Natalie Winters (5:15)

Now, when I talk about banning the students, Harvard's addicted to two things, maybe three things, but definitely two things. U.S. federal taxpayer money to keep different programs going. Chinese Communist Party, massive infusion of cash, rifle programs and probably Qatar. I sent you that piece today. There's a study out that says, is it $29 billion? The Chinese Communist Party and Qatar alone, those two have put with major US Universities. Our universities that used to be some of the most cherished institutions in our countries are no longer American institutions. This is why at Columbia had 60% foreign students. That stops got that stuff's got to end. Federal money's got to stop right now. They got to purge these faculties. They got to purge the. And anybody that's a collaborator with the Chinese Communist Party has got to go all the kids. And some of these kids are innocent, the Chinese national kids. But right now, where they got to sign that pledge, they have to report every 30 days for right now they got to go all of them. And you got to open those slots up for American kids. We got to cut the money off from the Chinese, Chinese cameras party. We're in an economic war with them right now. That that sandbar that people, you know, the mainstream. Oh, just a sandbar. They are laying a stake to one of the islands as small as are told to make a statement against the Philippines, that they're in charge of the South China Sea and got the what nine dotted? The nine dotted, you know, map or chart that shows it's an inland sea to mainland China. This thing's rolling hard. And President Trump, you said it perfectly, the Sun Tzu part. If they have to go kinetic, they think they've lost. So they're going to do everything else except kinetic. And the thing they do most is that they know the foreign leaders can be bribed and bought off. Natalie, It's a pretty sorry state of affairs. Not only are the American elites can be bought off, they can be bought off pretty cheaply, can they not, ma'am?

Unknown (7:19)

Yeah, I mean, I think the whole Confucius Institute issue is sort of the limited hangout version in terms of what is going on on these college campuses. But I think if you even extrapolate more broadly what you're talking about, which I agree, we've been at economic war with them. If not, I would say veering into the territory of kinetic warfare for a very long time. But even if you take away, if you say, okay, maybe these students aren't affiliated direct with the Chinese Communist Party, but table that for a second, we still shouldn't be educating and training and imparting, let alone a country with a history and repeated history at that, of intellectual property theft and industrial espionage with the secrets, with the trades, with industry, with tips, with the brightest, though I don't know if the professors at Harvard are necessarily the brightest. But we should not be educating the very people who will then be competing with American companies, maybe in the boardrooms, but also maybe when it comes to a battlefield. And to that point, I think people don't understand that what the Chinese Communist Party is doing in every facet of American society, I mean, to call it war is an understatement. If you read their military doctrine, which people recall, this is what I got my start in, in terms of the investigative reporting they have very, very calculated, the most heavily cited quote throughout their military doctrine is to subdue to the supreme art of war is to subdue the enemy without fighting. And that three warfares doctrine that I was talking about, it's psychological warfare, media warfare and lawfare. And all of that together is how China has, I would argue, essentially taken over at least the Achilles heel of the United States, which is, which is our, our ruling class. But I just don't think that the people who are messaging on China right in the legacy media, they will never understand the threat, partly because they're paid off and we've exposed time and time again the trips that they've paid to take these journalists on in exchange for favorable coverage. But the key point that I would make too, for anyone who thinks it's so imperative that we somehow replace the people who are going to, you know, replace your children or eventually go to war with us. Any company, any business, any person, anybody who is even tangentially linked to China is Chinese. To the Chinese Communist Party. They're subject to Article 7 of China's National Intelligence Law, which stipulates that at any moment, for any purpose, for any reason, very broad scope there, under essentially any purview, they can be requisitioned by the state, by China's Ministry of Intelligence, by their spy services to do whatever the Chinese Communist Party can please. And if you know that that's a thing, I have no idea why you would be importing to the tune of hundreds of thousands of foreign students onto these college campuses where you See it time and time again. People being indicted, arrested for stealing research secrets for not disclosing that they're being funded by the Chinese Communist Party. And your previous guest, Robert O'Brien, what he really did that was so revolutionary during Trump one was that he really focused on enforcing Farah and overhauling that and using that as sort of a touchstone or at least a guiding light to go after. What are the, as we speak, active 200 plus registered foreign agents on behalf of the Chinese Communist Party. When we talk about the lobbying firms and the law firms, part of the way that China has been able to co op this city is that explicitly tied to, to whether it's Beijing Municipal Services or Shanghai. Sit. Name your city. These cities will retain Western law firms or lobbying firms, the ones on K Street that I'm not too far from, and they'll lobby for them for sort of, you know, meaningless, paltry issues. But the real point is that they're on the payroll. Not only are they probably hacking all their devices, but they are then for all the rest of the American and Western corporate clients that they're working on behalf of, they're not going to compromise or come after the clients who are also paying them. I think one of the most staggering and stunning statistics from the entirety of Trump one was when they classified, it was over, I believe, 25 Chinese companies as military collaborators, which, you know, military, civil, fusion. It's not just an industry thing, it's a science thing. We know the Wuhan Institute of Virology. But of those 20, 25 companies, four or five of them had active Western lobbyists working on their behalf, trying to get them government contracts, trying to, you know, protect their image in the Western press. That's if you extrapolate that out to every Chinese company, that's extremely damaging. But all of this stuff is very well rehearsed and I think that most people are really naive.

