Doug Burgum

The tech industry. We used 1% and no one paid any attention. And the tech industry didn't pay any attention to power generation because they didn't have to because PCs got more efficient, software got more efficient. And then America was rich. Everyone was buying appliances that were more efficient. So there wasn't ever really a demand curve on electricity.

The tech industry. We used 1% and no one paid any attention. And the tech industry didn't pay any attention to power generation because they didn't have to because PCs got more efficient, software got more efficient. And then America was rich. Everyone was buying appliances that were more efficient. So there wasn't ever really a demand curve on electricity.

But then today with AI, the demand curve is just flying in the face. And when I was at Sarah Week, which is the biggest – energy conclave. When I was speaking to the group, I said, there's something different here this year. And what's different is the five biggest tech companies in America showed up at that conference with $300 billion of CapEx.

But then today with AI, the demand curve is just flying in the face. And when I was at Sarah Week, which is the biggest – energy conclave. When I was speaking to the group, I said, there's something different here this year. And what's different is the five biggest tech companies in America showed up at that conference with $300 billion of CapEx.

You know, the big ones have got 75 billion a piece, you know, for the top ones on that chart. And I'll reflect back to not that long ago, a couple decades ago, I was a corporate officer at Microsoft for seven years. I never went to a CapEx meeting. Somebody said, well, weren't you invited? I said, no, there were no CapEx meetings. You know, we hired salespeople and software developers.

You know, the big ones have got 75 billion a piece, you know, for the top ones on that chart. And I'll reflect back to not that long ago, a couple decades ago, I was a corporate officer at Microsoft for seven years. I never went to a CapEx meeting. Somebody said, well, weren't you invited? I said, no, there were no CapEx meetings. You know, we hired salespeople and software developers.

And if we needed an office in Singapore or Munich, we rented it, leased it. And so there was no CapEx. And now they showed up at that conference and I had to speak to all the executives and said, look, these guys aren't here trying to sell you software. They're your biggest customers. They need power and they will do anything.

And if we needed an office in Singapore or Munich, we rented it, leased it. And so there was no CapEx. And now they showed up at that conference and I had to speak to all the executives and said, look, these guys aren't here trying to sell you software. They're your biggest customers. They need power and they will do anything.

And the regulated power providers and some in the industry just have never seen a demand curve. So it's like a collision between high tech and the power generation in America. And coming from that, we've got to figure out a way to break through this.

And the regulated power providers and some in the industry just have never seen a demand curve. So it's like a collision between high tech and the power generation in America. And coming from that, we've got to figure out a way to break through this.

Well, I'd say that the good news is that we have a president of the United States that understands this. And that's why on day one in office, he declared an energy emergency. Some folks that aren't. familiar with what you've just described, this awareness that we're facing a crisis.

Well, I'd say that the good news is that we have a president of the United States that understands this. And that's why on day one in office, he declared an energy emergency. Some folks that aren't. familiar with what you've just described, this awareness that we're facing a crisis.

We're questioning whether we had an energy emergency, but as you've just described, we have a huge one relative to our grid, grid stability. We don't have enough power to win the AI arms race. And the AI arms race means without that, we lose the defense battle. Because it's not just robotics in manufacturing,

We're questioning whether we had an energy emergency, but as you've just described, we have a huge one relative to our grid, grid stability. We don't have enough power to win the AI arms race. And the AI arms race means without that, we lose the defense battle. Because it's not just robotics in manufacturing,

you know, if we're going to have a golden dome, if we're going to have any ability to defend ourselves from hypersonics or, you know, protect our fleet around the ocean, not to have them all wiped out in the first hour of a conflict, we have to have AI both targeting and a defense standpoint. So you can't separate defense from AI anymore either. So this is, it's a mission critical. So with that,

you know, if we're going to have a golden dome, if we're going to have any ability to defend ourselves from hypersonics or, you know, protect our fleet around the ocean, not to have them all wiped out in the first hour of a conflict, we have to have AI both targeting and a defense standpoint. So you can't separate defense from AI anymore either. So this is, it's a mission critical. So with that,

with that energy emergency then we have to pull out all stops so back to any dc uh which by the way for those that are easy to remember it's like acdc it's any dc and then we could even have a little lightning bolt and the logo i don't know if you're gonna get there dog but you know t-shirt have t-shirts i actually might make that t-shirt for you i mean i think it's you guys sell swag on this podcast i think that's going to be the new one uh new bestseller anyway with with the you

with that energy emergency then we have to pull out all stops so back to any dc uh which by the way for those that are easy to remember it's like acdc it's any dc and then we could even have a little lightning bolt and the logo i don't know if you're gonna get there dog but you know t-shirt have t-shirts i actually might make that t-shirt for you i mean i think it's you guys sell swag on this podcast i think that's going to be the new one uh new bestseller anyway with with the you

could sell that swag you know we could fund a new energy program yeah we go yeah with the but what are we're not a organization we're like a small tiger team and think of it more like a governor's economic development super super team president trump is asking us to find things that are critical to the infrastructure where they're running into roadblocks and then help them i want to say white glove concierge service help them get the permit help them get started the capital is there

could sell that swag you know we could fund a new energy program yeah we go yeah with the but what are we're not a organization we're like a small tiger team and think of it more like a governor's economic development super super team president trump is asking us to find things that are critical to the infrastructure where they're running into roadblocks and then help them i want to say white glove concierge service help them get the permit help them get started the capital is there