208 - US backs Opec calls for more oil, gas investment | Guest John Belizaire

Energy Week

US backs Opec calls for more oil, gas investment https://www.argusmedia.com/en/news/2385879-us-backs-opec-calls-for-more-oil-gas-investment- The US' top energy envoy Amos Hochstein today supported calls for investment in oil and gas to increase globally alongside spending on the transition to a lower-carbon energy system.

- Say one thing in one environment (Adipec is a safe space to call for more oil and gas investment) and then another when they are speaking ot voters

- Hochstein says we need more investment in oil and gas AND clean energy because they are on "different timelines"Oil is all that Putin has left, U.S. presidential advisor Amos Hochstein sayshttps://www.cnbc.com/2022/10/31/oil-is-all-that-putin-has-left-presidential-advisor-amos-hochstein-says.html

- “Oil is the only thing they have left in that economy … Putin has destroyed the rest of the economy,” - Why don't they do everything they can to lower the price of oil because that would actually hurt Russia's economy.Natural-Gas Prices Have Plunged Into Autumn

https://www.wsj.com/articles/natural-gas-prices-have-plunged-into-autumn-11667084564

- Analysts warn that unusually cold weather could send prices soaring anew this winter, especially in the Northeast where maxed out pipelines have effectively capped output from Appalachia’s prolific producers.- Europe having an unseasonably warm autumn but that doesn't mean it won't be cold later.

Biden admin has discussed slow-rolling military aid to Saudis, including Patriot missiles, as payback for oil production cuthttps://www.nbcnews.com/politics/joe-biden/biden-admin-discussed-slow-rolling-saudi-military-aid-payback-oil-prod-rcna54505

- this is a can the politicians say they did everything they could to bring down oil prices? or is this something that would actually happen.

Special Guest John Belizaire from Soluna Computinghttps://www.solunacomputing.com/video/soluna-partners-with-texas-wind-farm-to-build-flagship-data-center-in-the-state/- want to make renewable energy a global superpower- up to 30-40% of the power generated by renewable power plants is never used because the grid can't handle it. - Solana uses that energy for computing. Find power plants that have wasted power and build specialized data centers on site to use for computing power.- Focus on computing that is resilient to loss of energy but needs a lot of energy. Focusing on blockchain and crypto-mining. Monetize quickly. They use it.- Data centers are NOT 24-7 - they want to run computing models that aren't time dependent. - do bitcoin mining for 3 years and then convert to other uses. crypto great "bootstrapping industry"- Need distributed computing network - lift and shifting jobs to other facilities if lacking energy.- facility isn't fixed source of energy consumption. can be bigger or smaller depending on needs of grid. like lego blocks.- "green electrons power their computing" looks good on ESG reports.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit energyweek.substack.com