• Maine Gov. Janet Mills vetoed a bill that would have paused new data center projects until late 2027.
• Mills cited her support for an existing project and said she wanted to study data center impacts.
• Lawmakers in at least 12 states have tried and failed to ban data centers as local resistance grows.

Another state-level effort to ban new data center development just failed, this time in Maine.

Maine Gov. Janet Mills on Friday vetoed a bill that would have put a pause on data centers in the state until late 2027. Mills said she supports a moratorium on data center projects but that the bill, which passed the state House and Senate his month, did not include an exemption for a project already underway.

"A moratorium is appropriate given the impacts of massive data centers in other states on the environment and on electricity rates," Mills said in a letter to the state legislature. "But the final version of this bill fails to allow for a specific project in the Town of Jay that enjoys strong local support from its host community and region."

A statement shared by her office said the $550 million data center redevelopment project was needed in Jay, where a paper mill closure in 2023 "eliminated hundreds of good-paying jobs and dealt a significant blow to the local economy."

The governor said she would have signed the bill had there been a carve-out for the project, which she said is expected to create over 800 construction jobs and at least 100 high-paying permanent jobs in addition to generating property tax revenue.

Mills, a Democrat who is running for US Senate in 2026, said she plans to issue an executive order to create a council to look at the impact of data centers in Maine.

"I believe it necessary and important to examine and plan for the potential impacts of large-scale data centers in Maine, as the use of artificial intelligence becomes more widespread," she said.

Lawmakers in at least 11 other states have also tried and failed to pass legislation that would temporarily ban new data center development, Business Insider previously reported.

The data center boom, fueled by Big Tech's AI ambitions, has sparked pockets of local resistance across the US amid concerns about energy consumption and impact on energy costs as well as the environment.

A Business Insider investigation found Maine had two data centers in the state as of last year.

• Citrini Research's "Analyst 3" is the toast of Wall Street over a wild report from the Strait of Hormuz.
• Market watchers praised the analyst's bravery after Citrini said it had sent him to the strait.
• They shared memes and compared him to everyone from James Bond and Ethan Hunt to Johnny English.

Finance types can't stop talking about Citrini Research's "Analyst #3" and what the firm says was a wild trip to the Strait of Hormuz.

Wall Street's denizens and market watchers across the globe rushed to X to commend the intrepid analyst with memes, GIFs, and kudos-filled posts.

Citrini's field report said that its analyst, who it says is fluent in four languages, traveled to the shipping channel at the heart of the US-Iran conflict with "a Pelican case full of equipment, a pack of Cuban cigars, $15,000 in cash and a roll of Zyn."

Analyst #3 wrote that he snuck recording equipment into Oman, faced questioning from border officials, intelligence agents, and the coast guard, and swam in the Strait of Hormuz with a cigar in his mouth and Iranian drones flying overhead.

Citrini included a disclaimer in its research note, saying that some names and details had been changed to "protect the safety of anonymous sources" and that quotes were based on the analyst's memory of conversations he had in Arabic.

The firm described this as "the best we could do from an accuracy standpoint," noting that the analyst's phone, which contained notes and photos from the trip, was held by authorities in Oman.

The analyst reported that there were significantly more vessels passing through the strait than tracking platforms show, and said the situation was closer to a "toll road" than a "blockade," with Iran demanding that every vessel secure its approval to pass through safely.

Citrini Research rose to prominence for betting against Silicon Valley Bank before the lender collapsed in early 2023 and helped trigger a regional-banking crisis. It also rattled markets this February when it warned AI could crash the stock market and spark a recession.

Roughly 20% of global oil and gas flows travel through the Strait of Hormuz, making it a key shipping channel for world energy markets and a major contributor to economic growth.

But traffic has plummeted since the breakout of the war between Iran and the US and Israel, as captains fear being struck by an Iranian drone, blasted by an underwater mine, or hit by a missile launched from the coast or a passing speedboat.

