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A June geothermal lease sale held in New Mexico by the Bureau of Land Management netted more than $16.5 million, making it the second-highest-grossing sale in BLM history, while the top bid set a federal record of $701 per acre.

Forty-seven parcels sold at an average of $107 per acre, more than triple the $32 per acre average recorded in Nevada’s October 2025 sale, according to Enverus Intelligence Research. Only 17% of parcels sold at the $2-per-acre minimum bid, down from 76% in 2019, as competition increased for geothermal sites with stronger development potential, EIR said.

Read more in Utility Dive here.

Last week, the Trump Administration announced more than $2 billion in new federal money for battery and critical minerals companies. The largest piece was a $1.4 billion loan to the silicon-anode battery maker Sila Nanotechnologies, alongside smaller deals for a scandium mine, a rare-earth-free magnet maker, a direct government ownership stake in a bauxite company, and grants for mining schools. It is the latest in a long series of federal investments; by the administration’s own count, it has signed or approved minerals deals worth nearly $40 billion since taking office.

>>>READ: Before a Critical Minerals Price Floor, Remove Self-Imposed Barriers

These actions rest on a genuinely bipartisan worry over the concentration of supply chains for minerals crucial to modern energy, computing, and defense technologies. Globalization and the pursuit of economic efficiency drove specialization, which has concentrated many supply chains. Mining and refining face an elevated risk of disruption because new capacity takes years or decades to build and markets are therefore slow to adapt. The concern is further heightened by the fact that several chokepoints are in countries prone to instability or hostile to the U.S. China, in particular, which dominates the mining and processing of many key minerals, has recently restricted exports in response to U.S. trade controls and sanctions on Chinese firms.

The risks posed by this concentration are worth taking seriously. The problem is that these tools may force taxpayers to take on unnecessary risk—leaving them stuck with the bill if the companies fail—without addressing the underlying problem. And more broadly, it is not clear that these investments, or the further government actions proposed, are being properly weighed against the true threat posed by supply-chain concentration.

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Equity stakes and loans may seem better than direct subsidies because, in theory, loans are repaid, and government ownership means taxpayers share in the gains if a company succeeds. In practice, these mechanisms socialize the risk, often in exactly the cases where private investors judged the returns not worth it. And the firms that declined to finance these ventures had incentives that were aligned with getting the answer right. Government officials do not, and their real objective is more than likely political gain, such as jobs in certain districts, handouts to connected firms, or the appearance of action on a salient issue, rather than a good return on their investment. At worst, politically motivated deals open the door to corruption, or at least its perception.

Government has no special talent for picking winners, and strong reasons to pick worse than investors who are putting their own money on the line. And once the government is an investor or owner, it also has a political incentive to prop up failing firms rather than cut its losses.

A potential rejoinder is that government needs to “de-risk” certain investments to correct a market failure. In this case, the markets are underweighting the danger of relying on a single hostile supplier. The argument is that if returns are too low for private capital to bear the risk, then private financing won’t exist, and the government can step in to shoulder some of the risk and unlock the social benefits of supply chain resilience. But this assumes government can identify the true value of supply-chain reliability better than private firms can, and there is no reason to think it can. It is also plausible that markets are actually overvaluing resilience, in which case government efforts to subsidize diversification would themselves be economically inefficient.

>>>READ: Critical Minerals Policy Needs Clear Guardrails

Even granting a role for government, singling out individual companies is the wrong policy tool. It rewards firms with the best lobbyists rather than the best prospects, leaving the underlying systemic problems untouched. A broader tool, such as a price floor or an across-the-board production subsidy, would at least allow the strongest producers to rise on their merits rather than concentrating government support on a small number of firms and undermining competition. But it would also be far more expensive and far more distorting.

All of this should be measured against the thing it’s meant to prevent: the cost of an actual disruption. That cost is hard to pin down, but the government’s own estimates are telling. By the U.S. Geological Survey’s accounting, even the highest-risk minerals, such as samarium, with a probability-weighted damage of $4.5 billion, would cause damage that is small relative to a roughly $30 trillion economy.

