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A conversation with the author of The Cactus Hunters: Desire and Extinction in the Illicit Succulent Trade

It was questionable if we needed a second season of Tiger King — or, let’s be honest, a first season. Regardless, if Netflix ever decides it’s interested in a story that features surprisingly charming criminals, IWT violations, and yes, even possibly murder (but without the tabloid tone and mullets), producers might look in the future to Jared D. Margulies’ delightful debut, The Cactus Hunters: Desire and Extinction in the Illicit Succulent Trade.
Wait, illicit succulent trade? you might be wondering. Oh yes.
From the cliffs of California and the deserts of Brazil to the markets of Seoul and the private greenhouses of Czechia, Margulies follows the extraction and relocation of plants so rare that they might only exist in one valley or mountainside in the world. Weaving in ample philosophy and research about what drives these sorts of obsessions — as well as his personal reflections as he, in turn, is captivated by the lovable, spiky plants — The Cactus Hunters is just the right balance of edgy and academic.
Last week, I caught up with Margulies about the process of researching the book, being mistaken for an undercover cop by his subjects, and the lie that is “the green thumb,” among other topics. Our conversation has been edited and condensed for clarity.
You open The Cactus Hunters with a story about how you were going to study the illegal trade of tiger bones when you came across a story about saguaro cactus rustling that piqued your interest and sent you on this journey. What most stands out to you as the differences between the illegal trade of animals and animal products and the world of illegal cactus trading?
To clarify, I never actually got around to studying the illegal trade in tiger bones. I had encountered it a little bit in my past research on human-wildlife conflicts.
But there are a lot of important differences: One of the things that made the illegal plant trade so interesting to study, compared to illegal trade in animals, is that it receives a lot less attention, so there was just a lot more to learn that people hadn’t already researched. But also, the way that this material and these plants can move around the world — there are so many more options available because of the nature of plants. So if what you’re after is the genetics of the plant, to be able to grow them somewhere else in the world, there’s not just the one plant but there’s the cacti propagate, for instance. Pups. Their seeds. You can make cuttings of plants. None of these things are really available to people interested in illegal trade and animals. That affects supply chains and how these things can move around the world.
Also, because of the lack of attention to illegal plant trade compared to animal trade, the subject is a lot less criminalized. I would argue that my access to informants and research participants was a lot better because it did happen that, every now and then, people thought I was a cop. Or maybe, like, an undercover detective. But usually within pretty short order, they realized that wasn’t the case and I was generally interested in trying to understand their perspectives. I think that it would be a lot harder to develop trust within certain trades that are a lot more heavily criminalized.
Over the course of the book, you encounter the Indiana Jones of plants and the Robin Hood of cacti, among others. Can you talk a little about why these enthusiasts, who clearly care deeply about conservation, sometimes break the law by smuggling seeds or entire cacti out of the places where they naturally grow?
One of the fascinating things that really gripped me was this seeming contradiction, where you have people who are made out as conservation villains by certain actors seeing themselves as unsung conservation heroes. The reason for that is, for a lot of these collectors, they saw their community as really passionate people who wanted to get access to the plants that become objects of their desires. By and large, the people who want these plants aren’t trying to do harm to the species in the world, and they care a lot about them. But they also recognize that in their desire is something fairly insatiable and that people are going to go to lengths to get the plant that they have to go to.
For a lot of these collectors, they might see engaging in a kind of illegal activity as still a socially acceptable behavior, if it meant it got material out into the world in a way that people might want it. And the goal there, the long-term goal, is to try to reduce demand on wild harvesting of plants and wild populations. If you get a little bit of material out into the communities that delight in these plants, then you can start grafting them, propagating them, growing them from seed, and, in theory, get that material out into the world.
I wanted to take that perspective seriously. It’s a hard thing to study empirically and so it was important for me to try to be open to a really diverse set of opinions about the right way to do conservation.
You leave most of the sources in the book, including those working within the law, anonymous. Why did you make that decision?
