Gundlach Says Gold 'No Longer for Lunatic Survivalists'
DoubleLine Group CEO Jeffrey Gundlach says gold is the flight-to-quality asset in the US at the Bloomberg Global Credit Forum in Los Angeles. (Source: Bloomberg)
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Yahoo
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Meta and energy company announce plans for geothermal plant in New Mexico
Meta and a California-based geothermal energy company announced plans on Thursday to build a geothermal power plant in Northwestern New Mexico, as Gov. Michelle Lujan Grisham and other officials touted a report outlining how the state has the resources to produce substantial geothermal power. Meta, the parent company of Facebook, and XGS Energy aim to build a geothermal energy site capable of producing 150 megawatts at a location that has not yet been named. A recent report indicates the Santa Fe region, as well as portions of Sandoval and Tao counties, are particularly well positioned to produce geothermal energy. "We sit on, no kidding, one of the best dry hot rock energy resources not just in Western United States but in the entire world," said Josh Prueher, XGS Energy CEO, during a news conference at the state Capitol, flanked by Lujan Grisham. "The statistics are staggering." Meta in 2019 opened a sprawling data center in Los Lunas where the tech giant stores videos, photos and other media that its billions of users have posted to the social network. It is unclear whether the new geothermal power plant would support its existing footprint in New Mexico and the Southwest or a future expansion. Prueher said XGS is considering public, private and tribal lands to site the planned plant and is engaged with landowners in each of those categories. Asked whether Sandoval, Santa Fe and Taos counties might be potential locations, Prueher said they could be. The 200-page "The Future of Geothermal in New Mexico" report, published by Project InnerSpace in collaboration with New Mexico Tech and the New Mexico Bureau of Geology and Mineral Resources, notes the potential for 163 gigawatts of geothermal power to be generated in the state. The Future of Geothermal in New Mexico The vast subsurface heat present in the state could help boost the Land of Enchantment's clean energy future, advocates of the project say. "It's a big damn deal," Lujan Grisham said, praising the economic and job creation impact the project could have. Geothermal resources, typically reservoirs of hot water that exist at various temperatures, generate renewable energy from hot water sources deep beneath Earth's surface. Most of the geothermal power plants in the U.S. are in western states and Hawaii, according to the U.S. Energy Information Administration, where geothermal energy resources are close to the earth's surface. California generates the most electricity from geothermal energy. Lujan Grisham said the project is not receiving state money at this time. The geothermal power plant in Northwestern New Mexico would be the second in the state, with one such power plant already in operation in Hidalgo County. This is a developing story and will be updated.
Associated Press
20 minutes ago
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Fans don't appear to be snatching up tickets to the Club World Cup
If slashed ticket prices, closed stadium sections and moved seats are any indication, fans aren't exactly clamoring to attend the Club World Cup. The tournament opens Saturday with Lionel Messi's Inter Miami facing Al Ahly at Florida's Hard Rock Stadium. Thirty-two teams are taking part in the newly expanded tournament that will be played across 11 U.S. cities. The final is set for July 13 at MetLife Stadium in New Jersey. On Ticketmaster, FIFA's official ticketing partner for the Club World Cup, the least expensive tickets to the opener were $349 in December. As of Thursday, there were tickets available for just under $80. Upper deck seats for certain games at Seattle's Lumen Field and Philadelphia's Lincoln Financial Field were no longer available. Links to a smattering of resale tickets in those sections did not work. A person with knowledge of the situation confirmed to The Associated Press that some sections of Lumen Field in Seattle had been closed, but did not offer details. The person spoke on the condition of anonymity because they were not allowed to speak on the record. In Philadelphia, some ticketholders received messages that said they were moved. 'As we continue preparations to deliver a world-class event, we are making a few enhancements inside the stadium to optimize operations and ensure the best possible matchday experience for fans, players and the global broadcast audience,' the message said. 'As a result of these stadium optimizations, some seats, including yours, will be relocated. We want to ensure you that your new seat will be in the same or better value zone than your original one.' Ticketmaster used dynamic pricing for ticket sales, which is based on demand and other factors. They referred all questions about sales to FIFA. FIFA did not respond to questions about whether sections were closed due to slow ticket sales, or whether fans who originally bought tickets in those sections were moved or offered refunds. But soccer's international governing body did offer a general statement. 'We anticipate great attendances and electric atmospheres at its inaugural edition, with excitement growing with every round of matches and the tournament ultimately standing as the undisputed pinnacle of club world football,' the statement said in part. 