Natalie Winters (11:41)

Hang on, I want to make sure that you audience gets a full impact of this. They're lobbying to get US government contracts. Think about that for a second, folks. As if your pension fund hasn't worked, hasn't been the private equity and hedge fund money that shipped the jobs over there, that your tax money is not keeping this madness going. That there, there they have retained lobbyists to get government defense contracts. I mean, it's insane. You can't, I mean, they're at a war with us. They must think we're idiots. We fund it, we let them steal the technology or we train them up in it, or we have we, we just look the other way. If our companies to get access to their market have to form joint ventures, the first thing they have to dump in is their intellectual property. I mean it's open season on, on the Americans. Explain, just as a tutorial, just go back, explain to folks. When you say a united front entity or united front effort, what is united front meaning?

Unknown (12:40)

Sure. So this is actually a branch, it's led by the Chinese People's Political Consultative Conference. So this group oversees their foreign outreach efforts. Not just limited to the United States and not even limited to the Western world. It's sort of, I would say, the like political institutionalization of what they attempted to do with the Belt and road. Right. The 140 plus countries that signed on to that, that was using infrastructure and ports as leverage. The United Front work department uses business deals, putting spouses on the payroll, in some cases blackmail trips to China. But a lot of these very euphemistic sounding organizations, a lot of various city level Federation for Return, Chinese Overseas, the whole sister cities scam, the Chinese association for International Unfriendly Contact, the Chinese People's association for Foreign Contact, they have these very innocuous but funny sounding names, but they're very calculated. And I would say just my overview, having tracked this stuff, people can probably tell I geek out on this. But in the, in the early 2000s, like after they joined the WTO and we're really focusing on the economic warfare stuff, they were very content, I would argue, with just sort of shaping and astroturfing the narrative about what exactly constituted China's rise. And they wanted China to be looked at by the rest of, to the world as a model, you know, that they were a great country, they lifted all these people out of poverty. But post Trump entering office, maybe even a little before that, I think that the influence ops sort of shifted where they were no longer content just shaping the narratives around China. But that was when you really saw them, I think, start to do the more cultural subversion stuff here in the West. And that's when you really get into the, you know, fifth dimension, fifth kind of generation warfare where by having, you know, by co opting politicians who will push for immigration policies that leads to an open border, you then allow military age Chinese males with ties to the play to enter your country through that porous border. When you have lax politicians who won't enforce agricultural laws, that's how you see China buying up farmland, that's how you see politicians who won't call out Chinese spy balloons, that's how you co opt an entire scientific community to give our tax dollars to the Wuhan Institute of Virology. That's how you know, and the list goes on, right? Take your pick. Hollywood's a perfect example of that. And academia going back to Harvard is also a perfect example of that. Because you know, all of these stupid research papers and white papers that they put out, there's no meaning to them. It's not like these researchers are sitting around wanting to write, you know, dozens of pages about useless woke stuff. Those are then used to lobby members of Congress to adopt certain positions. And when the Harvard Ashe center is literally being funded by Chinese Communist Party owned enterprises and in some cases, I mean Harvard, Xi Jinping's daughter lives in Boston and goes to Harvard. You know what I mean? It's absurd the level of compromise, but the boldness of it shows you how deeply embedded they actually are. I mean there's a person who is right now a professor emeritus or whatever at the Naval War College who I exposed years ago for visiting and going to the Shanghai Academy for Social Sciences, which our own intelligence services have flagged as being the hotbed for how the Chinese Communist Party flags and finds Western spies who will leak documents to them. And we've seen several CIA people leak documents. They have established channels. So if a stupid Naval War professor is able to do that and Naval War College was able to do that and get away with it, this goes all the way to the top of society. The idea that this is just, you know, Western greed and lust for the Chinese market, that's part of it. Maybe that works with Mark Zuckerberg, though I'd argue he's compromised too. But this is very, very, very calculated. It's why I was able to have the investigative career that I had at the age of 19 because there was so much to report on that no one ever wanted to get into to because they were bought off and paid for by them.

