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It came out of nowhere.
Monsters don’t only sneak up on you in horror movies. In the dark of Monday night, a storm system brewing in the Eastern Pacific still looked as if it would make landfall near Acapulco, Mexico, as nothing greater than a tropical storm. But within just 12 hours on Tuesday, Tropical Storm Otis intensified by 80 mph into a full-blown hurricane; when it made landfall just after midnight on Wednesday morning, it had exploded into an unprecedented Category 5 storm. Eric Blake, a forecaster with the National Hurricane Center, called the event nothing short of a “nightmare scenario.”
Hurricane Otis is not the first storm to sneak up on forecasters this year, and if new hurricane research I recently covered is any indication, it won’t be the last, either. Hurricanes are more than twice as likely to intensify from a Category 1 storm into a Category 3 or greater in a single day than they were between 1970 and 1990, Andra Garner, an assistant professor at Rowan University, found when she looked at historic patterns in the Atlantic. “When storms intensify quickly, they can become more difficult to forecast and to plan for in terms of emergency action plans for coastal residents,” she told me via email last week, adding presciently, “I think these findings should really serve as an urgent warning for us.”
Here’s how five meteorologists have illustrated the unprecedented danger of Hurricane Otis:
Just to emphasize how poorly hurricane & global models performed for Hurricane Otis... here's the intensity forecasts initialized 24 hours ago, with the dotted black line showing verification: pic.twitter.com/DN5pf7lcOS
— Tomer Burg (@burgwx) October 25, 2023
And here’s another fun fact from meteorologist Tomer Burg about hurricanes named Otis doing surprising things.
Not too many storms are this unpredictable. Each colored line represents an intensity forecast from the NHC, made every six hours. The thick black line is the observed intensity. None of the models saw this coming either. pic.twitter.com/ljwxPYnEbV
— Brian McNoldy (@BMcNoldy) October 25, 2023
#Otis took full advantage of a warm patch of ocean last night... passing over 31°C water on its approach to #Acapulco. The extremely rapid intensification from a tropical storm to a Category 5 hurricane took place over this tiny area. pic.twitter.com/f6fpYD1DOk
— Brian McNoldy (@BMcNoldy) October 25, 2023
“Imagine starting your day expecting a stiff breeze and some rain, and overnight you get catastrophic 165 mph winds,” Brian McNoldy, a senior research associate at the University of Miami’s Rosenstiel School, also tweeted.
This is not just a rare & dangerous event for October, but anytime of year in #Acapulco, which has not been directly impacted by a major hurricane like #Otis in the EPAC best-track record (back to 1949).
The last hurricane to affect the area directly was a 75 kt TC in 1951. pic.twitter.com/kBh1QoosGB
— Philippe Papin (@pppapin) October 25, 2023
The last hurricane to hit the Acapulco area directly was a significantly weaker tropical cyclone in 1951. Philippe Papin, with the National Hurricane Center, further explains on Twitter why Hurricane Otis is distinct from Hurricane Pauline in 1997, a Category 4 storm that killed hundreds near Alculpoco due to regional flooding and rainfall, but which actually made landfall further southeast.
#Hurricane #Otis has intensified by 80 mph in the past 12 hours (from 65 mph to 145 mph). That's the fastest 12 hr intensification rate in the eastern North Pacific (to 180°) in the satellite era (since 1966), breaking the old record of 75 mph/12 hr set by Patricia in 2015. pic.twitter.com/O5BrIrUi5X
— Philip Klotzbach (@philklotzbach) October 25, 2023
Colorado State University researcher Philip Klotzbach emphasized why it’s so hard to prepare for a storm like Otis — because with that sort of speed, you just can’t see it coming.
Wow...seeing #HurricaneOtis rapidly strengthen from a Tropical Storm yesterday at noon to a Category 5 Hurricane at midnight is astounding...almost mind boggling. #Acapulco #Hurricane pic.twitter.com/9jgOu1F8Bg
— Meteorologist Zach Maloch (@ZachMalochWX) October 25, 2023
Mind-boggling, indeed.
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Tristan Abbey would come to Washington from a Texas think tank that argues peak oil is way off base.