The disruptions have lit a fire under energy prices, stoking renewed fears of inflation and recession. Analyst #3's audacious decision to visit the contested waterway in the middle of a full-blown war has clearly impressed finance professionals, who've compared him to James Bond, Mission: Impossible's Ethan Hunt, and even the bumbling Johnny English.

Michael Burry, the investor of "The Big Short" fame, hailed Citrini's on-the-ground coverage on his Substack, describing it as "remarkable stuff."

• Larry Fink, CEO of BlackRock, says there are two "extreme" outcomes of the war in Iran.
• He said that if oil hits $150 a barrel, there will be a "stark and steep recession."
• But Fink said if Iran could be accepted by the international community, there would be growth.

Larry Fink laid out two outcomes from the Iran war: abundance and growth, or a global recession.

Speaking on the BBC's "Big Boss Interview" podcast on Wednesday, BlackRock CEO Fink said the outcome hinges on what happens next with Iran. If the country comes out of the war accepted by the global community and able to bring its oil back to market, that could boost supply and push prices lower.

But if Iran continues to pose a threat to trade, the Strait of Hormuz, and regional stability, oil prices could stay above $100 for the long term.

"Everybody has to recognize there's not going to be an outcome that's somewhere in the middle. It's going to either be two extremes," he said.

The US hasn't meaningfully imported crude or petroleum from Iran since 1979, according to the Energy Information Administration, after decades of sanctions.

Fink said a more open Iranian government could bring "Iranian oil back into the marketplace," helping drive prices back down to prewar levels and easing costs for consumers and businesses.

If that doesn't happen, though, and Iran doesn't move closer diplomatically to the US, Europe, and Gulf states, oil could climb toward $150 a barrel, with "profound implications" for the global economy.

"The $40 oil implication is one of abundance and growth. The other one is an outcome of probably a stark and steep recession," said Fink.

Rising energy prices are a 'regressive tax'

After the US and Israel launched airstrikes on Iran over three weeks ago, Iran has responded with strikes on Israel, Gulf states, US bases, and, crucially for oil markets, cargo vessels passing through the Strait of Hormuz.

This has led to a significant drop in traffic through the strait, which transits 20% of the world's oil and LNG supply. Oil has spiked by as much as 60% since the start of the war and has fluctuated with the perceived likelihood of peace negotiations — jumping on escalations, and falling when a solution looks more likely.

"Rising energy prices are a very regressive tax," Fink said. "It affects the poor more than the wealthy, because it's a larger component of their pocketbook."

The spike in oil prices is already being felt across the world — from the price of gas at the pump to flight tickets.

On Friday last week, the International Energy Agency outlined a range of measures that governments, businesses, and households could take to mitigate the impact of oil market disruptions.

These include working from home where possible and avoiding air travel.

Fink said countries, including the US, need to use the oil and gas that they have, but should "aggressively" lean into alternative energy sources, such as solar.

The BlackRock CEO said in the interview that he is a proponent of solar energy and that the US needs to "fully embrace solar."

Fink had said in his 2022 letter to CEOs said the next 1,000 unicorns will be companies making "the energy transition affordable for all consumers."

• The International Energy Agency released new guidance for people and governments as oil prices soar.
• First on the list of recommendations: Work from home if you can.
• The IEA also suggests minimizing air travel and driving more slowly on the highway.

The International Energy Agency, one of the world's most important energy groups, has issued 10 measures for governments, businesses, and households to take immediately as oil prices soar.

First on the list: Work from home where possible. This will reduce the use of oil used on commutes, the IEA wrote on its website on Friday.

Other measures the IEA suggests include reducing highway speed limits by at least six miles per hour, car sharing, cutting air travel, and using public transport more.

The IEA said that cutting down on business flights "can quickly ease pressure on jet fuel markets."

The agency also suggests switching to electric cooking and shifting bi-fuel and converted vehicles from liquefied petroleum gas (LPG) to gasoline where possible.

The price of Brent crude, the international oil benchmark, is around $106 per barrel on Friday, having risen to nearly $120 a barrel on Thursday following an attack by Iran on a major liquefied natural gas complex in Qatar.