Natalie Winters (16:39)

Given your professional expertise, what do you think it's going to take to put a blowtorch to this and to rid Harvard of this bacillus? Ma'am.

Unknown (16:54)

So I would start by Congress subpoenaing every Western lobbying firm that has worked on behalf of a Chinese Communist Communist Party linked company to get all the documents, to get the names of the people that they collaborated with, the journalists that went on these trips, the think tankers, the students just get the names first and then from there I think you can kind of reverse engineer who's up to no good. But I would have a zero Tolerance policy for a lot of these people who have any affiliation with these Chinese Communist Party United Front work department groups, the ccp, as I always described in radioactive, they're toxic. Once you are awash in their influence ops, you don't escape. I also think that, I would say I maybe perhaps disagree with DOJ's decision to water down some of the Ferro registration. I actually think Farah is an important statute. I don't necessarily think that what it currently is is all that great. I would have reformed it before getting it out. But I think that they should more intensely enforce operations and make these universities have to disclose their funding. I think that first and foremost and have them make the case to the American people why they're taking and actually, believe it or not, training leaders from the Xinjiang Production and Construction Corps, which has orchestrated the entire Uyghur genocide. Harvard actually has a special program where they used to invite them over here. They would bring them. They let them tour the Capitol and have them meet with members of Congress and instruct them how to be better and more efficient politicians. I'm not. I'm not kidding.

Natalie Winters (18:23)

I don't know about the audience, but I'm all set to say that I think Natalie is ready to go into a Cabinet position or at least an undersecretary somewhere. We do have a. But while we got you, Natalie, we're going to use you. Let's show we got the clip. Let's show the clip from over the weekend.

Eugene Daniels (18:42)

We journalists are a lot of things. We are competitive and pushy. We are impatient and sometimes we think we know everything. But we're also human. We miss our families and significant life moments in service to this job. We care deeply about accuracy and take seriously the heavy responsibility of being stewards of the public's trust. What we are not is the opposition. What we are not is the enemy of the people. And what we are not is the enemy of the state.

Natalie Winters (19:34)

Natalie, I thought there was no comedian this year at the White House Correspondence Center.

Unknown (19:38)

Man, maybe I'm pro fact checkers because fact check false. That's, of course, Eugene Daniels, the, I guess, newfound MSNBC contributor who. What? Accuses us of being biased despite working for a network where a former Democrat press secretary now works? They recently did a panel together. I'll have to clip it for you. They said some truly wild stuff. I described that dinner as like a doomsday prepper bunker because that's essentially what it felt like. There was a lot of internal drama amidst the WHCA about whether or not they should actually have had the dinner, given the circumstances that we live under. But I will say my takeaway, I went to some of the events this weekend is that new media, I mean, we've always been strong, but we've never been stronger. And it's quite interesting to watch the legacy media people interact with the new media, I would say, much like myself. They treat us like zoo animals. They don't know what to do with us. Maybe it's rooted in envy because their networks are getting spun off and sold and they have no viewership. But I had some very interesting interactions this week. But I just think that this dinner, I know I hosted the Friday show and I made the point to our audience that this is really a victory for them. I mean, in the same way that President Trump has commandeered the Kennedy center, that weekend is supposed to be something where all of my wonderful colleagues standing around me right now who are, believe me, apoplectic over all the illegal aliens, criminal, legal aliens that have been deported, you can see the signs behind me. I don't know if they know what to do with those. But that's a weekend that those people are supposed to celebrate and relish in the idea that there are these journalists, right, these pristine, untouchable pseudo intellectuals. You took that from them. Our audience took that from them. Not just by helping President Trump get elected, but by helping shows like this, people like you, people like me, have the platforms that we do to totally destroy and debunk their narratives. And I just want to thank our audience and applaud our audience for having done that, because these people are the most smug, like I said, pseudo intellectuals you will ever meet who think they're better than you. They have nothing but contempt for the American people. They would scoff if we were covering the truck driver issue. They would try to find a way to bring up, who knows, multiculturalism. But it was an important marker. This is, if you read the reports of it, people were hugging longer than they could. They were wearing flats instead of heels. And I think that that's quite symbolic. On the. You want to talk about psychological warfare coming from the ccp, our audience can dish as good as they can take, and they've dished a lot against this legacy media elite. And it's quite glorious to see them not be able to have their parties at not just taxpayer expense ideologically, but it's, it was great to see and I have some funny stories. Maybe we'll have to do an after hours edition, but me and the legacy media, it's an interesting thing.

