Big Digital Energy

00;00;00;02 - 00;00;24;27
Unknown
Hey, boys. How are y'all? Hey, everybody, welcome to BDD. Back in the fold. Back in the saddle again. Doo doo. What's up? Where are you these days, Kirk? Nantucket. Nice. Great little surf day. I got in, an early, couple waves this morning before coming into the office to hang out with you guys. Mark, warp.

00;00;24;28 - 00;00;49;16
Unknown
What part of the planet are you on in these days? Back in North Carolina and that was after being in Tennessee for a few days, starting senior year for my youngest. I know I'm gonna. I'm gonna have a moment. I think we're about t minus two weeks from Kelly leaving from school. So I'm Anita Hug from both y'all.

00;00;49;16 - 00;01;12;10
Unknown
I'm not going to take that very well. You're going to get it. I'm going to be in Houston in a couple of weeks for a wedding. Of course, it never ends in Houston. And August is exactly what I sort of spun up as. I got my bingo card. They, Yeah. No. Charlie and Sarah. I was ready to run off and let them go to school, not Kelly.

00;01;12;11 - 00;01;41;11
Unknown
So cool. All right, Mark, kick us off. EOG. Yeah. I mean, Duke earnings call. Talked about a couple of wells, that they drilled in their new UAE exploratory license. If you recall. We talked about that when it was announced. I can't remember precisely the date, but it's I think it's likely been almost a year ago, certainly several months.

00;01;41;13 - 00;02;08;13
Unknown
And that's a 900,000 acre exploration license. So first to Wells, you know, positive results, confirming the model that it's analogous to the Eagle Ford, not only geologically, reservoir wise, but also from a, PVC or fluid standpoint. We can we can talk about the, the the two wells. They were mile laterals.

00;02;08;13 - 00;02;48;04
Unknown
So pretty. Old generation, typically what you see when you first tee off on a, on a new, they'll play, Wells both tested 25,000 barrels in the first 30 days. So 800 barrels per day, plus or minus up casing. So no tubing completion or artificial lift that's coming. And the next step is to extend the laterals to two milers.

00;02;48;10 - 00;03;04;26
Unknown
So they reported for the quarter. And it was in their other international segment 500 barrels a day of production attributable to the the UAE.

00;03;04;28 - 00;03;28;04
Unknown
So let's say you Chuck. Yeah. All right. So I read this and, anyway, I want to do a little summary here because, you know, the cliche thing would be for us to talk about exporting the shale revolution. There's shales all around the world. We just got to them first in America, blah, blah. But I think we're missing the big point here.

00;03;28;06 - 00;04;09;00
Unknown
If we think about this rock overpressure, oil prone type Cretaceous carbonate laid down 95 million years ago in a warm, shallow sea operator. Snakeskin takes 100%, tells no one it's not Abu Dhabi boys. That's Buda Gate. It's literally Buda Gate. So EOG does not have an international strategy. They're not exporting the shale revolution. They're literally stocking one specific 95 million year old seabed all around the planet.

00;04;09;00 - 00;04;14;19
Unknown
They have a type.

00;04;14;22 - 00;04;43;20
Unknown
Good. Well played there, Chuck. Well played. Well, here's my question. Who who actually captures the value? I mean, I read this deal. I'm thinking, you know, Adnoc has been a far better partner than most. You know, seas have. I mean, they have not nationalized a foreign operator since the formation of the federation, but I'm just curious who's going to capture the value of this deal.

00;04;43;22 - 00;05;17;07
Unknown
That's an interesting that's an interesting point, because ultimately returns have to be competitive with the domestic portfolio. And they're not yet for two reasons. One, because we're still in the early in the optimization phase. I mean, we've just essentially discovered this is not a post-Covid development yet. 900,000 acres is a lot. They have two partners, you know, C partners Bab Co, which is Bahrain and Adnoc.

00;05;17;09 - 00;06;13;14
Unknown
They address that in the Q and A on the call about the typical international structure where there's cost recovery and back end, looking to move to a production sharing contract, which would I think, improve the, the expatriate or the, the foreign partners economics. So there's in the old structures, there's always or the conventional structures, there's, there's going to be a drag related to cost recovery back and getting carried on capital for the, you know, C you are getting I think what international shale hopefuls if you will are looking to import and that is 20 years of knowhow and unconventional.

