Morning Brew Daily US Scraps Offshore Wind Projects & A Pirate Music Group Scraped Spotify
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Dec 23, 2025 The US is halting major offshore wind projects due to national security concerns, causing significant financial repercussions for developers. Meanwhile, gold and silver prices are soaring amid geopolitical tensions. A massive music piracy group has scraped Spotify's library, raising questions about its impact on artists and AI. On a lighter note, clothing rental services are trending, promoting sustainability and new business models, while urban density poses challenges for circular fashion initiatives.
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Offshore Wind Pause Risks Big Losses
- The Interior Department paused major East Coast offshore wind projects citing national security concerns without detailed public evidence.
- Neil Freeman and Toby Howell say the move risks huge financial losses and grid strain while legal battles continue.
Construction Halts Burn Cash Fast
- Developers reported massive weekly losses after construction halts, with Equinor saying Empire Wind lost about $50M per week.
- Toby Howell highlights how capital intensity makes stop-work orders financially devastating for wind firms.
Metals Rally From Geopolitics And Demand
- Precious and industrial metals surged, with gold up ~70% and silver over 130% this year amid geopolitical and macro uncertainty.
- Neil Freeman and Toby Howell link metals' rise to safe-haven demand, central bank buying, and industrial use for AI and EVs.