Renewable energy ≪ Fossil Carbon. EV ≪ ICE. Honest government ≪ DOGE. Heat pumps ≪ HVAC. Induction cookers ≪ gas, and much safer. Wind turbines in fields give farmers steady income. Global Warming will cost hundreds of trillions of dollars, while curing it will save all of that and much more. So what’s wrong with the people, especially the people who claim to be all about money, who can’t wrap their minds around such facts?
We know about the oil and gas companies mired in the Gambler’s Fallacy over their sunk costs, which amount to $10 trillion or so, who are certain that they can make money on their stranded assets. We know about the ultra-MAGAites who value owning the libs over money and even life itself. We know about Christianists who claim that God does not permit what the rest of us know as reality. There are some who don’t believe in legal tender, only crypto.
But what about Wall Street? What about stock and bond and commodity markets where even Nobel Prize winners ply their trades? Well, we know about them, too. Hordes of them get caught in every asset bubble and crash, and advise all other investors to do the same. The Great Depression. The Bush Housing debacle. This Time is Different vs. The Big Short. Even Nobel Laureates have lost billions on Wall Street.
And here we are again.
But there are still lunatics building huge data centers while demanding that they be supported by fossil fuels and nuclear power.
The AI revolution is likely to drive up your electricity bill. Here's why.
A report from Schneider Electric, a company that specializes in digital automation and energy management, projects that electricity demand will increase 16% by 2029, mainly due to the proliferation of data centers. Most data centers rely on the nation's electrical grid for energy, meaning it will be Americans ratepayers who pick up the tab, Mark Wolfe, executive director of the National Energy Assistance Directors Association, a group that represents states on energy issues.
"As utilities race to meet skyrocketing demand from AI and cloud computing, they're building new infrastructure and raising rates, often without transparency or public input," he told CBS MoneyWatch in an email. "That means higher electricity bills for everyday households, while tech companies benefit from sweetheart deals behind closed doors."
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