By Jo Nova
The Biggest Banker in the world has flipped
Way back in his 2021 annual CEO letter, Larry Fink, CEO of BlackRock, wrote: “No issue ranks higher than climate change.” It will reshape global capital flows, he said, and declared “…anyone can see the impact of climate change in the natural disasters in California or Florida.”
Now though, nevermind about global extinctions and flash floods. Fink just spoke at the Davos ski club for billionaires, and declared that we need “trillions of dollars” of investment for AI. Data centres, he said, are rapidly expanding — one technology company he spoke to said that “its data centres currently use about 5 gigawatts, but by 2030 it expects to need 30 gigawatts.”
But like a true banker, he doesn’t see a backflip, he sees only investment opportunities — the world is short of power he says. (He doesn’t say that this is in large part because BlackRock leaned on companies and countries all over the world to abandon fossil fuels.) Fink helped create the energy shortage that he now calls an investment opportunity. BlackRock is the largest asset manager in the world, controlling $10 Trillion dollars in assets, or five times Australia’s GDP. When that much money talks, everyone listens.
Now Larry Fink throws wind and solar under the bus
He’s matter-of-fact, with a straight face, almost like he never pushed intermittent generators:
Fink: “At the same time, this represents a huge investment opportunity. The world is going to be short of power. And to supply these data centres, you cannot rely solely on intermittent sources like wind and solar. You need dispatchable power, because these data centres cannot simply turn on and off.”
Larry Fink slides the bomb in after 45 mins 30 seconds:
This man probably did more than any single person to pump up the Great Renewables Bubble that peaked in 2022. He presumably has taken his profits long before this speech — leaving mums and dads and pension funds holding the bag with investments in unreliable, expensive generators.
Transcript of Larry Fink at the WEF:
“AI is fundamentally a large-capitalisation business. At the moment, if you look at the S&P 500, the ten largest companies account for about 38% of the index. If AI develops the way many expect, and if you look at the scale of reinvestment these companies are already making, that share could rise to 50%. We may end up with an “S&P 10” and an “S&P 490”. That alone shows the power of what is coming.
To properly build out AI, we are talking about trillions of dollars of investment. Data centres today might consume around 200 megawatts, but new facilities are being planned at the scale of one gigawatt — that is the amount of power used by a city. One technology company I spoke with last week said that its data centres currently use about 5 gigawatts, but by 2030 it expects to need 30 gigawatts.
The amount of power required to run AI will have a huge impact on society. Where is that electricity going to come from? Are we going to take it from the existing grid?
What does this mean for energy prices for everyone else? These are major societal questions that we have not really addressed. Forget the uses of AI for a moment — just generating the power to run it requires enormous amounts of energy.
At the same time, this represents a huge investment opportunity. The world is going to be short of power. And to supply these data centres, you cannot rely solely on intermittent sources like wind and solar. You need dispatchable power, because these data centres cannot simply turn on and off.
Photo by eflon on Flickr. Adapted. CC by 2.0.
I think Australian superannuation (pension funds) are in great danger because the Australian Government strongly encouraged them to “invest” in the unreliables rather than proper power generators.
But Australia and Australians (present company excepted) seem very slow in getting the message and defiantly hang on to primitive intermittent technologies e.g. wind power became obsolete in 1712 as soon as Newcomen invented the first commercially viable steam engine. And the Government is trying to revert us to even more of it.
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I just checked my Super investments – only La Trobe no other Super funds.
I’m lucky I can say who I want to invest in, I bought a chunk of silver in November – nice big Christmas bonus!!
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Those industry funds, run by the trade unions, will be the first to suffer losses. The huge funds being spent on the unreliables if invested in new coal plants would have made Australia great. We still have a chance if only we had the leadership.
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Indeed they are.
And so too the Chinese and other investment funds which have “invested” in those government guarantees.
Does anybody remember prospective purchasers of the Eraring power station seeking a government guarantee that it would close by the nominated date?
Not so long ago, but this is, I think, the second extension since then.
