Aggregator

"It is with a shattered heart that I share that the brilliant Josh Grisetti took his own life on Friday," Rob McClure wrote on Instagram Sunday.

David Stearns’ team finds itself 17 games under .500 — their most since they were 18 under in 1995.

A chain-reaction crash involving multiple tractor-trailers sparked fires that engulfed multiple vehicles in Jalisco.

Members of the Iranian diaspora in London held a candlelight vigil Sunday for Sen. Lindsey Graham hours after the Iran hawk died suddenly at the age of 71.

AI Winners Unwind Sparks Panic In South Korea As SK Hynix Suffers Record Plunge, KOSPI Dumps

SK Hynix shares suffered their steepest decline on record in Seoul following Friday's blockbuster ADR debut in New York. The sell-off spread across South Korea's memory and data storage stocks, helping to drive the benchmark KOSPI down as much as 9% and triggering a 20-minute market-wide trading halt.

SK Hynix fell 15% to 1.845 million won on Monday, while its ADRs dropped nearly 9% in premarket trading to $153.50. The decline came as the chipmaker began trading under its ticker "SKHY" following last Friday's $26.5 billion U.S. listing, the largest share sale by a foreign company.

"Korea's SK Hynix shares are now down 15.6% on the day, for a 37% decline since the June 22 high. Still, the stock is 160% higher than at the start of the year. In part the drop in the Korea listing reflects a switch trade – selling the locally listed shares to buy the US ADRs, which launched on Friday. The stock is a darling of the retail investor, which can squeeze it in both directions," UBS analyst Simon Penn wrote in a note on Monday morning.

Goldman analyst Christopher Cha noted, "And today another -9% move..  Foreign and local institutional investors ended the day as net sellers, offloading $1.13 billion and $1.5 billion respectively. Local institutional selling was heavily concentrated in ETF-related liquidations, while foreign selling was almost entirely passive, with program trading accounting for $1.18 billion of the net outflows. Our High-Touch trading desk observed flows that mirrored this passive-heavy dynamic; institutional block activity was surprisingly muted despite the index's dramatic drop. We saw selective selling from momentum-driven hedge funds, while LOs remained quiet."

What changed last night was the buyer base: after months in which foreign outflows were absorbed by domestic demand, such as institutions and retail investors, foreign and local traders sold in tandem, accelerating the stock plunge. 

Here's additional commentary: "The weakness in memory seemed more flow-driven again (today joint net-selling by foreigners and local instos in Tech) with the ongoing consolidation in KOSPI. In SEC, foreigners and local instos jointly net sold -$129mn/-$564mn respectively, while retail investors bought the dip +$730mn." 

Meanwhile, popular leveraged ETFs that fueled the memory stock surge in Seoul plunged the most on record... 

UBS analyst Charles Lee commented on SK Hynix's technicals, saying, "Lastly, on the technical side, SK Hynix's 50-day moving average (KRW2.158 mn) has again failed to hold. The stock has been battling around this level while finding support at KRW2.0 mn throughout July, but it broke below that key support level on Monday."

More broadly, Justinus Steinhorst at UBS noted, "There's continued weakness in AI Winners, with the basket {UBXEAIW} down 1.4%. TSMC sales were in line but there is a big unwind in the Asia memory trade as SK Hynix had its worst day on record post Friday's ADR debut. ASML earnings on Wednesday will be the most important catalyst for the AI trade this week. UBS expects a strong print with a likely FY guidance upgrade."

Weakness spread across memory and computer storage stocks, with Samsung down 10%, SanDisk down 7%, Western Digital down 7%, and Micron down 5.6%.

The brunt of the sell-off was concentrated in South Korea, where the KOSPI closed nearly 9% lower, extending its correction from its June highs to more than 20%.

Selling spread Stateside to Nasdaq futures, down around 1%. 

UBS analyst Joe Dickinson noted that "recent price action across the AI trade continues to resemble a short-term 'peak narrative' unwind."

Circling back to our weekend note, "Carnage" in the Hyperscaler Bond Market: Did Goldman Just Pop the AI Debt Bubble, Goldman's head of credit strategy, Amanda Lyman, provides new insight into the growing stress across the hyperscaler and AI bond market.

