Scott Bessent

We're talking to investment people. We're talking to a lot of the other big sovereign funds, and we're going to do best practices. We want this to be a legacy of that.

We're talking to investment people. We're talking to a lot of the other big sovereign funds, and we're going to do best practices. We want this to be a legacy of that.

It's incredible. And I was with one of the Middle Eastern funds, and I said something about oil revenue. We haven't had an injection into the fund in 20 years.

It's incredible. And I was with one of the Middle Eastern funds, and I said something about oil revenue. We haven't had an injection into the fund in 20 years.

Yeah, I think it was just this idea of it was supposed to be a safety net, not some kind of prosperity ramp.

Yeah, I think it was just this idea of it was supposed to be a safety net, not some kind of prosperity ramp.

Well, I think the biggest challenge we're having right now is trying to get private sector to lock in for some things that might not have a payoff for five, 10 years. And how do we avoid student body left, student body right with administrations coming and going? So we're working on that.

Well, I think the biggest challenge we're having right now is trying to get private sector to lock in for some things that might not have a payoff for five, 10 years. And how do we avoid student body left, student body right with administrations coming and going? So we're working on that.

So to your point, we have this very delicate balancing act of making sure we... There's the tax side, but then the regulatory side. With fossil, it's tougher because it crosses a lot of state lines. There's a lot more permitting, a lot less permitting for solar farms, for wind, for geothermal.

So to your point, we have this very delicate balancing act of making sure we... There's the tax side, but then the regulatory side. With fossil, it's tougher because it crosses a lot of state lines. There's a lot more permitting, a lot less permitting for solar farms, for wind, for geothermal.

Nuclear is going to be a big part of it, but it's not going to happen tomorrow.

Nuclear is going to be a big part of it, but it's not going to happen tomorrow.

Well, we got to fix the supply chain. We got to fix the regulatory. we've got to decide which model are we going to go with. I'm told that you two probably know more about nuclear than I do.

Well, we got to fix the supply chain. We got to fix the regulatory. we've got to decide which model are we going to go with. I'm told that you two probably know more about nuclear than I do.

But to the point that it's not investable, that's where the government needs to step in.

But to the point that it's not investable, that's where the government needs to step in.

And also I'm told, especially with the smaller plants, that you need to cluster them. And you've got to find somebody who wants to cluster on it and all that.

And also I'm told, especially with the smaller plants, that you need to cluster them. And you've got to find somebody who wants to cluster on it and all that.

The national security aspect. But I would say 40... 50% of my day, Treasury does a lot of national security work, whether it's CFIUS in terms of foreigners who want to buy US assets, whether it's sanctions, whether it's OFAC, anti-money laundering. We've just designated the Mexican cartels as foreign terrorist organizations.

The national security aspect. But I would say 40... 50% of my day, Treasury does a lot of national security work, whether it's CFIUS in terms of foreigners who want to buy US assets, whether it's sanctions, whether it's OFAC, anti-money laundering. We've just designated the Mexican cartels as foreign terrorist organizations.