I predict that the Eraring power station will. still be operating with regular maintenance in 2050.
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Remember the Vales Point coal power station in NSW which the Government thought was a “stranded asset” and sold for $1 million, presumably scrap and land value?
If I’d known it was for sale for that price I’d have sold my house and purchased it myself.
Gulag AI summary:
I wonder what it’s worth today and if its life will be extended beyond 2029?
It’s only 48 years old, not hugely old by power station standards. I’m sure it could get another two decades out of it if well maintained, more if refurbished, especially as it’s unlikely Australia will ever build any more power stations, unless One Nation is elected.
We have to look after the few power stations we have left. And remember, it’s Australia. A country that now seems to pride itself on stupidity and backwardness and no freedom.
If a decision were made today, it would take at least 10 to 20 years before any new power station was online and producing power. In other words, it’s just not going to happen unless conservatives like One Nation are elected and even then it will be a struggle if state governments remain Green Labor.
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The latest myth buster is the extension of operating life for the biggest generator capacity coal fired power station in NSW, Eraring near Newcastle, Hunter Region.
The NSW State Government realised at long last that controllable generators are essential to supply most of the time because wind and solar intermittent operations cannot.
After paying the owners a substantial subsidy to extend the operating life for a couple of years the owners recently announced they will extend that to 2029 and asked for no more government-taxpayer funding support, the maintained and repaired Eraring Power Station is not a profitable asset.
It is already 50 years old.
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correction: the now repaired and maintained Eraring is a profitable asset
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Interestingly two important technologies of the Left are A) unreliables and B) AI.
A) Unreliables are used to destroy the woke Western economies.
B) AI is used to promote Leftist propaganda to the masses due to it being trained on Left-compromised training sources like Wikipedia and woke people (with exceptions like Musk’s Grok) and it is also increasingly used by Left Governments to control information flows and trace, track etc. people with unapproved thoughts.
E.g. Most Labor/Green politicians and those who vote for them look to China as their ideal societal and police state model to be emulated where AI is being used for dystopian purposes, rather than looking toward free countries like the United States and the freedom that that country represents, at least in the red states. https://www.aiinnovationsunleashed.com/chinas-ai-powered-social-credit-system-navigating-the-digital-trust-frontier/
Why do you think so many of our politicians make visits to China and have business relationships with them before, during and after politics?
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Does AI work when the Grid collapses?
A desk-top computer is only as smart as its power cable is long.
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A large scale blackout will end the political careers of many politicians. Probably many bureaucrats as well.
This may be one reason why the government/Canberra lot wants to punish adverse comments, but history shows that it doesn’t work.
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There may not be a large scale blackout because deindustrialisation plus high prices has liberated a lot of power plus the Government gives taxpayer money to at least one aluminium smelter (Tomago) so its huge load can be shed on demand. That alone puts 950MW back into the grid or 12% of NSW consumption.
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I don’t think Governments will allow their own computers or systems they rely on to go down. They will be prioritised with reliable energy sources or their own generators. We non-Elites will be relegated bottom priority with expensive unreliables.
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Just like the PM’S car is petrol and not electric.
When reliability matters, you want hydrocarbon fuels.
And it goes without saying that Albanese as a Leftist would have double standards.
https://www.drive.com.au/news/why-the-australian-prime-minister-wont-be-in-an-electric-or-hybrid-car-anytime-soon/
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You’re giving them far to much credit for rational thinking.
Believe me, they don’t have back up generators or reliable sources, Govt Depts were the first ones to go “all green” and did it more than a decade ago.
If a large scale blackout hits they’ll be boiling or freezing along with the rest of us, and often stuck on upper levels of buildings because they are too dumb and lazy to walk down the fire escapes.
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SMR Generator Plants, maybe?
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Maybe after the tenth blackout.
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Today’s word: fink –
Cambridge Dictionary: an unpleasant person
Collins Dictionary: an informer, a spy
Mirriam-Webster: one who is disapproved of or is held in contempt.
