Welcome to Big Digital Energy with Chuck Yates, Mark Meyer and Kirk Coburn. Weekly news in energy covering oil and gas and cleantech.
0:00 I don't have mine. I met the lovely Lancaster Hotel in downtown Houston 'cause I went and saw Jimmy Carr last night and I put it at a high probability that I was gonna drink too much, so. At a boy.
0:12 There we go. And when you put it at a high probability chuck, that means you're going deep. We know what's happening. Seems like you had asked them for a long-term arrangement while your house is
0:23 being remediated. Yeah, exactly, exactly That may force you to revel and drink too much. Yes, right, are you renovating that? Are you renovating one of the oldest historic homes in Rosenberg,
0:39 Texas? Yeah, you haven't heard the gripe. It turns out I have a massive mold problem. And so I'm literally having to get the house and redo it, so yeah. I don't know what the problem is I
0:55 breathe that air for, I don't know how many nights. Yeah, you seem fine. I'm. Yeah.
1:03 As I wrote some time ago, I chalk it up to spending a few years in Karachi. So I've got bulletproof. I mean, so it's the rest respiratory system. Yeah.
1:16 Yeah. Perfect. Perfect. Before we jump in to energy news, I'm like, I mean, actually, this is energy news because AM probably dominates oil and gas across the world in terms of the number of
1:29 graduates in executive positions. They'd like
1:36 to mark. Did you, did you firstly, did you personally put pressure to have the AM president resign? What happened, man? That wasn't me. I communicated with a former colleague and classmate and
1:49 asked for his prediction. And he said, um, he stays in literally, I think less than 24 hours after that text exchange I
2:01 I texted back that Welsh had just resigned and the one word reply to that was an F-bomb, so. Well, what
2:11 was the controversy? Was this a Charlie Kirk outcome? Clearly, he didn't watch BDE last week. I did not, and I apologize. I was out trying to sell salt. No, it wasn't, it wasn't the Charlie
2:23 Kirk controversy. What was it? It had to do with curriculum and a student who objected to. Oh, yeah, yeah, yeah, yeah. Deviation from the course description, the education department, got
2:36 the professor fired, had had some back and forth with General Welsh as a result of that. And then there was some, as I characterize it, misalignment in the timing of who said what when and a state
2:53 rep, Brian Harrison, got a hold of it and was relentless in his tweeting, calling for. you know, the chancellor and the board of regents to take action, Welsh has to either be fired or step down.
3:05 Got it. Etcetera. Yeah. Institute at a university-wide review of all the course descriptions. And I was talking to somebody who's a professor there. After that, he said, look, because of all
3:18 the disclaimers and everything that you have to have in the courses themselves, the syllabus is seven pages long, which is kind of crazy When you and I look back on our syllabi. Anyway, so. We're
3:33 also used to writing it up on the chalkboard. You know, here are the books we're gonna read. Anyway, that's probably some fancy private school. Exactly, exactly. High Flute and Rice University.
3:46 That's the latest and that's the latest update on the AM saga. Gotcha. Well, we'll go from AM saga to Memphis, 'cause I think this is like Pico on Musk. This is so good. Yeah, and he's showing
4:02 everyone how it's done, which is, I think the overarching theme is
4:11 asked for forgiveness, not for permission. And so what this is all about, and he tweeted out, I think Tuesday or posted, I should say, since it was Elon, and it's his ex, but he showed an
4:23 aerial of Colossus II, which is in Whitehaven, that's actually on the Tennessee side of the Tennessee, Mississippi border. It's a southwestern suburb of Memphis, but very close to the state line.
