insurers have left California or declined to write new policies, at least partially due to the increased risk of wildfires in the state.
Depending on the extent of the damage from the fires, the coffers of California’s FAIR Plan — which insures homeowners who can’t get insurance otherwise, including many in Pacific Palisades and Altadena — could empty, causing it to seek money from insurers, according to the state’s regulations. As Zeitlin writes, “This would mean that Californians who were able to buy private insurance — because they don’t live in a region of the state that insurers have abandoned — could be on the hook for massive wildfire losses.”
First and foremost, sign up for all relevant emergency alerts. Make sure to turn on the sound on your phone and keep it near you in case of a change in conditions. Pack a “go bag” with essentials and consider filling your gas tank now so that you can evacuate at a moment’s notice if needed. Read our guide on what to do if you get a pre-evacuation or an evacuation notice ahead of time so that you’re not scrambling for information if you get an alert.
The free Watch Duty app has become a go-to resource for people affected by the fires, including friends and family of Angelenos who may themselves be thousands of miles away. The app provides information on fire perimeters, evacuation notices, and power outages. Its employees pull information directly from emergency responders’ radio broadcasts and sometimes beat official sources to disseminating it. If you need an endorsement: Emergency responders rely on the app, too.
There are many scams in the wake of disasters as crooks look to take advantage of desperate people — and those who want to help them. To play it safe, you can use a hub like the one established by GoFundMe, which is actively vetting campaigns related to the L.A. fires. If you’re looking to volunteer your time, make a donation of clothing or food, or if you’re able to foster animals the fire has displaced, you can use this handy database from the Mutual Aid Network L.A. There are also many national organizations, such as the Red Cross, that you can connect with if you want to help.
The City of Los Angeles and the Los Angeles Fire Department have asked that do-gooders not bring donations directly to fire stations or shelters; such actions can interfere with emergency operations. Their website provides more information about how you can help — productively — on their website.
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The former FERC chair explains why Chris Wright is likely to succeed where Rick Perry failed.
Neil Chatterjee thinks it’s going to go better this time.
Eight years ago, Chatterjee was the chairman of the Federal Energy Regulatory Commission, and Trump was the president. When Trump’s then-Secretary of Energy, Rick Perry, asked the commission to ensure that generators able to store fuel on site — which in the U.S. largely means coal and nuclear — get extra payments for doing so, thus keeping struggling power plants in business, it rejected the proposal by a unanimous vote.
“There’s no doubt my 2017 experience — that was politically driven,” Chatterjee told me, though he did concede that Perry was “right to be concerned about retiring generation at the time.” The Perry plan had been heavily influenced by the coal industry, he told me, and the regulatory structure of “compensating plants for having the attribute of on-site fuel … it was just a bit of a stretch.”
Now there’s a new Trump administration, with a new Secretary of Energy and a new FERC — and on Thursday, Energy Secretary Chris Wright asked the commission to do something else. He put forward what’s known as an advance notice of proposed rulemaking, directing FERC to come up with ways to help to make sure the grid can deal with another large-scale transition.
“They’re just apples and oranges,” Chatterjee said of the two requests. “This is a much more elegant, much more thoughtful exercise.”
Wright’s letter lays out the challenge of integrating large loads — i.e. data centers — onto the grid, arguing that they “must be able to connect to the transmission system in a timely, orderly, and non-discriminatory manner.” Doing so, he said, will “require unprecedented and extraordinary quantities of electricity and substantial investment in the Nation’s interstate transmission system.”
The overall thrust of the proposal is to make things easier and faster, including suggesting that interconnection studies for large loads that have their own generation or are flexible could be finished in just 60 days — which, if successful, could take a process that can last for years and get it done in less than a season.
The notice suggests a number of reforms for FERC to consider, including faster interconnection for “large loads that agree to be curtailable and hybrid facilities that agree to be curtailable and dispatchable” — touching on what has been the hottest subject in energy policy this year.
Tyler Norris, a Duke University researcher who has been one of the leading promoters of load flexibility, called Wright’s notice a “BFD” — that is, big effing deal — in a brief email to Heatmap.