That is real harm, and there are additional national security questions that are difficult to put in economic terms. But before blindly jumping into government investments and broad policy tools that will raise consumer costs and put taxpayers on the hook, there should be a serious accounting of whether these programs are worth the cost. In the meantime, policymakers should avoid interventions that entail significant risks and high costs in favor of removing existing constraints, such as trade barriers, permitting requirements, and other regulatory obstacles.

TRISO-X has extended its research and development agreement with Oak Ridge National Laboratory (ORNL) by 30 months. The two organizations have worked together since 2016. Their joint effort centers on improving the chemical engineering methods used to manufacture tri-structural isotropic (TRISO) nuclear fuel.

“ORNL has been a critical partner in transforming years of TRISO fuel research into commercial manufacturing capability,” said Joel Duling, President of TRISO-X.

Read more in Interesting Engineering here.

The US attempt to shift away from dependence on China for lithium, critical for batteries in electric vehicles and smartphones, has seen the Trump administration invest in Lithium Americas’ $3 billion Thacker Pass mine in Nevada. The renewed interest in developing the metal domestically has resulted in about 115 proposed mines popping up across the country.

But growing water scarcity in the western US as climate change takes effect could undercut lithium production, Northwestern University researchers said in a report.

Water scarcity has become a rising political, legal and financial obstacle as America races to build a domestic lithium industry, US researchers say, increasing the stakes on efforts to lessen its reliance on China.

Read more in Financial Times here.

Over the past few weeks, smoky skies have spread across the United States and Canada. From the Canadian fires that pushed the Northeast and Great Lakes air quality to dangerous levels last month to the fires burning in the Northwest today, there seems to be no end in sight. The need to reduce fire risk is apparent, and we know how to do so through active forest management. Yet policy continues to slow those efforts down and that urgently needs to change.

>>>READ: America’s Wildfire Economics Are Backwards

In fact, one of the most effective ways to limit fire severity is through hazardous fuel reduction. A UC Davis study found that treatments such as prescribed burns and mechanical thinning reduced total burn area by 36 percent, prevented the loss of 4,000 buildings, and avoided almost 3 million tons of CO2 emissions. 

Reducing wildfire emissions has to be part of any serious climate strategy because even one bad fire season can wipe out decades of climate progress for states. 

For too long, regulations under the Clean Air Act have penalized states for smoke from prescribed fires used to reduce wildfire risk, while excusing wildfire emissions. The Clean Air Act’s exceptional events classification allows states to exclude wildfire smoke from federal air quality standards because those emissions are considered beyond their control. Ironically, smoke from the tool that could prevent much larger wildfires–prescribed burns–is not exempt. Because exceeding CAA standards and falling into nonattainment could trigger additional permitting requirements, loss of funds, or restrictions on economic development, states are perversely incentivized to avoid fuel treatment. The EPA has attempted to amend this by allowing states to apply to exclude prescribed burns, but the process is burdensome and rarely successful. Both the Wildfire Emissions Prevention Act and the FIRE Act would reform this.

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For decades, the country has let critical prevention projects sit for years in the name of “environmental protection,” even as acres burn waiting to clear permitting statutes like the National Environmental Policy Act and the Endangered Species Act. These statues also leave projects subject to costly, time consuming litigation despite the Forest Service winning almost 80 percent of these cases. 

The Fix our Forests Act, which passed the House last January and advanced out of the Senate Committee in October, would largely address these permitting barriers. The bill would expand opportunities for active forest management and reduce the litigation burden that delays these projects for far too long. Expediting environmental permitting reviews and allowing more projects to move forward without years of analysis through categorical exclusions would help the Forest Service to manage more acres. According to the House Natural Resources Committee, over 117 million acres of forest across the country are overgrown and at risk of fire. Tools like the Good Neighbor Authority and Shared Stewardship can help tackle that massive backlog of acreage by encouraging states, localities, and tribes to take on more management work in the forests close to home.