Fink is not the same as think, even though our equine ex-PM was renowned for using the former for the latter. I wonder if she’s in Davos this week with her fellow comrades Klaus, Larry & Justin: free flights, free food, free publicity – all the necessary ingredients for raising children out of poverdee [sic].
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Although its origin in Middle High German meant either a cheerful person, or a surname for a person whose occupation was bird catcher or seller.
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Rat Fink was a grotesque cartoon rat custom car/hot rod motif many years ago.
Bat Fink was a silly superhero cartoon and I still remember his catchphrase; “Your bullets cannot harm me – my wings are like a shield of steel!”
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I can think of no country which has swallowed as thoroughly the anthropogenic global warming scam as much as Australia.
The fanatical level of commitment is frightening. The Left worship Blackout Bowen, Australia’s anti-energy minister and the communist PM Albanese, like North Koreans worship their Dear Leader.
Sure, some Western European ones like Germany and Once Great Britain have followed the scam, but at least they are now seeing some common sense.
There is zero chance that the present Government will. The Liberals, the fake conservative, fake opposition political party have now collapsed so no alternative there.
The only hope Australia has is One Nation in partnership with the other minor conservative parties. Plus they need to run members in local seats, not just the Senate, plus have a suitable PM candidate.
It’s One Nation or No Nation.
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I have been watching Trumps speech at Davos. https://youtu.be/qo2-q4AFh_g
It goes for 90 minutes and I have to mow the lawn but the first 30 minutes should put a shiver through the likes of Albanese and Bowen and that twit, Chalmers. Trump is full of self praise but then he has the runs on the board. As he says more than once, he wants the rest of the world to follow the US and like the US benefit their people with well paid jobs, less tax and greater prosperity. He also wants countries to be more self sufficient and to use their resources. He called out the UK for now producing 1/3rd the energy it did in 1999 while sitting on 500 years worth of fuels under the North sea which they refuse to use. He calls out the way the “stupid” people bought the green energy scam and covered their countries in bird and bat killing windmills which lose $1000 per revolution. He also admonishes those countries for exporting their critical manufacturing offshore and destroying jobs at home.
My own take is that there are many workers who like manufacturing and skills based work and who are well suited to it. Not everyone is an academic (thank God) nor do they flourish in an office.
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President Trump the businessman was opposed to the various from 1975 United Nations agendas and agreements with member nations favouring UN rated developing countries by effectively transferring manufacturing industry and related jobs to them from developed countries.
On the surface assisting the developing countries to improve the lives of the people with economic growth makes good sense, but at least some the of governments took advantage and notably of trade agreements and the dropping of tariff barriers by developed countries. They were advantaged by very low manufacturing operating costs including labour, and by government subsidies created to boost exports and earn foreign currency from export sales, etc.
The country that has been the most successful is of course China.
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Larry (the) Fink was just 18 when the first Earth Day was held in 1970. He has a political science degree (1974) from UCLA. Being a bright guy, it has taken only 55 years to figure out the green scam. Give the guy some credit. 😉
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Earth Day is actually Lenin’s birthday, celebrating it was snuck in under the environmental banner.
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We should be waking up by now but I don’t see or hear any evidence of it.
W & S are toxic disasters and have to be replaced every 15 to 20 years and they generate SFA energy most of the time.
Solar disappears every night and on cloudy days and on very cold frosty nights wind disappears as well.
In the future AI will hog any energy that’s available and there’ll be a scarcity of electricity for the great unwashed if we don’t wake up soon.
We must stop building more of their toxic W & S and build only Coal, Gas or Nuclear generators ASAP.
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Quite so. Yet, in an editorial today, The Australian (newspaper) mentions yet again the “energy transition”. The only such transition is to poverty. But the same edition has Henry Ergas arguing, strongly, for restrictions on freedom of speech. He failed to mention freedom of thought but The Australian has little or no interest in that, greatly preferring what I call cognophobic sentimentalism. It’s worth recalling the a teacher of the great literary critic and teacher, Lionel Trilling, coined a marvellous phrase: “the moral obligation to be intelligent”. Challenging. Little wonder unpopular.
