Return-Path: <1axb0qu5iscjq7k50by93720trxz9guoyh63de-alvarochf=traceseis.com@bf56x.hubspotemail.net> Delivered-To: alvarochf@traceseis.com Received: from cs510.bluehost.com by cs510.bluehost.com with LMTP id eIY9N9XW3Gk9LQAAWiBQxw (envelope-from <1axb0qu5iscjq7k50by93720trxz9guoyh63de-alvarochf=traceseis.com@bf56x.hubspotemail.net>) for ; Mon, 13 Apr 2026 05:43:17 -0600 Return-path: <1axb0qu5iscjq7k50by93720trxz9guoyh63de-alvarochf=traceseis.com@bf56x.hubspotemail.net> Envelope-to: alvarochf@traceseis.com Delivery-date: Mon, 13 Apr 2026 05:43:17 -0600 Received: from bd77g8p.bf56x.hubspotemail.net ([143.244.94.119]:59603) by cs510.bluehost.com with esmtps (TLS1.2) tls TLS_ECDHE_RSA_WITH_AES_128_GCM_SHA256 (Exim 4.98.2) (envelope-from <1axb0qu5iscjq7k50by93720trxz9guoyh63de-alvarochf=traceseis.com@bf56x.hubspotemail.net>) id 1wCFhF-000000003ZM-0nzc for alvarochf@traceseis.com; Mon, 13 Apr 2026 05:43:17 -0600 Received: by 172.16.4.60 with SMTP id a0cgfhxxtp4xci4lpnz0g3q5ofcsjkgik5az1axzbgq; Mon, 13 Apr 2026 11:43:06 GMT DKIM-Signature: v=1; s=hs1; d=bf56x.hubspotemail.net; i=@bf56x.hubspotemail.net; h=sender:from:from:reply-to:to:to:cc:cc:subject:subject:list-unsubscribe:form-sub:feedback-id:list-unsubscribe-post; a=rsa-sha256; c=relaxed/relaxed; bh=q+OFFAtUvpr29OBXv9rdIna3SeKpkDYahWXhkJSl3yo=; b=GesaDi8xTbL1GdbH8thfvKOMm2MKebK2BTVW2nGezuX3OpzCD9HK6RfuwxPDwc aGymb1aHyrjryTFAlsIhe9w5qE5pWf/JHfjYeKLlcW0uINerC5sMVXgrljnbIqs Hk3j8b4ewvFq+L5YtuDWN/YqlnR6dQZ6YJbMAZqZekDPbIbbWJclIPnRfmVoQS/ XB3nExSkBlV4g/xSYSsNQUGWErh3B0hfQP0ghBeN4ZfurDRPYDiCt9UitO6Qhu9 +QNKSU5Bmr5Y8uIL40NW2OiRI6ObiO1LM7l8xA8vpb0eomz3Kp75SnizTpSi9qs PCQsE1MUVMO8ZEDl/Ip3L997TAaA==; q=dns/txt; t=1776080586; x=1776343386; DKIM-Signature: v=1; s=hs2-23917781; d=heatmap.news; i=@heatmap.news; h=sender:from:from:reply-to:to:to:cc:cc:subject:subject:list-unsubscribe:form-sub:feedback-id:list-unsubscribe-post; a=rsa-sha256; c=relaxed/relaxed; bh=q+OFFAtUvpr29OBXv9rdIna3SeKpkDYahWXhkJSl3yo=; b=Jo9y+g5LfClMA5Zwm5ML2NtACDmzWzgECq+9kNLCRJFsU39G/MqcYXzRsNSu3l 1qYMhEvk+zOaPcC9QQk2zUpIIp8JSHWESsZQ5zkHgzt5DWnhWFRAI3FMSe66qng I/Oz8B/Qsf4I49loONZv9Toar/6881wHUERenxccuHkD7YtNBF2kD50cW9lABmj aDMg8ttYg9iYp5Kmpuc5NaDUeWLL2YxQJxzZCEmST6hCtDF1o69cbNTsfDohEyF lucTdf5SurfwLBc9V8Rig2++ORsJUYH9M7trLFilXaZgQzi1s23CiRCY6MxBv9/ Ymuqjbr+uOTs6xC+oWtnYmnvoMjA==; q=dns/txt; t=1776080586; x=1776343386; X-HS-Cid: 1axe7swwgld3big9ytj0b9867cn4tywx5t1ccy List-Unsubscribe: , Date: Mon, 13 Apr 2026 07:43:06 -0400 From: Heatmap AM Reply-To: editors@heatmap.news To: alvarochf@traceseis.com Message-ID: <1776080565750.1336e9c9-7e90-4053-adb7-715fced108d3@bf56x.hubspotemail.net> Subject: =?utf-8?Q?Trump=E2=80=99s_Blockade?= MIME-Version: 1.0 Content-Type: multipart/alternative; boundary="----=_Part_1164410_123255689.1776080586290" X-Report-Abuse-To: abuse@hubspot.com (see https://policy.hubspot.com/abuse-complaints) List-Unsubscribe-Post: List-Unsubscribe=One-Click Feedback-ID: aeoixc3:aig4ghq0:aidf:HubSpot X-Spam-Status: No, score=-0.5 X-Spam-Score: -4 X-Spam-Bar: / X-Spam-Flag: NO ------=_Part_1164410_123255689.1776080586290 Content-Type: text/plain; charset=utf-8 Content-Transfer-Encoding: quoted-printable On Hungary=E2=80=99s political earthquake, mining in Argentina, and the Sam= Altman attack heatmapAM_logo_fullcolor_whitebg (https://d2QWfV04.na1.hubspotlinks.com/Ctc= /X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRFY3pyd0W6N1vHY6l= Z3lpW2H2XG9187Kc3Vw6TK46ssmCVW4kcn_X5JSfVXN2KVPkH5Hc1mW2mlJS-5CQYZgW1Ffc1W4= ndk8ZW2T_tkH97zQz5W6m3Bd05Yg92ZW7hQkTT4gXDTgW7W1bz14Z_zJ4W4hzP8Z3LHGmrW7N2M= jm2snqHwW6_Wt9K6Gcm8TW6t23LK2k28KxW1CqB4z2PdRfHW2VH8JF7bhmxZW63fj0f5p_QCBW1= x3P7v5xR9gvW5FkqRB74Yt0DW4n5my55pJS2yW39h1WX6hQQ1sW6Hvlxy7NbW32f4YTF8s04 ) ALEXANDER C. KAUFMAN =E2=80=A2 APRIL 13, 2026 Current conditions: A storm corridor is set to pummel a swath of the United= States from the Plains to Great Lakes for the next days =E2=80=A2 Super Ty= phoon Sinlaku is barreling toward Guam, where it is poised to make landfall= as the equivalent of a Category 5 hurricane, while to the south Cyclone Va= ianu forces hundreds of evacuations on New Zealand=E2=80=99s North Island = =E2=80=A2 Santo Domingo, the Dominican Republic=E2=80=99s sprawling capital= , is facing days of intense thunderstorms as floods displace cars in the Ca= ribbean=E2=80=99s largest city. THE TOP FIVE 1. Trump threatens to blockade the Strait of Hormuz as Iran talks collapse Contrary to popular parlance, the Strait of Hormuz hasn=E2=80=99t been clos= ed these past few weeks. It=E2=80=99s just been closed to any cargo not app= roved by the Iranian government. As I told you last week (https://d2QWfV04.