The really short answer is, I was part of a larger research project called BIOSEC, which was run by Professor Rosaleen Duffy at the University of Sheffield in the Department of Politics and International Relations, and we were using a fairly symmetrical ethics approval process, or what in the U.S. we would call an institutional review board approval. Because a number of us were studying illicit economies, in order to ensure research-subject protection and anonymity and security, we were required to make all of our sources anonymous.
But this caused some issues because, on the one hand, it meant that everyone in the book is anonymous, even if they’re people who are law enforcement officials or botanists who would have probably really enjoyed having their names in the book. I regret that.
Most interesting, though, were the number of collectors who were mad at me because they’re also anonymous. One of the reasons for that was they saw anonymity as being suggestive of wrongdoing and for a lot of these people, they don’t feel like what they’re doing is wrong, necessarily, even if it’s against the law. They wanted their story told. I think one of the reasons I had good access to the kinds of interlocutors I had was because they felt like I was providing a space for them to get their version of the story out into the world.
You were asked to be an expert witness in a case against a South Korean smuggler who took thousands of plants from the California coast. How do you navigate moments like this, when your position as an illicit trade researcher is perhaps in tension with your own ethical code?
This was a really difficult decision for me, and I write about this. I went back and forth about whether or not to serve as an expert witness, which in this case just required writing a statement. I never had to go to court or, you know, be on a witness stand — thank goodness. But I go back and forth about if I would do it again.
I think that in the end, I chose to do it because I realized that my testimony would only serve to probably reduce the sentence that this person was facing. And I don’t say that because I think that what they were doing was okay. It was really bad and really harmful to this species of plant. I just don’t think that criminalization and incarceration actually do rehabilitative work or serve much function. It costs us a lot of money as taxpayers and causes harm.
It was complicated; I guess that’s how I would leave it. I debated whether or not to include [the story] in the book but I felt like, in the end, it would be wrong not to include it. I think that if people eventually found out I had served in that capacity, they might felt like I was trying to not disclose something. But yeah, I have some ambiguous feelings about it. In the end, what I was asked to actually do was very limited: I was just asked to put a value on these plants. But as I wrote in my letter to the judge, that value in monetary terms is such an arbitrary thing. The price of those plants has declined precipitously since I wrote that, and it had already gone down a lot since the person who sold them stole them. How interesting, though, that the court of law — at least in the United States — in order to assess the damage done to the state, it had to be valued in monetary terms.
I really liked the inclusion of the story. It’s interesting for a researcher of illicit and illegal trade to all of a sudden be dragged into the concrete legal system, and have it, you know, ask something of you.
Sometimes academics are hard on ourselves in that we think we put in all this work and do all this writing and no one actually reads it. And that’s not true. People do read your work when you publish it and you should think about who those people might be. They might be district attorneys for the state of California. People will use your work, and you should think from the outset about what the social implications of that might be. It was a big lesson for me.
At the end of the book, you write that your experiences in the cactus and succulent community have left you with hope that meaningful change is possible “not through the repressions of desire but through its celebration.” After spending so much time among people that some might call poachers, what makes you optimistic?
We have so many examples from other illicit economies where prohibition doesn’t work. I am concerned by a tendency to move in that direction. Given that we’re talking about plants — you know, as far as we know, this conversation could be different in 50 years — but we’re not having to really think about the welfare issues of, say, illegal trade in animals. There are pragmatic solutions to these problems. This material could get out into the world so that people who want these plants can get it in a way that doesn’t harm wild-growing species.
There’s still a ways to go in working through regulatory conventions to support those efforts. And importantly, in doing so, supporting the people who should have the most support, which I would argue are the communities in places in the world that have lived with these plants the longest.
I see hopeful promise in this, and I saw a whole lot of love. I really did. I saw a lot of love between people and plants, and what that can do for people in moving into developing more careful relations with plants and other species. I don’t have a large collection of cacti and succulents, but I do have some, and I have like a cactus right now that’s in flower. Do you want to see it?
