Ed Ballard

And the cyclic deals with the recycling companies to take those hard drives, slice off the corners which contain the magnets, and then process those to remove the earths so that they can be refined once again into new metal.

There are various different approaches out there, but the key is who can do this in a cost-effective way.

I would say that probably it's not going to be enough on its own to meet all of, say, US demand.

Because if you think about it mathematically, you can only recycle what's already out there, right?

So a lot of, like, we think of all the old phones you might have sitting in a drawer at home.

Each of those has got a tiny little magnet in them.

And so lots of this stuff is never going to be recycled.

It's just going to sort of languish.

So the amount you can recycle is always going to be less than...

what's already there.

But that doesn't mean it can't be a kind of significant contribution to US demand.

So it was always expected that the flow of new offshore wind projects would pretty much dry up with Trump in charge. But the sector was really rocked by the suspension of the Empire Wind project because it was already so far advanced. Approvals were granted last year and Equinor had invested $2.5 billion as of March.

So it was always expected that the flow of new offshore wind projects would pretty much dry up with Trump in charge. But the sector was really rocked by the suspension of the Empire Wind project because it was already so far advanced. Approvals were granted last year and Equinor had invested $2.5 billion as of March.

So folks were really worried that other already approved projects might be cancelled as well.

So folks were really worried that other already approved projects might be cancelled as well.

Clearly, this is a major relief for the offshore wind sector in the US. Just looking at this one project, the fact that Empire Wind is back on again will secure jobs for an estimated 1,500 people and provide enough power for half a million homes in New York just in its first phase.

Clearly, this is a major relief for the offshore wind sector in the US. Just looking at this one project, the fact that Empire Wind is back on again will secure jobs for an estimated 1,500 people and provide enough power for half a million homes in New York just in its first phase.

This will probably give other kinds of investors more confidence to invest in energy projects because the idea that the government could cancel projects that are already well into construction is a deterrent against committing capital.

This will probably give other kinds of investors more confidence to invest in energy projects because the idea that the government could cancel projects that are already well into construction is a deterrent against committing capital.

So these are some pretty punchy headline numbers, and no one is going to be paying a tariff rate of 3,500%, which is the rate that was imposed on some solar cells from Cambodia. At the low end, it's about 41%, which might be more manageable. Let's take a step back.