The war in the Middle East continues to disrupt global supply chains, sending oil prices above $100 a barrel for the first time since 2022.

"The war in the Middle East is creating a major energy crisis, including the largest supply disruption in the history of the global oil market. In the absence of a swift resolution, the impacts on energy markets and economies are set to become more and more severe," IEA Executive Director Fatih Birol said in a statement.

The IEA advises governments and businesses on how to ensure energy systems are stable, sustainable, and affordable. The agency comprises 32 member countries, including the US and the UK.

It warned that the new measures, while potentially effective, cannot completely offset the disruption to the energy markets caused by the war.

"They can play a meaningful role in lowering costs for consumers, reducing markets strains and preserving fuels for essential uses until normal flows resume," it said.

Some countries have already taken measures to reduce energy use, especially those reliant on oil from the Middle East. The Indian government said in early March that non-domestic supplies from imported LPG were being prioritized for essential sectors.

The spike in crude has led to rising fuel costs for Americans. Although the US has not issued any guidance on how to lessen the impact, Business Insider's Sarah E. Needleman and Tim Paradis reported that some companies are allowing employees to work more from home.

• Nations across the world are taking steps to mitigate the impact of oil price spikes.
• These include flexible working arrangements and reducing non-essential journeys.
• Countries heavily reliant on Middle Eastern oil are particularly vulnerable to the war's impact.

Governments around the world are urging people to cut back on energy use amid surging oil prices.

Brent crude, the global benchmark, has climbed above $100 a barrel for the first time since 2022 and has held there for nearly two weeks.

The spike follows violent attacks on ships in the Strait of Hormuz since the outbreak of the Iran war and strikes on gas-related infrastructure, raising fears of prolonged disruptions to a route that carries roughly 20% of the world's supply chain.

In response, countries are rolling out measures to conserve fuel and protect domestic supplies. Thailand, for example, has said it will halt fuel exports to maintain its own energy demands, while other countries are asking citizens to pare back their consumption.

Here are some of the steps governments and international organizations are telling people to take.

International Energy Agency

The International Energy Agency, one of the world's most important energy groups, has issued 10 measures it says governments, businesses, and consumers can take immediately to help ease the impact of disruptions in oil markets.

These include working from home, avoiding air travel, and encouraging the use of electric cooking equipment.

Other steps include reducing highway speed limits by at least six miles per hour, car sharing, cutting air travel, and using public transport more.

The IEA said in the report that "the demand-side measures highlighted in the report cannot match the scale of disrupted supply."

However, it said "they can play a meaningful role in lowering costs for consumers, reducing markets strains and preserving fuels for essential uses until normal flows resume."

Philippines

The Philippines has taken several measures in order to bring down energy use, including a four-day workweek for government staff and orders to cut the use of electricity and fuel costs in government agencies.

Government offices were told in early March to implement flexible working arrangements where practical, turn off lights and computers during lunch breaks, and adjust air conditioning unit thermostats to no lower than 75 degrees.

President Ferdinand Marcos Jr. said in a video message that the four-day workweek would be temporary and does not include emergency services.

"With the expected global oil price increase, the government is preparing measures to reduce its impact on Filipino families," the Facebook caption for the video said.

The Philippines is vulnerable to disruptions caused by the conflict, as it "relies on the Middle East for almost 90% of its oil supply," according to ING Think.

On March 18, Marcos said that the country is seeking alternative sources of petroleum products and asked the public not to worry.

"We are trying to find different methods to provide subsidies to give assistance," said Marcos in a press address. "The problem is that oil prices are very volatile. We can't anticipate them. So we are still adjusting right now."

Australia

While no official rationing has been implemented in Australia, local media in at least two of the country's states reported that some fuel stations had begun limiting the amount of fuel customers can buy.

In comments to the media on Monday, March 9, Australia's energy minister Chris Bowen said that there is no shortage of fuel in Australia, but there are "some supply chain issues which are really being caused by a spike in demand of people seeking to buy extra diesel."