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The world will end in five years if we don’t have enough power for data centers.
It’s settled.
A consensus.
Stop being a you know what theorist and follow the mon … I mean Science.
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Typical of bankers. Ethics of a dog on a croquet lawn.
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And more bankers playing politics.
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I’m busy today but here’s Konstantin Kison talking to a US lady about the importance of Greenland and the Arctic and I must admit she made me sit up and take notice.
She talks about a nuclear pathway, cutting undersea cables, the moon and helium 3 etc, etc.
Even if you watch the first 20 minutes you’ll learn a lot more about the importance of Greenland and the Arctic.
https://www.youtube.com/watch?v=Gu5Pe1vkU1o
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An incredibly important video and extremely informative – not just on things like Project Genesis, the space war and how Trump has kicked over the ‘international rule of law’ order, but what Pippa says at the end, to get your digital sheep dog algorithm to expand it’s aperture and explore more information than you are used to.
Thanks, Neville, for the link.
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“why are you spending money on technologies which turn off all your energy”. Good question.
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Yes, Malgrem is good. Most of her comments, while acute, are not really new – except I had been unaware that sea bed internet cables in the Arctic region are being surrepitiously cut.
That’s really disturbing. Many reasonably likely suspects, as well.
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AI investment is truly in “bubble mode” ( think dot com for reference) at the moment, principally because everyone can see the possibilities, but no-one knows which path leads to success.
It’s the ” all I have is a hammer, so every problem is a nail” dilemma.
Capital is the only hammer most of these people have, to crack the problem that is AGI, so everyone is pouring Capital into anything AI-like, hoping that they’ll be the winner that gets to recoup their costs.
For the overwhelming majority, it will be pure loss.
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Nigel W if I was a hammer the last nails I would be looking for are toxic W & S and batteries.
Most of the time they don’t generate anything and the toxic mess has to be cleaned up every 15 to 20 years and the supporting batteries are even worse. To top it off they also destroy thousands of klms of our pristine environments and animals etc, so sorry it’s just a complete toxic disaster.
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Just in case you didn’t read Jo’s article, AI cannot run on Wind & Solar, so it’s getting out of it as fast as possible and pouring money into Gas and Nuclear.
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As I understand it, present AI is not fundamentally capable of gowing to the next level which is AGI no matter how much computing power or gigawatts of coal, gas, nuclear or real hydro power is thrown at it.
There are fundamental algorithmic limitations at present.
Only those who recognise and invest in the next breakthrough(s) necessary for AGI will make money.
But then, we may all be doomed because AGI or those that control it may take over.
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Quite correct. LLM’s only “know” what has been Written and tokenised, they have no way of telling fact from fiction. In point of fact, outside of *some* science papers, most of the written corpus is fiction to a greater or lesser degree.
The “Great White Hope” for the proponents of AI is that AI can rewrite its own code to be “better”, and that AI can then do the same, rinse and repeat until magic happens and AGI is born.
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My thoughts precisely. All these techs rushing into AI. But probably only a small majority may make a profit from it. A lot of big investors put money into fake meat (eg Beyond Meat) and are now quietly trying to salvage funds from it. There was a huge investment spike into that, accompanied by renewed alarmist rhetoric into atmospheric methane and very large marketing campaigns including “meat free Fridays” etc. Now it’s gone nowhere because us plebs didn’t purchase the stuff, not even during COVID. What are all these AI centres actually doing? Are they all just storing the same information as the next centre? Will some tech nerd come up with some other much more efficient method of storing the information? The use of all that electricity seems awfully wasteful. In 5 years time, Jo will probably be reporting on the great AI crash of 2031.
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Hopefully the bubble bursts this year, otherwise AI is sucking up so much Compute and RAM that things like PC gaming, XBox and Playstation are essentially going to die, due to lack of reasonably priced parts. Not to mention the amount of electricity generation sources and equipment they are buying out, years in advance.
