LEADERSHIP

"Never doubt that a small group of thoughtful, concerned citizens can change the world. Indeed, it is the only thing that ever has."

— Margaret Mead

Unleashing the Power of Our Collective Purpose!

In the spirit of Margaret Mead's profound words, let's delve into the significance of collective action and the potential it holds to shape the world around us.

The Power of Unity: In our shared mission, unity is our greatest strength. As we come together, each bringing our unique perspectives and talents, we form a force capable of creating meaningful change. It's a reminder that no effort is too small, and every thoughtful action contributes to the larger narrative of transformation.

Taking Thoughtful Action: Thoughtful citizenship involves more than just going through the motions; it's about making intentional decisions that align with our shared purpose. Whether it's a small act of kindness, an innovative solution to a challenge, or a collaborative effort to achieve a goal, each action is a step toward our collective impact.

Inspiration in Action: Our actions don't just impact the present; they have a ripple effect on the future. By being agents of change, we inspire others to join our cause. Our small group becomes a catalyst for a larger movement, influencing the world around us in ways we might not have initially imagined.

Crafting Our Narrative: Each day, we contribute to a story of positive change. The narrative we're crafting together is one of determination, resilience, and a shared commitment to making a difference. It's a story where every individual's role is crucial, and the power of our collective purpose is evident.

Closing Thoughts: As we face the tasks of today, let's carry the wisdom of Margaret Mead with us. Remember, our thoughtful actions, when united, can change the world. Stay focused, stay inspired, and let's continue this journey of meaningful impact together.

— Wayne Jensen

Presented by:

Wannemacher Jensen Architects, Inc.

INNOVATION

New York Achieves Milestone: First Offshore Wind Turbine Installed for South Fork Wind, Paving the Way for a Clean Energy Future

Governor Kathy Hochul has announced the successful installation of the first offshore wind turbine for South Fork Wind, a significant achievement for New York's offshore wind development.

This marks the completion of what will be the first utility-scale wind farm in the United States located in federal waters. The South Fork Wind project, once fully operational, will play a crucial role in addressing Long Island's electrical grid challenges, providing renewable energy to power around 70,000 homes and eliminating up to six million tons of carbon emissions annually.

Key highlights of the announcement include:

1. Reliability Solution for Long Island: The 130-megawatt offshore wind farm addresses a reliability challenge for Long Island's electrical grid, contributing to the state's Climate Leadership and Community Protection Act goal to install nine gigawatts of offshore wind by 2035.

2. Renewable Energy Generation: The wind farm will generate enough renewable energy to power approximately 70,000 Long Island homes, emphasizing New York's commitment to a clean energy future.

3. Carbon Emission Reduction: The project is expected to eliminate up to six million tons of carbon emissions over 25 years, equivalent to taking 60,000 cars off the road annually.

4. Support for Local Economy: The construction of South Fork Wind has involved hundreds of U.S. workers and three Northeast ports, creating local union jobs and establishing a domestic supply chain for offshore wind.

5. Milestone for Offshore Wind Industry: The completion of the first turbine installation represents a significant milestone in New York State's efforts to advance clean, renewable offshore wind energy.

6. Community and Environmental Impact: The project aligns with the state's climate goals, creating jobs, strengthening the energy grid's reliability, and ensuring cleaner power sources for New Yorkers.

The South Fork Wind project is a collaborative effort involving Ørsted, Eversource, and the Long Island Power Authority (LIPA). The installation of all 12 Siemens Gamesa wind turbine generators is expected to be completed by the end of 2023 or early 2024. The announcement underscores New York's commitment to a sustainable and resilient future, combining innovation and sustainability to shape a brighter, greener tomorrow.

TECHNOLOGY

Kentucky-Based Ramaco Resources Acquires Patent for Coal-to-Products Technology, Paving the Way for Innovative Applications in Carbon Nanosheets

Ramaco Resources, a Kentucky-based metallurgic coal miner, has acquired a patent from the US Department of Energy’s research institution, the National Energy Technology Laboratory (NETL), for the commercial development of its coal-to-products technology.

The company's patented process converts coal and coal-related mining waste into high-quality, affordable carbon nanosheets, also known as graphene. These carbon nanosheets, which are atomically thin pieces of carbon, can be used to enhance the strength of composite materials like concrete and improve the performance of battery electrodes used in electric vehicles and defense technologies.

Key points:

1. Coal-to-Products Technology: Ramaco Resources' patented technology focuses on transforming coal into carbon nanosheets, providing an innovative approach to utilizing coal for the development of advanced carbon products and materials.

2. Diverse Applications: The carbon nanosheets produced through this process can find applications in a variety of sectors, including the manufacturing of batteries, building and construction materials, and various electronic devices. The technology offers the potential to create high-value products from coal.

3. Economic and Strategic Significance: The large-scale production of carbon nanosheets through a simple one-reactor process with a high product yield makes the technology economically attractive. Additionally, carbon nanosheets have strategic importance for the US economy and defense, offering an alternative to materials subject to export restrictions.

4. Ecosystem Development: Ramaco Carbon, a subsidiary of Ramaco Resources, is actively involved in carbon tech innovation and is building an ecosystem, referred to as Carbon Valley in Wyoming, to foster partnerships with laboratories, researchers, and manufacturers.

5. Focus on Domestic Resources: The use of inexpensive domestic coal as the base manufacturing feedstock enhances the economic viability of the technology, aligning with efforts to explore the potential of coal waste, coal ash, and acid mine drainage for the development of critical materials.

6. Biden Administration's Clean Energy Initiatives: The Biden administration has shown interest in advancing clean energy projects, including those that repurpose coal-related resources for the production of rare earth elements. The government has allocated funds to support clean energy initiatives on current and former coal mine sites.