Yes!
This is where I think it’s fun, to think about what plants can teach us—
Oh, it’s gorgeous!
This is a Mammillaria laui. Named for Alfred Lau, who I write about in one of the chapters of the book — a German who lived in Mexico, who has a lot of different species named after him. This is Mammillaria laui, subspecies subducta. It’s got this gorgeous crown of pink flowers.
I love having these plants. Specifically, I’ve started a small collection of plants that are associated with particular people that I wrote about, or that I thought about. Bringing some of that social history to our plants, I think, is a really nice thing that people can do. Learn about where our plants come from and the histories of how they got to where we are.
That’s kind of what set me off on this whole journey, anyway. I think there’s a lot of opportunity for thinking thoughtfully about the place of these plants in the world and how they travel and maybe, hopefully, that can help move us towards a more ethical kind of relation.
Are you worried now that once you collect all of the plants that are connected to your book, you’ll throw your whole collection out?
I don’t think I have a strong collector tendency, per se. I have been accused of being a low-key hoarder before. I’m excited to think about how I’m going to slowly develop a collection over time. Yeah, but your reference — the worst thing that can happen to a collector is completing a collection. Freud wrote about this in the context of completing his collection of statues and dying days later. This one collector who I went to see, I thought I was going to see a giant greenhouse of cacti, but I found a bunch of Mexican chili plants. Because he’d just tossed [the cacti collection] off, he was done with it. I don’t see myself going down that road but one never knows.
For someone reading this interview who might be interested in collecting, where would you say to start?
We need to get over this idea that cacti and succulent plants are great house plants because they don’t require any care. It’s not true. Everyone I know who’s had a succulent has killed it very quickly.
I killed mine.
Yeah, if you just throw a succulent on, like, a north-facing windowsill, it’s not going to do well, especially if you ignore it.
Also, get over the idea that there are natural people in the world with a green thumb — I think that is also nonsense. We just need to spend time learning about what these plants need. One of the ways you can do that is by paying attention to them.
In terms of obtaining material — you know, so much plant material can also just be found for free, gifted from friends or colleagues or the community. A lot of collector clubs, like, say, the Cactus and Succulent Society of America here in the U.S., I believe may even send you free seeds of cacti, and stuff like that.
The thing that I want to start doing is trying to grow cacti from seed. They’re slow-growing plants but I think it’d be really fun to actually watch that process unfold. And it’s quite easy to obtain seeds for a lot of these plants. Just, you know, be careful where you’re buying stuff from. Reputable nurseries are a good source. But be wary of buying from unknown people on the internet. That might be where people start to get into trouble.
Is there anything I haven’t asked you about that you’d like to let me know about your book or your experience writing it before I let you go?
I’m not too prescriptive at the end of the book about what I think the answer is. Some people may find that frustrating, like, “Oh, but you didn’t tell us like what should we do” or “What’s the right response?” One of the reasons for that was I just wanted to let people develop some of their own thoughts about this. But also it’s because the work isn’t done.
I’m developing some work right now dealing with illegal succulent trade in South Africa with some colleagues, both in South Korea but also in South Africa. I’m doing a new project on illicit Venus flytrap harvesting and the carnivorous plant trade. I’m trying to continue the process of thinking and learning with plants. But the work continues.
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The enhanced geothermal darling is spending big on capex, but its shares will be structured more like a software company’s.
Fervo, the enhanced geothermal company that uses hydraulic fracturing techniques to drill thousands of feet into the Earth to find pockets of heat to tap for geothermal power, is going public.
The Houston-based company was founded in 2017 and has been a longtime favorite of investors, government officials, and the media (not to mention Heatmap’s hand-selected group of climate tech insiders) for its promise of producing 24/7 clean power using tools, techniques, and personnel borrowed from the oil and gas industry.
After much speculation as to when it would go public, Fervo filed the registration document for its initial public offering on Friday evening. Here’s what we were able to glean about the company, its business, and the geothermal industry from the filing.