00;06;13;16 - 00;06;47;21
Unknown
And so I think there's some leverage there on the OG side to get more U.S like firms. As an operator, they're not I don't believe they would be, sovereign owners, but I don't I don't know the ownership structure of, you know, the, the, the reserve assets. If you look at if you look at Mexico, Pemex doesn't allow or the Constitution doesn't allow for international players to own sovereign assets.

00;06;47;23 - 00;07;23;27
Unknown
So what they did will disclose the actual terms. So that's what's interesting. We know they have a three year exploratory license. So 900,000 acres is a lot. Let's just say they have two years left. That's a lot. You know, that's a lot to say. Grace over. They did answer the question about, you know, are they essentially looking to accelerate into this and what management said was, look, we're going to give these, these, well, performance tests the time that they need.

00;07;23;27 - 00;08;16;21
Unknown
And so no, they're not going to be rushed by an artificial deadline of the exploration license expiry. So I think, I think there's a lot of, you know, amending whatever the exploration license looks like. And then ultimately the, the, the commercial arrangement between EOG and Adnoc and Babcock. The other one other interesting thing they were asked about, you know, has the conflict, you know, caused any problems and, while they alluded to Bahrain being more, problematic than the UAE or Abu Dhabi, the, you know, the fact that they pretty much continue to execute through this, they they've got the, you know, they've got the safeguards and in place, obviously,

00;08;16;21 - 00;08;48;26
Unknown
they're, they're paying very close attention to, the extra extraordinary, safety and security needs. But, you know, they are they are moving ahead with, with operations. And the last thing I'll say is, you know, they want to wait and see how the shale appropriate office infrastructure develops. It's adequate. Now, but they're going to bring in their own high spec rigs, their own, pumping, design.

00;08;48;28 - 00;09;15;06
Unknown
And so, and sand processing that that's, I would assume, I don't know anything about the kind of the mesh size of, of native sand in the Emirates. But I do know there's a lot of it. They, a very, very smart guy I know really well, and I consider him a dear friend. Once told me that the people that make the most money are in the import export business.

00;09;15;08 - 00;09;44;25
Unknown
The art vandals. Yeah, exactly. Just like the Mexicans, man. And they control a lot of great import export. Exactly. So, yeah, Kirk, Kirk told me that. And they're, they're exporting technologies. So go EOG one of the other I it just popped in my head this morning. The the analogs with the eagle for, you know, the eagle for runs along South Texas.

00;09;44;27 - 00;10;07;16
Unknown
And the, you know, pretty close to the border. You've you've had to deal over time with the cartels and the in the Eagle Ford lookalike in the UAE. You've got a bunch of bad guys around you as well. So there's a lot of similarities.

00;10;07;19 - 00;10;34;01
Unknown
It'll be fun to watch. It'll also be fun to see all the copycats. Everybody will jump in with some shell projects somewhere off the successful. I mean, we've got Argentina, Russia, and then of course Saudi Arabia that supposedly Aramco's thrown around. There's like the biggest resource of all time sitting right in the kingdom. But yeah, I'm, I'm you know, this is going to be a fun one.

00;10;34;04 - 00;11;02;19
Unknown
I think this may have something to do with the fact of UAE exiting the cartel as well. You know, they they talked about bringing on another 2 million barrels a day of capacity. And I think you could see an an unconventional development, the types of, rapid growth and compounding growth that we've seen here in the US and the various basins.

00;11;02;22 - 00;11;25;02
Unknown
You know, adding two and two and getting 20 here. And they're not even filed in full development yet, but 900,000 acres of prospective shale with, you know, 234 mile laterals and modern stimulation techniques. You can bring on a lot of volume very quickly and absolutely no prospect for a fracking ban or any of the other crap that you have to deal with.