= na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQ= RgNN8_nRGd3pyd0W7lCdLW6lZ3pqW1MVVTf3n0n44W61ThMS7Xtm3-W1rRLC79jx8YxW8WWHc57= Gl8RfW3P04hb62VfQ0W7NYLfv7ffq3-W3dTQxd5pZ_fFN52g8v7Cg3JmW8j8Tyc5x1H6NN1vdzJ= lb5b6yW5Rg9n46W0wPzN6z83V0jK4BsVY5gKF1ZdMw6W25zJhP629KzSW6d3Zs_4KqmP2N8_6QL= Vcp0FpW1cfN506-chvPW2CNrxM28dnXRW7QBvv-4rhnwkVC-dNV2zRslhW6xmR8y8g48MBW2rjg= x25TRFbDVHTMxG3km760W54c6sr4vbp5Tf6BGL1q04 ) , a Wall Street analyst who we= nt on a Gonzo reporting mission armed with Cuban cigars and packets of Zyn = nicotine pouches to the Persian Gulf chokepoint concluded that billions of = dollars of goods were passing through the waterway, but only on Iranian-fla= gged ships or Chinese vessels enjoying the benefits of political alignment = with the Islamic Republic. After talks this weekend failed to reach a deal = to fully reopen the Strait of Hormuz, the United States is planning a naval= blockade to prevent any ships from passing and subject Tehran to the same = pressure Washington is facing from the closure. That=E2=80=99s what Preside= nt Donald Trump announced Sunday in a series (https://d2QWfV04.na1.hubspotl= inks.com/Ctc/X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRGR3p= yd0W8wLKSR6lZ3lJW95kBsc8p5L9mN78-sP0NWrjtW14Ccyq2YxBMSVpShnB1C2CS5W8l0tnt3S= k1NsMbJ277RmzCnW35-Snh8-VHl4N3mD-sWRsXj_W96ZWl4716mGbW2_gFzP4KWXBhW7bZ0x85n= 0kJcN1YMMM_V8rgXW6sWvzJ3c_xnjW7m7Xz76pw7DFW7X27-x5yXghnVP8vfc2MhTjlW8S9q0w2= qkXMhW7l5Br-3xtm3TW2jJ9Sx8pBbnzW9hzK997YK-4XW32FZSf8YLXJhW9gJnv-7LNgQ9W6JW2= sN7-6N-sW4c4VwW1Ypf2vW23g4lg7-mV7SW2LfZR_2Zv_CnW8W3LZg6MYfgzW6zGJX24g8HWwf2= NdcyK04 ) of posts on Truth Social. In a reversal of last week=E2=80=99s ce= asefire deal, Trump said the U.S. would =E2=80=9Cinterdict every vessel=E2= =80=9D in international waters that passed through the Strait of Hormuz aft= er paying Iran a toll, calling such a levy =E2=80=9Cillegal=E2=80=9D and = =E2=80=9Cworld extortion.=E2=80=9D Oil prices spiked again in response to the president=E2=80=99s announcement= . Already, as Heatmap=E2=80=99s Robinson Meyer reported (https://d2QWfV04.n= a1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQR= gNN8_nRGx3pyd0W7Y8-PT6lZ3mhW87hYhy4svSfjW3ZJjZg62_2V8W1MBKj-68lH6yW5sJgp04Z= VzLlW97VVzC1j-yq0N19PNYQzb6j5N4B09X3sTc6cW1TSyh61rh9fXVJLdW05lygSyW8VkZBs4j= W3pnW3G60gh1nhXPKW7rwp9F5sxY2KW4ZmB951vyvQvVBmbJ64VG1V-W66kc7r4cJD8YMcvcLWx= YqWgVW05MJ2QD6bbW1MvfRt5T7NGfW2DLqdp3vJ9KtW6TKNP932yMBkW1_klqT2VMSKGW5jscql= 2V3RdxW5sTZdV8BsdVTW7tN2Gc8bdvmfW1DRY4x3hn6lRW6750F_5Q_d2hf4b4DH404 ) last = week, the war has cost Americans $17 billion at the pump. And even with the= ceasefire in place, the end of the energy shock looked hazy at best, analy= st Rory Johnston said on the most recent episode (https://d2QWfV04.na1.hubs= potlinks.com/Ctc/X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nR= Gx3pyd0W7Y8-PT6lZ3nfW6h10wK6XVTttW4R-2j-3Q5Ld9W1_CfMw491Dy-W612tWM287WGjW4p= mwF54tKDM-W7hGNy13HY5WtW88sdY26N2RJTW3b_Vhr2qG5KqN4WL1q3HHpNCW7vy6kL49pYvtW= 3kkkW48_Dq2PW7gc8NV1lWpbfW34CJwB6F7bJKW261h6w7SsZmWW8D1Lv53lqqPDW1Z85hB89BC= JWW2MpJQW2hvQ3sVQ_k-Y9ftdvsW1H1fXS2jkMc-VgvYS16-wwSvVKdxK38K21YQMRXq2Tt4q_g= W26_W9p6ZTNB-W1DG4Pd2VG8k7W5vdLvL3XPF3yW14dwb74VmJN2f4JCztY04 ) of the Heat= map podcast Shift Key. 2. Viktor Orb=C3=A1n=E2=80=99s defeat in Hungary could disrupt the country= =E2=80=99s big nuclear project The Russian and Hungarian flags fly side by side at the Paks II building si= te. Photo: Janos Kummer/Getty Images For nearly two decades, Viktor Orb=C3=A1n ruled over Hungary with an increa= singly tight-gripped fist, maintaining the closest relationship between Rus= sia and any NATO country and providing what=E2=80=99s widely considered a b= lueprint for the West=E2=80=99s illiberal right to reduce checks on the pow= er of the ruling party in a democracy. In February, his government oversaw = the official start (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV0= 4/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRH63pyd0W95jsWP6lZ3l8W8ncrbb2gK= 1FPW47gSdP5K_z50N86pgmg8nmccW5whCZH85mlZ2W6Pf6sX4w0rgwV28cdj99RCj0W5Y5hNn72= js0DW6XBT9F8cJn1fW2BcdKv2Nc5v5W8lw-s31WwQ6vW5Q0NQm2YL8hfW3v8-Wd5DscwrN2c3Z0= WK8hmLV-BWQV90QgWzW7x3m2N4ScyBRV4GXX36T6q4JW99H1Y32v6Qv3VNzzlW6r5RlFW6NQW16= 1089_dW3P3-xq5SRdjtN77Vwr2fjQ0LW2MtPQD7HbJ_zW8zHQwd19gv1ZW7X8ZCD8vSCthW69c1= 0T1jSNmfW5L6Lhf3TtxhsF1HZjjhbsN-W12x__d7JWtlVW2fdqS82rWww0W7pc34m7QDFrtf2d_= QNq04 ) of construction on Paks II, a major new nuclear project Hungary hir= ed the Russian state-owned Rosatom to build. Now Orb=C3=A1n=E2=80=99s 16-ye= ar tenure is coming to an end after rival conservative P=C3=A9ter Magyar wo= n Sunday=E2=80=99s election in a landslide. During the heated campaign, whi= ch saw Vice President JD Vance visit Hungary to