The main theme of the document, known as an S-1, is the immense potential enhanced geothermal — and, thus, Fervo — has.
The company says that its Cape Station site in Utah, where it’s currently developing its flagship power plants, had “4.3 gigawatts of capacity potential” alone. That’s more than the 3.8 gigawatts of conventional geothermal capacity currently on the grid. Enhanced geothermal technology, otherwise known as EGS, “has the potential to make geothermal generation as ubiquitous as solar generation is in the U.S. today,” the company projects. (There’s about 280 gigawatts of installed solar capacity currently in the U.S., according to the Solar Energy Industries Association) “A broader subset of our reviewed leases represents over 40 gigawatts” of capacity, the document goes on.
Like all investor pitches, the S-1 features some eye-popping “total addressable market” figures. Citing analysis by the consulting firm Rystad, the document says that if there’s a sufficient shortfall in capacity due to retiring power plants (98 gigawatts by 2035), the annual market for enhanced geothermal would be approximately $70 billion by 2035, and that this would represent some $2.1 trillion in revenue potential over 30 years.
The company is already producing 3 megawatts at its Nevada Project Red site for the Nevada grid as part of a deal with Google. It also expects to begin generating power from the Cape Station site “by late 2026,” according to the filing, and get up to 100 megawatts “by early 2027.” In total, Fervo has “658 megawatts of binding power purchase agreements,” which it says represents ”approximately $7.2 billion in potential revenue backlog.”
Beyond that, Fervo says it has 2.6 gigawatts “in advanced development,” and “over 38 gigawatts” in “early-stage development,” where it’s still doing feasibility studies to “validate and confirm the path toward commercial development.”
Fervo says that the energy produced from its Cape Station facility will come in at around $7,000 per kilowatt. That’s already cheaper than “traditional and small modular nuclear power,” which the Department of Energy has estimated costs $6,000 to $10,000 per kilowatt, the filing says. Fervo is aiming to get the total project costs down to $3,000 per kilowatt, at which point it says it would outcompete natural gas without any of the price volatility due to fuel costs going up and down.
But Fervo’s upfront spending is still immense. Fervo says that it expects some $1.2 billion in capital expenditure this year, of which only $125 million is going toward the first phase of its Cape Station project, which it has said would deliver 100 megawatts of power. (Meanwhile, the $940 million it expects to spend on the second phase, which is due to be 400 megawatts, is mostly unfunded.) The company says the public offering will fund “project-level capital expenditures,” as well as land holdings and general corporate expenditures.
Google comes up some 36 times in the document, most times in reference to the “Geothermal Framework Agreement” Fervo signed with the hyperscaler this past March. The S-1 describes the deal as a “3-gigawatt framework agreement … to advance and structure potential power offtake opportunities for current and planned data centers in both grid-connected and alternative energy solutions.” This deal, the company says, “establishes a structured process for the development of geothermal projects across specified regions of the United States,” and could involve the offtake by Google of up to 3 gigawatts of Fervo-generated electricity by the end of 2033.
What the framework is not is a power purchase agreement. One of the risk factors Fervo lists in the IPO document says, “The GFA is a non-binding agreement, and does not obligate Google to purchase power from us.” Instead, it is “a binding framework under which we may propose geothermal development projects to Google, but it does not obligate Google to accept any project, execute any power purchase agreement or provide us with any project financing.”
The agreement also places limits on Fervo, including from whom it can accept investment or financing. (The deal outlines a “broad category of entities defined as competitors,” which are all no-nos.) Overall, the company says, the arrangement gives Google “significant priority over our near-term development pipeline and may limit our flexibility to pursue alternative commercial, strategic, or financing arrangements that would otherwise be available to us.”
Upon going public, the company will have two shares of stock: Class A shares available to the public, and Class B shares owned by its founders, chief executive officer Tim Latimer, and chief technology officer Jack Norbeck. These Class B shares will have 40 times the voting rights of the class A shares and will allow Latimer and Norbeck to “collectively continue to control a significant percentage of the combined voting power of our common stock and therefore are able to control all matters submitted to our stockholders for approval.”
