The Daily Valet. - 5/26/21, Wednesday
✔️ Floating Power
Wednesday, May 26th Edition
My personal net worth has not changed much in the past 72 hours.
Cory Ohlendorf, Editor ⋯ @coryohlendorf
Today’s edition is presented by
Today’s Big Story
Floating Wind Turbines
Wind farms floating off the California coast could soon become a reality
The Biden administration announced Tuesday that it will open up parts of the Pacific coast to commercial-scale offshore renewable energy development for the first time.
The geography of the West Coast has long posed huge technical challenges for wind energy. Not to mention, the Pentagon has expressed concerns that turbines would complicate military training exercises in the region.
But rising to meet those challenges offers a chance for both President Joe Biden and California Governor Gavin Newsom to meet their clean energy goals. This announcement adds momentum to the administration’s goal of reaching 100% carbon-free electricity by 2035, coming just weeks after the country’s first large-scale offshore wind farm was approved off the coast of New England.
Under the new California agreement, the administration is targeting potential wind leasing that could produce enough power for 1.6 million homes over the next decade, according to a White House fact sheet.
Under the deal, the Defense and Interior Departments are promising to collaborate so the region can support military exercises and renewable energy development at the same time. But it hasn’t only been beaucratic challenges to blame. The continental shelf plunges fast and deep off the West Coast—making it impossible to install conventional turbines into the sea floor and compelling the use of more expensive, futuristic floating structures instead.
Developing and building a wind turbine capable of floating effortlessly on the turbulent waters of the deep ocean is tricky. One executive from GE told The Verge, it’s like “putting a bus on a tall pole, making it float and then stabilizing it while it interacts with wind and waves.” Sounds easy enough, right?
↦ FYI: Within about 20 years, the cost of electricity produced by offshore wind is forecast to drop by 60%, according to the International Energy Agency.
Some Serious Vaxx Incentives
Half of American adults are fulled vaccinated. Will these close the gap?
The U.S. passed another major milestone Tuesday in its race to vaccinate the population against COVID-19. Half of U.S. adults—more than 129 million people over 18—are now fully vaccinated against the virus, according to data from the CDC.
And while the pool of people who have expressed hesitation about being vaccinated has shrunk, vaccine incentives keep coming (and getting bigger). Forget about free doughnuts, how about free airline tickets?
United Airlines just announced that it's supporting the government's push to encourage people to get the shot by offering any new or existing MileagePlus members a chance to score free flights for up to a year's worth of travel or a round-trip flight anywhere in the world for two.
Of course, for some, it's not about convincing ... it's about convenience. A number of unvaccinated Americans aren't opposed or even skeptical to the vaccine, the New York Times reported, citing a new Census estimate. About 30 million Americans simply haven't managed to get to a vaccination site, due to work schedules, language barriers, lack of transportation or accessibility issues.
↦ Travel Tip: As air travel rebounds, TSA warns Americans of longer waits at airports around the U.S.
Partner
Ready to run off those extra quarantine pounds? So am I. But first, some new quality fitness gear.
The Outdoor Industry Has Been ... Pretty White
The North Face is launching a council to improve access and equity
Who do you picture when you imagine a mountain climber? A backcountry skier? A world-class cyclist? Over the last century, the most common images associated with the outdoors, adventure, and exploration have been disproportionately white.
The issue of diversity in the outdoor industry isn't new—early American conservationists had a history of prejudice. The Sierra Club, an environmental organization with chapters in all 50 states, apologized last summer for founder John Muir's racist views. And while green spaces make people healthier and happier, decades of systemic racism have left many people of color living in areas without access to nature.
But over the last year, companies are rethinking their approach to diversity and inclusion. Take the North Face, for example.
They just announced that Oscar-winning director Jimmy Chin and Emmy-winning writer and actor Lena Waithe will lead its Explore Council, reports Fast Company. Created last fall, the council will advise the company on providing opportunities for diverse communities, improving access to underserved communities, and broadening the very definition of exploration.
↦ FYI: According to a recent study, 95% of National Forest and Wilderness visitors were white.
The World Had a New Richest Man
But it’s tough to hang onto, apparently ...
On Monday, Jeff Bezos lost his title as the wealthiest person on Earth. French fashion tycoon Bernard Arnault found his net worth estimated at $186.3 billion—inching him just above the Amazon founder.
Bezos, in case you were wondering, had a net worth of $186 billion at the time (of course, that .3 is worth $300 million, remember). But as the stock market fluctuated later into the afternoon, Jeff Bezos regained the top spot.
On Tuesday, they remained locked in this figurative financial tug-of-war, as Arnault—head of LVMH, the luxury empire that owns Louis Vuitton, Dom Perignon and Tiffany & Co.—came out on top again, according to Forbes' real-time billionaires list.
Now, they're both hovering in the mid-$188 billion range. Which means they each got about $2 billion richer in the past 48 hours. What were people saying about the ultra rich getting richer at an alarming rate during the pandemic?
↦ FYI: According to Forbes, the number one spot has been occupied by U.S. citizens (Bezos, Musk, Gates and Buffett) for the best part of two decades.
In Other News
Other Things We’re Talking About Today
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Partner
The Benefits of Running Solo
An exercise that also clears your mind
There's much to be said for the inspiration and accountability that comes with taking a fitness class or working out with a buddy. But running solo is a smart practice that comes with its own payoffs.
It requires you to have the inner discipline and desire to push yourself. Plus, it gives your mind space to relax without the need for keeping up or competing with others or meeting someone else's goals.
Beyond the control, running alone helps you find your own rhythm, your own natural stride and pace. This is what will turn your simple jog into a meditative exercise that is good for your body, mind and soul. And new gear is a great way to get started.
Cloudflow rubber-trimmed running sneakers, $140 by On
TechKnit T-shirt, $70 by Nike Running
Stretch-shell shorts, $75 by District Vision
Frogskins polarized sunglasses, $155 by Oakley
Mesh-panelled hoodie, $170 by Tracksmith
Spark stretch-knit socks, $18 by Nike Running
↦ Shop: All running gear at MR PORTER
6 Discounted Grooming Grails
$119.99 / $99.99 by Braun
↑ Looking for a razor to do it all? Braun has you covered with the Series 6 ($99.99). An all-in-one-groomer, this wet and dry razor has five settings and a SensoFlex swivel head for full coverage and no nicks along the way.
↦ Want More? See all six picks
Morning Motto
You can’t be 100% all the time.
↦ Follow: @terrapinstationers
That’s all for today...
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