campaign on Orb=C3=A1n=E2= =80=99s behalf in the closing days, Magyar depicted the incumbent right-win= g ruler as a corrupt authoritarian selling out the country to its former So= viet imperial rulers in Moscow and vowed to rebuild Budapest=E2=80=99s ties= with the European Union and NATO. That could spell trouble for Paks II. Th= e project has stood out as the Kremlin=E2=80=99s last new commercial footho= ld in the West=E2=80=99s nuclear industry. At the start of the Ukraine war = in 2022, Finland canceled a domestic joint venture with Rosatom. The U.S. n= uclear giant Westinghouse, meanwhile, has cut deal after deal to supply Rus= sian-made VVER reactors in Slovakia (https://d2QWfV04.na1.hubspotlinks.com/= Ctc/X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRH63pyd0W95jsW= P6lZ3mCW2svgZG4gJJS1W2334dz6H6BQ2W1dWJkZ7TrJGGVsy2xK4qZdJVW50hk7s3P-2DDN4vF= rffVd-hbW3NsLw-1sKn5HW4fffDk6WzkyVW8lM9q15g_XMvW6M00XJ4NF-vnW8MjDgY2RH54PW2= Q9Wch2dL_CZVLH7TD5H_s1kW2fCPPQ2YZvDdW4G1b543gP0kTW36-JZS5BjDSdN7FVs2LxZT4hW= 9jY07K7N8sRjW8Gnddk4Ss3NDW7WHlyV6rW-9dW69bGdH3pdw1TW95YlPB3kxdPvN2SpdlYby36= yW2f7R6k2w4McRW5Bv-Gl8k1M1zW3x1ZWX2lC2X9W6ds7fg3B0k2PW3HcrBQ3WDTgBN146Zx-Dk= qzHMyl19tG7f5mf8MYZls04 ) and Bulgaria (https://d2QWfV04.na1.hubspotlinks.c= om/Ctc/X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRFl5n4LbW5B= Wr2F6lZ3l8N9d_R6JshVThW6xQMNz6bxXXcW1D_8Gw24nqVKW5qhJZt3K7R_XW4_Z98w6yWLNjW= 3vPNFZ1Qx-n8W8ksS_h6qV1fCW7mg_NH7nLPz3W4mS1Ns863y4sW2L75JV8z93_3N53kBh-3m23= 9W7rV7X11g5PLqW7P8rYc14gGySW5809511v1DHdW1TpWRN6DVjH8VwVxZb71GnH5W1gS7-L73Q= N7fW46sTKW5ntY3GW7-TFCG7MMbvLW7N2m3L4Qnt5nW2wr2Th31l46gW3GxgL52Hxs1XW935NRR= 7X-S51W4d0PQr6YP3r4VJnS9r8NWmM0W34cwDC4l17LzW2SKX4f5sV_hLW5Q1jnz4xmNpcVMYpd= 73Ly83wVldH9D5fJ63bW1d7_hg4yqRDrW3DXHXl187ZSYN2zl6nQmKff0W7XZqMW8hQr2vf94r4= SP04 ) with America-made fuel assemblies. Last summer, the Orb=C3=A1n admin= istration said it had (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QW= fV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRFl5n4LbW5BWr2F6lZ3pcW76zKzs= 24PH4rW6b89js3Y-FDvW749hT62pVymGW9d87v25Vy6qDW6h91hB6gvJzpW7cCLPW5rTxtXW5f7= Jnv7XQJ54W3pTNm215zJT8W2XmFXk3N2JRlW95RGyT5bYBTHW7Bz4Bt58Y_YfW1yt3QF4Jq1N8W= 6HwmC41FJr92W9bKx4z2vkskYW1J4YGQ65qwcdW2dT1-23qgWTPW2_gHZd87THJMW34d7bF2rdy= BZVh9Kk27Qvc32W1T6M-z6L9h7BV-01mM5JWJlxN918sDbhJN8MVNk1rG97H0MvW6sPzyN2-qFr= bW2ydYYW8-Fnb0N6yTgCkdf3P3W1-3BFZ7sW84JW8Gv8C17Jjv-XW5F5n2t7zpC-dW3PyDR234Z= BbcN8svymCz_xhNN6LsVZyMqwm9W7Z5mMX2_qGlJW5FX7mp4rFMx8f8zVBdn04 ) , as a res= ult of its chummy relationship with the Trump administration, persuaded Was= hington to exempt Paks II from U.S. sanctions. The project=E2=80=99s fate u= nder a Magyar government is uncertain, though at least one expert I spoke t= o on Sunday afternoon suggested the new prime minister may seek to renegoti= ate the deal with Rosatom to provide for more EU oversight or better terms.= Canceling Paks II, which would significantly bolster the grid in a country= already reliant on nuclear power for nearly half its electricity, seems un= likely at this point. Meanwhile, Russia is getting some new competition from a European rival. Un= til recently, Rosatom was the only foreign company willing to invest in nuc= lear reactors in India, where a civil liability law passed in 2010 threaten= ed to bankrupt developers if any accident occurred. In December, as I repor= ted to you at the time (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2Q= WfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRGd3pyd0W7lCdLW6lZ3ndW8TR_H= -42mf3JW91HJvW5Rdc9qW8YHDJs1g_qzgW77NT-w6d87sHW1yq_n220B1-nW3nJ7qV11-zBRN2v= KYDxSB8k3W8gjFWf2hT7v8W5GRbsk5wqYlxW1qmRh77X73DvW9dMhh03PxzFSW7LvDpB6Xm0QbW= 796-kX8DlZPNN3Q4KJQzy_jRW1qvFFy8WpdmYW5JZL-d1mz7gwW7xvV0t6HNp0kW94RfJ477M1w= JW5ghhZS60112CW6FbCQB7wCwz-W3Ljsyz5q1kzhN6k7HPn2Zx8RW8lk5hD4mDFdzVzHLhS10jB= L_f6k6fPW04 ) , India passed legislation reforming the statute in a bid to = attract more overseas investments into its growing atomic power sector. It= =E2=80=99s working. The U.S. nuclear heavyweight Holtec International, whic= h is attempting to build its 300-megawatt small modular reactors in Michiga= n, has expressed interest (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/= d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRGd3pyd0W7lCdLW6lZ3nCMBw= N3mwgMJGN7g224WtrvYKW7z-6l14hZj-mW5HbDTd8tkK4HW8mBdk_5DYWcRW1YTvH63JKfjsW6w= w6zD3rgjgXW1p2GS65Jtw2fVJMyqw93qwV1W4xM3dK3dpQnmW56RsKk8GlQ9WW3mkbdM2CgtkNW= 4cBL8B68mm2gW2xp2lt47_W0vW14t_M-6vmsDMVRG6GN25zlXQW5Vn9gH4sdlWJW7Vzzkc8w8yx= wW7zXpvg51R80NM13lrqDhL1mN41tQ-pk0KfkW5ChDny1dw7X7W2K_lFs8Q8HC1W1FpG5R41pY_= 9f1vLfnd04 ) . Now the French nuclear giant EDF is exploring potential proj= ects in the world=E2=80=99s