Natalie Winters (22:22)

Maybe we'll do that.

Unknown (22:23)

A lot of them are texting me. I'm like, no, I don't want to hang out.

Natalie Winters (22:28)

Exactly. Sliding into your DMs right now. I want to go back to the phrase, though, that seems to upset him. And they got to have to give a. A round of applause. Sue. This is a term we came up in the early days of the first Trump administration when it was so obvious that everything was hand to hand combat. And I really want to applaud Caroline Levitt, Susie Wiles, Taylor Bowditch, Stephen Chung, the entire media team over there, and the chief of staff for really having the strength of purpose to kind of move these people aside and let some young fire breathers in from actually places that have audiences and have engaged activists. The enemy of the people. You could tell that we landed that one. And that stings. They have to go and try to reinforce the fact that we're not the enemy of the people. Now, Eugene doesn't actually make the most, you know, he's not the most powerful speaker. But in your hanging out with this group this weekend, is that something that stings a lot, that they're now referred to as the enemy of the people?

Unknown (23:36)

Yeah. And I think the fact that they're using that terminology, it means that it's stuck. Right. We won. Like the fact that he says opposition, that's something that we talk about all the time. Usually. They would reject that framing. It's an interesting phenomenon because though you would think that they would detest my presence being there and hate me, it's more of like a curiosity, while also thinking like, you're a mental patient, like you belong in an insane asylum. And I think the biggest interesting just thing to me, you see it sort of in their coverage, I think, of the new media, but how they even speak to me, it's like as if they've never talked to someone with my beliefs before. Which for a White House reporter, for someone who covers politics, that's sort of outlandish. And I'm not saying that they don't hit the campaign trail and interview MAGA supporters, but I think that they have truly a contempt for them. They think that they're better. They think because, you know, we didn't go to Harvard and get brainwashed by the Chinese Communist Party, that somehow their voices matter more. And I just think that it's wild that the new media beat is the advent of the new media beat. It's this whole thing now. Right. We've been around for a Very long time. Like, I meet people who don't know what War Room is and it's preposterous. Right. Covering. I mean, that's malpractice in terms of being a journalist. So it's, it's, it's a very interesting kind of juxtaposition between two different worlds. I break it back to China. It's like a Thucydides trap. Right. You have the two competing legacy media, new media, but it's, it's weird. I do it for the audience, but please don't make me do this forever. Yeah.

Natalie Winters (25:13)

One reason I still don't think they've realized that we're there permanently, not just in this administration, but in Trump 28 and then thereafter, that this new media is not going away. We only get stronger and bigger. Bigger audiences and more relevant, more scoops every day. They're kind of on the sidelines. I don't think it's hit on them. They think you're a curiosity. They also think you're curiosity that's just passing through. They have not embraced the fact that.

Unknown (25:39)

I am not you.

Natalie Winters (25:40)

And the people that follow you are there forever. Yes, Natalie, social media. How do, how do people follow you?

Steve Bannon (25:48)

Man?

Unknown (25:50)

Natalie G. Winters on all platforms. We'll have to find a way to do a special episode where I tell my stories from this weekend. I met Kennedy. How's that for a teaser?

