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News From the Control Tower - 8/19/2020 Thumbnail

News From the Control Tower - 8/19/2020

News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.

News from the Control Tower this week includes:

1. U.S. Oil Refiners Accelerate Shift to Renewables in Downturn

Phillips 66 shift to biofuels at San Francisco-area oil refinery is industry’s latest re-evaluation in light of Covid-19 and tightening environmental regulations

2. The ‘Everything Bubble’ Isn’t Everything, and Maybe Not Even a Bubble

Investors aren’t irrationally buying just anything just because money is cheap: they are rationally buying the things that benefit

3. Saliva-based coronavirus test funded by NBA, NBPA gets emergency authorization from FDA

Innovation through unlikely collaborators - the NBA and Yale researchers. "Through some miracle, this is working," Grubaugh said. "It's sensitive. It's cheap. And now it's getting approval. I'm not quite sure how we ended up here from April."

4. Starting with Michigan, Sidewalk Infrastructure is looking to build roads specifically for autonomous cars

5. Concrete, a Centuries-Old Material, Gets a New Recipe

A building block in most construction projects, concrete is responsible for about 8 percent of global carbon emissions. Several companies are working to create a greener mix.

Bonus: The coronavirus pandemic affects some more than others...

The Rich Are Buying Compounds During the Pandemic

Here are some of 2020's most expensive real estate purchases.