most populous nation, World Nuclear News (https= ://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-= ZgW7Kkhd55MQRgNN8_nRF25n4LbW50kH_H6lZ3nBW7S9cQb4XxX9vN2Bw2_KZJV05W3nFbmL2sj= CMhW5X43hB5VNqPkW4vM4qJ3rwV4JV14bpB6DY8tXW3gfDXt1QLs1XW6Tl4Nh9bDT4FV16S9V3K= 9SqJW5PHJtq8YZxKxV1q5dD3bFBVPW6pJzrk4_3vjBW5xK3wL7ZKqxZW93lL991hkYH-W6vXRfQ= 4TZNx8N3ksLDpbqCmHW2JhkZl1X-57gW26sz3j4Cfh2JW3FRZ6s5CX85rW6khnBQ1t6f1tV6fL_= H2FTFwbW6H7G7C4SkVPlW2nmc7z4g0LDFW6fSTnJ5WmWR0W5jT5qv5YPtvZW2R2lt16pDl-7W46= YB7w8x0hLfW2G3_bJ6ygwcTW18WSnC1LmCyVW2YzK_d43zly3N6-RcNt-hhBWW6fFStM6RQ39yf= 1T5nzH04 ) reported last week. In another bullish sign, regulators in South= Korea, the democratic world=E2=80=99s most competent reactor builder, just= approved (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VVw5XL7= mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRH63pyd0W95jsWP6lZ3nTVGdfH_5Kp7ZyW8PsG1Q= 3rJ4yPW1ndLv-7FGqBfW3glXxs5VSK4fN4zg1pDbkkN_W1RWd1c2_kY7JW6N-2d74gbyk_W3__2= x892c_FTW8ydHBp1TlHtwVGhvrB3wfZN1W5KxZj96rKng5W94WP9f3XmzZjW6S0-lh4cFqcmW5v= lcKG2_-F9ZW1JDQ563Pn0NkW1j1j-s5ScT8gW6gqfr03RPX14W1x-q7h2KWT3BW8Vsc7_4NWGrm= W1LX5Sw52MjKkVc2T9d8ZC0GhW1SC4z485XtY0N8w7N-K73yvJW71z2wZ90wKyVW2rnGwv198Y1= mW38wyf-2J1wbRW8c1q_Q79cfd6VX7HFr1xlGwSW6kplNd36BKghW7qn7pR4X_cW4f6TV2kv04 = ) the country=E2=80=99s latest plant to start up. 3. Argentina overhauls glacier protection law, clearing the way for mining Argentina=E2=80=99s right-wing President Javier Milei notched a major legis= lative win last week after lawmakers in the lower house of the country=E2= =80=99s legislature approved an overhaul of a landmark glacier protection l= aw in a 137-to-11 vote. The victory opens =E2=80=9Cthe door to mining near = some of South America=E2=80=99s most important freshwater reserves,=E2=80= =9D the Financial Times (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2= QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRGR3pyd0W8wLKSR6lZ3mfW5wgG= 0j3zp4GDW1SsL0222XDblW7YvlK73PRFDWW671Rd43ryZBSV8hG3F4mscW2Vr2vNS7KC6d1W4x5= Stj5Q-vHsW2BFxSC2yQmr8W6_XZxD2fJFx3W4hw3Z933LJB6W444-XL2bcTHVW1NwQfy22zd5KW= 5VMYt724cm49W8RH1pY64SfDjV5B1tF2nwmWwW7YKwhZ6QpSYVW7ZChpK5148mlW8-zWXH3N8_v= 4W6J6T_v8kMpYBW8G-Lg45nBRrnW8QlLLT6F8vr1MdKctcwQRL7W7SDs_l43gTVGW59MGxD5DT8= zdW58kb_g6F784tW3yqvQN7P3BBqN2tn9x4PqWCpN3mhjYtbFPTvd9d9H-04 ) reported, by= giving provincial authorities greater discretion to determine which glacia= l areas warrant protection. The bill already passed in the Argentinian Sena= te, meaning Milei only needs to sign the legislation. He=E2=80=99s expected= to do so. Milei pitched the bill as a way to free up areas =E2=80=9Cincorr= ectly classified as glaciers=E2=80=9D to mineral extraction as his governme= nt seeks to tap Argentina=E2=80=99s rich lithium resources. But critics are= n=E2=80=99t so sure. =E2=80=9CThis will not give investors the legal certai= nty they are looking for,=E2=80=9D Andr=C3=A9s N=C3=A1poli, executive direc= tor of the Environment and Natural Resources Foundation, told the newspaper= . Milei signed (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VVw5= XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRH63pyd0W95jsWP6lZ3p0W2tV2xc9jzNV0W19= HJcF4Qx5GsN4vL_b48nl-YW79NXrj8x8JX2W8X4srv28QXB-V43Jdx6TVTl0W4kVH7k2vzg38Vm= 8RsD5QNyPyW4n4jS71tQHN-W5ZGyCz4vw3YpW8YC3BS95-S2-W3ttMwJ5DMCGcW28zdXm7_mdyZ= W6GtY0Q8gbnJ4W497FD55Ps2JnW2ZFjlB7ftbl6W3qh9ww826x4dW3nB6TV17qHD_V_mkLF51dY= 7KW8_mDC68dRgrTW388BdJ1QMLS-W49HZ849fC2dVW8xqqC13TmH20Mr6T22RX7qMN7Kjvz7xXq= 2QW6gpn5v7lWGcvVg9Bp75qjJdQW50D6Wx1RJyRpW8XTsH55Fv3DLW8QDvJ91Y-lM9f8nrn3K04= ) a critical minerals pact with the U.S. in February as the Trump administ= ration looks to secure non-Chinese supplies of key metals. 4. Sam Altman=E2=80=99s house hit with a Molotov cocktail as violent opposi= tion to data centers mounts Maybe the attacker was angry about data centers. Maybe the assailant took i= ssue with OpenAI itself, or the way Sam Altman =E2=80=94 a lightning rod fi= gure in the American tech industry and the subject of a recent investigatio= n in The New Yorker (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV= 04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRF25n4LbW50kH_H6lZ3pZW8xj90t7h= 7S8rW7bW5wr62xpKqW71ND-P4KF8fsW4YRwH87BY8lfW6Y5DPQ6HV30lW7PckXN3vCl8cW8lr-k= y3d_k-SW4cctBd19sSn1W1kfRGV57_1BJVRd2sg2Cvd6xN7XlYCLZ_BM6W1SCmZf10Q80gN5Vn_= mt3rXXzW54zpXY51NqsvW3x3mmJ4RB_8sN50r2rbdg6PzW1z8ll619_3wcW1LZWQf7Qw-t0W2Q3= Ljf7cSRcrW1mVBJr3mKwQMW6ds7F7861bcnW2BkgNZ71_5XwV7X4X23fXgcVW5SCJpc32PjmdW7= 8snbP3zLgj6N5_MmZw17QJsW8DR0bc54qt_pW7xwgcG4Bs1zgV8jkJm3CwBFbW1SdS6Q32GNzvW= 81NnKJ8YN1Y1W8cGC8m5vY-NZf4tLgqR04 ) that raised questions about a uniquely= powerful executive=E2=80=99s