Donald Trump’s pick to run the Energy Information Administration works for a think tank that denies the existence of an energy transition.
The Energy Information Administration is the nation’s primary energy fuel and power forecasting agency. Since its inception in 1977, EIA has become a go-to source of data for many U.S. businesses, analysts, and policymakers alike. The agency’s previous administrators have been relatively apolitical academics and industry experts, including under the first Trump administration, whose EIA administrator came to the role from a faculty position at Rice University. The office’s current acting administrator is Stephen Nalley, who was appointed deputy administrator by Trump in 2018 after serving in various other roles at the agency.
Last month, however, the president quietly nominated a new EIA administrator who may represent a new direction for the agency. Tristan Abbey is an energy consultant and a senior fellow with the National Center for Energy Analytics, a think tank founded last year by a conservative policy outfit, the Texas Public Policy Foundation. The group argues against the concept of “peak oil,” the notion that the world will one day hit a maximum level of oil demand as it transitions to other (presumably more climate-friendly) fuels.
“There has never been a more critical time for sober-minded, fact-based, emotion-free perspectives in energy domains,” the think tank proudly declares on its About webpage. “The U.S. and European governments, along with many U.S. states, are embarking on the biggest industrial spending program in history, all directed in the pursuit of an ‘energy transition’ with the goal to rapidly replace hydrocarbons that currently supply 80% of the world’s energy. Why are the stakes so high? ‘Transitions’ of such scale have never occurred. And energy is fundamental to everything in civilization.”
Abbey was previously director of energy and environment at the National Security Council from 2017 to 2019 under Trump 1.0, and was also chief economist for the GOP on the Senate Energy and Natural Resources Committee, boasting in a CV that his role included successfully repealing a federal oil export ban. Per that CV, he previously worked for Clarium Capital Management and Founders Fund, two hedge funds founded by GOP financier Peter Thiel. Abbey was also on the Trump 1.0 transition team, according to his LinkedIn.
Today, Abbey also works with the Energy Policy Research Foundation, a D.C. petroleum research organization, and recently stepped away from working at the Trump-affiliated America First Policy Institute, according to an ethics disclosure posted online.
Abbey’s work at the NCEA provides insight into the views he may bring to the top of EIA.
His biggest achievement at the think tank was authoring a report declaring that global gas demand will remain strong. “[T]he broad directional arrows are distinguishable: for the foreseeable future, the world will need far more electricity and more industrial energy, and a significant portion of that will require natural gas,” the report said. “The federal government never decided to become the world’s largest LNG exporter, but it did allow private companies to make that happen. The decision that it can make today is to preserve that achievement.”
On a webinar about the report, Abbey called on the U.S. to take steps to increase domestic natural gas consumption and find new ways to use LNG in various consumer products and industrial processes. “Is there something that is holding U.S. industry back from using more natural gas than it would otherwise?,” he asked.
The NCEA is a key player in a highly consequential but wonky debate in Washington about whether the U.S. should try and put thumb screws onto the International Energy Agency, a world power and fuel forecasting body overseen by the OECD, an international body to which the U.S. is the single largest contributor.
The IEA has previously predicted “peak oil” may occur before 2030 — one of many predictions that have led some Republicans in Washington to declare the IEA is no longer impartial and a “cheerleader” for renewable energy. These Republicans have been led by Senator John Barrasso, one of the lawmakers who will oversee Abbey’s nomination. Another fan of this view is Kathleen Sgamma, Trump’s pick to run the Bureau of Land Management, who cited the NCEA to call on U.S. policymakers to pressure the IEA into “meaningful reform” of its forecasting about the energy transition. The op-ed was first reported by E&E News’ Scott Waldman.
How does Abbey feel about the war on the IEA? We’ll find out at his confirmation hearing, which has yet to be scheduled. We’ve asked Republicans on the committee for an update on when that’ll happen and we will let you know once we find out. Given they’re still working through other more high-profile nominees, that’ll take a while.
Microsoft is canceling data center leases, according to a Wall Street analyst.
The artificial intelligence industry is experiencing another TD Cowen shock.
The whole spectrum of companies connected to artificial intelligence — the companies that design the chips, that supply the power, that make the generation equipment — shuddered Wednesday when the brokerage released another note from analysts pointing to evidence that Microsoft was giving up on its data center leases.
