I think you’ve taken the wrong concluding from your analysis. It is pretty remarkable that your numbers show building the US nuclear fleet equivalent amount of electricity every two years while staying well within the historic range of active rigs.

Energy resilience. Such a hot topic these days.

A wild how much the world has changed experience is reading Buffett effusively raving about his World Book acquisition in letter after letter in the 80s. A time when encyclopedias mattered, door to door was a real thing, and book sales were material to their bottom line.

None of the 10 in their data set are in Texas. Although it’s likely not a complete data set.

The number of rigs drilling for “miscellaneous” (e.g. geothermal, CCS) has doubled in the last year. 1. This has become a real growth sector for the industry. 2. At 2% of rigs, lots of running room until geothermal starts running into supply constraints.

I was curious how oil and gas activity was up if oil was flat and gas was flat so I took a closer look at the report. The growth was in Miscellaneous, which includes geothermal and other activities. A fast growing category year over year.

This is even more applicable if you are from Texas.

The tungsten price chart is wild.

One way to think about how durable data center growth is: currently autonomous driving accounts for a fraction of a percent of US VMT. We’ve got a long, long way to go.

We made a pretty cool announcement today.