Joe Wiesenthal

Is that basically the sort of near or medium-term future of Asia, which is like, okay, LNG is impaired, BYDs are flying off the lot, and so essentially we have a lot of, like, de facto coal-powered Teslas driving around, or sorry, coal-powered BYDs flying around?

This is really interesting.

Talk about that spread.

So to some extent, would it be fair to say that a proxy or a gauge of how well solar plus batteries is working or affecting a market is not in lower prices per se, but in a diminishing spread between the highest and the lowest price of the day and that you have this growing, that it's a sign of a sort of like

pure power stability?

Is it just because they have to bite the bullet and buy a lot of batteries from China?

Why is there the lack of storage to complement the renewables in the UK?

So there is this view, and I think it really started with, well, some people have had the dream for a very long time.

Some of the great pioneers of the industry.

But then in 2022, with Russia's invasion of Ukraine, there's like, okay, the future belongs to US LNG exporters.

That this is just, we can keep growing export, adding export terminals forever because there's just going to be all that.

We have all this gas and there's just incredible demand for it.

all around the world.

Is that story at risk?

I mean, again, like if part of the thing that's going to happen is that around the world, there is this and the political appetite for restarting nuclear and so forth is higher.

Are there any weaknesses in the U.S.

LNG growth straight up line up forever story?

So I got it.

So US LNG, yes, that is a perfect substitute for LNG from anywhere else.

The big question is, if LNG generally has the potential for such volatility, then maybe a country just decides, oh, yeah, OK, the US exists, but maybe a country just decides, this is not the future of energy for me.