🙏THANK YOU🙏 "A comprehensive vision for a zero-carbon global energy system ... take time and listen ... It's hugely ambitious" @MLiebreich "One end-to-end way to put it all together" @bataille_chris "Efficient and logical ... these are actually new ideas" @ElephantEating

ELON MUSK: “We’re going to have universal high income. We’ll basically just issue money to people." "AI and robots are going to make so much stuff and provide so many services that they’ll run out of things to do for humans." "Money will stop being relevant at some point in the future." "AI won’t use human currency. It will care about power and mass: wattage and tonnage.” ME: “So just as you’re becoming a multi-trillionaire, money starts to have less value?” ELON: “Yeah, pretty much.”

Sure you can earn a billion dollars. I've been teaching people how to do it for 20 years. The way you do it is to start a company that grows fast. You don't have to do anything bad to make a company grow fast. You just have to make something people want. paulgraham.com/ace.html

The past and the future.

NASA is sending astronauts back to the moon while SpaceX prepares the biggest IPO ever. Tesla Model S/X discontinued to give way for Robotaxis and humanoid robot production. Everyone has a new friend named Claude. Feels like an exciting time to be alive 😁

Wow, decreasing demand rather than increasing demand seems to be the culprit

Best selling vehicles by state ... There is not a single state where sedans are #1

It is impossible to overstate the significance of this chart. From nearly zero to: ☑️The world's largest LNG exporter ☑️The largest supplier of LNG to Europe ☑️Enabler of Europe's efforts to rid itself of Russian gas IN LESS THAN A DECADE. 🇺🇸

This is such a good oral history of what went wrong re: climate movement. Basically, nuance lost to panic. youtu.be/OybheweZGxw?si=uT2P…

For those who've experienced both – which feels more profound: 2000 internet boom or 2026 AI boom?

Hydrogen ... It's really hard to get the cost of mitigation < $100/t CO2. ... I did it on paper once. Oh well.

Many data centers claim to use clean energy to power their operations. But in a report we published today, we found that’s increasingly not true. Instead data centers are using natural gas—and doing so in very strange ways. It can now take as long as 7 years to connect a data center to the power grid. Beginning about a year ago, developers began pursuing new power strategies. Rather than wait, many data centers are now building their own power plants. In what we believe is the most comprehensive analysis of this trend to date, we identified 46 data centers with a combined capacity of 56 GW that plan to build their own power "behind-the-meter." That represents roughly 30% of all planned data center capacity in the United States, according to Cleanview's project tracker. In the last year, this trend has gone from niche to mainstream. 90% of the projects we identified—representing approximately 50 GW—were announced in 2025 alone. When we began this research, we were skeptical of many of these projects—as all analysts should be. Data center developers often pursue multiple projects with the intention of only building one (the "phantom project" phenomenon). Turbine manufacturers have said lead times for their equipment now stretch as long as 5-7 years. But we think much of this capacity is likely to come online soon. What makes our report unique is that we didn't rely on press releases, which show what developers say they are going to build. Instead we tracked down actual equipment deals and permits showing site plans. This revealed a very different—and surprising—story. Most of the press releases we found mentioned "all of the above" strategies that include renewables. But ~75% of the generation equipment we could identify (23 GW) was natural gas-powered. Data centers aren't planning to use your typical gas turbines either—hence why many are able to install them this year or next year. Developers are instead turning to: - Mobile gas generators strapped to semitrucks - Aeroderivative turbines originally designed for aircraft and warships - Reciprocating engines that ramp fast, but are less efficient - Refurbished turbines acquired from industrial operations We even came across a company that typically sells cruise ship engines that struck a deal to power a data center. On the surface this makes no sense. These are less efficient technologies and the power will cost far more. But an AI data center can earn as much as $10-12 billion per GW. Getting online a few years early can result in a windfall. I track data centers and power projects for a living and all of this shocked me. The public narrative is that data centers are waiting for grid connections and 5-7 year turbine backlogs. But that narrative is lagging what is actually happening on the ground in rural counties across the country. I'm planning to write much more about this. But in the meantime, you can head to Cleanview's website to get the full report.

My latest on enhanced oil recovery (EOR) A decade's old technology that can slow the decline of shale production, decrease greenfield drilling, protect domestic energy security, and lower emissions? open.substack.com/pub/carbon…

Everyday, I am more impressed with AI's capabilities. I feel like I have a team of PhD students at my disposal. They never complain about my questions. They never get tired. And they answer instantaneously. Remarkable.

Most people don't realize that U.S. LNG exports are now an important balancing tool for the U.S. natural gas market. Flexibility in action. To wit: Daily U.S. LNG export demand has fallen 20% during the peak cold. LNG feedgas supply can be redirected to the domestic market.

Imagine telling your 2008 self that gas prices in 2026 are $1.60 when adjusted for inflation ... And also the standard Camry gets 50 mpg. So compared to that oldsmobile you had that only got 25 mpg, that's roughly 5x less cost per mile.

Nothing has done more than natural gas to reduce CO2 emissions in the U.S. power sector.

Just paid $2.00/gallon of gasoline, which is roughly the equivalent of buying gasoline for $1.03 back in 1999. Truly incredible.

"Capitalism created the possibility of the win win win. It used to be a zero sum game where somebody won, somebody else lost. The biggest mistake people make, intellectuals in particular, they still think we're in a zero sum world. They're obsessed with some billionaires because Bernie Sanders thinks that Jeff Bezos and Elon Musk somehow stole the money from the people. They don't understand that it's this prosperity machine that's creating more, not just for those billionaires, but for everything that they're touching. They're creating value for their customers, they're creating value for their employees. Their suppliers are flourishing, their investors are seeing their capital go up. It can be reinvested and compound. All philanthropy ultimately comes from business. That's where the profits are. Where does all the taxes come from? It ultimately comes from business as well. This is the engine that's lifting humanity out. The entrepreneurs are the drivers of that engine. Somebody like Elon Musk, he gets a very, very, very tiny sliver of the value that he creates for the whole world." —@iamjohnmackey