00;11;25;02 - 00;11;52;02
Unknown
When we tried to do shales in Europe, so you probably don't need electric frack units either, bro. That's that's absolutely you know, you're you're generating you're generating diesel. True, true. All right. Speaking about crappy sand, do we want to go to West Texas? Let's go.

00;11;52;04 - 00;12;36;04
Unknown
So Amazon more than one upped Chevron Microsoft with the, Vegas County off grid gas plant. It's a mere, 7.6GW on GW ranch, which they acquired a thousand acres. It's being developed by Pacific Energy. They will have in the ultimate design, the campus with 35 gas turbines, 6.7.6 five gigawatts, one of the largest privately developed gas plants ever in the US.

00;12;36;06 - 00;13;09;16
Unknown
It's interesting that the emission ceiling TC authorizes up to 33 million tons of CO2 equivalent per year. It's roughly double the most polluting coal plant in the US. So we'll, you know, we'll see how this this all plays out from a lot of the, public pushback that data centers in Texas are going to, going to continue to, to, to phase.

00;13;09;19 - 00;13;20;04
Unknown
I mean, this is what we've been talking about, the, you know, ultimately, and I, I hate to hearken to Keanu Reeves.

00;13;20;06 - 00;13;39;20
Unknown
But if you think about the movie speed, what was the line, you take the hostage out of the equation. And this is what we've been talking about, is that ultimately, these, data centers are going to have to build off grid and, just take Ercot out of the equation, and it appears that that's what Amazon's going to do here.

00;13;39;20 - 00;14;10;12
Unknown
So, I mean, we talked about last week about, you know, when Chevron, you know, regarding Kilby that it was a quote reputable model. I mean this this is no longer an alternative to the grid. It is the grid. It just happens to be a private grid owned by hyperscalers built on gas in West Texas. It's a I mean, this is kind of the model least in this region because it doesn't work everywhere, that's for sure.

00;14;10;14 - 00;14;13;29
Unknown
Yeah. And it's not,

00;14;14;01 - 00;15;02;12
Unknown
I don't think it's subject to the stop on it, but, I'm, I think it's a big statement of the rapid pivot to behind the meter, and they've explicitly not applied for a grid interconnect in this, in this commissioning phase or the first phase of the project. I think what's going to happen is you have these giant campuses that are totally island and in areas where a lot of high voltage transmission is being built, where a lot of renewables, you know, create, intermittency and reliability issues, I think Ercot and the PUC are actually going to come to some of these power islands in the future.

00;15;02;14 - 00;15;34;29
Unknown
And I liken it to what, Harold is doing with Mercury. You know, that 452 megawatt peaker that they're building with, Recip engine technology? That is not destined to provide power to a data center. That is a grid stabilizing and resilience move. And it's also Harold capitalizing on what I believe to be their equity associated gas and waha in a in a really good power purchase arrangement deal with Mercury.

00;15;35;02 - 00;16;20;21
Unknown
And so I think whether, you know oil and gas company and hyperscale or JVs or partnerships on these island and, power ventures, start off with wanting to be merchant power players. I think that's ultimately where this is headed, because the grid's going to need, peaker or baseload that can can help with the, the ongoing balancing issues, particularly as it's, you know, as we continue to expand the grid and add large loads to it and become more reliant on the performance, when solar in the in the mass battery system that we have, we have installed in Ercot.

00;16;20;23 - 00;16;44;11
Unknown
You know, it's we've we we talked about this and now, now that I've, I've hooked all of our podcasts into Claude and Claude can go look back and trace things through. Although I did realize kind of like after I wrote my article and everything, only about half of our podcast got in there because we, we we changed to transistor later.

00;16;44;11 - 00;17;19;24
Unknown
So I need to do another data dump in there. But, a long time ago, we talked about on BD that potentially the future was less about oil and gas companies, electric companies, and more about regions. So you would you would have West Texas and you'd have natural gas and you'd have solar and, you know, possibly wind, etc. and, you know, ultimately manifesting itself into a data center, potentially we're going to see that that happen because, you know, Amazon's going to run that off natural gas.

