Robert Bryce

Last December, in a piece called “The Data Center Backlash Is Global,” I reported that residents around the world were rising up against Big Tech just as they have risen up against Big Wind and Big Solar, rejecting applications to use land. Sure, AI may be a world-changing technology, but the rush to build massive new data centers has resulted in dozens of rejections or restrictions on projects from Indianapolis to Dublin, Ireland. People are worried about property values, water usage, electricity costs and what it means for the neighborhood: “quality-of-life impacts,” as a member of the Indianapolis council, who led the opposition to Google’s billion-dollar project, explained.

“Europe is desperate for Energy, and yet the United Kingdom refuses to open North Sea Oil, one of the greatest fields in the World.” Donald Trump said this month on Truth Social. It is, to use the President’s phrase, “Tragic!!!” But the necessity of oil hasn’t always been recognized. Back in 2008, while running for the White House, Barack Obama declared that one of the major challenges facing the US is “what we will do about our addiction to foreign oil.” His solution was to switch America to renewables. In that address, known as the “New Energy For America” speech, Obama said, “We simply cannot pretend, as Senator McCain does, that we can drill our way out of this problem.

Just two years ago, Mary Barra, chief executive of General Motors, declared: “We believe in an all-electric future.” She went on to claim that the challenges her company was facing in the EV market were merely temporary bumps on the road to net zero. But as Bob Dylan famously observed, things have changed. On January 8, GM announced it would take a $7.1 billion hit in charges against its earnings, of which $6 billion is due to Barra’s failed EV strategy. In a filing with the SEC, the company also warned that it would take more write-downs this year as part of a “strategic realignment of EV capacity.” The car companies made 5.4 million EVs in three years – and incurred an astonishing $20,887 loss on each one GM’s move came less than a month after Ford Motor Co.