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Economy

A power worker.
AM Briefing

White Out

On geoengineering, Boston Metal’s setback, and French fusion

AM Briefing

Renewables’ Year of Defiance

On the California atom, Russian nuclear theft, and Taiwan’s geothermal hope

Green
Podcast

What the Supreme Court’s Tariff Ruling Means for the Energy Transition

In this emergency episode, Rob unpacks the decision with international supply chain specialist Jonas Nahm.

Blue
Sparks

RIP Trump’s Liberation Day and Fentanyl Tariffs

Clean energy stocks were up after the court ruled that the president lacked legal authority to impose the trade barriers.

The Supreme Court.
Heatmap Illustration/Getty Images

The Supreme Court struck down several of Donald Trump’s tariffs — the “fentanyl” tariffs on Canada, Mexico, and China and the worldwide “reciprocal” tariffs ostensibly designed to cure the trade deficit — on Friday morning, ruling that they are illegal under the International Emergency Economic Powers Act.

The actual details of refunding tariffs will have to be addressed by lower courts. Meanwhile, the White House has previewed plans to quickly reimpose tariffs under other, better-established authorities.

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AM Briefing

Loaded Barrel

On geothermal’s heat, Exxon Mobil’s CCS push, and Maine’s solar

Donald Trump.
<p>Heatmap Illustration/Getty Images</p>

Current conditions: More than a foot of snow is blanketing the California mountains • With thousands already displaced by flooding, Papua New Guinea is facing more days of thunderstorms ahead • It’s snowing in Ulaanbaatar today, and temperatures in the Mongolian capital will plunge from 31 degrees Fahrenheit to as low as 2 degrees by Sunday.

THE TOP FIVE

1. Oil prices jump as Trump threatens to attack Iran

We all know the truisms of market logic 101. Precious metals surge when political volatility threatens economic instability. Gun stocks pop when a mass shooting stirs calls for firearm restrictions. And — as anyone who’s been paying attention to the world over the past year knows — oil prices spike when war with Iran looks imminent. Sure enough, the price of crude hit a six-month high Wednesday before inching upward still on Thursday after President Donald Trump publicly gave Tehran 10 to 15 days to agree to a peace deal or face “bad things.” Despite the largest U.S. troop buildup in the Middle East since 2003, the American military action won’t feature a ground invasion, said Gregory Brew, the Eurasia Group analyst who tracks Iran and energy issues. “It will be air strikes, possibly commando raids,” he wrote Thursday in a series of posts on X. Comparisons to Iraq “miss the mark,” he said, because whatever Trump does will likely wrap up in days. The bigger issue is that the conflict likely won’t resolve any of the issues that make Iran such a flashpoint. “There will be no deal, the regime will still be there, the missile and nuclear programs will remain and will be slowly rebuilt,” Brew wrote. “In six months, we could be back in the same situation.”

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