These arrangements are familiar with venture-backed, founder-led software companies. Alphabet and Meta are the most prominent examples of large, publicly traded companies that are under the effective control of their founders thanks to dual class share structures. Tesla, rather famously, does not have a dual class share structure, which is why CEO Elon Musk convinced his board to award him more shares so that he would maintain a high degree of influence over the company.
While other technology companies such as Stripe pile up billions in revenue without any near term prospects of going public, Fervo largely has spending to report on its income statement.
In 2025, the company reported just $138,000 in revenues with a $58 million net loss; that’s compared to a $41 million net loss in 2024. The revenues were “ancillary fees associated with rights to geothermal production at Project Red,” the company said. “This type of revenue is not expected to be significant to our long-term revenue generation, as we have not yet commenced large-scale commercial operations.”
And there’s more spending to come.
Fervo expects that the second phase of its Cape Station project will “require approximately $2.2 billion in capital expenditures through 2028,” which it hopes to pay for with project-level financing.
Fervo said it is “continuing to evaluate the effect of the OBBB” — that is, the One Big Beautiful Bill Act, which slashed or curtailed tax credits for clean energy companies — and that it wasn’t able to “reasonably” estimate the effect on its financial statements by the end of last year. The company does say, however, that it “may benefit from ITCs and PTCs (including the energy community and domestic content bonuses available under the ITC and PTC, in certain circumstances) with respect to qualifying renewable energy projects,” referring to the investment and production tax credits, which acquired a strict set of eligibility rules under OBBBA. It cautioned that the current guidance regarding tax credit eligibility is “subject to a number of uncertainties,” and that “there can be no assurance that the IRS will agree with our approach to determining eligibility for ITCs and PTCs in the event of an audit.”
The company also disclosed that earlier this month, it reached a deal with Liberty Mutual, the insurance company “to sell and transfer tax credits generated at Cape Station Phase I,” taking advantage of a provision of the law that allows credits to be sold to other entities with tax liability, and not just harvested by investors in the project.
The COVID-era political divide is still having ripple effects.
Six years ago this month, the Centers for Disease Control and Prevention began advising that even healthy individuals to wear face coverings to protect themselves against the spread of what we were then still calling the “novel coronavirus.” Mask debates, mandates, bans, and confrontations followed. To this day, in the right parts of the country, covering your face will still earn you dirty looks, or worse.
If there were ever another year to have an N95 on hand, though, it’s this one. This winter was the warmest on record in nine U.S. states; Oregon, Colorado, Utah, and Montana have also recorded some of their lowest snowpacks since record-keeping began. That cues up the landscape in the West for “above normal significant fire potential,” in the words of the National Interagency Fire Center, which issues predictive outlooks for the season ahead. And it’s not just the West: the 642,000-acre Morrill grass fire, which ignited in early March, was the largest in Nebraska’s history, while exceptional drought conditions stretching from East Texas through Florida have set the stage for “well above normal fire activity” heading into the spring lightning season. As of the end of March, wildfires have already burned more than 1.6 million acres in the U.S., or 231% of the previous 10-year average.
“Air pollution is the most significant toxic environmental exposure that the average person is ever subjected to, and wildfire smoke in particular is probably the most toxic type of air pollution [they’re] ever exposed to,” Brian Moench, the president at Utah Physicians for a Healthy Environment, a nonprofit clean-air advocacy group, told me.
Our understanding of just how dangerous that smoke is grows by the year. After having their grant pulled by the Trump administration, researchers at the University of California, Davis Health and UCLA persisted in publishing a report this winter reviewing more than 8.6 million births in California and demonstrating a link between exposure to wood smoke during pregnancy and the increased likelihood of autism. Another report, also published this winter by researchers from UCLA, estimated that the particulate matter from wildfire smoke is responsible for nearly 25,000 deaths per year in the United States, with no safe threshold for exposure.