4:38 And, you know, touting the fact that it's the first gigawatt AI training data center. And so why is that important? So if you remember, we've been talking about Colossus I, since it started in a
4:53 record, I think 134 days. in the old Electrolux facility, which is up in the industrial riverside part of Memphis, just west of downtown. They put, you know, by the time December rolled around,
5:08 it started in August of last year, was energized in August of last year, 134 days from groundbreaking to energize. I think they've got 200 or 300, 000 chips now in that facility And I believe
5:23 there's 110, 000 in this, quote unquote, new facility. But what he's doing is finding buildings
5:33 that he can repurpose that have, you know, a million square feet. He's also taking advantage of, you know, a lot of, for lack of better terms, probably not correct column loopholes, but
5:45 basically moving in an army of temporary generation, gas-fired generation to get these things up and running. And so speed to power is is really the number one all-important priority and that's what
6:03 he's proving. So they further went south of Tennessee and just into Mississippi and South Haven and bought, I believe, as a little over 100 acres, which happened to be the site of an old Duke
6:18 gas-fired power generation site and are working with Solaris to create behind the meter gas-fired generation to the tune of, you know, the
6:31 hard plan is to 11 gigawatts going to, you know, having an option to go to 15 gigawatts plus. The boring companies apparently involved, you know, certainly Tesla, they've got 168 megapacks on
6:45 this side acting as, you know, we know those facilities need some type of supercapacitor capability because of the fluctuation in the loads, but. know he's basically saying we're just going to get
6:58 this done as nimbly and as quickly as possible and as opportunistically as possible and so you know you've got record times for this scale of facility to come online from ground break to first
7:11 energize is on the
7:13 order of 150 days
7:16 and they'll ultimately have but between Colossus 1 and Colossus 2 they're going to have over a million chips. Now crossing state line from Tennessee to Mississippi avoids emissions limits Mark what
7:28 what's if you're generating in Mississippi you know they were they were
7:34 the city was turning up the heat community groups were turning up the heat because of the 35 turbines that were running at Colossus 1 and creating you know allegedly a lot of public health problems
7:51 air pollution etc Memphis and Shelby County are certainly EPA non-attainment zone. So there are particular knocks and socks limits that you've got to adhere to. What I understand is Memphis Light
8:04 Gas and Water MLGW has since installed a substation at Colossus One that cut that turbine usage in half. So that actually happened a lot quicker than I thought it would. I think Colossus One is
8:19 drawing on the order of at P350 megawatts I think you're at 200 at Colossus Two if I'm recalling correctly from the details that I've read on Colossus Two, but this is moving very quickly to get to
8:38 gigascale that no one else seems to be able to replicate.
8:43 I mean, in some ways it's like David facing Goliath, but David has 300, 000 or whatever, so NVIDIA GPUs in his own power grid. And in some ways, The best way to beat bureaucracy is to outrun it.
8:58 I mean, that's sort of the genius behind Elon is like, we're just going so fast, there's no way to stop it. And that's pretty, it's clever and one way to beat the government. I do love the
9:12 categorization of Elon Musk, the second richest man in the world is David.
9:22 Well, when you compare him to big government, he's still smiling. He's still smiling. Yeah, I don't know where it ranks today, but Ellison's bumped the other day, supposedly took him another
9:31 one. You can check that in real time on Bloomberg. Yeah. If you have Bloomberg. Wow. If you have a buddy that works for Ellison and
9:36 I'll tell you, like Oracle is the quiet giant, you know, they've made a lot of their money off those big government contracts. And they hired, I mean, they have a huge government business, but
9:48 they hired the architect from Amazon build their cloud business and it's Supposedly the best cloud out there because it's,
10:01 was built after studying everyone else's.
10:06 The challenge is finding Oracle developers. That's the one challenge with Oracle is a lot of people know Amazon and how to
10:12 build off of Amazon's
10:16 cloud and Microsoft to some degree Oracle is a little bit more niche, but supposedly their cloud is fantastic So Ellison continues just to build wealth. He's not a dumb guy. A couple of things to
10:31 answer your question, Kirk, across the state line, or maybe it was Chuck's question, you're subject to Mississippi's emissions rules. I don't know what those are, but if you're in a less
10:43 populated area. They're probably just guidelines, suggestion. Suggestions. The other thing is, and Doug Sheridan responded to,
10:54 Doug operates primarily on LinkedIn. He did ask the question, if you're basically generating power in Mississippi and cabling it to a site in Tennessee, despite the fact that it's all behind the
11:09 meter, not part of the grid, does that ultimately involve FERC? Well, again, I think those questions will be answered later, but we're gonna get up and running and then deal with that afterwards.