00;17;19;24 - 00;17;45;12
Unknown
They'll get some environmental pressure there. So they'll inevitably add a solar component to it to try to mitigate that. 33 tons of carbon, emissions type stuff. So they'll add some solar to it, they'll potentially add some other stuff to it, and you'll wind up with almost a fully integrated energy company, you know, so. Well, let me let me do a little prediction here.

00;17;45;12 - 00;18;20;17
Unknown
So put your tinfoil hat on for a minute. But back when I was living in Austin, I got roped in to being, I was an elected official, and and we, the, the developer built a water utility, eventually built their own water utility inside of this big community and west and west of Austin. And the local utility came in and made a pitch saying, hey, we know how to run utilities.

00;18;20;20 - 00;18;47;09
Unknown
We do this. Why don't you let us take over the utility and it'll be more efficient? So the community said, yes. So what happened? The utility turned around and and said, hey, we want to expand your water utility to reach more houses. And so we're going to charge you guys more money. And so we got in a lawsuit.

00;18;47;10 - 00;19;12;24
Unknown
The TC was part of this and I led the loss. I was you IRA led the campaign to to to be able to sue not only the utility but the TC. As part of that, here's what I'm predicting. Ercot is going to come in to these behind the meter and make a great pitch that we know how to run these things better than you guys, blah, blah, blah.

00;19;12;26 - 00;19;38;11
Unknown
They're going to do it. Then they're going to turn around and screw Amazon. It'll be interesting. That's what's happening. And because one of the things that Matt Smith's that speaking of, because his ears must be perking up, is that these are behind the meter, which means there's more gas not flowing into the pipelines. So just think about where this is going.

00;19;38;11 - 00;20;14;16
Unknown
I mean, this is an interesting, interesting phenomenon. If you keep having people build these their own utilities behind the meter, not flowing in the pipelines, more gas is coming off line. What is that going to do long term? Mark. Yeah, I think, you know, as as regards basins like LA, you're going to continue to see, a kind of a backup and a bottleneck that while we return to growth in the basin.

00;20;14;16 - 00;20;51;00
Unknown
And if that growth is higher, G or you're going to see continued, you know, I think opportunities like what Amazon is doing up here and it's, you know, it's it's it's great that they didn't entangle themselves with batch zero. So they're not subject to the, you know to the stop on it. Over time, which no one knows when batch one is going to be over time, there's that's a long time.

00;20;51;00 - 00;21;13;24
Unknown
That's out 20, 30, 20, 31 plus just given the backlog and that they have to chew through and batch zero I you know could it in in the extreme end up and what I at least think about in the terms of eminent domain were forgotten, picked or desperate to come in and and grab power in large chunks.

00;21;13;26 - 00;21;43;13
Unknown
Yeah, I, I can see that scenario. I think it's fairly remote, but given what's going on with the radical shift in political wind, it's something to pay attention to. This is the this is the headline grabbing the for all liability is the eminent domain masterpiece here because the Amazon says the plants designed to transition to grid connected services as interconnection timelines allow.

00;21;43;15 - 00;22;12;02
Unknown
Translation is is we all connect to Ercot when we want to. But Ercot, it's not going to allow that to happen. The PUC is not allowed to happen, is what my guess is. So I, I love Ercot as a service provider. And I've already got the tagline forum Ercot, the only service provider where behind the meter is premium tier.

00;22;12;04 - 00;22;46;24
Unknown
Thank you that that's one other one other I guess dynamic here is that I think as this high hyperscaler data center neo cloud in a hurry to get power still operating in a mindset as if the primary option should be grid connected power. It's, you know, thinking back into the conventional model, it's boring old utilities that are always there.

00;22;46;26 - 00;23;08;25
Unknown
You know, electricity rates are, you know, well behaved. We haven't had any growth in demand. Well the whole games change. And so I think some are coming into this conversation with developers and saying, you know, we ultimately want to have our cake and eat it too. You take all the risk as a power developer or as a gas supplier.

00;23;08;27 - 00;23;53;29
Unknown
And, you know, we're going to have the unilateral right to connect to to the grid down the road and kind of cut the PPA off in the middle. I, you know, I picked up some intelligence on that. And so I think I think the more we see major announcements of Totally Island and behind the meter, staying away from the the inertia and the entanglements of trying to get your, grid interconnect out of the gate, I ultimately think we're going to find both in terms of opportunity cost, it's faster and in terms of what the kind of normalized power rate and reliability on a, you know, on a power quality and uptime and reliability basis.