There’s a reason SpaceX is looking into AI satellite constellations. Looking forward the time to build out electricity supply to meet demand is going to be measured in something closer to a decade, when building a datacenter is a yearly thing. The aim is for SpaceX to be able to yeet 20MW of compute per launch into orbit, possibly *hourly*, at a time when everyone else is looking for a spare MW not already contracted out for years ahead
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The AI thing certainly looks like a bubble to me.
Lots of what were once called white collar jobs can be automated so the big employers will either need to find something else to occupy those workers or find a different business model. All those government droids will be able to be replaced by something with the computing power of the average wrist watch so they’ll be even more useless than they already are.
And all of this appears to be built on software which cannot be taught any notion of objective truth. 2 + 2 = 5 because that’s what its training says.
Unless there is something else in the wings this is going to dwarf the tech bubble of late last century.
But one thing is for sure. The bad guys learned a lot about milking the world for cash and their greed has their eyes wide open in excitement.
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Albanese’s Labor government will be cock-a-hoop over their gifted increase in political power as a result of the the crippled Coalition’s final implosion. I’m predicting that they will take this as the go ahead to double down on their impracticable green energy roll out. The consequence of this ideological intransigence will be that Australia with its hobbled, intermittent energy capabilities, will be last passenger to catch the bus to that destination of reliable energy self sufficiency with a high enough capability to meet imminent AI energy requirements. It’ll be standing room only with the best seats up-front going to those countries whose leaders have strategic foresight into energy needs.
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With the Liberals now gone, as useless as they were, it’s terrifying to think there is absolutely nothing stop the Left now from establishing the Orwellian dystopia they have always wanted for Australia and are well on the way to achieving.
Australia was effectively already a One Party State. It is now without any doubt.
And watch the Left now initiate lies, lawfare and aggressive, libellous and even violent attacks against One Nation and its members as they are the only plausible alternative Government, with or without the Nationals.
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The old Liberal party has been disenfranchined, populated by socialists and globalists. And financial backers like the McCormick Foundation may use their money for real conservatives, matching the donor’s original vision. Gina Rinehart and many others would jump on board.
However the old Liberal machinery is in place, tens of thousands of Liberal workers. The only way out is to work with the hated Pauline Hanson, if they want to survive. As with the Tories in England who will individually jump ship to Reform.
I can see a REFORM party in Australia, combining the best of the Liberal/One Nation/National parties. That would remove the old never vote Liberal problem. Many workers, farmers have been disenfranchised by Labor who like the UK Labor and Democrats, no longer represent workers. Labor is anaethema to the workers. In the US, even the teamsters have abandoned the Democrats.
Beware the idea that the many fake conservatives will try to defenestrate whoever wins, as with Tony Abbott. Callous is not a word in the politicians’ dictionary. They have the ethics of bankers. As the late Graham Richadson said, whatever it takes. Our worst case was Merchant Banker Turncoat Turnbull was just one of many fake Liberals, but it was always obvious he was Labor/Green, even Labor Royalty but too rich for Labor. Only Turnbull would take $444million cash without explanation and to this day, no one says anything.
The Labor primary vote would collapse once there is a novel, different Conservative Worker party. Leave the elites to vote for their own extinction but even they will want to know what Israel has to do with Australia? And not any other conflict spot across the world.
Plus you will get a lot of refugees from the Labor party after Bondi. A lot of older Greens who used to fight for the environment, not its destruction. And Greens who do not hate Jews and wonder why their party is wrecking the joint, socially, economically and with mass muslim migration.
I believe the primary vote for an Australian Reform party would pass 60%, like the NO vote. And eliminate the old Labor/Liberal loyalties forever. A new century, new REFORM party.
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It has been a long, long time since farmers and/or farm workers voted Labor, if ever many did.
The days of the Australian Workers Union actually representing rural and agricultural workers has been over for at least half a century.