Ramaco Resources' acquisition of the patent and its focus on coal-to-products technology reflect efforts to diversify the use of coal resources and contribute to cleaner and economically viable solutions.

Motivation trumps money when it comes to job satisfaction.

What do you think would make you happier at work?

ECONOMY

Goldman Sachs Research Predicts Strong US Economic Performance in 2024, Exceeding Consensus Expectations

Goldman Sachs Research predicts that the US economy will outperform consensus expectations in 2024, with a projected GDP expansion of 2.1% on a full-year basis.

This surpasses the consensus economist forecast of 1%. The research affirms the view that the likelihood of a US recession over the next 12 months is low, estimated at just 15%. The report titled "2024 US Economic Outlook: Final Descent" outlines key factors contributing to the positive economic outlook and provides insights into the trajectory of growth and inflation.

Key Points:

1. Low Recession Probability: Goldman Sachs Research maintains that the risk of a US recession is much lower than commonly perceived, emphasizing a 15% probability over the next 12 months. This contrasts with earlier concerns about labor market overheating and high inflation.

2. Resolution of Economic Challenges: The report suggests that challenges related to labor market overheating and high inflation have been largely resolved. The conditions for inflation to return to the target are in place, and the impacts of monetary and fiscal tightening are considered to be largely behind.

3. Inflation and Labor Market Dynamics: The research explores how the US has managed to achieve both strong economic growth and a reduction in inflation. Factors contributing to this include a recovery in labor supply, fading or reversing transitory influences on wages and prices, and the incentivization of massive construction of rental housing to address high prices.

4. Beveridge Curve Dynamics: The report discusses the role of the Beveridge curve, highlighting that extremely tight labor markets create a feedback loop between workers quitting and employers posting more job openings. The interplay can heat up or cool down quickly, influencing labor demand.

5. Inflation Fight: Goldman Sachs Research suggests that the challenging phase of the inflation fight is largely over. The unemployment rate has remained relatively stable, but other measures of labor market tightness have decreased, aligning to bring inflation back to target levels.

6. Fed's Rate Outlook: With inflation falling and a buoyant job market, the research forecasts that the Federal Reserve will keep rates steady until a rate cut in the last quarter of 2024. Subsequent rate cuts are expected, leading to a fed funds rate of 3.5-3.75% by the second quarter of 2026.

7. Factors Driving Economic Growth in 2024: The main drivers of US economic growth in 2024 include strong consumer spending, with real disposable income expected to grow nearly 3%, and business investment slowing but showing growth. External factors such as recovery in foreign economic growth are also expected to boost demand for US exports.

Goldman Sachs' positive outlook for the US economy in 2024 is based on a combination of factors, including the resolution of previous challenges, robust consumer spending, and expectations of steady growth in various sectors.

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SAFETY

SpaceX Faces Scrutiny Over Workplace Injuries and Safety Practices

SpaceX, the aerospace manufacturer and space transportation company founded by Elon Musk, is facing scrutiny over workplace injuries and safety practices, according to a report by Reuters.

The investigation reveals at least 600 previously unreported workplace injuries, including crushed limbs, amputations, electrocutions, head and eye wounds, and one death. The injuries were documented through court documents, employee medical records, state workers' compensation claims, and emergency call records.

Key points from the report:

1. Nature of Injuries: The injuries documented include crushed limbs, amputations, electrocutions, head and eye wounds, and one reported death. The injuries were found through an examination of court documents, medical records, compensation claims, and emergency call records.

2. Safety Practices: SpaceX employees have raised concerns about the company's safety practices, attributing the high injury rates to a chaotic workplace where under-trained and overtired staff often skipped basic safety procedures to meet aggressive deadlines.

3. Elon Musk's Influence: The report suggests that Elon Musk's push for rapid space colonization and his desire to reach Mars quickly have permeated every part of the company. The company is accused of casting aside anything that could stand in the way of accomplishing its goals, including worker safety.

4. Injury Rates: Injury rates at three major SpaceX industrial facilities were found to be significantly higher than the space-industry average. The 2022 injury rate at SpaceX's manufacturing-and-launch facility near Brownsville, Texas, was six times higher than the industry average.

5. Failure to Report: SpaceX sites failed to report annual injury-and-illness statistics to regulators for several years. Some sites began filing the data in 2021 or 2022. The data for 2022 revealed injury rates far exceeding the space-industry average at three major facilities.

6. Regulatory Oversight: OSHA (Occupational Safety and Health Administration) and CalOSHA (California Division of Occupational Safety and Health) have fined SpaceX a total of $50,836 for violations related to one worker's death and seven serious safety incidents. However, the fines are considered modest, and there are concerns about the effectiveness of regulatory oversight.

7. Space Industry Challenges: The report suggests that SpaceX's safety record highlights the perils of working in the lightly regulated and fast-expanding U.S. space industry. Other major space companies have also faced challenges in reporting annual injury data to OSHA.

8. SpaceX Response: SpaceX defended its safety practices in written responses to OSHA and CalOSHA, arguing that it provides extensive safety training, and certain accidents were not reasonably foreseeable.

9. Elon Musk's Behavior: Elon Musk's behavior, including playing with a flamethrower during visits to SpaceX sites, has been criticized. Former employees described incidents where Musk would play with the flamethrower in close-quarters office settings.

10. Public Perception: The report raises questions about worker safety in the space industry and emphasizes the need for companies to prioritize safety even in innovative and fast-paced environments.

It's important to note that SpaceX's achievements, including being the first private company to send humans into orbit and its success in reducing launch costs with reusable rockets, have also been acknowledged. However, concerns about worker safety and regulatory oversight are now under increased scrutiny.