Subject: Re: Data centers?
Agreed that China has a more dynamic energy policy than the US currently.

However, I would caution that had you looked at US electrical demand in 2019, you would have seen all utility analysts saying that demand would continue to creep up at about 1-1.5% per annum through 2030. Meanwhile, electrical demand in China, especially in rural areas was growing like 30-50% per annum and the Chinese central planners were in an electrical growth environment.

So what we are dealing with now - given the reset to electrical growth demand - a huge demand shock to a system that really hasn't grown much for years and years.

The bright side to all this is that I believe it is easier to decarbonize the electrical grid in a growth environment than it is in a no growth environment.