judgment =E2=80=94 operates. Maybe the man wh= o threw a Molotov cocktail at Altman=E2=80=99s San Francisco home on Friday= was just compelled by illness or altered brain chemistry to act out violen= tly against a public figure who=E2=80=99s been unmissable in the media. But= the fact that the incident occurred less than a week after a gunman fired = bullets (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VVw5XL7mz= vGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRGd3pyd0W7lCdLW6lZ3pqW1MVVTf3n0n44W61ThMS7= Xtm3-W1rRLC79jx8YxW8WWHc57Gl8RfW3P04hb62VfQ0W7NYLfv7ffq3-W3dTQxd5pZ_fFN52g8= v7Cg3JmW8j8Tyc5x1H6NN1vdzJlb5b6yW5Rg9n46W0wPzN6z83V0jK4BsVY5gKF1ZdMw6W25zJh= P629KzSW6d3Zs_4KqmP2N8_6QLVcp0FpW1cfN506-chvPW2CNrxM28dnXRW7QBvv-4rhnwkVC-d= NV2zRslhW6xmR8y8g48MBW2rjgx25TRFbDVHTMxG3km760W54c6sr4vbp5Tf6BGL1q04 ) into= the home of an Indianapolis city councilmember who spoke out in support of= a data center project does appear to be part of a worrying trend of violen= ce. As Heatmap=E2=80=99s Jael Holzman wrote last week (https://d2QWfV04.na1= .hubspotlinks.com/Ctc/X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgN= N8_nRH63pyd0W95jsWP6lZ3lfW8hf4_W80-Y0TN34KXJh-prCZW5jfmnc5sBdkfW82qk834Px7j= jW12nwwg3xXvTzN5T8SHQyq3h5W8xpF0Z2GddSfW555N032K1Y8LW9clF8F6kt7rnW8mQW3B6tS= yKDW1zx-Cc2WM_shW7q6gQG4x06JzW8lztGl4tMb9CW1-DwWQ3_PbBgN1xM7HdKkQPxW4MPDw53= x6HT8N8zqchqLg4mBW4S9KfF6RS_VLW5lLQwL68SxqjW6FPPfV2bLHrLW423XTf1pRxMYW2-349= j5j1PfGW2HT6Kq35fzQcW3ttqMH4JtRs2V_DMD93dwlL5Vx-Kc432fslKMnbZ4_PpZ3VW7B6Pc_= 4Df46YVZT1wB3JQshHW5Y2fhl6V5jNZf4S1ZdH04 ) , the Indianapolis shooting, in = which (thankfully) the lawmaker and his young son were not hurt, was the th= ird such incident this year, =E2=80=9Cindicating the bubbling angst against= data centers really does have potential to turn violent.=E2=80=9D In a post (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VVw5XL7= mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRGd3pyd0W7lCdLW6lZ3lzW1-XhMF2BmZwRW4HK-S= q198tGtW8HgWzH185PTDW3Fnjgw2lXr_WVqPbZP27rj7_W7R55vN57sZHNVrzz5s6rWG-CW1rq0= Sw1rR4bkW7VcTXb57Tr73VGB__D35B125W5l-8RV8WYJq7W2hwYrB8rQ4CHW4X_C9Y8XDKQyW4p= yPs53y6YV6W1wl1Mc3RwyRZW6q08fp2rjWz2W4dY3B27pBgl4W87pQw850YBnxW7HRCfc6XnRL0= N2q_G329VYdWN1FGc9jsC8Y9W3HzH6b7BHrBnV92qv23Mx6rKW7BmdXW2bf7K-f3YJncK04 ) o= n his personal blog, Altman shared a photo of his husband, Oliver Mulherin,= and their 1-year-old son and said he had =E2=80=9Cunderestimated the power= of words and narratives=E2=80=9D amid what he admitted was an =E2=80=9Cext= remely intense, chaotic, and high-pressure few years in the artificial inte= lligence industry. =E2=80=9CA lot of the criticism of our industry comes fr= om sincere concern about the incredibly high stakes of this technology. Thi= s is quite valid, and we welcome good-faith criticism and debate,=E2=80=9D = Altman wrote. =E2=80=9CI empathize with anti-technology sentiments and clea= rly technology isn=E2=80=99t always good for everyone. But overall, I belie= ve technological progress can make the future unbelievably good, for your f= amily and mine.=E2=80=9D 5. Battery recycler Ascend Elements will file for bankruptcy Battery recycling startup Ascend Elements will file for bankruptcy this Thu= rsday, according to Bloomberg (https://d2QWfV04.na1.hubspotlinks.com/Ctc/X+= 113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQRgNN8_nRFF9k9LzW69v02T6lZ3k= PW8N5xMQ1Vs2HBW2T5Scl8GzScRW6L6R7R6S1r_bW523r0g6HR1JbW3cfVQk1h02smW4YhhCt10= 5xpcW7wJwlW1htWrbW5KFt6F525BxZW279QY73xB5XhW1brrys2KK6X9W89w2Vm42tYQNW280tK= P52l_kWW2fpVlN2YT_63W1dhPDl3ZPpWdW2cl0HC4YYztkW8dKwD13xgdGyW6KKwMb3MlWTKW26= SF968NcFSLW6CcKQz3WY7D9W1CQpjc2wn_SvW3fsWJ-63zDhkW7lMHZc7SYnVVW4LMs_V5DgNvx= VWyTmG6rMqgpW1vg5nj7JVpj4VyjWKz2XZXdyW7662D240g3YhN7XLy8kWslfVW7_P3xy5ffT2l= W7P9sVg66McLbW4v1mdv5JgxmZW97rR5k3VsRb7W8cg6hW2DbGshW2DGJww6Ll0DjW3n9Dw16sm= NdtW8TFjdg3MYf5bW7Zmy9v7g7BD1Vlk4Dc6QvTc-W4vB5HV2kCmfsW1LMJpC7bJ5mLN79whQgP= wTkCW2xjpkM7SJKt6W6Sfnfh2SF958W46RpM0112h1fW45hmPV25LbfhW4YDc_t7_GwWsW6sCHX= m2SBs0yN4ZShjJJWHhlW3s83711zR6X9W3wRqYH5t7frBW8TcWZD56HFkwW7PCsMq4wyVK8N7Wv= rZzk8QklN7j_dXWNZvBxW65sFWW4skG_qTxKsy2x4rWpW8cXhvz2BM0PPW939h8j50BRg8V4MV5= z7LQ4PmW1y4hsr6bB5JxW80KMPR4mTL51W2Wsxmz293xD1Vv_L6C5k3xDDW6LqVt75b0yFXW6DQ= X3M7Xdg1xW2ncYwV1HPKR8V5X9Wc4SxH7nW6PcCw94JKgg_f1M_fgC04 ) . The Massachuse= tts-based company raised more than $1.1 billion in equity and grants over t= he past 11 years as it sought to build out production from its factory repr= ocessing old batteries into cathode material in Georgia. But =E2=80=9Cthe f= inancial difficulties were insurmountable,=E2=80=9D the company said. THE KICKER Last summer, I told you about an abandoned green hydrogen project in Austra= lia