00;23;54;00 - 00;24;40;19
Unknown
I ultimately think behind the meter offers a better solution. That's that's my $0.02. Well, and what's interesting about that is doesn't practically that mean all of this has to happen in Texas and with Ercot because you go anywhere else? And I think Allen kind of flirted with this, when he did. Memphis is basically the folks are going to be able to get involved somehow on, on all the stuff, if, if they go anywhere else but Ercot, where our own island, you know, we're going to have to go mano a mano and and deal with it here in Texas, 100, 100% that that's an interesting thing.

00;24;40;19 - 00;25;09;14
Unknown
And I don't I don't know if if Ferc is is in play here once Colossus one, two and probably three, which the the power users sit in Tennessee. But the power is going to be generated when they get fully ramped up on building the, you know, on the old Duke site and South Haven, which is right across the border in Mississippi, you know, generating power in Mississippi and sending it to Tennessee.

00;25;09;16 - 00;25;48;04
Unknown
I you know, that's an angle I haven't, haven't thought of, but it just occurred to me, based on your Ferc comments. Yeah, they're they're shipping power from Mississippi into Tennessee. So when I, when I was, when I was in, constitutional law, and I'll change the names to protect the innocent, but doc seas class, Mike bossy and I both made 98 on the final, and doc was talking to both of us, and doc goes, well, brother Chuck, I understand why you did well, you showed up for every class and all this.

00;25;48;06 - 00;26;13;06
Unknown
But, Mike, how did you do this? I checked with the bookstore. You didn't even buy any of the books. You didn't come to any class. How did you make a 98? And Mike looked at doc and said, doc, constitutional law. It's pretty easy. The feds always win. So the Ferc is coming for sure. Isn't that how they got the Mafia?

00;26;13;08 - 00;27;00;29
Unknown
Is anything that was across the state lines means we can come in now. Yeah, exactly, exactly. Well, speaking of state lines, take us to Ohio. Yeah, we've got another, seemingly about face, by a conservative Republican gubernatorial candidate. One Vivek Ramaswamy, who is the frontrunner, for the November general election in Ohio. A bigger capitalist and free marketer, I don't think we've seen prior to his, gubernatorial campaign, but he responded and I picked up on it, I think it was this weekend.

00;27;00;29 - 00;27;27;11
Unknown
He posted on X in defense of, you know, a a growing public outcry about data centers in Ohio. And what are the policy, elements that, you know, protect the public interest. And Ramaswamy was, I think, kind of put on the spot. He's a really bright guy. So I'm sure there was, you know, a lot of deep thinking about this.

00;27;27;11 - 00;28;22;22
Unknown
But the elements of his, his policy framework are pretty interesting in that you're going to have an executive order day one and his administration halting approval of all Ohio data centers until legislation codifying those terms take effect related to impact on residential in the I forget the name of the radius of of interest and all the other, license to operate elements, that the data center sponsors and developers are going to have to answer to, the most astounding of which is essentially those getting both property tax breaks, which, yeah, I mean, you get a big industrial operation proximal to your, to your home.

00;28;22;22 - 00;28;56;21
Unknown
You're going to have a negative, valuation impact. But to essentially either through reimbursement rebates, free power for the residents and in that radius of interest, I mean, we're talking about the Doe's chair, the Harvard, Yale pedigreed biotech entrepreneur, which I've always had a question mark over that company that he benefited and sold, which I don't think what happened to it.

00;28;56;23 - 00;29;25;16
Unknown
But this he was the most market purist figure in the 24 GOP primary. And now he's basically following the same playbook as what those community solar programs that progressives have been pushing for for a decade. I mean, this is I don't even understand what happened. So he's trying to win an election. Well, hang on, I actually I actually have it take care.