>>>READ: Taking Action to Reduce Wildfire Risk

More recently, wildfire prevention efforts have fallen under the Trump administration despite funding levels remaining elevated. This could be, in part, due to a 6,000-worker reduction in the U.S. Forest Service. Additionally, Congress pulled back on annual appropriations for treatments because of increased funding under the Infrastructure Investment and Jobs Act and the Inflation Reduction Act, rather than taking it as an opportunity to amplify treatment. Increasing funding for fuel treatment would pay for itself 3 times over; the same UC Davis study found that each dollar spent on prevention saves about $3.75 in wildfire damages.

We also must consider where we are building and what we are building with. Nearly a third of U.S. housing is located in the Wildland-Urban Interface, where homes and development meet undeveloped wildlands. A 2016Nature Climate Change article predicted that future increases in human exposure to wildfires would be driven largely by population growth in fire-prone areas, rather than because of more acres burned. 

The recent fires in Spokane, Washington illustrate that point clearly. While the fires burned around only 10,000 acres, more than 800 structures were destroyed, and 65,000 people were evacuated. 

In WUI communities, “home hardening” with fire-resistant materials should be a priority in any new builds as well as upgrades. Part of the fix is simply not to build subsidized housing in the WUI. Insurance rates should properly convey the risk and incentivize homeowners to harden their homes, thereby reducing the risks, costs, and insurance premiums. Home hardening for new builds and retrofits is already cost-competitive; a Fall 2025 report from Headwaters Economics estimates that the construction cost premium is only 2-3% compared to traditional construction. 

Additionally, the designation of “fireshed management areas” under the Fix our Forest Act would expedite hazardous fuel treatments in the Wildland Urban Interface and ensure communities most at risk are prioritized.

Nationwide, over 6 million acres have burned this year, well over the 10-year average. It’s high time we begin managing our forests before they burn and remove policy barriers that stand in the way.

Dominion Energy will need to change its transmission cost allocation policy to directly assign the cost of certain transmission infrastructure to the new large-load facilities — such as data centers — which made that infrastructure necessary, the Virginia State Corporation Commission said in an order filed July 31.

The mandatory contribution in aid of construction, or CIAC, will apply to “direct connect” facilities, and apply to the cost of the substations and the transmission lines which connect those facilities to the grid.

Read more in Utility Dive here.

In April, incumbent utilities in MISO and SPP seized on grid strain from elevated electricty demand to make a remarkable ask. A coalition calling itself the Grid Acceleration Coalition — ITC, Ameren, American Transmission Company (ATC), Entergy, Evergy, Xcel and others — asked the Federal Energy Regulatory Commission to suspend competitive bidding for transmission projects across grid operators MISO and SPP for five years, or to let utilities bypass it project by project. It claims competitive solicitations add 16 to 20 months of delay that America cannot afford.

For years, many of these same utilities have waged — and overwhelmingly lost — a policy campaign in statehouses, pushing “right of first refusal” laws that hand incumbents every new regional transmission line without a contest.

Having failed to eliminate competition from the states, they now want FERC to do it.

Read more in Utility Dive here.

A startup that makes giant iron-air batteries that store enough power to last several days has raised a new round of funding valued at $750 million.

Form Energy, which has now raised more than $2 billion in total, plans to use the money to boost manufacturing at its Weirton, WV, plant and for its first wave of commercial projects, including a project for the utility Xcel Energy in partnership with Google.

Read more in the Wall Street Journal here.

America’s power grid is really a patchwork of regional grids, each with their own operators, with few high-capacity lines connecting them. This fragmentation comes at a real cost for customers, who are often unable to access cheaper power available just across a state or regional border. The Department of Energy’s recent National Transmission Needs Study identifies several of these cases, where regions’ electricity costs would decline substantially if they were connected by a high-capacity transmission line. Providing these benefits to consumers, however, requires confronting not just the incentives that discourage utilities from building interregional lines, but the state laws that let incumbent monopolies control who builds them.