Read the full report here.

Tyler Durden Mon, 07/13/2026 - 07:25

Republicans are racing to fill Senator Lindsey Graham’s seat after his sudden death, with a temporary appointment looming and a high-profile special election already taking shape. Potential candidates are emerging as South Carolina prepares for one of the most consequential Senate races in years. A new documentary claims to reveal previously unseen evidence that supporters...

There’s no guarantee now that Tarik Skubal, Sonny Gray or Sandy Alcantara will be traded, with the Tigers, Red Sox and Marlins among the hottest teams in baseball.

"What Makes It Even Stranger...": Trump Describes Saturday Night Phone Call With Lindsey Graham Hours Before Senator's Death

Update (1815ET):

Officially, Graham died of an aortic dissection due to Arteriosclerotic Cardiovascular Disease, according to preliminary findings by the DC Medical Examiner - so who knows. An aortic dissection is characterized as a tearing of the aortic wall. 

Update (1135ET): President Trump has weighed in on Graham's death, telling Meet the Press that Graham called him in the 'early evening,' to tell Trump he was 'all set for the Save America Act,' and that it may have been the last call Graham made. 

"what makes it even stranger is that I got a call last night sometimes in, you know, the early evening, maybe in the 7:00's. And he called and he said, "We're all set for the Save America Act,"" Trump told host Kristen Walker. "He was pushing the Save America Act like crazy. He got back, said he just landed from Ukraine. I said, "That's a long trip to make.""

TRUMP: “What makes it even stranger is that I got a call last night sometime … and [Lindsey Graham] said we're all set for the Save America Act … We thought maybe we might even meet today. And then that was it.” pic.twitter.com/9YVdW3VzRM

— Chief Nerd (@TheChiefNerd) July 12, 2026

Graham notably toured a top secret Ukrainian 'Skyfall' drone factory (see more below) days before his death, where the country's deadly 'Baba Yaga' Vampire bomber drones are manufactured. He also announced an upcoming Russian sanctions package, and said that the US can learn a lot from Ukraine's UAV advancements.

"I believe that it would be a huge mistake for America not to cooperate with Ukraine in the field of drones. They are ready to help us, because we were ready to support Ukraine in the most difficult times," Graham said. 

This was Lindsey Graham two days ago in Kyiv after meeting with Zelensky. pic.twitter.com/J8VW3hmXfl

— MAZE (@mazemoore) July 12, 2026

US Senator Lindsey Graham visited Ukraine's SkyFall and got a look at Vampire heavy bomber drones, Shrike FPVs and P1-SUN Shahed interceptors, plus some new tech not yet on the battlefield. Looks pretty happy holding Ukraine's P1-SUN drone in the photo. pic.twitter.com/o2gFBt657c

— WarTranslated (@wartranslated) July 11, 2026

When asked about a replacement for Graham, Trump said "I have somebody that I think would be great. But I don't want to say it now because, you know, it's too soon with Lindsey. I don't want to even talk about anybody. But I do have somebody that I think is really good."

International Response

In reaction to Graham's death, Ukrainian President Volodymyr Zelenskyy paid tribute, describing Graham as “a true defender of freedom and of the values that make our world safer.” He highlighted that Graham had visited Ukraine ten times during the war, noting they were in constant dialogue. Zelenskyy added that Graham had been working on key initiatives in recent weeks to advance peace, including stronger sanctions against Russia. Ukrainian Foreign Minister Andrii Sybiha called Graham a “true friend” and “one of the strongest voices” supporting Ukraine in its war against Russia. He praised Graham for pushing to bolster sanctions on Russia and for helping provide Ukraine with the means to defend itself.

NATO Secretary-General Mark Rutte described Graham as “a powerful advocate for America who believed strongly in the NATO Alliance” and noted that he was actively working to end Russia’s war against Ukraine.

* * *

Lindsey Graham, the Republican foreign-policy hawk from South Carolina, died abruptly on Saturday following what his office described as "a brief and sudden illness," according to a statement posted on X.

"On the evening of Saturday, July 11, U.S. Senator Lindsey Graham passed away from a brief and sudden illness. Senator Graham's family appreciates prayers at this time and asks for privacy during this incredibly difficult period," Graham's office said.

