Private equity and AI companies are taking over our public utilities. I’m not having it.
This is a longer note about how private equity executives and AI companies are taking over our country’s electrical grid — but I hope you stay with me, because it directly impacts the utility bills you receive every month. Since President Trump took office a year and a half ago, gas and electricity bills have risen by 11%. And private equity — you know, guys who are gutting hospitals, nursing homes, and local malls — they're on track to make things worse. Let me zoom out for a sec and clarify what’s going on: Right now, our country is using much more energy than before. And don’t let them fool you. It's not because you're keeping the AC on longer or running the dryer too much. That increase is coming from AI data centers sucking up more and more electricity. In fact, according to the International Energy Agency, data center electricity demand worldwide will more than DOUBLE by 2029. And as always, Wall Street smells money. Data centers need a tremendous amount of energy t...