amid a spate of cancellations worldwide. But now a new 1.5-gigawatt pro= ject, the Murchison Green Hydrogen facility in Western Australia, has been = selected for a fast-track approval under the national government=E2=80=99s = new pilot program to speed up permitting, according to Hydrogen Insight (ht= tps://d2QWfV04.na1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3= w1-ZgW7Kkhd55MQRgNN8_nRGd5n4LbW7lCGcx6lZ3ngW7FhyJz1bdQTBW11TYj_7Ft98kW67sgm= C88Vg4fW7XRdly9gtHqJW4JtJ0x85Wg8VW5xRrK32ZP_NBW2tLVh63hpv5-W2x8DLZ2brRD8W13= -VnS5xKPfJW2wKzJb4-dqZQW6GKRCm1tGTd6W1w6yDT75TVjrW9gwxGp4j5mPgW3C059Q4WztFF= W4mV3nJ659PN_W1-wccp4JH3TXW7nkz0d8982hPVKBWg550H1q7W4hNzfy1q89v8W1_KX_B81QM= 3qW7FTNQ28_ccCVW2lrRKq2HvhDJW4hmksT3s4vVyW47pkLL5C1WrnW5GMN-n3C2kg3W5gKjcW8= 30MNQW4wj3-38ZQC2-W737vvS3txMzFN4MtnRTqzvF5M-WQzdxsDWLW31JwMx2gszkcW4_rk6R4= F7qMrVXS__j12vpnpW8ZnSCz5nh9xdN3q08KGsvFyvW6lZSss1VYXhbN1SvmfmGHt77W2VQQ_m2= BqxyrW6xcj7J6841LlN7zpbBR-9NBFf8LCvG604 ) . The program (https://d2QWfV04.n= a1.hubspotlinks.com/Ctc/X+113/d2QWfV04/VVw5XL7mzvGqW335F_Z3w1-ZgW7Kkhd55MQR= gNN8_nRFl5n4LbW5BWr2F6lZ3lfW8MkBfm7DqfqkW5fhckM5LxXJDW6z9V6T4K5S4dV6KNd92Fh= tFqW4VK4sR5SCfnFVYrL7p4mBYKDW3NlBDw7t5YSmW1K9rhq4rWxVvW4t9Ry51tWRTVW5Y1dNl3= kwrr_W40lTSg4ZdLqyW46_Xvf4fRXscW6zkC518dRGXSW4kkpZX3H7bS2W5gCsGM945pPFW5kff= zT51hYx0W52hz0T3bT2XQW18pNV25Q41_dW7sdCJ61f8Hb1W83fdpf3bYTszW4W04Tg3PsGdRW2= XgTzy1SCwKmW2pQ55N54d2K3W3QrYph6nDHdFW2Cm8yK1-rF2wW6q3nKJ7plHRbW3X9g7v2mdFc= xW8gl17Q4b8bqPW1wRmvM6xz-dDW6DPFBv1nJ46jW86VTjT1-H952W3Qls7X1Bng0ZVvRBc41tS= qV3W4g16nQ8Rk6m0f7vN-7z04 ) is reserved for projects of =E2=80=9Cnational s= ignificance.=E2=80=9D Opportunities Group & Gift Subscriptions Interested in discounted group subscriptions for your company, university, = or organization? 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On Hungary=E2=80=99s political earthquake, mining in Argentin= a, and the Sam Altman attack=E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F= =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87= =CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2= =80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD= =8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80= =87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F = =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87= =CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2= =80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD= =8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80= =87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F = =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87= =CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2= =80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD= =8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80= =87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F = =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87= =CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2= =80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD= =8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80= =87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F = =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87= =CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2= =80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD= =8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80= =87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F =E2=80=87=CD=8F = =E2=80=87=CD=8F =E2=80=87=CD=8F =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD = =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2= =AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD = =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2= =AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD = =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2= =AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD = =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2= =AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD = =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2= =AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD = =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2= =AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD = =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2= =AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD = =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2= =AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD = =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2= =AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD =C2=AD &= nbsp;
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ALEXANDER C. KAUFMAN =E2=80=A2 APRIL 13,&= nbsp;2026