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Agreed. Perhaps the largest rusted on group of Labor supporters are the public service. I have always thought that if you were paid by the government, you should lose your vote or you will vote for whoever hired you. Which is likely why the greatest and only growth in employment is in the public service, about 20% last years.
Daniel Andrews hired any journalist who criticised him, up to 200 of them apparently. Other people’s money. The other game is voting for people who let you into the country. Abbott stopped the boats, so the Labor/Green just shipped in voters by air. They also should have to wait to vote, not be immediately naturalized in bulk and voting before they could even speak English.
And the last one is a Labor war on religion, like Nigeria, but only starting with Jews. And moving onto Christians, creating turmoil and mass murder as has happened to Jews. Turning Western Sydney into Beirut, which used to be Paradise. The Islamic war on Christians will be imported from any part of the world. It is not generosity to import zero skilled people who hate you and put them on social services immediately. Surely Manchester is a good example or Charlie Hebdo or Bataclan massacre or Nice. There are so many now, in nominally Christian cities.
Don’t think it won’t happen. Communists like Albo Akbar and Bandt and Wong want revolution and the way to get it is to put incompatible people together. And bring in zero skill people. As if the Somalis in Minnesota are not clear enough. Suitcases of cash going back to Somalia. And not to Green the place.
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To truly pave you way to Hell you need good intentions,
but most importantly you need blind trust, and a total lack of intelligent leadership. 🤪😵🥴😱
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Albanese’s Labor government will be cock-a-hoop over their gifted increase in political power as a result of the the crippled Coalition’s final implosion.
May their outlook highlight their over confidence.
And the remains of the opposition parties be very vocal in highlighting un-intended policy outcomes.
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Not if it means the opposition politicians have no choice but to work together, no matter how much the Liberals like John Howard hate Pauline Hanson. They either work together or face political irrelevance, not just Federally but in every State.
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This is very true. it is noteworthy that the Government’s “Combatting Antisemitism, Hate and Extremism (Criminal and Migration Laws) Act 2026”, technically, passed by one vote. The Senate has 76 members, one takes the rôle of President. 38 voted ‘aye’, 22 voted ‘no’. Which leaves 15 who, tho’ it is not stated, one must assume abstained (including Hanson). 37 did not approve the Bill.
Over the course of the next couple of years the Opposition — however identified — should write for Australian circumstances an adaptation of the Americans’ First Amendment (with or without the reference to religion). Then, after achieving office in May 2028 (not impossible) and following a Constitutional Convention a referendum question should be put at the 2031 election. We desperately need a clear statement regarding freedom of thought and expression in Australia.
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Isn’t it amusing …
If anyone else said this the “Left” would be rioting in the streets all over the world, But for Larry Fink … nothing.
If anyone else said this the mainstream media would be hyperventilating all over the world, But for Larry Fink … nothing.
It’s like they know who is really calling the shots.
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It’s like large swaths of the internet and MSM were *paid* to put forward a certain point of view.
FTFY.
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And just like that – climate change is done…
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Never anything to do with science. I started commenting when I quickly checked how much fossil fuel CO2 is in the air. This is categorically 2.0% and has been since first measured in 1958.
But slowly I realised even the idea that we could somehow change CO2 levels is absurd. It is self evident that humans cannot change CO2. It is a vapour pressure of dissolved gas. Nothing we can do can change or has changed CO2. It’s a hoax, from start to end. Not a fact right. Not a prediction right. Not any piece of physics or chemistry right. But in the US, Australia, UK and EU and the unelected UN, it is legislated truth. And Australian judges prefer UN fantasy ‘laws’ to scientific reality.
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Just think how well we all could be doing, including the already obscenely wealthy like Fink, if those trillions of dollars were left in the hands of the small businesses and ordinary people from whom they are stripped via tax-payer-funded subsidies and ever-increasing electricity prices.
Why does the world actually need AI and data centres anyway?
How on earth did the human race ever survive without them, and reach this point?