Natalie Winters (26:01)

I hope you gave her. I hope you gave her the old what for. For that Daily Mail thing. Anyway, we'll talk about that later. Natalie, you're the best. Keep watch.

Unknown (26:11)

Have a good one.

Natalie Winters (26:14)

Okay, we're going to take a short commercial break. A huge event today in Spain and Portugal, still not explained. We had Dave Walsh on this morning. We've asked Dave Walsh to come back. Birchgold, take your phone out. Text Bannon at 989-898. Do it today. We need to get you smart. We need you to get the learning curve, because everything you hear in the traditional news business is all garbage. Remember, this is the worst April in the history of the world since the Great Depression. Yeah, well, that was two weeks ago. And now it's ok. Okay. All they're concerned about is the casino. All we're concerned about is your knowledge. Go to Bannon. Text Bannon B A N N O N 989-898. Get the ultimate guide to investing in gold and precious metals in the era of Donald John Trump and get to meet Philip Patrick and the team.

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Unknown (31:47)

Good evening. Authorities across Spain and Portugal are tonight scrambling to restore power to large areas of their countries after one of the biggest power outages in recent history. A cyber attack has been ruled out as the cause, with engineers instead blaming what has been called a rare atmospheric phenomenon that could take days to fully resolve. Ashena Haranag sent this report from Madrid. Carnage in Spain's capital. No traffic lights at this roundabout makes for an almost lawless scene as car and pedestrians navigate the disorder. It's a picture replicated across the country and in Portugal too. Both nations entirely cut off from power as the train network grounded to a halt. Some stranded passengers in Valencia walked the rest of their journeys. Railway lines deserted and phone lines dead by lunchtime. Office workers poured onto the streets, dazed and disconnected. We were working very well. Suddenly the computer went down. We thought it was a normal blackout, as it happens sometimes. But then we heard it was a cyber attack. This was through information, through the poor connection we had to the Internet. After that, we stopped having any comms, no access to the Internet, nothing. And then came the official announcements. Travel is only advised if necessary.

Unknown (33:16)

State security forces have increased their presence and vigilance on the streets and roads. But for the moment, no civil protection has been observed. As for railway traffic, it has stopped, as you know, for the safety of passengers.

Unknown (33:30)

Passengers wanting to travel in and out of the countries are desperate for movement. That's simply not happening. Flights in and out are certain, severely delayed or cancelled. Madrid and Barcelona airports are running off contingency generators. There are queues everywhere you look for taxis, staff, desks and check in. People are desperate for information. The dropout blamed on Spain's electricity grid. Portuguese grid officials say due to extreme temperature variations in the interior of Spain there were anomalous oscillations in the various very high voltage lines. A phenomenon known as induced atmospheric vibration. It's estimated that full normalization of the network could take up to a week. Two countries thrown into darkness and the cause is still.

Natalie Winters (34:22)

Okay folks, this is 7 million people in a very advanced industrial country. There's something not right here and I want everybody to take notes. That's why we covered it this morning as soon as I first heard about it and got some heads up from people that this was going to be big. Dave Walsh joins us. Dave, great job this morning. What is the mumbo jumbo Dave that they gave us at the end? My eyes are crossed. What is this new term induced what? And what are the sayings caused by.

Dave Walsh (34:54)

This is a phrase we have not heard before. Today's word salad from the Spanish government. Induced atmospheric vibration caused by overheating of transmission lines due to heat from the sun from the atmosphere. Nothing unusual about temperatures in Spain today. Actually this is a remarkable explanation that has never been proffered before. I have never heard of it. We have never heard of it. But I'm telling you it smacks of when you have a system that is now 50% dependent as theirs is on variable part time electricity sources. Solar, wind and battery storage, mainly solar. You are vastly exposed to needing one the importation of huge quantities of electricity for when you don't have those resources, which generally is like 75% of the time. Those resources aren't prevalent in enough abundance to create power. So they do have a massive interlink with France for nuclear power and of course a robust activity with Morocco and Libya on natural gas imports to fuel their remaining gas fired plants which they're closing over time as they're also closing their nuclear plants and they have a plan to close their last new coal plants in the next several years and attempt to be 80% dependent on variable electricity generation resources. Which means they'll be heavily dependent on France, Libya and Morocco going forward. Possibly if they build an LNG terminal be dependent on US LNG coming in there also this is the risk of having an energy system for electricity that is based on a firm foundation of variable nature based resources not controllable by human command or what we call dispatchable. And we are headed in the same direction here in our own system.