Statement from the Office of U.S. Senator Lindsey Graham (R-South Carolina). pic.twitter.com/CQ5yVvqTH1

— Lindsey Graham (@LindseyGrahamSC) July 12, 2026

Graham had served in the Senate since 2003 and was seeking a fifth term. He was in Kyiv on Friday touring a major drone factory before returning to Washington, where he was scheduled to appear on NBC's "Meet the Press" on Sunday morning.

Emergency personnel responded to his home in Washington on a reported cardiac arrest on Saturday evening, according to NBC News.

President Trump commented early Sunday on Truth Social about the passing of the senator, calling him a "true American Patriot."

Trump said, "Senator Lindsey Graham, one of the greatest people and Senators I have ever known, is dead! He was always working, and was a true American Patriot. Lindsey will be greatly missed!!!"

To note, Graham was on an Iranian kill list. Just days ago, Trump said if he was assassinated, then "bomb them at levels never seen before." 

At least they used a good photo of me.

Judge me by my enemies. https://t.co/Ok2Oq1v4O5 pic.twitter.com/b1RBvzKo9K

— Lindsey Graham (@LindseyGrahamSC) July 6, 2026

Graham was once a fierce Trump critic, denouncing him during the 2016 presidential campaign before transforming into one of his most loyal supporters. He also advocated a hard line against Iran and consistently backed a strong US military posture overseas.

Tyler Durden Mon, 07/13/2026 - 06:35

Trust Is Lost From Both Financial Markets And Sports

Submitted by QTR's Fringe Finance

A couple of months ago I wrote that I had stopped actively trading, stopped sports betting, quit fantasy football and the likes. I also spoke out against the culture of gambling taking over our country. The reason? In short, it’s all fucking impossible to predict, there’s always going to be sharper money with better leans on short term bets.

Whether its massive 0DTE puts coming in on oil before a Trump ceasefire announcement or someone seeing Conor McGregor limping into the ring and knowing he already had a leg injury last night before his fight, the rigging of both sports and financial markets is now beyond obvious.

My column in May, one of the most read pieces ever published on my blog, wasn’t some dramatic life announcement or an attempt to prove anything to anybody. I had simply reached a point where I was exhausted by living inside a constant loop of anticipation, reaction, and emotional volatility. Looking back, I don’t think I appreciated just how much of my mental bandwidth was being consumed by things that were completely outside of my control.

Two months later, I can say without hesitation that stepping away has been one of the healthiest decisions I’ve made in years. I’m calmer and I can enjoy watching the news, the market and sports again innocently, without the excruciating worry that a last minute “meaningless” dunk in a basketball game or a Trump Truth Social post from the White House shitter at 3AM after a late night Big Mac binge is going to alter the course of my mood for the day.

My life has become noticeably quieter, and I’ve realized that quiet isn’t something to fear…it’s something to protect.

And if we needed another reminder why sports betting is such an absurd way to spend our money and attention, all anyone had to do was watch last night’s UFC main event. If you blinked, you may have missed it.

Millions of people spent months anticipating what was supposed to be one of the biggest fights of the year. Countless hours were spent breaking down fighters, studying betting lines, debating strategies, listening to podcasts, and trying to find a perceived edge. Instead, within moments it became obvious that something wasn’t right. McGregor looked compromised almost immediately, and what was supposed to be a memorable main event became a disappointment as quickly as it started.

Half the betting public celebrated because their tickets cashed. The other half immediately tore theirs up. But almost everyone walked away feeling cheated because the fight itself never really happened.

That, to me, perfectly summarizes modern sports betting. It makes sports hollow and meaningless to a degree. The entertainment itself gets replaced by financial outcomes. Instead of appreciating great competition, we’re constantly evaluating whether our bet is alive or dead. The event stops being the product. The wager becomes the product.

Then come the questions everyone is asking today. Was McGregor already injured before the fight? How serious was it? Who knew beforehand? Did the promotion know? Did his camp know? Were sportsbooks aware? Did sharp bettors pick up on information the public didn’t have access to?