How about we just get back to living wholesome, satisfying, personally creative lives without the “need” for AI and everything controlled for us by those who don’t care a jot about us – except for how much more they can squeeze out of us.
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As to AI, Trump is correct. Let the purveyors of AI pay for the generation required to sustain them.
Ordinary ratepayers and taxpayers have no reason to subsidize AI. If AI wants gigawatts of power, let them pay for it.
I just want MY lights on and MY home supplied with electricity at the lowest feasible cost, with reliable power.
Everyone else can pay for their own grift, graft, greed, ideology, wants, and fantasies without my money.
Personally, I believe in OI, Organic Intelligence: The Human Mind, Imagination, and Ability. AI might calculate faster, handle data faster, but it does not imagine new things or how to improve old things. It is a fancy monkey with a calculator, programmed by Leftist ideologues, to enrich others at the common people’s expense. No Thanks.
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AI is a bubble. A fantasy. It is just a level above programming but people confuse memory and language and computation with intelligence. It is just programming, simulating intelligence. But you can teach such a machine and it can absorb your ideas and regurgitate them in elaborate language which sounds like intelligence. And it can scan the internet faster than you can. And AI can remove a great number of time wasting repetitive tasks and for that it is very valuable.
But we have reached a point where bankers (who are behind every human disaster and fund both sides) jump from worthless windmills to another bubble, the world can get back to improving the place. It will be very upsetting for the Chinese though as they were hoping that their enrichment would produce the impoverishment of the West through the fraud of man made CO2 driven Climate Change. So it’s back to traditional war, which in a nuclear age is a lose lose. Which is why Greenland is so important as Chinese ships rip up submarine cables as part of their grand plan. In case no one noticed.
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Chinese ships rip up submarine cables.
Where are these reports?
Surely someone has noticed?
Or is this more CDS?
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My boomerang won’t come back, modern Australian version my robot won’t come because the batteries are discharged and supply is intermittent
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The A.I saga is starting to look more and more like a scr1pt from Hitchhikers Guide to the Galaxy.
Spoiler alert: The answer to the ultimate question is:
“42”. 🤖🤖🤖🤖🤖
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I see no good reason why AI will not pay for its own power and a bit more power for the grid. Other than political obstruction. It’s a win-win and most business people are I believe happy with win-win.
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A mini nuclear power plant at Alice Springs, accompanied by an AI installation, could be an election issue.
‘About 40 per cent of Alice Springs’s average daily demand is supplied by solar but this only works on sunny days. Gas engines is still the efficient way to meet their demand when solar units aren’t producing electricity.’
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I think one of the main problems we’re looking at is the mental health issue.
The collapse of the Knowledge Hierarchy.
Your guru in which you yielded total faith says never mind.
And moves on as if nothing happened.
I see this in people I know.
Very sensitive to counter argument because they’re facing the collapse of the religion.
With the added insult that Trump might be right.
Not going to be pretty.
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The belief that the Liberals should be encouraged to exist is daft Hansen will be strengthened by defectors and then she will win the next election.
The Liberals fall is far to slow.
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Only 1.5% of Blackrock’s investments are in energy.
BlackRock has said nothing about abandoning renewables
It only sounds like BlackRock will be increasing their share of investments in energy that is appropriate for data centers (0.8% of total equity).
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Here is Fink just 31 months ago boasting about how the financial muscle he commands – comprising other people’s money, of course – is used to comple climate and other ESG/DEI demands:
https://x.com/TexasLindsay_/status/1665440977824231438
Presumably he would respond in interview, “AI is even more important than climate; I’ve not changed in that I respond to the most important issue.” What would an acute interviewer ask next?
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“And to supply these data centres, you cannot rely solely on intermittent sources like wind and solar. You need dispatchable power, because these data centres cannot simply turn on and off”
That is equally true of aluminum smelters, electric arc furnaces, and manuy other industrial users of electricity, not to mention hospitals and other public safety facilities. The need for dispatchable power should have been obvious long before AI became a factor.
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