United Kingdom

The president of the AA, the UK's largest motoring organization, advised drivers on Monday, March 9, that although they "should not change their refuelling habits," they could "consider cutting out some non-essential journeys and changing their driving style to conserve fuel."

Edmund King, AA's president, added: "Any time Brent Crude passes 100 dollars per barrel raises concern across the markets, for the haulage industry and drivers.

"There will be gradual increases in pump prices, but this shouldn't happen overnight as fuel has been purchased at previous prices."

Keir Starmer, the UK prime minister, said that the government would support citizens during the oil price spike.

"No matter the headwinds, supporting working people and their families with the cost of living is always top of my mind," he said.

Thailand

Prime Minister Anutin Charnvirakul urged citizens not to stockpile fuel. His comments came after long lines formed at gas stations across the country last week.

In early March, Anutin and the country's energy minister gave assurances that the diesel price would be capped for at least 15 days. He said that the Commerce Ministry was closely monitoring oil prices to prevent customer exploitation.

"Stockpiling fuel is dangerous. If you store it at home, it could accidentally cause fire — it could lead to all sorts of problems," he said. "There is no need to do that today."

India

The Indian government invoked emergency powers on March 10 to divert liquefied petroleum gas supplies away from industrial users and toward households.

This was an expansion of previous measures. On March 9, India had ordered oil refineries to produce more LPG and said it was prioritizing that supply for households.

India's Ministry of Petroleum and Natural Gas said in a tweet on Monday that non-domestic supplies from imported LPG were being prioritized for essential sectors, such as hospitals and educational institutions.

Vietnam

Vietnam has urged local businesses to encourage employees to work from home in order to save fuel.

This comes after the country said it would remove tariffs on fuel imports.

Pakistan

Pakistan has ordered measures to conserve fuel and reduce government spending, including implementing a four-day work week, having half of public sector employees work from home, and closing schools for two weeks.

Other measures include a pause on salaries for cabinet ministers and cutting government spending by 20%, Prime Minister Shehbaz Sharif announced on March 10.

Sri Lanka

Sri Lanka has made Wednesdays a public holiday to conserve fuel as the country braces for potential fuel shortages, according to the BBC.

"We must prepare for the worst, but hope for the best," President Anura Kumara Dissanayake said on March 9.

The shortened workweek will apply to schools and universities, but "essential" services like hospitals will keep the lights on.

Denmark

Denmark is urging citizens to reduce fuel.

"What the Danes should please, please, please do is that if there is any energy consumption that you can do without, if it is not strictly necessary to drive the car, then don't do it," Lars Aagaard, Denmark's energy and utilities minister, said during an interview with a local broadcaster on Wednesday.

"Firstly, it can be felt in the private wallet, and secondly, it can help stretch our reserves so that they last longer," Aagaard added.

Bangladesh

Bangladesh's university students just got an early start to their Ramadan holidays, thanks to fuel conservation measures.

The country announced by mid-March that main colleges could cancel classes until later in the month. The government has shut down campuses completely to save electricity and has started imposing temporary blackouts for other facilities.

Egypt

Egypt is enforcing some lifestyle changes to conserve gas and oil.

For a country that is used to shopping and dining well into the night, malls, restaurants, and retailers are being asked to shut down at 9 p.m. on weekdays starting on March 28.

The country also announced plans to turn off illuminated billboards and reduce public lighting, and to close government buildings by 6 p.m.

Spain

Spain's government has approved a $5.8 billion aid package to ease the economic effects of the war in the Middle East, Bloomberg reported.

The plan includes reducing VAT on electricity and gas from 21% to 10%, slashing the special electricity tax from 5% to 0.5%, and suspending the tax on electricity production, Prime Minister Pedro Sánchez said.

A subsidy of 20 cents per liter of fuel is being introduced for transport operators, farmers, and fishmongers, while the government will cover 80% of the electricity-grid charges for energy-intensive industries.

• Russia has clawed back about 10% of its 2026 oil trade deficit this month, Zelenskyy said.
• Two weeks of war in the Middle East earned Moscow about $10 billion, he said, citing Ukrainian intel.
• The Trump administration is also easing sanctions on Russian oil for about 4 weeks.