11:24 If your first answer is, of course it does. We regulate whatever we wanna regulate. That's one of the challenges. But it'll be interesting to watch. Not saying this is related. I think you both
11:37 know my son goes to college in Memphis, and I believe it was Tuesday, the day of the announcement. Again, I'm not saying it's related, but the notion that the local utility got the substation and
11:52 now you've got
11:55 potentially grid impacts and strain as a result of this mega load coming on in Colossus 1 on to the grid.
12:07 They did have a multi hour power outage on a on a blue sky day. So, you know, college security is sending out emails saying, well, the power is out. And I said, why, I texted my son is, you
12:19 know, I said, you get thunderstorms are rolling through now it's We're practicing today. So, we'll see those types of things are going to, I think, increasingly come forward at the local level.
12:33 So, I wanted to contrast this with a report that RBN put out. I think it was on Monday talking about their modeling and predictions with respect to Texas data centers. I'm sure both of you have
12:47 read the RBN piece that I sent around. I think RBN does a great job of really digging into system level details in its research, but they are typically fairly dense reads. So the interesting
13:02 takeaway in contrast to
13:03 what we're seeing in Tennessee and Mississippi with X and Colossus, you had a feature of the top 10 defined as 300 megawatts or greater planned data centers in ERCOT or in Texas. And what was
13:21 interesting to me about most of those is that there's still a lot of contingency on permitting approval and 9 out of the 10, the only one being an exception to some level of if not complete
13:37 dependency on the grid in ERCOT was a data center that's being built in Webb County outside of Laredo called, I had to chuckle at this name, data city. Sounds like Circumstance. Laredo's data city,
13:52 Laredo's data city. That was something, the data city. So Texas has like nine gigawatts in queue or proposed, but the main takeaway from reading through all that is that there's so much inertia in
14:10 the process. And here Elon is not too far away a couple of states over getting it done at literal gigascale. Yeah, and basically behind the meter, supposedly, right? Yeah, and why more of these
14:28 top 10 that are being featured? I expected reading through those and I kind of scanned it and I said, okay, Urcott, Urcott, Encore, Urcott, some rural electric co-op, whatever, which is
14:43 defined as grid, so there's some kind of grid dependency. The only one that appears to be completely behind the meter at that scale in Texas is data city in Webb County. I mean, the question is,
14:57 if we're dependent upon ERCOT, it's like building your dream house on someone else's foundation. I mean,
15:06 it kind of doesn't make a lot of sense. Now, maybe they don't have another solution and I get that. 'Cause ERCOT does, I mean, all the data centers, all that the gas demand is going through
15:19 ERCOT. So I get it and it's probably faster to market because we are in the digital age version of California's gold rush. Except the gold is really natural gas and the miners are these AI
15:33 algorithms. But that's what we're seeing. So I'm not smart enough to know this, but one of the big things on ERCOT that is different than the other parts of the grid in the United States is,
15:50 Urcott allows you to connect to your power source to the grid under the guise of, hey, we're just gonna shut you off if we need to. And that's kind of the deal. And so I think even if you were
16:06 building theoretically behind the grid, you would still connect to Urcott, 'cause there's always a little extra electricity you'd wanna sell to the grid. And if you're overloading the grid in that
16:19 portion, you just get shut off by Urcott anyway. So I wonder if that's why nine out of the 10 are gonna be connected to Urcott, maybe they don't need to be. And that's different than other parts
16:33 of the grid where you have to commission a study, you gotta understand the load, where things are, and you have to be approved to connect or not connect.