“If a person is in a circumstance where they really can’t avoid wildfire smoke,” Moench added, “they absolutely should be doing everything they can to protect themselves.”
As public health offices around the country will tell you, one of the best ways to do just that is by donning an effective mask. N95 respirators specifically are about 95% effective at protecting the wearer against the dangerous particulates in wildfire smoke (although not gases or asbestos). Though not recommended by public health departments due to their comparative ineffectiveness, even surgical and cloth masks can offer limited particulate protection of about 68% and 33%, respectively.
But you have to actually wear them. After the Los Angeles fires in early 2025, health officials warned that exposure to toxic ash and dust remained a threat even after the air quality index returned to safe levels; one public health official who spoke to The New York Times recommended wearing a face mask for at least a month after the fires, a duration likely to feel interminable to all but the most cautious of people. “I think there’s a reluctance on the part of a lot of people to wear masks based not on anything other than they don’t want to make a political statement with their public outings,” Moench said. “I think there are a lot of people who just want to shy away from the controversy that they represent, irrespective of whether or not it’s a good idea.”
Moench has first-hand experience with the frustrating experience of promoting lung health in the polarized, post-COVID world of masking. Last year, Utah lawmakers floated a statewide mask ban with exceptions only for Halloween and masquerades — but not for legitimate health concerns such as poor air quality due to wildfire smoke. Though the ban was swiftly shot down, in part due to the outcry from disability advocates and environmental health groups, including Physicians for a Healthy Environment, the fact that the legislature floated it at all underscores how masks remain divisive, even years after mandates ended.
Many in public health have approached post-COVID messaging around masking by promoting scientific facts. Bev Stewart, the regional director of health initiatives at the American Lung Association of the Mountain Pacific, told me that in her experience, “It’s rare that somebody would say, ‘I would never, under any circumstance, wear a mask.’” She called the process of trying to reach skeptics a “conversation,” noting that there tends to be “a large misunderstanding about how lungs work” — namely, that masks offer protections that extend beyond the associations with the pandemic.
“Many types of air quality concerns could be mitigated with masks,” Stewart told me. “Sometimes we’re just thinking too narrowly about one specific instance and forgetting the forest for the trees.”
Others I spoke to, though, were doubtful that the populations who are most resistant to mask-wearing could be reached through facts alone. A portion of the country has “lost all respect for empirical evidence, facts, and science — virtually everything that modern civilization was based upon,” Moench said.
Jonas Kaplan, an associate professor of psychology at the University of Southern California, has put numbers to Moench’s conjecture. During the COVID pandemic, Kaplan studied how messaging can reach anti-maskers, discovering that when “information about masks was framed in terms of pure science, there was no significant reduction in anti-mask beliefs or change in mask-wearing behavior.”
Kaplan told me that a lot of the resistance in the anti-masking community comes down to, “What will people in public think of me? What would my friends think of me?” The most effective messages, he’s found, are those that speak to in-group values rather than presenting straight facts. “It wasn’t like, ‘Studies show that this is safe …’” broke through with the skeptics, Kaplan said. “It was more about emphasizing, ‘This is important, and we should care about it.’”
Science, though, does still have a vital role to play. Though we already have a better understanding of the impacts of smoke exposure than we did even a few years ago, more research is needed into its long-term effects. That will also give us greater clarity into how to best protect the more than 25 million Americans who are exposed to wildfire smoke every year — both physically, via better masks and air filters, as well as through better public health messaging.
“Smoke by itself — we know what’s in it, and we know you don’t want to breathe it in,” Emily Fischer, a leading expert on air pollution and a researcher and professor at Colorado State University, told me. “We also know that there are protective actions that families can prepare for, and do their best to take.”
Unfortunately, under the Trump administration, the Environmental Protection Agency, the National Oceanic and Atmospheric Administration, and the National Science Foundation, which had previously led research in the area, have drastically reduced their funding. Just this week, The Hill reported that NOAA has cut off grant funding to the University of Colorado’s Cooperative Institute for Research in Environmental Sciences, which, in addition to research into greenhouse gases, has extensively studied wildfire-related air pollution.