“Microsoft has both (1) walked away from +2GW of capacity in both the U.S. and Europe in the last six months that was in process to be leased, and (2) has both deferred and canceled existing data center leases in both the U.S. and Europe in the last month,” the analysts wrote.
Microsoft is one of the biggest players in the artificial intelligence industry, with its near-$14 billion investment in OpenAI and acommitment to spend $80 billion on data center capacity this year.
The company is pulling back, the TD Cowen analysts said, because it had decided not to support incremental increases in training workloads for OpenAI models. Shares in Nvidia, the chip designer that’s become one of the most valuable companies in the world on the back of optimism about artificial intelligence, are down 7% since market close Tuesday, while shares in the power companies Vistra and Constellation are down 9% and 7% respectively. GE Vernova, which makes turbines for gas-fired power plants, is down 9%.
Much of the power industry saw huge increases in their stock prices in 2024, as investors bet on increased demand for electricity from data centers, manufacturing, and electrification. But 2025 so far has been a year of mild expectations.
In February, Cowen analysts issued a similar note warning that Microsoft was pulling back on some of its data center leases. And in January, of course, many of the AI and energy stocks that had been soaring 2024dropped when the Chinese artificial intelligence company DeepSeek released an open source model comparable in performance to the state of the art in the United States but that required far less computing power to train.
The Cowen analysts were hardly doomy about AI and data center construction, writing that Google and Meta may be “backfilling” the capacity left behind by Microsoft as they seek to expand their own data center footprints.
But the case for across the board optimism may be slightly dimming across the sector. CoreWeave, which buys Nvidia chips and operates data centers, has had to reduce the amount of money its seeking to raise in its planned initial public offering to $1.5 billion, from the over $4 billion it was looking to get from investors earlier in the IPO process, Bloomberg reported. Nvidia, an investor in CoreWeave and its most important supplier, will be “anchoring” the IPO, kicking in $250 million.
The tax agency reopened its online portal to allow dealerships to register sales retroactively.
As recently as last month, some electric vehicle buyers were running into roadblocks when they tried to claim the EV tax credit on their 2024 returns. Their claims were rejected, it turned out, because the dealership where they bought their EV never registered the sale with the Internal Revenue Service.
On Wednesday, the IRS instituted a fix: It reopened the online portal for dealerships to report these sales retroactively.
The confusion all started with a major change the IRS made to the EV tax credit program last year. Previously, all dealers had to do was give the buyer a “time of sale” report that they could submit to the IRS come tax season. But as of 2024, dealerships were expected to register every EV sale that was eligible for the tax credit through this new online portal. Not only that, they had to do so within three days of the sale. The portal would not allow entries dated more than three days post-sale.
The IRS and the National Automobile Dealers Association did outreach to educate dealerships about the changes, but many were apparently still unaware of the requirements — some never even made an online account. Customers were similarly ignorant of the intricacies of the process. Many received time of sale reports and thought they were all set. But in January, when they began trying to claim the credit on their taxes for the previous year, they were surprised to receive an error message saying that their EV was not registered with the IRS. Some tried to get their dealerships to register the sale retroactively, but the IRS portal didn’t allow for it.
President Trump has vowed to kill the EV tax credit, and Congress is just now beginning to hammer out the legislation that could execute his wishes. In light of that, and given the relative chaos at the IRS caused by Elon Musk’s “efficiency” department demanding access to private taxpayer information and laying off thousands of IRS employees, it was unclear whether the Treasury Department would do anything to help these unlucky EV buyers seeking their refunds. The Treasury did not respond to multiple inquiries from Heatmap in February.
The Dealers Association also never responded to multiple inquiries from Heatmap about the issue. But in a notice to dealerships this week, first reported by NPR, the trade group said the IRS planned to roll out an update to the portal on Wednesday to allow for sales made in 2024 to be submitted.
If any of this has made you nervous about getting an EV this year, remember that you have another, safer option for claiming the tax credit. Instead of claiming it on your taxes in 2026, you can transfer it to your dealer, who can take it off the sale price of the car on the spot. Just make sure they know about the online portal!