Ukrainian President Volodymyr Zelenskyy said on Sunday that Russia had earned $10 billion in two weeks of the US-Israeli war with Iran.

That's about 10% of what Moscow has lost in the oil trade so far this year, he said in a post on X.

Zelenskyy wrote that Ukrainian intelligence reports indicated that global oil sanctions and Kyiv's strikes on Russian energy infrastructure had pushed Moscow's deficit for 2026 to over $100 billion.

"Now we see they have made around 10 billion over two weeks of the war in the Middle East," Zelenskyy wrote. "This is really dangerous. It gives Putin more confidence that he can continue the war."

"The situation around Iran brings him more money," Zelenskyy added of Russia's president, Vladimir Putin.

His remarks come as oil prices skyrocketed in the weeks after the US and Israel launched Operation Epic Fury on February 28. Both have heavily bombed Iran's oil infrastructure, which produces crude primarily for Asian markets, while Tehran's retaliatory strikes have also damaged energy facilities in the Middle East.

More critically, Tehran is effectively stalling traffic in the Strait of Hormuz, a vital shipping lane for about a fifth of the world's oil, with a string of attacks on commercial ships plying the waterway.

Russia, meanwhile, stands to gain from rising oil prices as one of the world's largest exporters, though its dominance has been partially stymied by Western sanctions to punish and inhibit its full-scale invasion of Ukraine.

The Trump administration also announced on Friday that it was temporarily easing those sanctions to relieve the global oil supply, allowing trade of Russian crude for roughly four weeks.

In his post, Zelenskyy also warned that easing sanctions would be "helpful" to Putin.

Oil and gas are crucial pillars of the Russian economy, even as it faces global sanctions, and much of the government's revenue comes from taxing these industries.

In January and February, for example, Moscow said it earned about $$10.2 billion in both months from oil and gas revenue, down 47% year-on-year when accounting for currency swings. Its total revenues for the same period were about $58.7 billion, its finance ministry said.

• Data centers power the AI revolution, and are sprouting all over the US.
• They can also be a drain on water and energy, and face opposition in many towns.
• A new Pew Research Center survey found that Americans who know about data centers don't like them.

There are over 1,200 data centers scattered across the United States, and thanks to the AI boom, many more are on the way.

Those data centers also, it seems, confirm the adage "familiarity breeds contempt."

A new survey from the Pew Research Council, conducted in January and published Thursday, found that the more Americans learn about data centers — and their effects on home energy costs, quality of life, the environment, local jobs, and tax revenue — the more cynical they feel about them.

"Two-thirds of adults who have heard a lot about data centers say they're mostly bad for home energy costs, compared with 42% of those who have heard a little," the center reported. "And 63% of those who have heard a lot about the facilities say they're mostly bad for the environment, compared with 48% of those who have heard a little."

Pew found that 25% of adults know "a lot" about data centers, while 50% said "a little" and 25% said "nothing at all." It surveyed 8,500 Americans for the report.

While data centers have been around for decades, their numbers are skyrocketing as companies like Amazon, Microsoft, Meta, and others race to develop ever more intelligent AI models.

Companies like Oracle, for example, will invest $500 billion over four years in AI infrastructure for OpenAI in a venture called Stargate, which is backed by the Trump administration. The president has made data center construction a key pillar of his administration's strategy to defeat China in the race to develop advanced artificial intelligence.

Many Americans outside Silicon Valley, however, feel as excited about another new data center as they do about AI overall. Some communities are now pushing back, citing concerns about energy costs and the environment. Tensions have flared at protests, city hall meetings, and on Capitol Hill.

In response to these growing concerns, tech leaders said this month they would cover a greater share of data center energy costs during a visit to the White House.

"They're going to be making their own electricity," Trump said of the tech companies. "They're not going to be taking from the grid."

Those companies signed a "pledge" to provide their own power, which, in the end, is voluntary and includes no repercussions if they don't comply.