Natalie Winters (36:42)

I want to go to that. Is this part of the decarbonization effort? Are they farther along than Germany?

Dave Walsh (36:48)

Sir? They're in about the same place. They're about equal to Germany in the percentage of the capacity of power generation devices installed that are renewable. Solar plus wind in Spain is now about 66% of their installed capacity and about 50% of their electricity supply. So to offset when that's not present they now have massive importation of French nuclear and from their gas plants, gas coming from Libya and Morocco to offset all the time of day, the very lengthy time of day that this kind of resource supplies nothing. So you've got a very unstable grid and yeah, they're about absorption of real.

Natalie Winters (37:33)

Go ahead.

Dave Walsh (37:34)

They're about equal to Germany advertised percentage.

Natalie Winters (37:39)

Okay, yeah, I want to go to the United States but I want to break it down by states. I want to talk Florida, South Carolina and Texas. Those about as three MAGA states as you can get red blooded Americans live there. Are we heading down a path in those three states to replicate what Spain and Portugal have done?

Dave Walsh (38:02)

Sir, I'm sad to report in Texas we're there already on an installed capacity basis. Texas is now above about 55% solar, wind and battery storage. ERCOT is the grid there. The ERCOT plan for the next five years assembled by all their power companies is that the next five years will be 90% of the new capacity additions. The next five years will be solar and battery storage two hour a day storage, six hour a day solar. So Texas will be in exactly the same places Spain within five years. It's almost there now. And you know every summer we're talking because of that on this show about the electricity shortages imminent in the hottest days of the summer when they're just about out of power to meet normal air conditioning demand. When it's 98, 99 which happens frequently in large parts of Texas. Normal, normal days running out of electricity because of you don't have enough wind blowing late in the afternoon. And then solar power diminishes badly between 5 and 7 it reduces by like 80% but the temperatures hang in there to about 92% of peak till about 9 at night. So you get this massive Risk window in Texas between 5 and 8 o'clock when the temperatures remain very high but the solar concentration for power generation gets very, very low after about 5pm headed there. The Florida plan for the next 10 years is to install 30 go from 30,000 megawatts of solar, grow by about 30,000 more megawatts and only add about 2,000 megawatts of gas fired power here. So our whole plan in this state for the next 10 years is about 95% solar power, new capacity additions and about 5% manned control dispatchable, baseload gas fired. It's horrible. We're headed the same place in cost.

Natalie Winters (39:57)

Hang on, hang on. That's not horrible, that's insanity. There has to be Something I don't understand is because the new capital equipment is because it's this new thing why given and particularly now that Trump's in and Texas is Texas, how could this possibly be? You just told me that these two are on the path to be and quickly to be Spain and Portugal. We know that model doesn't work. We know it's absurd to even. We mock the Europeans for doing this. We mock the Europeans for decarbonizing on a cult. And here's what's so upsetting about it. The people that brought on the cult of decarbonization have totally walked away from it because it could limit their ability to build data centers and have power centers that can can power artificial intelligence. As soon as they see something they want more, they run to that. You don't hear any of this nonsense, any of this crap from these people anymore because they don't want to limit the power that they know that that artificial intelligence has. How can the state of Texas with Abbott and how can Florida with Desantis and these legislatures and no offense, I don't know 2/3 of the population is MAGA. How could this possibly go down this path which is so obviously the road to perdition?

Dave Walsh (41:19)

Sir, desantis won't address it. He has never addressed it, he has never spoken publicly about it. But his public service commission appointed by him has approved every single solar new capacity plan of Duke Energy and especially Nextera Teco submitted to the PSC here for the last five years under all those plans, those companies are installing nothing but solar power and battery storage. It's not, it's not a diverse energy model at all. It's one thing, it's solar and battery storage for the next 10 years. Here on top of the fact that these two companies with Tigo have spent about 13 billion in the last four years on the same stuff that operates here 22% of the time. The known capacity factor in Solar here is 22% operational, 78% not. Utilities benefit from this in the following way. The capital return on investment they're guaranteed by the Public Service Commission is 10.8%. The cost of this stuff has been four times more than building conventional combined cycle power plants, gas power plants. So they win, win, win because the Capex churn, the Capex investment is so much higher on which they get their guaranteed rate of return. This is a big win for them. They hide behind the notion of net zero de carb to defend and they now hide behind under the prior administration, hide behind the EPA in defending, adding nothing but this stuff that because it's so costly and so intermittent drives up electricity costs through the roof. It's gone up, power costs have gone up.

