AI Price Wars Begin: OpenAI Considers "Drastic Price Cuts" In Pursuit Of Anthropic Customers

NatGas, Nuclear, Coal Keep Nation's Largest Grid From Buckling Under Heat Dome Summary: NatGas, Nuclear, Coal Power Generation Keep PJM Alive  First Day of Heat Dome Across Mid-Atlantic; Last Through Weekend  "Set Your AC To 78F": NYC Socialist Pleads With Residents As Fragile Grid Faces Blackout Risk GridStatus' website shows the PJM Interconnection under severe peak-demand stress as heat-driven cooling loads surge across the Mid-Atlantic and eastern U.S. PJM load is near 158 GW, net load is around 142 GW, and real-time power prices are sharply rising to about $929/MWh. The fuel-mix chart shows the...

EU Watchdog EBA Details Big Crypto Fines As Landmark Laws Bite Authored by Robert Lakin via CoinTelegraph.com, The European Banking Authority on Friday unveiled a sweeping framework to penalize cryptocurrency issuers that violate the European Union’s digital-asset laws, signaling a tougher enforcement stance as the trade bloc finalizes its historic regulatory architecture. The consultation paper published June 26 establishes a standardized playbook for hitting non-compliant issuers of what the EBA considers “significant” tokens with potentially multimillion-euro penalties. Under the proposal, the Paris-based watchdog will deploy a strict two-step process to determine fines, assessing the...

Supertanker Rates Hit Six-Year High: Here's What Driving It Global very large crude carrier (VLCC) rates have jumped to six-year highs due to two recent catalysts: first, a growing war-risk premium tied to the possibility of a US-Iran conflict, and second, ongoing consolidation in fleet ownership that is tightening vessel availability. Let's begin by noting that war-risk insurance premiums are rapidly being priced into VLCC tanker rates. The Strait of Hormuz has once again come into focus as the world's most important energy chokepoint, where any flare-up in a US-Iran...