'The appetite speaks for itself: fans from over 130 countries have already purchased tickets. The top 10 markets are led by the United States, followed by Brazil, Argentina, Mexico, Canada, France, Japan, Switzerland, Germany and Portugal — a clear sign of global anticipation and reach.' With 32 international teams, there are undoubtedly some clubs that are unfamiliar to American audiences. There are also 63 total matches, meaning not all can occur in prime hours for fans. Argentine club River Plate is playing Japan's Urawa Red Diamonds at Lumen Field on Tuesday at noon local time ($24 tickets), while a noon game between Brazil's Fluminense and Germany's Borussia Dortmund had tickets available via Ticketmaster for $23. However, some matches were drawing fans, including Paris Saint-Germain's opener against Atletico Madrid on Sunday at the Rose Bowl, where the least expensive seats were $100. The least expensive ticket for July's tournament final available through Ticketmaster was $769. FIFA President Gianni Infantino urged fans to buy tickets at a hype event in the leadup to the tournament this week. 'Be part of history,' he said. 'Football is such an important sport all over the world. We have billions of people watching this Club World Cup from home who would love to club and to attend.' ___ AP soccer:
Associated Press
20 minutes ago
- Associated Press
Louisiana AG investigating CVS for sending mass text messages lobbying against legislation
Baton Rouge, La. (AP) — Louisiana Attorney General Liz Murrill announced Thursday she is investigating whether pharmaceutical giant CVS improperly used customers' personal information to send out text messages lobbying against a proposed state law. Murrill also said she plans to issue a cease-and-desist letter to the company to stop the messages. As lawmakers debated a now-failed bill on Wednesday — which would have prohibited companies from owning both pharmacy benefits managers and drug stores — they held up screenshots of text messages sent by CVS. 'Last minute legislation in Louisiana threatens to close your CVS Pharmacy — your medication cost may go up and your pharmacist may lose their job,' one such text, obtained by The Associated Press, read. Attached was a link to a draft letter urging lawmakers to oppose the legislation that someone could sign with their email address and send to legislators. 'The proposed legislation would take away my and other Louisiana patients' ability to get our medications shipped right to our homes,' the letter read. 'They would also ban the pharmacies that serve patients suffering from complex diseases requiring specialty pharmacy care to manage their life-threatening conditions like organ transplants or cancer. These vulnerable patients cannot afford any disruption to their care – the consequences would be dire.' In fiery testimony, Rep. Dixon McMakin pointed to some of the messages, saying they were misleading and false. He specifically pointed to ads, that people reported seeing on social media, alleging that lawmakers 'may shut down every CVS pharmacy in the state.' 'No we're not, you liars. Quit being liars. Quit using scare tactics,' McMakin said. Republican Rep. Bryan Fontenot held up his phone, showing that he, too, had received a text message from CVS. 'It's in the same text thread (used) to notify when my prescription is filled,' he said. 'They've now taken that to send me political texts.' CVS sent messages to 'large numbers' of state employees and their families to lobby against proposed legislation involving the company's pharmaceutical benefits manager, Murrill said in an X post. Customers gave CVS their phone numbers to receive pharmaceutical information such as vaccine availability or prescription pick-ups but the company is using this personal information 'for their own personal corporate interests against pending legislation,' Murrill told reporters. 'That's not why anybody gave them their phone number.' Amy Thibault, a spokesperson for CVS, said the texts were the result of a last-minute amendment to the bill Wednesday without an opportunity for a public hearing. The amendment was crafted behind closed-doors by a conference committee — a regular practice utilized in the statehouse when the House and Senate cannot agree on final versions of a bill. 'We believe we have a responsibility to inform our customers of misguided legislation that seeks to shutter their trusted pharmacy, and we acted accordingly,' Thibault said in an email. 'Our communication with our customers, patients and members of our community is consistent with law.' Republican Gov. Jeff Landry has continued to push the bill as the state's legislature concluded Thursday afternoon. The bill, which proponents said would bolster independent pharmacies and reduce the cost of prescription medications, received overwhelming approval in the House, with a vote of 88-4. Among those who voted against the measure was Rep. Mandie Landry. The Democrat said that while she wanted to vote in favor, but she was receiving messages from people in her district urging her not to. She said CVS's lobbying had reached them and as a result they feared that they wouldn't be able to access their medications. 'CVS … you should be so ashamed of this. You are scaring people,' Landry said. The bill ultimately died with the Senate opting not to take it up in the final hour of the 2025 session. Landry spokesperson Kate Kelly said the governor plans to call a special session in hopes of passing similar legislation. 'Yes we will have a special to lower prescription drugs for our citizens,' Kelly said. 'It's that important.' ___ Brook reported from New Orleans.