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Current conditions: A storm corridor is set to pummel a swath of the United States fr= om the Plains to Great Lakes for the next days =E2=80=A2 Super Typhoon Sinl= aku is barreling toward Guam, where it is poised to make landfall as the eq= uivalent of a Category 5 hurricane, while to the south Cyclone Vaianu force= s hundreds of evacuations on New Zealand=E2=80=99s North Island =E2=80=A2 S= anto Domingo, the Dominican Republic=E2=80=99s sprawling capital, is facing= days of intense thunderstorms as floods displace cars in the Caribbean=E2= =80=99s largest city.

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THE TOP FIVE

 

1. Trump threatens = to blockade the Strait of Hormuz as Iran talks collapse

<= /div>

Contrary to popular parlance, the Strait of H= ormuz hasn=E2=80=99t been closed these past few weeks. It=E2=80=99s just be= en closed to any cargo not approved by the Iranian government. As I told you last week, a Wall Str= eet analyst who went on a Gonzo reporting mission armed with Cuban cigars a= nd packets of Zyn nicotine pouches to the Persian Gulf chokepoint concluded= that billions of dollars of goods were passing through the waterway, but o= nly on Iranian-flagged ships or Chinese vessels enjoying the benefits of po= litical alignment with the Islamic Republic. After talks this weekend faile= d to reach a deal to fully reopen the Strait of Hormuz, the United States i= s planning a naval blockade to prevent any ships from passing and subject T= ehran to the same pressure Washington is facing from the closure. That=E2= =80=99s what President Donald Trump announced Sunday in a series of pos= ts on Truth Social. In a reversal of last week=E2=80=99s ceasefire deal, Tr= ump said the U.S. would =E2=80=9Cinterdict every vessel=E2=80=9D in interna= tional waters that passed through the Strait of Hormuz after paying Iran a = toll, calling such a levy =E2=80=9Cillegal=E2=80=9D and =E2=80=9Cworld exto= rtion.=E2=80=9D 

 

Oil prices spiked again in response to the pr= esident=E2=80=99s announcement. Already, as Heatmap=E2=80=99s Robinson Meyer reported last week, the wa= r has cost Americans $17 billion at the pump. And even with the ceasefire i= n place, the end of the energy shock looked hazy at best, analyst Rory John= ston said on the most recent episode of the Heatmap podcast Shift Key. =

2. Viktor Orb= =C3=A1n=E2=80=99s defeat in Hungary could disrupt the country=E2=80=99s big= nuclear project

3D"GettyImages-2260060027"

The Russian and Hungarian flags fly s= ide by side at the Paks II building site. Photo: Janos Kummer/Getty Im= ages

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For nea= rly two decades, Viktor Orb=C3=A1n ruled over Hungary with an increasingly = tight-gripped fist, maintaining the closest relationship between Russia and= any NATO country and providing what=E2=80=99s widely considered a blueprin= t for the West=E2=80=99s illiberal right to reduce checks on the power of t= he ruling party in a democracy. In February, his government oversaw the official start of construction on Paks II, a major new= nuclear project Hungary hired the Russian state-owned Rosatom to build. No= w Orb=C3=A1n=E2=80=99s 16-year tenure is coming to an end after rival conse= rvative P=C3=A9ter Magyar won Sunday=E2=80=99s election in a landslide. Dur= ing the heated campaign, which saw Vice President JD Vance visit Hungary to= campaign on Orb=C3=A1n=E2=80=99s behalf in the closing days, Magyar depict= ed the incumbent right-wing ruler as a corrupt authoritarian selling out th= e country to its former Soviet imperial rulers in Moscow and vowed to rebui= ld Budapest=E2=80=99s ties with the European Union and NATO. That could spe= ll trouble for Paks II. The project has stood out as the Kremlin=E2=80=99s = last new commercial foothold in the West=E2=80=99s nuclear industry. At the= start of the Ukraine war in 2022, Finland canceled a domestic joint ventur= e with Rosatom. The U.S. nuclear giant Westinghouse, meanwhile, has cut dea= l after deal to supply Russian-made VVER reactors in Slovakia and Bulgaria with America-made fuel a= ssemblies. Last summer, the Orb=C3=A1n administration said it had, as a result of its chummy relationship with the Trump ad= ministration, persuaded Washington to exempt Paks II from U.S. sanctions.&n= bsp;The project=E2=80=99s fate under a Magyar government is uncertain, thou= gh at least one expert I spoke to on Sunday afternoon suggested the new pri= me minister may seek to renegotiate the deal with Rosatom to provide for mo= re EU oversight or better terms. Canceling Paks II, which would significant= ly bolster the grid in a country already reliant on nuclear power for nearl= y half its electricity, seems unlikely at this point. 