16:45 Yeah, I didn't take it that far. I just, at a macro level, it's a very different approach. Let's get a type of Texas Power Expert to jump in. XAI is taking versus. Yeah, but here's my question
17:01 on Texas data centers versus what Elon's doing. If these data centers are so profitable, why do they need grid subsidies and special rate structures?
17:12 That's what I'm asking And I understand what an argument is, hey, if I'm an NFL owner, if I can get the city, which means other people, not me to pay for my stadium, I'm gonna do that because
17:26 that just increases my value and the team, 'cause I'm not having to pay these big capex. But I understand the strategy, let's get someone else to pay for, but that's my big question, Why are we?
17:41 Are we? Catering like it's like Hollywood's coming saying hey, we'll give you tax rebates because it increases You know the GDP of the state. I'm I think we should dig into that Yeah, I mean if
17:54 you look at at where we're talking about in Tennessee and Mississippi. We're not talking about You know the highest GDP
18:03 Parts of the country and so I think there's part of that the other thing is You know xai it was cited Has got a burn rate of a billion a month Yeah,
18:18 and they did they did sign an agreement and there you go on xai's website, which I guess is now all x since the merger
18:30 They did sign an agreement whereby the US government is paying them 200 million for grok for government
18:41 there's all kinds of things. If somebody can explain me how these general AI providers, the gigascale, the, you know, the, the Grox, the CHED GPT, whatever, what their revenue and profit
18:53 model is. And, you know, we saw, I think, a critique of that from Kupi a few weeks ago that, you know, ultimately the amount of capital invested to get to, you know, I think X is hell-bent to
19:12 get to AGI. And so
19:18 what is the revenue? What is the profit model associated with it? 'Cause the burn rates, as you point out, are really high. And the fact that you're getting some of this, if not a significant
19:27 portion of it in the form of, you know, power purchase agreement, price breaks or tax incentives or whatever is a reasonable question. I can't answer it Yeah, you know, it's. It's interesting
19:40 to think about, because if you think about Microsoft's business model these days, it's literally the cloud. We wanna sell compute power. So we're a platform. We build tools so other people can
19:52 build stuff that uses a lot of compute. And they have the deal with chat, GPT, open AI.
20:03 And I think that's how these big guys are gonna go, is we just want people to query We want them to embed our language in all their processes so they're querying us and we're gonna charge tokens. I
20:17 wonder if that's a bit of an eyeball type thing in the internet, remember back you had so many eyeballs looking at a website and that's what it was worth and the advertising dollars would come later.
20:30 But I think ultimately the big foundational models, that's it, we just want queries
20:40 and small companies using our AI to embed in their processes. And it's gonna be interesting to see if they can actually do that 'cause the history of software shows you can be this big platform but
20:55 really getting down into nitty gritty type stuff that usually takes somebody else besides a big guy. Well said Chuck. It happens every once in a while, particularly hungover from Jimmy Carr, who
21:06 by the way, last night was hysterical. He's so funny. Where was he? Where'd you see him? Bayou Music Center, downtown Houston. So anyway. So it wasn't on network TV. The FCC wasn't there? It
21:22 was not. It was not. Anyway, before we get to that, which is the capper on this discussion since we didn't have you last week, you know, let's revisit the IEA David Blackman put out a LinkedIn
21:37 post, really. I think the paraphrasing, the title of which was in shocking about face, and we talked about it a little bit last week, Kirk, which is all of a sudden the IAs reporting that global
21:53 decline rates have accelerated to 8 or what was in 2010 a replacement volume of 4 million barrels a day due to natural decline or cashless decline, it's now five and a half
22:08 And so the industry needs to, you know, replacement spending to the tune of 500 plus billion dollars a year. We've seen exploration and development spending trend below that over the last decade.
22:20 And, you know, my
22:23 long running rant on the IAA certainly post the May 2021 net zero report is, you know, leadership has and messaging related to that has really veered into the realm of advocacy. And so
22:43 this doesn't surprise anyone in our sphere, but the vast majority of constituents, ordinary citizens, certainly taxpayers are not, they don't have a great understanding of energy systems and
23:00 energy markets. We all knew this. We've known it since the beginning of time, at least in our professional lives I remember my former colleague way back when, Dave Purcell wrote a seminal report
23:17 in 1998 in oil and gas. It was a macro report entitled Depletion the Forgotten Factor. Well,
23:27 nobody's forgotten it.
