Howard Lutnick

And then we've just drifted off track the last bunch of years and made it so hard to build something, so easy to stop something, and just a crazy love affair with intermittent, unreliable energy sources.

If you take all the batteries in the United States, you can store five minutes of power.

Five minutes.

It can be the majority on a sunny day in the summertime.

That's not what matters.

In PJM, where we are right now, at peak demand this year, 97% of electricity, wind, solar, and batteries delivered 3%.

That's when it matters.

Absolutely.

Let's talk Texas.

So the peak demand times in Texas have been cold spells.

They're high-pressure systems in the wintertime.

Wind and solar go on vacation.

They're 35% of the capacity in Texas, 8% of the delivered power at peak demand.

Yeah, but those are the two weeks that matter, right?

In Yuri, when they weren't ready, over 200 people died.

We don't want people to die.

We want the lights to go on when people need them, and it's the system cost that matters.

If you're not there at game time, all you are is a parasite on the systems that is there at game time.

Good idea.

Yeah, I've been writing and talking about that for 20 years, and you're 100% right.