Utilities earn profits by building new assets inside their service territory, so their financial incentive runs directly against non-locally isolated infrastructure. An interregional line threatens their model in two ways. A rival developer might win the right to build it, capturing revenue the utility would rather keep for itself. Alternatively, the line might successfully deliver cheaper power from elsewhere, which cuts into the utility’s own opportunities to build and bill for new assets.

>>>READ: Closing the Local Project Loophole: the Case for Competitive Transmission

The Federal Energy Regulatory Commission (FERC) has responded to this disincentive by mandating regional transmission planning, and Congress is now weighing how to extend that coordination across regions. Legislative proposals, including the BIG WIRES Act and parts of the Energy Permitting Reform Act (EPRA) of 2024, aim to coordinate planning across neighboring grids. 

Planning reform alone, however, ignores an equally pressing question about who gets to build these new lines. That question shows up today in laws across nearly a dozen states that threaten to undermine competitive construction of this infrastructure. These statutes grant each state’s utilities a right-of-first-refusal (ROFR), the right to build transmission in their territory before any other developer, even one that has already won a competitive solicitation. FERC stripped transmission owners of this right at the national level more than a decade ago to introduce competition, but utilities immediately asked states to restore the protections. Many utilities won these fights in state capitols across the country.

Yet, recent studies assessing competitive transmission against incumbent-built projects show how these laws hurt consumers. An analysis by the R Street Institute indicates that projects developed through competitive bidding were roughly 30 percent less expensive than comparable incumbent construction. Additionally, across the six FERC-regulated regions, they found that competitive projects’ median completion time was shorter in four of them. Absent competition, electric customers pay more and wait longer.

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The first-best answer is to repeal these state laws outright. That fight is already underway in courts, and one worth engaging in. However, litigation has led to conflicting circuit court decisions about whether ROFR violates the Constitution’s dormant Commerce Clause, often interpreted to limit state laws that discriminate against interstate commerce. The Supreme Court has twice denied petitions to review the ROFR issue in both a Minnesota case in 2021 and Texas case in 2023, leaving the question unsettled.

Faced with this legal uncertainty, an equivalent, faster alternative could be legislation requiring incumbent utilities’ development to match the contractual terms of successful competitive bids. This idea surfaced in 2021 when Ari Peskoe, Director of Harvard’s Electricity Law Initiative, proposed it in the context of regional planning, but no legislation has incorporated it since. The intuition is simple: if a utility uses its right of first refusal to capture a project, it must match the lower costs or better terms offered by the winning competitive bid. This brings the costs paid by ratepayers closer to what they should be paying in the free market.

>>>READ: Will the Ratepayer Protection Pledge Work?

This change would not require an expansion of FERC’s existing authorities. The Federal Power Act already allows FERC to declare rates or practices “unjust and unreasonable,” and the D.C. Circuit Court already ruled FERC could use that authority to eliminate federal ROFR as an anticompetitive rate practice. Enacting competitive requirements for interregional transmission employs the same logic. Congress should write a competitive parity requirement into law directly, sparing ratepayers years of legal battles that often accompany FERC-initiated rulemakings and protecting households from unruly development costs landing on their utility bills.

Many interregional transmission proposals in Washington possess the right objective—planning and building more interregional transmission lines—but fail to acknowledge when this objective collides with state monopoly protections. Remedying this gap does not require wide repeals of ROFR statutes, though that would be ideal. Instead, Congress could explicitly codify action using FERC’s existing authorities to ensure that, whoever builds a line, a competitive price is the price American households and businesses pay.

Scientists in the US have identified nearly 63,000 promising materials that could advance solid-state battery technology and speed up the development of safer and higher-performing energy storage.

The researchers at Cornell University used an artificial intelligence (AI) framework called IonNet to search millions of possible materials for fast-ion conductors that are critical components of solid-state batteries. They replace the flammable liquid electrolytes found in conventional lithium-ion batteries with solid materials.

However, finding solids that allow lithium ions to move rapidly enough remains a major challenge. According to the researchers, IonNet can predict how effectively lithium ions can move through a solid material using its chemical composition.

Read more in Interesting Engineering here.

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