Whether any of those questions have sinister answers almost doesn’t matter. The fact that they immediately become reasonable questions tells you everything you need to know about how fragile trust has become and how the perceived integrity of all sports is diminishing as a result of gambling. The average bettor is being asked to risk real money while operating with only a tiny fraction of the information that may actually determine the outcome.

The recent NBA gambling scandal is another obvious example. A growing federal investigation alleges that several current and former NBA players manipulated their own performances and leaked insider information to profit from prop bets, raising fresh questions about the integrity of the league.

Suddenly people aren’t just wondering whether a player had a bad shooting night, they’re wondering whether somebody knew something beforehand. Every integrity investigation, every suspicious betting line movement, every undisclosed injury chips away a little more at confidence that everyone is operating on a level playing field.

The Egypt-Argentina World Cup controversy offered another reminder. Egypt’s loss to Argentina became controversial because several crucial refereeing and VAR decisions went against Egypt, leaving its players and supporters convinced the match had been tilted toward Argentina.

Instead of talking about the quality of the match, fans spent days debating officiating decisions, stoppages, administrative confusion, and whether the competition itself had been handled fairly. Increasingly, sporting events seem to generate almost as much discussion about process and integrity as they do about athletic performance.

The average person has absolutely no idea where the informational playing field begins or ends anymore. If leagues, athletes, officials, betting syndicates, insiders and sportsbooks all potentially possess information before the public does, how exactly is the average fan supposed to believe they’re making informed decisions?

We’ve seen the same erosion of trust spill over into politics and financial markets. Over the last six months alone, there have been a string of remarkably well-timed options trades, commodity bets, and prediction market wagers placed just ahead of major Trump administration announcements on tariffs, geopolitical events, and other market-moving decisions.

At the same time, financial disclosures revealed that President Trump’s trust executed thousands of trades while he remained in office, including positions in companies directly affected by administration policy, which is to say nothing of the billions he has made from crypto.

The Trump Organization says those trades were made independently by outside managers, not by Trump or his family, and there is no public evidence proving wrongdoing. But I’ve been around markets long enough to know that when unusually well-timed trades repeatedly appear before major policy announcements, and elected officials continue actively trading while making market-moving decisions, it’s not hard to understand why so many people have started questioning whether the average investor is playing the same game as everyone else.

And then there’s central banks, governments and policymakers distorting markets to the point where fundamentals feel/are irrelevant. You can spend months researching a company, identifying valuation discrepancies and constructing a thoughtful thesis, only to watch everything change because one central banker decided to scratch his nuts the wrong way during a press conference.

Sports increasingly feels similar. Injuries are strategically disclosed. Officials make subjective decisions. Replay reviews change outcomes. Gambling markets move before news becomes public. League politics influence narratives. Every year the relationship between sportsbooks, leagues, broadcasters and gambling companies becomes more intertwined.

Eventually you begin asking yourself whether you’re actually analyzing sports or simply trying to guess what information everyone else has that you don’t.

That realization was enough for me.

More broadly, though, I think gambling itself is quietly becoming one of the defining cultural problems of our time.

Twenty years ago you had to make an effort to gamble. Today it is impossible not to be surrounded by it. Every commercial break promotes betting odds. Every sports broadcast has sponsored segments explaining parlays. Every podcast has a promo code. Every influencer suddenly has “locks of the week.” Live betting has transformed every possession into an opportunity to wager. Kids who barely remember a world without smartphones are growing up believing it’s completely normal to have money riding on every pitch of a baseball game or every possession in an NBA contest.

We have convinced ourselves this is harmless entertainment. That’s bullshit.

🔥 50% OFF FOR LIFE: Using this coupon entitles you to 50% off an annual subscription to Fringe Finance for life: Get 50% off forever

We’re teaching an entire generation to experience sports through financial anxiety instead of appreciation. We aren’t encouraging patience or discipline, we’re encouraging impulsivity. Every moment becomes another opportunity to chase dopamine. Every near miss becomes an excuse to reload. Every loss becomes a reason to get even.

It’s the exact same psychological machinery that exists in day trading, prediction markets, leveraged crypto, online casinos and social media. The industries are different, but the business model is identical: monetize attention by keeping people emotionally activated every waking minute of the day. People celebrate that you can trade crypto 24/7. That’s a bug, not a feature.