Natalie Winters (42:49)

But hang on, hang on. MAGA ain't shy about saying hey, this is not right. Why do I not hear rate payers? Or maybe we do and our ears just not out we'll give them a platform. Why are the ratepayers in Texas and in Florida, which are the two railheads of the MAGA movement, why are they not sitting there going this is outrageous, we're being ripped off on something. By the way, if you were doing this from something that had a longer good to it, you could see it. This doesn't. It was clearly a hoax, phony science. And the reason I know that is all the people that promoted it ditched it immediately when it came between them and the ultimate power of artificial intelligence. You don't hear any of this net zero crap anymore from the oligarchs. Why are the ratepayers not in rebellion down in Florida and in Texas?

Dave Walsh (43:34)

Sir, government officials here seem to think people want this here. They never cross link the high cost of it with doing this. The reality of it is never discussed in cost base by the utilities nor government officials here. Utilities are massive PAC donors to government officials here to get elected. The utilities are the second largest donor group in the state behind insurance companies. They control the state house, the state senate and the governor's thinking on anything about energy strategy. Most notoriously nxtera Nextera's articulated Capex stock program for equity growth of their firm is to be the world's largest owner of wind, solar and battery farms in the world. That is their articulated stock hype message on Wall Street. It has served them well. So now they want to backflip that into Florida and do the same thing Here this place is an embarrassment to them because they just built five, six years ago, five major huge combined cycle plants. We knew as much about CO2 five years ago when they did that. Now they're beginning to throttle those back, run them part time intermittent, up and down, up and down, making them much more inefficient to back up solar that only operates here about 22% of the time. Now this is, it's a big money game for the utilities. They're a massive donor the general population because they promote so much false information on this stuff being kind of free, which is entirely false information by the fact that this is somehow cheap energy. It's way not. It's four times more costly because it's so intermittent and part time. Texas, the same thing's been underway. There has to be a change and the legislature there is considering now a requirement that half of new capacity in Texas has to be baseload, continuous duty, human controlled. That's now under consideration in Texas house. That's great news that would help solve this in Texas. Over here nothing of the sort's underway. DeSantis has been duplicitous and quiet about the whole damn thing and has not been forthright with the people. And the real cost of this in way reduced reliability, reserve margins going way way down and cost going way way up which they have. They have Duke's cost here of 42% the last eight years and about 32% in the last four years largely because of this. Because of the nine, the eight or so billion that they have planned to put into this plus the 3 billion they put into this already that generates almost no power. It's very sad.

Natalie Winters (46:03)

It makes a lot of money. What about the Ambronia? Makes a lot of money for it because they're putting in new capex and getting and getting and getting what the ratepayers to pay for it with a guaranteed 10%. What about the great state of South Carolina? Another MAGA state, sir.

Dave Walsh (46:19)

South Carolina has recently extended the life of two coal plants. The Santee Cooper Generating Company that's owned by the state. Very unusual model in the Southeast have a state owned electricity utility generation company has extended the life of plant Whyna and its other large coal plant there for five to seven years because of the power shortage. So that's good news. Now by the way, Duke Energy named a new president and CEO Harry Sedaris. Great guy, great engineer, understands all this. Within two weeks of being announced, he's announced an alliance with GE Vernova to buy Seven new advanced gas turbines. Now we're hoping a couple of them come here to Florida, South North Carolina, get two or three or four of those. Cincinnati, get one or two of them in the whole Duke world and build some combined cycle continuous duty baseload power. Hopefully at the same time back in Florida, the chairman of Florida Power and Light of Nxtera has announced an alliance with GE Vernova to buy gas turbines for their hyperscaler clients around the country. So here's FPNL nxtera announcing for Florida net zero decarbon solar only. But for their hyperscaler AI clients nationally they're buying a bunch of gas turbines to feed them 24 hour a day cost effective power. You talk about duplicitous kind of rhetoric from one company, Solarize Florida based on a net zero decarb philosophy. Ruin power capacity here and reliability. Drive costs through the roof. But give hyperscalers exactly what they need. 24 hour a day combined cycle gas fired power around the country supplied by Nextera. Just announced by that an alliance with GE for that purpose. Not here for ratepayers but for their hyperscale clients. It's, you know, we have some awkward things going on here in this space.