 

Meanwhile, Russia is getting some new competi= tion from a European rival. Until recently, Rosatom was the only foreign co= mpany willing to invest in nuclear reactors in India, where a civil liabili= ty law passed in 2010 threatened to bankrupt developers if any accident occ= urred. In December, as I repo= rted to you at the time, India passed legislation reforming the statute= in a bid to attract more overseas investments into its growing atomic powe= r sector. It=E2=80=99s working. The U.S. nuclear heavyweight Holtec Interna= tional, which is attempting to build its 300-megawatt small modular reactor= s in Michigan, has expressed inte= rest. Now the French nuclear giant EDF is exploring potential projects = in the world=E2=80=99s most populous nation, World Nuclear News reported last week. In another= bullish sign, regulators in South Korea, the democratic world=E2=80=99s mo= st competent reactor builder, just approved the countr= y=E2=80=99s latest plant to start up.  
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3. Argentina overhauls glacier protection law, clea= ring the way for mining

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Argentina=E2=80=99s right-wing President Javi= er Milei notched a major legislative win last week after lawmakers in the l= ower house of the country=E2=80=99s legislature approved an overhaul of a l= andmark glacier protection law in a 137-to-11 vote. The victory opens =E2= =80=9Cthe door to mining near some of South America=E2=80=99s most importan= t freshwater reserves,=E2=80=9D the Financial Tim= es reported, by giving provincial authorities greater discretion t= o determine which glacial areas warrant protection. The bill already passed= in the Argentinian Senate, meaning Milei only needs to sign the legislatio= n. He=E2=80=99s expected to do so. Milei pitched the bill as a way to free = up areas =E2=80=9Cincorrectly classified as glaciers=E2=80=9D to mineral ex= traction as his government seeks to tap Argentina=E2=80=99s rich lithium re= sources. But critics aren=E2=80=99t so sure. =E2=80=9CThis will not give in= vestors the legal certainty they are looking for,=E2=80=9D Andr=C3=A9s N=C3= =A1poli, executive director of the Environment and Natural Resources Founda= tion, told the newspaper. 

 

Milei signed a critical minerals pact with the U.S. in February as the = Trump administration looks to secure non-Chinese supplies of key metals.&nb= sp;

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4. Sam Altman=E2=80=99s house hit with a Molotov cocktail as violen= t opposition to data centers mounts

Maybe the attacker was angry about = data centers. Maybe the assailant took issue with OpenAI itself, or the way= Sam Altman =E2=80=94 a lightning rod figure in the American tech industry = and the subject of a recent investigation in The New Yorker that raised questions ab= out a uniquely powerful executive=E2=80=99s judgment =E2=80=94 operates. Ma= ybe the man who threw a Molotov cocktail at Altman=E2=80=99s San Francisco = home on Friday was just compelled by illness or altered brain chemistr= y to act out violently against a public figure who=E2=80=99s been unmissabl= e in the media. But the fact that the incident occurred less than a week af= ter a gunman fired bullets into the home of an Indianapolis city councilmember = who spoke out in support of a data center project does appear to be part of= a worrying trend of violence. As Heatmap=E2=80=99s Jael Holzman wrote last week, the Indianapolis = shooting, in which (thankfully) the lawmaker and his young son were not hur= t, was the third such incident this year, =E2=80=9Cindicating the bubbling = angst against data centers really does have potential to turn violent.=E2= =80=9D 


In a post on his = personal blog, Altman shared a photo of his husband, Oliver Mulherin, and t= heir 1-year-old son and said he had =E2=80=9Cunderestimated the power of wo= rds and narratives=E2=80=9D amid what he admitted was an =E2=80=9Cextremely= intense, chaotic, and high-pressure few years in the artificial intelligen= ce industry. =E2=80=9CA lot of the criticism of our industry comes from sin= cere concern about the incredibly high stakes of this technology. This is q= uite valid, and we welcome good-faith criticism and debate,=E2=80=9D Altman= wrote. =E2=80=9CI empathize with anti-technology sentiments and clearly te= chnology isn=E2=80=99t always good for everyone. But overall, I believe tec= hnological progress can make the future unbelievably good, for your family = and mine.=E2=80=9D

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5. Battery recycler Ascend Elements will file for b= ankruptcy 

Battery recycling startup Ascend Elements wil= l file for bankruptcy this Thursday, according to Bloomberg. The Massachusetts-based company raised more than $1.1 billion in equ= ity and grants over the past 11 years as it sought to build out production = from its factory reprocessing old batteries into cathode material in Georgi= a. But =E2=80=9Cthe financial difficulties were insurmountable,=E2=80=9D th= e company said. 

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THE KICKER

Last summer, I told you about an abandoned gr= een hydrogen project in Australia amid a spate of cancellations worldwide. = But now a new 1.5-gigawatt project, the Murchison Green Hydrogen fa= cility in Western Australia, has been selected for a fast-track approval un= der the national government=E2=80=99s new pilot program to speed up permitt= ing, according to Hydrogen Insight. The program is reserved for projects of =E2=80=9Cnational s= ignificance.=E2=80=9D 

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Opportunities

 

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We=E2=80=99re bringing Heatmap House to San Francisco Climate Week in= April. Contact Heatmap=E2=80=99s Mike Munsell (mike@heatmap.news) to l= earn about all of our upcoming events, as well as other advertising and spo= nsorship opportunities.

 

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