Fischer has been affected, too. “My team has had grants terminated related to air quality and protecting public health, and that’s really sad because the smoke doesn’t care if you’re a kid, if you’re elderly, or if you live in a red or blue state,” she said. “Families really need to think right now about how to protect themselves and their loved ones” against the smoke ahead, she told me.
Current conditions: Temperatures in the Northeast are swinging from last week’s record 90 degrees Fahrenheit to a cold snap with the risk of freezing • After a sunny weekend, the United States’ southernmost capital — Pago Pago, American Samoa — is facing a week of roaring thunderstorms • It’s nearing 100 degrees in Bangui as the Central African Republic’s capital and largest city braces for another day of intense storms.
The price of crude spiked nearly 7% in pre-market trading Sunday after the fragile ceasefire between Iran and the U.S.-Israeli alliance. Things had been looking up on Friday, when President Donald Trump announced what appeared to be a breakthrough in talks with Tehran in a post on Truth Social, saying Iran would “fully reopen” the Strait of Hormuz. By Sunday, however, the U.S. commander in chief was accusing Tehran of firing bullets at French and British vessels in the waterway in “a total violation of our ceasefire agreement,” adding: “That wasn’t nice, was it?” On Sunday afternoon, Trump posted again to announce that the U.S. had seized an Iranian-flagged cargo ship attempting to traverse the strait. The prolonged conflict will only harden the historic rupture the severe contraction of oil and gas supply to the global market in modern history has triggered in global energy planning. “As happened with Russia’s war against Ukraine, the consequences of the Hormuz closure cannot simply be undone. That leaves countries — especially poorer countries dependent on fossil fuel imports — with a stark choice about how to fuel their future economic growth,” Heatmap’s Matthew Zeitlin wrote last week. “The crisis may have tipped the balance towards renewable and storage technology from China over oil and natural gas from the Persian Gulf, Russia, or the United States.”
While the surge in gasoline costs “likely peaked,” Secretary of Energy Chris Wright warned that the price at the pump could remain above $3 a gallon until 2027 during an interview with CNN’s Jake Tapper on Sunday.
The Trump administration pitched its deal to pay TotalEnergies nearly $1 billion to cancel the company’s offshore wind leases as a win-win: The government would reimburse the French energy giant for every penny it spent to acquire the leases, and in exchange, Total would “redirect” the money to U.S. oil and gas development. But new document released Friday and analyzed by Heatmap’s Emily Pontecorvo show that “Americans’ side of the bargain appears to be worthless” given that “Total did not have to make any new investments to get its check.” Indeed, the company was already planning investments in the U.S. that would likely qualify under the deal.
Offshore wind investments are, meanwhile, moving forward. Danish developer Orsted has installed the first wind turbine at its Sunrise Wind project off the coast of New York, offshoreWIND.biz reported. The turbine is the first of what’s expected to be 84 turbines totaling nearly a gigawatt of maximum capacity. It comes just weeks after Wind Scylla, the Cadeler-owned vessel specially designed to deploy turbines, completed work on Revolution Wind, Orsted’s flagship first project off the coast of Rhode Island. That the project is moving ahead as normal is a victory unto itself. The Trump administration pulled out every stop to halt construction of all offshore wind projects.
The Supreme Court ruled Friday that energy companies facing lawsuits over environmental damage to the Louisiana waterfront from oil and gas production can move those cases from state to federal court, where more favorable outcomes are expected. In a unanimous decision in favor of Chevron, Justice Clarence Thomas wrote that “Congress has long authorized” the transfer from state to federal courts. The New York Times described the ruling as “a significant victory for oil companies.”