Natalie Winters (48:08)

Last thing, only 10% of Spain and Portugal are back online. They say it could take four or five days. This could be very dangerous. I mean you've got, you got a country with 7 million people, large urban areas that have no power whatsoever. And you can tell these urban areas are not set up for that. Sir.

Dave Walsh (48:27)

Well before we connected in this forum, Texas had that happen in the winter back three years ago. Grid loss for about close to a week in the Snowmageddon three years ago in January. In the last three summers that we've been chatting back and forth about Texas crisis in July and August that comes up about every two weeks. They've been that close to losing the entire grid. In Texas when your demand exceeds supply, you can easily lose the grid. You've got too much demand being placed on resources. Causes units to shut down, causes a reconstruction of the grid. Logic and programming to get it back up and running can take a week to 10 days. That's a disaster. Texas has been right on the verge of that about five times in the last two summers. Same set of issues is here and we haven't called it induced atmospheric vibration. It's shortage of electricity to meet demand. So they've skated by in Texas the last two years with a lot of demand curtailment and voluntary requests of users to Scale back washers, dryers, air conditioning in the late afternoon. And that's worked. Fortunately, that's worked. But they've been that close also to losing the grid for up to a week or more in Texas the last two years. Because this is what happens when you lose the grid. It takes a while to reconstruct the system. It's not physical. It's a lot of programming and interconnections to make it resync and get back up and running. You don't want to lose the grid. Spain has done that. It's a complete disaster.

Natalie Winters (49:58)

Dave, I know you're following this one for us. We'll talk to you tomorrow morning. Where's your social media in the interim, sir?

Dave Walsh (50:05)

I appreciate the opportunity to speak about it, Steve. It's on X Truth Social and getter davewalsh energy.com thank you.

Natalie Winters (50:14)

When you talk about it, my head blows up. It can't. I mean, it could happen anywhere else in the country. It could not possibly happen in Texas and Florida, but it's happening in Texas and Florida. It just shows you unless you keep them honest every day of the week, you just never know.

Dave Walsh (50:29)

Right?

Natalie Winters (50:29)

You just got to do it. You got to be on top of it nonstop. The situation in Texas, out of control, that Texas house. Anyway, Dave Walsh, you're a great man. Thanks for doing this. We're going to lose some of our contributors here in the next couple of weeks that are going to go to jobs in other places, right to high office. We'll make some announcements. I hope one day. Dave Walsh is one of them. He's a guy that the administration needs big time and we need you. What we're going to need is you demand the ramparts. Scott Besant is out today. And what does Scott Besant say? Scott Besant, I don't know if I have this. Yes, Scott Besant just tweeted out. This is called Truth, folks. We had another successful Big Six meeting today and we hope to have a tax bill done by the 4th of July. The House is moving quickly. Happy now the steps agreement. Thune said today would be the summer. Scott Bessant, finally. This is why he's a safe pair of hands as Secretary of the treasury with all the happy talk of Polly Pockets. He said this would never happen. Scott comes out today and says we hope by July. That means those guys working through the Memorial Day weekend and grinding through to hopefully get it by 6 July or 4 July or somewhere around them. It's the first time anybody's put a real time frame here. Even with all the hard work they're going to do, I think it's going to come later. So watch. And this is why people are talking about Stefanik for Speak of the House. The house guys understand their whole summer is going to be shot. Not that that's a priority for me. But there ain't going to be any August recess. We're going to have to grind this one folks. And we will be here every day documenting it for you. Home title lock, the $1 million triple lock guarantee. Number one, you get 247 coverage. Number two, no matter at any time, day or night, anybody messes with your title they will alert you. Number three, they have a million dollar restoration program to make sure you get your title back healthy and make sure you own and have the claim on your house. Go to hometitlelock.com promo code Steve and talk to Natalie Dominguez and the team. We will see you back here at 10:00am Eastern Daylight Time tomorrow morning in the War Room.

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