Both markets and sports betting quietly train your brain to believe that stillness is failure and that boredom is something to eliminate instead of embrace. I don’t regret anything I wrote back in May. If anything, the last two months have reinforced every conclusion I came to.

Walking away has given me something that no winning ticket or successful trade ever consistently provided: peace. I still love sports. I still watch fights. I still follow markets. I still enjoy thinking about investing and writing about ideas. The difference is that I no longer need my emotional state to fluctuate with outcomes I can’t possibly control.

---

QTR’s Disclaimer: Please read my full legal disclaimer on my About page here. This post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a Creative Commons license with my best effort to uphold what the license asks, or with the permission of the author.

This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions.

As of May 20, 2026 I personally no longer actively trade (read my story here). My investing/saving is done by recurring contributions mostly to sector ETFs and a few select equities, trusted third parties who oversee my accounts, and advisors. Such advisors or funds, through individual equities, options, index funds, mutual funds, ETFs, or other securities, may have positions in, exposure to, or holdings of names mentioned herein that I know nothing about. Basically, via index funds, ETFs and individual equities it is possible I could own, have exposure to, or not own anything at any point. As of the same date, May 20, 2026, in an attempt to lead a healthier lifestyle, I’ve also excluded myself from fantasy sports, sports betting, online and in-person casinos and prediction markets.

And all positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. If you see numbers and calculations of any sort, assume they are wrong and double check them. I failed Algebra in 8th grade and topped off my high school math accolades by getting a D- in remedial Calculus my senior year, before becoming an English major in college so I could bullshit my way through things easier.

The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

Tyler Durden Mon, 07/13/2026 - 06:30

Explosions have been reported in the Iranian port city of Bandar Abbas and Qeshm Island – which is home to an underground “missile city” – Monday.

Healthy influencers are embracing a wearable once reserved for diabetes patients to optimize their health. But experts say that the benefits for most people remain unproven.

What if the biggest thing standing between you and feeling your best is a misconception? New York Post Wellness Editor Carly Stern sits down with Dr. Thea Gallagher, Clinical Associate Professor in the Department of Psychiatry at NYU Grossman School of Medicine, to separate fact from fiction around SSRIs and mental health. Learn what these...

Aaron Gies, the Democratic candidate running against two-term Republican Rep. Nick Langworthy in upstate New York's 23rd House district, had his convicted sex perv brother-in-law assist his campaign before urging Maine Senate candidate Graham Platne to withdraw from his race over sex abuse accusations.

Breel Embolo's controversial red card against Argentina changed the 2026 FIFA World Cup quarterfinal. Here's why VAR overturned Leandro Paredes' booking and sent the Swiss striker off for simulation.

Industry sources told The Post these distillation attacks are only getting more common and could help adversaries develop terrifying hacking or autonomous weapon capabilities – or even leapfrog ahead of US firms in the coming days.

Mainstream Democrats need to wake up before it's too late.

Nuclear Fuel Leader Centrus 'At A Discount' As Structural Uranium Enrichment Deficit Looms; Needham

Needham analyst Carter Goman published a report on Centrus Energy (NYSE: LEU), reaffirming a Buy rating while cutting the price target to $264 from $314. 

Recently trading around $171, the shares have lagged the broader markets year-to-date, presenting what Goman views as an attractive entry point for investors seeking exposure to the domestic enrichment leader.

Goman attributes the underperformance primarily to a “focus on capital expenditures for the planned Piketon capacity and normalized economics relative to established enrichment competitors Urenco and Orano, in addition to skepticism around timelines for new nuclear
build”. 

He leaves the core financial estimates largely unchanged but adjusts the target to reflect a mark-to-market on the cost of capital for the first-of-a-kind (FOAK) Piketon project.

The bullish investment thesis is underscored by Centrus' strategic positioning. As the only US-domiciled enricher, and the sole Western producer with demonstrated high-assay low-enriched uranium (HALEU) capability, Centrus is poised to anchor the rebuilding of America's nuclear fuel cycle. 

Russian supply is phasing out under the 2024 Prohibiting Russian Uranium Imports Act, LEU markets are tightening, and HALEU demand from small modular and advanced reactors is set to ramp. With a credible path to at least 3.5 million separative work units (SWU) of capacity, the company is transitioning from a trading-exposed LEU broker into a vertically integrated, high-margin strategic asset.