Norris elaborated further on X. The proposal “appears to have done the near-impossible — generate overwhelming bipartisan enthusiasm — in what may be the most positive cross-sector response we’ve seen yet to DOE action under Secretary Wright,” he wrote.
Wright’s proposal suggests that both new data centers and new sources of power should be studied together for interconnection. While this sounds like it would be adding complexity, it may actually be simplifying the process. “Such an approach will allow for efficient siting of loads and generating facilities and thereby minimize the need for costly network upgrades,” the proposal says, reflecting the twinned desire to get more data centers on line faster while shielding electricity consumers from higher costs.
Another of Wright’s suggestions, however, might face more opposition. He argues that “load and hybrid facilities should be responsible for 100% of the network upgrades that they are assigned through the interconnection studies.”
This is designed to address the possibility — already being realized in parts of the country — that the network infrastructure required to bring data centers online could lead to higher costs for all electricity customers served by a given utility as it spreads out those costs to its rate base. The risk, however, is that utilities won’t like it. That’s because in most of the country, utilities earn a regulated rate of return on their investment in grid upgrades (by way of customer bill payments, of course), creating an incentive for them to continue to spend.
Those dynamics may be changing. Utilities once enjoyed primacy in Washington on electricity policy, especially among Republicans, but have seen their status slip of late in favor of a new force: big tech companies with big data centers.
“The hyperscalers have the influence to counteract the utilities here,” Chatterjee told me. “And that’s a new dynamic, historically — when it came to FERC, when it came to DOE, when it came to, quite frankly, Congress. People are sensitive to their utilities.”
Wright’s proposal, Chatterjee said, is trying to balance several different considerations the White House faces.
“This is the most vexing issue before the commission right now. And the reality is, it’s not clean politically within FERC, within DOE, even within the White House. There are differences of opinion on how best to thread this needle,” he told me, pointing to divides between those who want to drive AI development as fast as possible and those who are concerned about electricity prices.
By contrast, the Perry proposal to FERC was widely recognized as being primarily about supporting the coal (and to some extent nuclear) industry.
“I really think what DOE has put forward here is kind of an elegant solution that touches on everything,” Chatterjee said. “It’s not preferring particular sources of generation. It’s for flexibility — flexibility is having its moment.”
The proposal has already won some plaudits from the technology industry. In a letter to the White House, OpenAI Chief Global Affairs Officer Christopher Lehane wrote that the company “welcomed the news last week that DOE recommended to FERC that it assert jurisdiction and create standardized rules for large load interconnections.” He also noted that OpenAI’s data centers “are designed to be curtailable — reducing their draw or even returning power during peak demand, helping to protect reliability and avoid higher costs for consumers.”
The DOE gave FERC an April 2026 deadline for final action on the proposed rulemaking, and FERC said Monday night that comments would be due by November 14.
Chatterjee said he expects FERC to eventually issue rules based on the proposal on a unanimous and bipartisan basis.
“I think the initial thought was, Oh, here goes the Trump administration again, leaning on FERC. This is actually a thoughtful exercise that I think most people in the energy space recognize is necessary to be done.”
On global emissions, Bill Gates on Chinese nuclear, and a geothermal breakthrough
Current conditions: Hurricane Melissa made landfall over Jamaica as one of the strongest Category 5 storms on record before barreling north toward Cuba • A cold front will send temperatures plunging as far as 15 degrees below average across the mid-Atlantic and the Northeast • The Colombian Andes are bracing for flooding amid up to 8 inches of rain forecast for Wednesday.

The Trump administration’s all-of-government approach to thwarting construction of offshore wind turbines has included the Department of the Interior de-designating federal waters to turbine development and the Department of Transportation yanking funding, in addition to various steps taken by other agencies. Now the Department of Health and Human Services is taking its swing at the industry. On Tuesday, Bloomberg reported that Secretary of Health and Human Services Robert F. Kennedy, Jr. directed the Centers for Disease Control and Prevention to open an investigation into the potential harms offshore wind farms pose. In late summer, the agency instructed the CDC’s National Institute for Occupational Safety and Health to prepare research about wind farms’ impact on fishing businesses. The effort included Kennedy personally meeting with NIOSH director Josh Howard, in the course of which he gave Howard — a career physician and lawyer who previously oversaw federal efforts on September 11 victims’ health — specific experts to contact, according to the newswire report. The U.S. Surgeon General’s office has also been involved in the initiative.