23:31 And I made the point in response to a comment that was made on Blackman's post that,
23:39 This is not just the IEA. The IEA ran interference for a lot of bad policy over the ensuing four or five years since the publication of that report. And so what they should have been doing is
23:52 consistently updating. They knew it. They knew declines were accelerating because you've mixed in more certainly more unconventional in the global supply base along with deep water which has a
24:04 shorter plateau, higher initial rate, but it declines pretty steeply as well. So they knew this was coming. And now they're trying to reclaim what I call the analytical moral authority by getting
24:19 behind this. Hey, we're shocked and surprised to tell you that global decline rates have accelerated. Well, yeah, no shit. It's interesting. I don't know how much of this I'm at liberty to say
24:33 so I'm going to be a little bit quiet. I was with a very prominent CEO of a large energy company within the last couple of weeks. And he has gone through and literally built a detailed model where
24:49 it's not based on rigs and frack crews, frack spreads, et cetera. It's literally done by lateral feet of hole drilled. And that's how he's looking at stuff And he thinks America's down a million
25:06 barrels a day next year. And he's like, you know, and he's happy. He's like, Hey Chuck, I'm going to send you my spreadsheet. Beat it up. But, you know, if you, he said lateral feet and
25:20 performance has what has been very predictive on production, you know, US production. And he said, My model is saying we're hitting a cliff right now boom down almost a million barrels a day. So
25:35 eight million barrels of the 13 and a half or thereabouts is unconventional, which has got, you know, in a traditional context, get a screaming decline rate. Well, it's underpinned by, you know,
25:50 very mature or conventional. But those numbers, if you apply the kind of 8 to it,
25:59 are directionally in the ballpark at least Well, and I'm even willing to take a step further that our traditional conventional, as you call it, the decline rates there are higher than they should
26:13 be because of shale infatuation. I mean, I think that stuff got put on the back burner. The best engineers all became horizontal driller shale guys instead of, you know, managing chemical
26:26 programs and all the stuff you do for conventional So it wouldn't surprise me if we were able to isolate those. volumes. Their their decline is probably worse than it should have been with more
26:39 glove and care. Elder abuse. Elder abuse.
26:45 That's perfect.
26:48 All right. We've bitched enough about the IA. Can we take a three week break from the IA? Not a chance. Not a chance. It's just your your beep. I love it
26:60 All right. What's your hate, man? Chuck, I wanted to get you kind of involved in last week's discussion and you know the whole aftermath of that terrible event. But you know we've seen the the
27:16 irresistible temptation to politicize everything as it relates to you know the issues
27:27 really cultural and social issues and I think the one that we touched on was
27:35 free speech among many other things. And you look at what's been dominating the news flow in the airwaves as the outrage or the glee over Jimmy Kimmel getting suspended. All right.
27:50 Yeah, no, the libertarian in me is probably a free speech absolutist. I believe in letting markets take their course I think Colbert, I think Kimmel, Michael Jordan said it best, Republicans buy
28:10 tennis shoes too. And I think the fact they went so political limited their audience significantly and ultimately it was gonna die. The thing I don't like is I don't like the FCC Chairman
28:26 threatening to take away the license 'cause I get it. It's supposed to be there for a public good It's supposed to be. balanced and all and you can make a case clearly that it's not. I just hate to
28:40 see government action on this. We probably, we need to let markets decide. And so, I mean, I thought Kimmel was one of the funniest people on TV back when he was with when Ben Stein's money and
28:55 the man show above. I thought he was really, really very funny. I haven't found his late night show that funny. He just seems kind of better and grumpy.