Goman emphasizes a $3.9 billion backlog as of 1Q26, extending out to 2040 and offering long-dated visibility. The LEU segment accounts for the bulk ($3.1 billion), including $2.4 billion in previously contingent commercial commitments from South Korea tied to future Piketon production that are now 100% under definitive agreements. 

The Technical Solutions segment backlog contributes another $800 million. 

Federal support provides a critical foundation. Earlier this year, the Department of Energy (DOE) announced a $900 million task order to American Centrifuge Operating (a Centrus wholly-owned subsidiary) under the HALEU Production Contract. The company finally signed the contract earlier this month, with the award value surpassing $1 billion.

Goman notes that Centrus likely has access to “access to multiple potential sources of no / low-cost capital”, including possible National Nuclear Security Administration (NNSA) involvement, foreign direct investment, and third-party funding.

On the cost side, FOAK economics at Piketon will inevitably exceed Nth-of-a-kind (NOAK) benchmarks at mature foreign facilities. However, Goman points out initiatives like the Palantir partnership announced in 1Q26 have already identified approximately $300 million in potential savings through AI-driven optimization of project controls, manufacturing, and supply chain.

Goman's report also provides some context for the global enrichment market. Global SWU demand hovers around 54 million annually, with supply highly concentrated among a handful of state-influenced players: 

• TENEX (Russia) 43% share
• Urenco (Germany, UK, Netherlands) 29%
• Orano (France) 12%
• CNEIC (China) 15%

In the US, annual consumption is roughly 15 million SWU, but domestic production has been limited with only 4.3 million SWU from Urenco's New Mexico plant. The remainder relied on imports, with Russia previously supplying a sizable chunk before the import ban.

Goman outlines a structural deficit emerging as Russian volumes exit and demand grows. The Nuclear Energy Institute has flagged ~8.1 GW of potential incremental generation from uprates, restarts, and extensions. Government-backed plans for 10 new Westinghouse reactors could add substantial initial and ongoing SWU needs.

When combined with the Russian ban, this creates a meaningful "call" on domestic capacity exceeding 6.5 million SWU annually before advanced reactor and national-security demand. Spot SWU prices have surged above $200, reflecting limited uncommitted global supply and long lead times (5-10 years) for new capacity. Goman expects pricing to remain structurally elevated, supporting both legacy trading margins and future enrichment returns.

Urenco is expanding its U.S. footprint (targeting over 7 million SWU eventually), and Orano has their NRC review underway for a new facility. Centrus' AC100 centrifuge technology, NRC license through 2037, and existing Piketon site advantages provide a meaningful moat, especially for national-security applications where US-origin tech is mandated. HALEU represents additional upside as the majority of the reactors under the various DOE programs require it.

Goman's valuation framework assumes: 

• 3.5 million SWU initial facility (with ~25% HALEU mix over time)
• ~$7 billion cumulative CapEx
• $250/SWU long-term pricing
• 50% enrichment margins
• 10% discount rate
• 15x terminal multiple on FY35 EBITDA

Upside could come from accelerated federal support, manufacturing efficiencies at the Oak Ridge center, higher SWU prices, or faster HALEU commercialization. Downside risks include FOAK execution/cost overruns, funding delays, TENEX supply volatility through 2027, and potential equity dilution.
 

Tyler Durden Mon, 07/13/2026 - 05:45

Sen. Lindsey Graham (R-SC) reportedly joked “I can’t die now” after complaining he felt unwell – hours before he passed away at the age of 71 from a suspected ruptured aorta brought on by chronic heart disease. Graham’s office announced his death early Sunday – hours after his return from Ukraine, where he toured a...

The girl's parents and bystanders fought off the suspect at Tom McCall Waterfront Park before officers arrived.

Britain Bets On Hydropower To Boost Energy Security

Authored by Felicity Bradstock via OilPrice.com,

• Britain has provisionally approved three major pumped storage hydropower projects in Scotland, the first of their kind in more than 40 years.

• Pumped storage facilities will act as large-scale energy storage systems, helping balance intermittent wind and solar generation.