00;29;25;17 - 00;29;43;18
Unknown
Because I was right there with you guys, when we were circulating this story around and I was trying to write my joke, and I think it was like, I'm going to move to Ohio so I can get a pony, you know? So I was, I was, I was kind of there with you, but then this is what happened Tuesday morning.

00;29;43;18 - 00;30;09;09
Unknown
So I'm at Old Man Coffee and one of the guys there, Dave Scott, is in the Texas Cowboy Hall of Fame. Long time cattle rancher. Like a man's man. I'm not sure how old David's, but, like, he could take me in a dark alley. Still, just a man's man. And his daughter was there. She's a longtime Merrill Lynch executive.

00;30;09;11 - 00;30;46;00
Unknown
Helps him on the ranching business. These are pro-business, free enterprise, private property people. And they actually have pushback on the data centers because it's like, hey, the vibrations and the noise that the data centers make scare my cattle. They don't eat as well. They don't put on as much weight. So this is truly you interrupting me. So it kind of took a little bit out of the, you know, because Dave is not a guy that's going to show up to protest in a Patagonia vest.

00;30;46;00 - 00;31;16;17
Unknown
I mean, he's just not. But there's a real property rights issue here on these data centers. That I think's a little more complicated than just lefty righty type stuff. Fair, fair. Chuck, I think that's great point that in fairness to the Zach who I actually completely disagree with, the PJM capacity charges have gone from $28 to $330.

00;31;16;24 - 00;31;50;24
Unknown
And we talked about a few episodes ago about Velden, Breck and their power bill going from 1600 a month to 12,000 a month. So the costs are real. I mean, the voters are I mean, the the whole idea is a real issue. So I'm not trying to like we I'm not discounting the concept, but if he does that, it will kill the jobs because data centers are will be uneconomic in Ohio or it'll be watered down where it's meaningless.

00;31;50;26 - 00;32;14;23
Unknown
So either way, this is this is fail. This is a failed from the get go. You know, it's when you put a little bit of collectivism, which ultimately a grid is. Right. I mean, it's it's a centralized design. Yeah. How it's designed you put a little bit of collectivism in there, and then your principles kind of have to get left by the wayside a little bit.

00;32;14;23 - 00;32;33;22
Unknown
So I'm not going to throw a stone at the, gubernatorial candidate on this one. This is kind of like us talking about energy permitting. You know, I'm I'm a libertarian. I hate the federal government, but I kind of think the federal government needs to step in and just say, all right, guys, we're going to build power lines here.

00;32;33;22 - 00;33;09;19
Unknown
We're going to build infrastructure here because we have to. So it's not an easy discussion to have. Now one one last point about, you know, the the shocking contrast that occurred to me about the is that if you remember back in the, I guess, the halcyon days for the progressives on the etc., the hack resigned and from the CEO chair at his company and removed himself from the board.

00;33;09;21 - 00;33;46;29
Unknown
Based on principle and refusing to, I guess, play along. So what happened? Yeah, you can go back and look at the history of that. This was, I don't know, back in 2021. Well before 27 corrects us on air and any, any political aspirations. So these are big political pivots, that are necessitated by, you know, we've often said, unfortunately, there's no long term in politics, that this is absolutely squarely looking down the barrel of the November general election.

00;33;47;02 - 00;34;41;08
Unknown
And we've seen a huge inflection in the public pushback on all the kind of license to operate data center pieces of, the public concern everything from water to noise to light, you know, jobs, local and county tax abatements that are being just handed to these developers willy nilly. What, you know, what does that mean? Ultimately, if you look at and we've talked about it before, the Terra Fab and Grimes County, which is right next door to to Brazos County and College Station, they essentially gave gave away their entire kind of tax, tax benefit to to Tesla space X for that, for that facility, which isn't going to have, you

00;34;41;08 - 00;35;14;10
Unknown
know, the long term jobs benefit for Grimes County because most of that, you know, white collar staff is going to be living in Brazos County and, and Bryan College Station, as opposed to out in the middle of nowhere in Grimes County or Navasota or someplace like that. So, I think it's a good, a good analogy. And I think we're seeing a little bit I'm, I'm, I'm mad as hell, and I'm not going to take it anymore, so let's not, I'm going to bring in because we're talking about it.

