05.25
The Order Book Hits the Tape
The AI power buildout has moved from forecast to order book. The richest companies in the world are prepared to spend almost without limit. They have discovered that money cannot manufacture time.
Behind the meter × Permitting reform
Permitting reform and behind-the-meter are inverse forces. Post 054 closes the loop: with the SPEED Act effectively dead and the White House pledge in force, BTM is now the structural answer to federal permitting failure, with state-level mechanisms (Texas SB-6, JETI, Louisiana PSC fast-tracking) filling the operational gap.
Entries
5 citing both topics 04.19
ERCOT Queue Hits 410 GW of Large Load Requests
Texas interconnection queue now tracks 410 GW of large-load requests, 87% from data centers, a 4.7x multiple of current peak demand. SB-6 rulemaking will determine whether projects connect to the grid or self-generate behind-the-meter.
04.19
AI Moves at the Speed of Steel
The ceasefire moved in days, oil moved in hours, and hyperscaler money moved in commitments. The physical system barely moved at all. Turbines, transformers, LNG trains, and grid connections were already the binding constraint; the blockade and the $630B hyperscaler pledge simply made that constraint visible to everyone at once.
04.09
The Workaround Becomes the Plan
A two-week ceasefire between the US and Iran briefly halted oil's upward march, but Europe's fuel shortages have already materialized. Meanwhile, Chevron's $7 billion commitment to build Microsoft a dedicated gas power plant signals that oil's future lies in feeding data centers, not traditional grids.
04.05
Permitting Reform and the SPEED Act
The SPEED Act, passed by the House in December 2025, streamlines federal environmental reviews for energy infrastructure but faces a difficult Senate path requiring 60 votes. Permitting reform remains the binding constraint on gas turbine, nuclear, and transmission buildout timelines.