29:07 So, I'm not I'm not rejoicing in in in his show being taken off the air. I wish it had kind of been done in a different way. Just let the market take care of it. We're going to attach the somewhat
29:23 dated clip of Johnny Carson talking to Mike Wallace and forgive those that don't know who Johnny Carson is, but he's the godfather of late night comedy. And he basically said, look, in response to
29:37 a question about tackling what he called serious issues, he said, why would you do that? He said, I have the ability to do that, but I'm an entertainer. And why would you alienate? At least he
29:55 didn't put a number on it. 50 of your audience are more And that's where I think we veered way off course and that entertainers have become
30:10 politically active because they do have a platform and they do have social media now. People say you'll never take a serious controversy well. I have an answer then I said now tell me the last time
30:22 that Jack Benny Red skeleton
30:26 Any comedian use his show to do serious issues. That's not what I'm there for can't they see that? But you're neither They think that just because you have a tonight show that you must deal in
30:38 serious issues
30:40 That's a danger it's a real danger once you start that You start to get that self-important feeling that's what you say has great import and you know Strangely enough you could use that show as a form
30:52 you could sway people and I don't think your show doesn't entertain I mean often tell people who express outrage about you know things like the Dixie checks when they open their mouth over in Europe
31:03 and you know it costs them a lot of money, but that's not going to Prevent me from going to see the Dixie checks. I put it in the context of someone who is just an ordinary citizen when it comes to
31:19 political points of view, and they're free to say whatever they want, that doesn't diminish the talent of what they do. There's probably very little music I'll be able to listen to if I put that
31:32 kind of bar over the threshold of which I did or did not support this artist through my - There's only so much kid rock we can listen to. That's right.
31:51 I mean, I disagree, but free speech protects you from government persecution, not from institutional consequences. And I've been on this strain arguing about the Oxford Union's president-elect
32:06 George Oberoni, who has been celebrating Charlie Kirk's assassination and actually he. debated in new Charlie Kurt, which tells you a lot about his moral bankruptcy. But I think the challenge here
32:21 is with Jimmy Kimmel, it's a business decision. I understand what you said about the FCC, but this was a business decision because his ratings were terrible. And like, as I've said, all these
32:34 teachers being fired, good for them. Like free speech has consequences, period end of story So we all have a responsibility with our words. Now, we're free to say whatever we want, but doesn't
32:50 mean that just like a family or an organization, if I'm interviewing someone to work for my company and they love assassination, I'm gonna be like, probably doesn't fit my culture. I'm not gonna
33:03 hire them. I'm not gonna persecute them in terms of throw them in jail, but I'm sure you're gonna hold them accountable for those words And I think that what's. why Charlie Kirk is the huge turning
33:15 point for conservatives is that he represented Western civilization, humanity. He looked at people with dignity and treated them with respect. He didn't use violence. He looked, in fact, even
33:29 Ben Shapiro, the great Jew says that we wouldn't be here without Christianity and
33:36 Western civilization treating people with this dignity and respect. And I'm kind of go back to Edmund Burke that said the only thing necessary for triumph of evil is for good men to do nothing. And
33:51 what's been happening is that conservatives have been super quiet over what's happening over the last 25 to 30 years or more. And Frederick Hayek said it best in the road to surf them about fascism,
34:07 his weaponizing language to make disagreements seem evil. And if you think about fascism and the true definition, the progressives are playing this book out over and over and over again. We're
34:23 afraid to speak up because we'll get canceled. Your career suicide, people are gonna shun you. Look at what's happening at my alma mater, Stratford High School. These kids are wanting to start a
34:37 turning point USA chapter here in Houston and people are doxing them and threatening them and doxing the teachers and trying to threaten them into being silent. And I'm like, this is the time for
34:54 conservatives that stand for traditional Judeo-Christian values to say no more. We are tired of this narrative, which is false. And I'm okay with Dixie Chicks I won't go to a Dixie Chicks concert.
