Patrick O'Shaughnessy

Energy is exciting.

Again, maybe it's just because of data centers and AI and the new demand that's coming on stream for power.

Does it feel that way to you?

I mean, I know you've looked at tons of companies.

I'm sure you're incredibly on top of energy markets today.

Do you feel like it's a good time if you're interested in this field like you were to go into it relative to 10 years ago when it seemed a little bit quieter?

If you were describing the industry today to someone that knew nothing about how the U.S.

energy system works, what would be the high level way that you would approach that problem of explaining it to somebody new?

Here's the state of things today.

If you could imagine a U.S.

energy future, I'd love to paint the polls and have you imagine the best possible scenario you can imagine for us 10 years from now and what the components of that system would be that are different than how it is today.

And maybe like the worst possible version of the system that you can imagine.

in 10 years, just to get a sense of having studied the system so carefully.

I love your way of thinking about the competing goals and this weird data center variable as well.

Well, it's sort of bad.

What would be the worst scenario that you can imagine that would get you concerned about the state of the U.S.

energy system in 10 years time?

If you think about that bad case scenario, both supply and demand wise, I'm curious, starting with demand, how certain you feel that

this big increase in demand for really the first time in decades in the U.S., how lasting it feels to you?

Does it feel pretty certain that we're just going to get a ton more data centers almost no matter what or demand for them anyway?