Exxon CEO calls Venezuela 'uninvestable' without 'significant changes'

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19. They don't necessarily have a plan for AI. But they know money is flooding in for anything with an "AI" badge on it.

People are running around trying to build huge data centers everywhere they can. There are over 200 such projects in my state, in some stage of application. Most are being vigorously opposed, but some percentage will be built. And all the applications I have seen call for the local residents to eat a big part of the electrical cost. That is to say, the state is passing legislation that will compel the electric utilities to sell the electricity to these data centers way below their cost. It may be at the utility's marginal cost, but way below the cost of having to construct new generation capacity, so the individual rate-payers will get their rates jacked up. And the local residents get absolutely nothing out of it. There are no meaningful jobs, and the AI services can flow across the Internet to anywhere -- no local benefit.