00;35;14;10 - 00;35;43;02
Unknown
But so everyone's thinking, I mean, natural gas cheap in West Texas. What are we going to do? But what's also in Texas is Fermi America. You know, the deal former Texas Governor Rick Perry has. And a few other two of my neighbors are in on it, which is nuclear. So, what what's the status there? We should bring that in, because that is the more interesting deal we should track.

00;35;43;02 - 00;36;19;10
Unknown
Now, the nuclear is not supposed to come online until 2032, but it's still moving forward, isn't it? I'll talk to you over. For sure. You look at the, like, regulated. You look at the last significant addition to, grid generation with Vogtle, Vogtle, Vogtle, a I forget which phase that was significantly multiples overbudget and way later, than originally planned.

00;36;19;12 - 00;36;55;27
Unknown
And that is a relic of the friction that is has been in place since the late 70s with the establishment of or the creation of the NRC. The NRC was essentially created and has since Three Mile Island, you know, basically found a way to say no. And if you look at the cost curve of building conventional, nuclear, in the US relative to countries like France, those are the US line over time is a hockey stick and dollars per megawatt.

00;36;55;29 - 00;37;26;21
Unknown
And and France and others have done a pretty good job. Really not, you know, really having a good cost experience. And now lo and behold, France's two thirds to 70%, nuclear power and his generation fleet. Well, maybe three billionaires from that deal, but something has to change. Regulatory, and and the NRC in my opinion, is the thing that needs to change.

00;37;26;21 - 00;38;07;09
Unknown
And unfortunately, you know, when when Joe Manchin left the Senate, we were we talked about this, he and, Barrasso had jointly sponsored a bill, for a bill that had, at least moved, had been approved out of committee, called the, National Energy Permitting Reform Act. And, you know, although nuclear was lightly addressed in that it was about the permitting and regulatory streamlining and the automatic approval, if, the regulatory agencies, whatever had jurisdiction on approving these projects, sat on their hands.

00;38;07;09 - 00;38;47;02
Unknown
And so they had a deadline with which to review and approve, and it was a de facto approval, as I recall, for whatever energy kind of dominance project. And that's, you know, that I haven't heard or seen anything about that since, you know, the new administration came in into effect. So there's a lot of, roadblocks that need to be knocked down on the nuclear front, in particular, to get to any reasonable shot at building, in my opinion, and adding, significant nuclear inside of a decade.

00;38;47;05 - 00;39;20;07
Unknown
And I'll take the over on that, too. So, well, what's interesting between all these stories, guys is that the demand for power is so enormous and so immediate and so concentrated that it's re re rewriting the rules for energy and I mean, land use and politics simultaneously. I mean, this is this it's it's it's just it's actually super exciting.

00;39;20;09 - 00;39;54;14
Unknown
Yeah. No it's it's shale revolution like coolness you know. Yeah. And then we did what we didn't touch on. I'm just curious going back to the first story is EOG is exporting the drilling technology. And what are the politicians doing about that? I'm sure someone's trying to figure out how to put their hands on that too, right. Are we going to see, Nvidia like restrictions emerge?

00;39;54;17 - 00;40;06;12
Unknown
No no no no no U-turns and no U-turn laterals. We we stop at it three miles. You can't drill a four miler.

00;40;06;15 - 00;40;30;21
Unknown
That's awesome I love that. Well, boys, as always, this was, fun. I think we had so much fun doing the live show that I think we ought to just choose a time each week, we'll block it off on the calendar, and let's just do it live going forward. I love live. What did our one our best listener Vlad, say about it?

00;40;30;24 - 00;40;53;01
Unknown
Oh, yeah. We need to, We need to, to get Vlad stake. Vlad. You want live? Well, we can have Vlad on the premiere live episode. If Vlad gives us the green light for live, and that's what he wants, that's what we're going to do. There we go. We'll do that. We love you, Vlad. And go for 27 and go for 27.

00;40;53;01 - 00;41;04;09
Unknown
He's invited. That's. And Matt Smith. Oh, the community's growing. All right, boys, we'll see you next week. A lot of fun. See you next week, guys.