35:10 'Cause I'm like, you know what? It's time for us to start saying, we're tired of this. I'm okay with people being opposite of me, but I'm not okay with the narrative being, Hey, you're a racist
35:22 because you spoke up. And that's what's happening. Yeah. It's like this George Aberoni from the Oxford Union is
35:30 vile. And I've been, there's a lot of people on this one. I'm like Oxford is a fascist organization because they've allowed George in on inferior grades, DEI, this is all public. He hates the
35:46 institution itself. And it's basically their own Trojan horse. Like they basically are doubling down to support George 'cause they say free speech when they're destroying the institution that
35:57 created CS. Lewis and many other grades. And I think that we finally need to say, You know what, no more of this We're just going to speak up because we're allowing these false narratives to be
36:13 told about us and our children. And like, we just have to stop it. We have to. Yeah, and we know, I just think the proportionality of it, look, Kimmel was drawing 250, 000 in his key
36:26 demographic. That's almost like an integral. That's nothing.
36:32 I have more, I have some of my videos that have more than that. Giving the outrage, the political outrage, oxygen, for something so insignificant and so irrelevant. I realize it's kind of a
36:44 lightning rod figure because of, you know, he's gone into the realm of the unfunny for so long, like Colbert did, and look what happened to Colbert. He was losing, I forget what, I even forgot
36:57 what, I think CBS, what 50 million a year. There's only so much, you know, anybody can hold their breath for a minute underwater. Let's see who can do it for 10 I think the networks are. a
37:10 business or saying, look, this is giving ABC cover to cut its losses for a money losing franchise. And it aligns well with all the problems we had with ABC Disney over the past 10 years as they've
37:30 gotten a lot more progressive and not only they're programming but in their corporate behavior. And they've reeled a lot or they've tried to reel a lot of that back in I'm just saying that
37:42 against the backdrop of all the really nefarious stuff that went on with the Twitter files and the FBI strong arming meta and the Hunter Biden laptop stuff and just - Unbanking people because yeah,
37:57 that's horrible. Yeah, so most progressives are not that intelligent it seems like, but I've heard the word fascist from so many times, I'm like, yup. Do you even know what the definition of
38:10 fascism is? 'Cause we're watching it in real time. We've been seeing it. De-banking. Institutional communication that is consistent, that if you're against it, you're fired or destroyed or
38:23 canceled, all these things. It's just coming back to roost. And,
38:39 you know, a guy who has never been able to help himself and check his rhetoric, allegor this week in some Axios interview, describe Trump's rollback of alternatives and subsidies, et cetera,
38:45 against the green agenda as a jihad. I mean,
38:49 they can't help themselves. Just call them out. 'Cause my standard go to periodically when I've had too much to drink on Facebook when, you know, my friends are like, Oh my gosh, this is fascism,
39:04 blah, blah, blah. I always say, What we just said, Can't we go back? to the good old days of not being able to say Hunter Biden's laptop is his laptop. Question the vaccine. Can we say that
39:17 Intermectin won a Nobel Prize, et cetera? Those were the good old days. And I always get back quit making false equivalencies. And I'm like, how is this different? And then they say, well,
39:33 when this happens to someone you love, I'm like a guy lost a job. Jimmy Kimmel is still rich. He is still worth a fortune. I mean, Charlie Kirk's kids lost their father, a wife lost her husband.
39:44 We lost Charlie Kirk. I mean,
39:54 I don't, I don't, I agree. It's not equivalent. It's much worse. I want to go back to restrictions on the public airwaves. Back to the George Carlin days seven words you could, you can't say on
40:06 TV Thank you.
40:09 That's our biggest problem. By the way, the funniest thing Jeff Ross has ever said at a roast was, it was the roast of Bob Sagitt. And he said, In honor of George Carlin, I am gonna say seven
40:20 wordsthat will never be said on TV. And the Emmy goes to Bob Sagitt. That's
40:30 awesome. Look, guys, this is a good, this is a time, and I think for our listeners, I'd loved it to leave it with the only thing necessary for the triumph of evil is for good men to do nothing.