The decision comes two months after the Supreme Court agreed to hear Suncor Energy Inc. v. County Commissioners of Boulder County, which concerns jurisdiction for “public nuisance” claims. It’s still awaiting a hearing date. But the litigation, which dates back to 2018, came when the city and county of Boulder, Colorado, sued the oil giants Exxon Mobil and Suncor for damages from climate change, bringing charges under state law. “The oil companies tried repeatedly to get the case dismissed, arguing that it belonged in federal court. But time and again, the courts disagreed. The Supreme Court already rejected an earlier petition to review the question of whether the case belonged in state or federal court in 2023,” Emily wrote in February. “Now it has agreed to consider a slightly different petition, filed last summer, over whether federal law preempts Boulder’s state-law claims.”
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Pharmaceutical giant Eli Lilly has agreed to work with the state of Indiana to build out “a future pathway for nuclear energy solutions” including “small modular reactors and other advanced nuclear technologies.” The drugmaker behind antidepressant Prozac and erectile dysfunction treatment Cialis signed a letter of intent with the state last month. The deal, first reported by Axios on Friday, marks the latest example of a big corporate power user laying out plans for atomic energy investments for something other than data centers. In 2022, the steelmaker Nucor signed a deal with nuclear developer NuScale to explore building a small modular reactor near one of its electric arc furnaces, and last year forged an alliance with The Nuclear Company to consider backing the startup’s efforts to establish a supply chain for building fleets of reactors. In 2023, Dow Chemical inked a deal with X-energy to use the next-generation nuclear developer’s high-temperature gas-cooled reactors to potentially swap out fossil fuels for splitting atoms as its industrial heat source.
Not all is looking rosy for the nuclear industry. Fermi America, the startup led by former Texas Governor Rick Perry and which promised to build a giant data enter complex backed by, isn’t just “faltering, it’s imploding,” according to a report by independent energy journalist Robert Bryce. But other projects are advancing. On Friday, the next-generation reactor startup Kairos Power broke ground on its demonstration project in Oak Ridge, Tennessee. Then, on Saturday, Bloomberg reported The Nuclear Company was moving forward with a bid to finish construction of either South Carolina's abandoned V.C. Summer nuclear plant or one of two other potential locations in the state.

Brazil is racing to develop its critical minerals as the U.S. looks for new sources in the hemisphere that can help Washington loosen China’s grip over the metals. Just how to regulate the nascent industry is a hot topic in Brazilian politics right now. Lawmakers who back left-wing President Luiz Inácio Lula da Silva are pushing to form a state-owned mining company. In a Sunday post on X, Lula boasted that Brazil “already holds the world’s largest reserve of niobium, the second largest of graphite and rare earths, and the third largest of nickel” — and “only 30% of the mineral potential” is mapped out as of yet. Following the lead of mineral-rich countries in Asia and Africa, Brazil said it would look to make deals for processing and refining. “We will not repeat the role of mere exporters of mineral commodities,” Lula wrote. “We are open to international partnerships that include stages of higher value added and technology transfer.”
That could be an opening for deals with China, which dominates the processing industry. Countries such as Indonesia and Zimbabwe banned exports of raw ore in a bid to capture more of the industrial supply chain. “There are a lot of countries that want something like this right now,” Tim Puko, a minerals analyst at the Eurasia Group, told me on X. “Brazil is one of the few with a good chance of pulling it off.”
Japan may be facing record gas prices as the Iran War squeezed shipments of liquified natural gas. But it’s got some backup coming onto the grid from two sources of clean firm power. Unit 6 of the Tokyo Electric Power Company’s Kashiwazaki-Kariwa nuclear power plant, a 1,356-megawatt Advanced Boiling Water Reactor shut down after Fukushima, has resumed commercial operation, World Nuclear News reported. Furusato Thermal Power has announced that the roughly 5-megawatt Waita No. 2 geothermal power plant, located in Kumamoto Prefecture, Japan, has officially started commercial operations, just two years after construction started, ThinkGeoEnergy reported.
Editor's note: This article was updated after publication to include other sites The Nuclear Company is considering in South Carolina.