It’s part of what Heatmap’s Jael Holzman called “Trump’s total war on wind,” an assault that started on President Donald Trump’s first day back in office. Earlier this month, oil major Shell’s top executive in the United States warned that the precedents the administration was setting risked being weaponized against fossil fuel companies once Trump exited power.
In the first real decline ever forecast by the United Nations, global emissions are now expected to fall by 10% below 1990 levels by 2035, according to a report issued Tuesday. But the world remains far off from the 60% reduction goal scientists say is necessary to keep warming below 1.5 degrees Celsius, the target leaders committed to when they signed the Paris Agreement a decade ago. “Humanity is now clearly bending the emissions curve downwards for the first time, although still not nearly fast enough,” Simon Stiell, executive secretary at the UN Framework Convention on Climate Change, told Bloomberg on Tuesday. “We have a serious need for more speed.”
The latest assessment comes as the U.S. is withdrawing from the Paris climate negotiations and other countries are paring back spending on decarbonization ahead of the UN climate talks in Belem, Brazil, next month.
On Tuesday, Bill Gates released a provocative new treatise on climate change in which he laid out what he sees as necessary ahead of November’s climate summit. Before that, on Friday afternoon, the billionaire philanthropist gathered with half a dozen journalists in a conference room in Manhattan to discuss his latest ideas over lunch. Heatmap’s Robinson Meyer, who was in attendance, has a good breakdown of some of what Gates discussed. I also attended the lunch and wanted to highlight another point Gates made: The West is losing the race for new nuclear power. When it comes to fission, China is building more reactors than anyone else, and helped perfect the Westinghouse AP1000 before its successful construction in the U.S. Gates’ own reactor developer, TerraPower, had plans to build its debut plant in China prior to the souring in relations between Washington and Beijing nearly a decade ago. When it comes to fusion, he said, there’s no topping how much funding China has directed toward the technology.
“The amount of money they’re putting into fusion is more than the rest of the world put together, times two,” Gates told us. “There is a substantial amount of Chinese capital going into that, and in fission, they built the most reactors.”
Chemical giant Honeywell has announced a new technology that converts agricultural and forestry waste into ready-to-use renewable fuels that can directly replace the carbon-intensive fuel used by large ships and airplanes. The so-called “Biocrude Upgrading” processing hardware can be provided in modular form and equipped to ships at a moment when global regulators are seeking to slash the roughly 3% of planet-heating emissions that come from cargo vessels. “The maritime industry has a real need for renewable fuels that are immediately available and cost effective,” Ken West, Honeywell’s energy and sustainability solutions president, said in a statement. The news comes nearly two weeks after Trump “torpedoed” — as Heatmap’s Katie Brigham put it — efforts at the International Maritime Organization to slash emissions from regulated ships.
The geothermal startup Eavor said Tuesday that its breakthroughs in drilling had slashed the time it takes to drill its wells underground. The Canadian company said that the results of two years of drilling at its flagship project in Geretsried, Germany, showed its efforts to dig to hotter and deeper locations are working. “Much like wind and solar have come down the cost curve, much like unconventional shale [oil and gas] have come down the cost curve, we now have a technical proof-point that we’ve done that in Europe,” Jeanine Vany, a cofounder and executive vice president of corporate affairs at Eavor, told Canary Media’s Maria Gallucci.
The breakup of the ancient supercontinent 1.5 billion years ago transformed the Earth’s surface environments and laid the groundwork for the emergence of complex life. That’s according to new research by Australian scientists at the University of Sydney and the University of Adelaide. The findings challenge what has long been called the “boring billion,” a time when biological and geological changes effectively stalled. The plate tectonics that reshaped the planet triggered conditions that supported oxygen-rich oceans and fostered the appearance of the first eukaryotes, the ancestors of all complex life. “Our work reveals that deep Earth processes, specifically the breakup of the ancient supercontinent Nuna, set off a chain of events that reduced volcanic carbon dioxide emissions and expanded the shallow marine habitats where early eukaryotes evolved,” Dietmar Müller, a University of Sydney professor and the study’s lead author, said in a press release.