• The projects are expected to improve energy security, reduce reliance on imported fossil fuels, and support the U.K.'s decarbonisation strategy.

After years of neglect, the United Kingdom has big plans for hydropower as part of broader plans for a green transition. The government is supporting the development of three large-scale hydro-storage projects as part of its plans to diversify the U.K. energy mix, support a green transition, and boost energy security.

Hydropower is one of the oldest and largest sources of renewable energy. It works by converting the energy of running water into electricity. Many hydropower projects rely on reservoirs created by dams to store large quantities of water and produce electricity as needed. Meanwhile, hydropower plants without reservoirs are typically called run-of-river power plants. In these types of facilities, production is controlled by the amount of water flowing past at any given time. Just four countries – China, Brazil, Canada, and the United States – produce roughly half of the world’s hydroelectricity.

The U.K. has been producing electricity from hydropower projects since the 1800s, and the energy source now contributes around 2 per cent of the country’s electricity generation. Two-thirds of hydropower-generated electricity is produced during the winter months. There are almost 1,700 hydropower schemes across the U.K. with an installed capacity of around 2 GW.

As part of plans for a green transition, the U.K. is expected to invest heavily in hydropower in the coming years. In October 2024, the U.K. government announced a new policy to promote investment in Long Duration Energy Storage (LDES) as part of the country’s decarbonisation plans.

The global demand for energy storage has risen dramatically in recent years, as many countries shift to less stable renewable energy sources to produce low-carbon power. LDES, also known as pumped hydropower storage (PHS), is a type of hydroelectric energy storage. It works by using two reservoirs at different heights to generate power by moving water from one to the other (discharging) as it passes through a turbine. The water can also be pumped back up to the higher reservoir (recharging) during off-peak electricity hours for reuse during peak demand. The system effectively functions as a massive battery, storing power for release as required.

The U.K. government aims to diversify the country’s energy mix to reduce reliance on fossil fuels and help strengthen energy security. Having invested heavily in intermittent clean energy sources, such as wind and solar power generation, it is looking to other energy sources, including hydro and geothermal power, to fill the gap.

There are currently four PSH schemes in the U.K., all of which were funded publicly from the 1960s to the 1980s to store overnight nuclear generation. By 2025, 11 PSH were under development across the U.K., with an expected combined power storage capacity of more than 10 GW and 200 GWh, or 25 per cent of the country’s power demand, once completed. A study from Imperial College London suggests that just 4.5 GW of new PHS with 90 GWh of storage could save up to £690 million a year in energy system costs by 2050. 

Last month, the U.K. energy regulator provisionally greenlit the first major new hydropower projects in over four decades, as part of plans to reduce the U.K.’s dependence on energy imports, in response to ongoing geopolitical tensions in the Middle East and severe disruptions to energy supply chains. Three new PHS power stations will be developed in Northern Scotland, using the region’s famous lochs to supply hydropower, pending final approval.

Statera Energy’s Loch Kemp project will use water from Loch Ness, while SSE’s Coire Glas project will rely on water from Loch Lochy, which is situated between Fort William and Inverness. Meanwhile, Gilkes Energy’s Earba project, expected to be the U.K.’s largest pumped storage hydro facility, will pump water from both Loch Leamhain and Loch Earba.

The three projects are expected to be completed by the early 2030s and will be the first PHS power projects since the Dinorwig hydropower plant was completed in north Wales in 1984. Dinorwig, also known colloquially as the “electric mountain”, can generate enough electricity to power nearly 2 million homes in a matter of seconds.

The U.K. Energy Minister, Michael Shanks, stated, “Forty years after the country’s last pumped storage facility, this government is getting Britain building again. The lesson from the conflict in Iran is clear: Britain cannot afford to remain at the mercy of volatile fossil fuel markets and leave families exposed to the next price shock.”

The new hydropower projects are expected to enhance the reliability of Britain’s renewable energy and help the country reduce dependence on fossil fuels once and for all. They will help reduce reliance on energy imports, support the government’s goals for a green transition, and enhance energy security through diversification. PHS projects also provide an alternative to lithium-ion battery storage, helping reduce imports of raw materials and batteries from China.

Tyler Durden Mon, 07/13/2026 - 05:00