40:46 And I think we need to realize that sometimes we have to stand up and fight because there's no one left. And that's why we're gonna keep talking about this. That's why we're gonna keep talking about
40:56 the IEA. We've allowed it, so yeah, amen. We've allowed institutions to be infiltrated, and now things that seem common sense are now looked down upon. And you're a racist, you're an
41:10 Islamaphobe. I mean, we live in a time where the mayor of one of our cities has told a resident that they're not welcome in their city because they questioned the city renaming one of the streets
41:28 for a special temporary purpose after a, I don't think he was Hezbollah, but he basically is long a militant I'm like, so, and they're born in Michigan. A resident of Dearborn's like, I don't
41:43 think this is appropriate. And the guy goes, You're an Islamophobe. Which is like, No, I'm actually not an Islamophobe. Now, we can go talk about the religion, but let's just talk about face
41:54 to the fact that, I don't think this is appropriate that we are celebrating terrorism. And the guy's like, I'm gonna celebrate. We're allowing that to happen. We are allowing this to happen. And
42:07 now it's time to say this is bullshit. So all these teachers that celebrated assassination, well, it's public education. So fire them because it's not acceptable. I don't want people celebrating
42:20 assassination to be my children's teachers. If you're in the healthcare business, fire them because you're supposed to be following the Hippocratic oath. I've been talking about the good Samaritan.
42:32 It's like, is it, it's like, you know, the poor person that was beat by criminals and no one went over to help them except this good Samaritan that took care of them. I'm like, that's our job.
42:44 We are called to love people. And when you see people that are the opposite, I'm not loving and I'm celebrating that the person on the side of the road has not only built, has been beat, but
42:55 they're been killed. And I'm celebrating that. That is the opposite of what this country and what many of us that are Christian or whatever you believe. is essential to our code. We need to call
43:09 it out. Like this is not in our code. You don't belong here and it's okay for us to say that. There's many times in my family that I've done some stupid shit and my dad held me accountable. And
43:21 it's like, you're, go to your room because we don't want you around 'cause that's bullshit. And if you keep doing that, you're no longer welcome to my family. No, I never did that. So I got
43:32 right back in line, but we need to be speaking up and stop being afraid and letting other people speak. And we're watching it go by because these people's lives are being ruined. That gets at the
43:45 essence of, I think, a fundamental in this whole debate is that the response or the antidote for bad speech is more speech, not less And so use that license provided by the Constitution under the
44:05 First Amendment. to speak without fear of retribution, especially if you're speaking the truth, and in our world, well supported by objective analysis of the data. And suppressing that, I think,
44:19 at least in our sphere of expertise and influence has been one of the worst things. This is why I'm very passionate about really holding the IA to task for what they've done, because there's been a
44:36 lot of damage as a result of that suppression over the last five years of a counterpoint to an agenda that they were clearly fronting for a lot of Western governments that has damaged a lot of people
44:50 in terms of what, you know, look at Germany, for example, as it relates to their power calls. They've destroyed their entire country over a lie. It's crazy. But people in their careers and
45:04 their livelihoods have been canceled or destroyed because they said climate change is a hoax. Show me the data. Show me why it's better to have to stop coal. I mean, you know, and we know it's
45:19 like, well, economics 101, if you have cheap energy, and economy is going to thrive. But we have trained even our children to believe, hey, wait a minute, we don't want cheap energy. We want
45:31 clean energy, even if it destroys our economy. Amen, gentlemen. Amen. That's a good answer. But digital wallet caters has not taken the bait. They've stood up and they said no more. Amen. No
45:46 more. Are we still free to use the legacy name? Probably. Oh, collide. Is that hate speech?
45:56 Am I going to get canceled? Yeah. Hey, no.
46:01 I have a First Amendment rights, but Colin has the freedom to fire my ass for saying digital wildcatters, and I would applaud him for that if he so chooses. That's so funny. All right, boys,
46:15 good seeing you guys. Have a good weekend, and we'll see you next week.