Rob talks New Jersey past, present, and future with Employ America’s Skanda Amarnath.
Electricity prices are the biggest economic issue in the New Jersey governor’s race, which is perhaps next month’s most closely watched election. Mikie Sherrill, the Democratic candidate and frontrunner, has pledged to freeze power prices for state residents after getting elected. Can she do that?
On this week’s episode of Shift Key, Rob talks to Skanda Amarnath, the executive director of Employ America, a center-left think tank that aims to encourage a “full-employment, robust-growth economy.” He’s also a nearly lifelong NJ resident. They chat about how New Jersey got such expensive electricity, whether the nuclear construction boom is real, and what lessons nuclear companies should take from economic history.
Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University. Jesse is off this week.
Subscribe to “Shift Key” and find this episode on Apple Podcasts, Spotify, Amazon, YouTube, or wherever you get your podcasts.
You can also add the show’s RSS feed to your podcast app to follow us directly.
Here is an excerpt from our conversation:
Robinson Meyer: Is there a nuclear bubble? … As people who are interested in long-term decarbonization, number one, this is quite reminiscent of the environment that hit clean energy companies right as Biden was taking office. And number two, is there a nuclear bubble, and what does this mean for how we should think about nuclear going forward? Because at the end of this, I think the only way that any of this helps the climate is if we build a lot more plants.
Skanda Amarnath: We are definitely in a moment when there’s a lot of froth. I don’t want to say everything — it’s always like, it’ll feel unfair and not accurate to go after every single proposition that’s in markets. Like for example, Rick Perry’s Fermi America, they did an IPO and raised a lot of capital pretty successfully. And they have a plan for how they want to build a lot of stuff out — gas, solar, batteries. They want to build four AP1000s, the large, light-water reactors that are seen as the most recent that we’ve built in the United States, and they think they could do them at the same speed that China builds those same reactors.
On the surface of it, there are parts of it that seem interesting and promising. On the other hand, there’s also parts of it that feel very much wrapped up in the speculative frenzy. It gets more exaggerated when you get to like examples like Oklo. They seem to be very politically connected, specifically to Chris Wright. That plus some very small milestone successes in the fuel supply chain are now being sort of magnified into, They’re going be very successful in building out there first of a kind technology. And even in the space of small modular reactors, what they’re offering seems at least substantially more risky than what may be — outside of the space, so even compared to GE’s proposition for a small boiling water reactor, the technology that’s involved with like Oklo is kind of out there.
And one of the things, the lessons of nuclear, if you look through the history, is the more new stuff you’re doing, the harder it is, the more likely it is that you will get heartburn in terms of cost, in terms of schedule, and you never want to do this again. And it’ll involve a lot of bankruptcy, as it did with the case of the Georgia reactors that were built in the last decade. And so this is a sign that there’s clearly a lot of hype and a lot of willingness to take risk, and it’s not really backed up by fundamentals. That can be sometimes overrated in a boom. But that is something that people will look to in a bust and say, what were we doing here? Why was the price of the stock so high?
Mentioned:
How Electricity Got So Expensive
New Jersey’s Next Governor Probably Can’t Do Much About Electricity Prices, by Matt Zeitlin for Heatmap
Previously on Shift Key: The Last Computing-Driven Electricity Demand Boom That Wasn’t
Meta lays off 600 workers
Amazon lays off 14,000 workers
This episode of Shift Key is sponsored by …
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A warmer world is here. Now what? Listen to Shocked, from the University of Chicago’s Institute for Climate and Sustainable Growth, and hear journalist Amy Harder and economist Michael Greenstone share new ways of thinking about climate change and cutting-edge solutions. Find it here.
Music for Shift Key is by Adam Kromelow.