Trump plans to approve power plants for AI through emergency declaration

Source Cryptopolitan

Donald Trump revealed he plans to establish power plants for artificial intelligence through an emergency declaration. The President also mentioned plans to increase electricity demand for technologies like artificial intelligence.

He said inadequate energy supplies posed an imminent and growing threat to the United States’ prosperity and national security. Trump revealed he would fix that by speeding up approval processes to deploy more oil drilling rigs, build more pipelines, and bring more power plants onto the grid.

Trump approves power plant for AI through emergency declaration

President Trump declared a National Energy Emergency to “unlock the liquid gold under our feet.” He emphasized that the U.S. will become a manufacturing superpower and the world capital of artificial intelligence. 

“We’re going to build electric generating facilities. I’m going to get the approval under emergency declaration. I can get the approvals done myself without having to go through years of waiting.”

– Donald Trump at the World Economic Forum in Davos, Switzerland

Trump disclosed that power plants can be fueled with anything and that coal will also be used as a backup.

Power demand from artificial intelligence data centers in the U.S. is forecasted to surge in the coming years. McKinsey reported that the United States market for data centers is expected to grow from 25 GW of demand in 2024 to more than 80 GW in 2030.

The analytics firm also estimated that generative AI could help create between $2.6 trillion and $4.4 trillion in economic value throughout the global economy. However, the U.S. will require between 50 GW and 60 GW of additional data center infrastructure to achieve a quarter of the economic value by the end of the decade.

The tech firms building the AI data centers focused on procuring renewable energy to meet their climate goals. Trump emphasized his growing interest in nuclear power to meet the tech companies’ growing energy needs.

The president revealed that he wants power plants to connect directly to data centers rather than supplying electricity through the grid. He argued that there was no need to supply electricity through the grid because the plants were old and could be removed. 

Trump’s co-location setup has faced opposition from some utilities worried about losing fees. They have warned that taking power off the grid could lead to supply shortages.

According to the president, the U.S. needs double the energy it currently has for AI to be as big as it wants to be. He added that increasing energy production will make the United States very competitive with China and other countries.

Trump announced yesterday the creation of the Stargate AI infrastructure project with three top tech firms. OpenAI, SoftBank, and Oracle are expected to invest up to $500 billion into the project. The president referred to Stargate as the “largest infrastructure project in history.” The project will build physical and virtual infrastructure to power the next generation of AI, including data centers around the U.S. 

OpenAI CEO Sam Altman said that the U.S. needed to have the best AI infrastructure in the world to lead with the technology and capabilities.

Trump declares national energy emergency

Trump’s order emphasized the need for agencies to facilitate the identification, leasing, siting, production, transportation, refining, and generation of domestic energy resources. The energy emergency supports the production of domestic fossil fuels but fails to mention solar and wind energy.

The President referred to the presidential authority under the National Emergency Act, which gives him power to sidestep bureaucratic processes and public notifications. The Brennan Center also revealed that Trump could access 137 statutory powers after he declared a national emergency. Those powers include suspending some environmental regulations under landmark laws and speeding up energy project approval processes.

Trump said the United States’s insufficient energy production posed an unusual and extraordinary threat to the nation’s economy, national security, and foreign policy. The Trump administration hopes to change the country’s inadequate energy supply and infrastructure caused by the previous administration’s “harmful and shortlisted policies.”

Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Rout. Bridgewater Founder Dalio Publicly Backs Gold.Gold returns to the $5,000 mark as Bitcoin prices weaken to hit new lows; what is the future outlook?During the Asian session on Wednesday (February 4), gold ( XAUUSD) prices continued to
Author  TradingKey
13 hours ago
Gold returns to the $5,000 mark as Bitcoin prices weaken to hit new lows; what is the future outlook?During the Asian session on Wednesday (February 4), gold ( XAUUSD) prices continued to
placeholder
Gold rallies further beyond $5,050 amid flight to safety, dovish Fed expectationsGold (XAU/USD) attracts follow-through buying for the second consecutive day and surges past the $5,000 psychological mark during the Asian session on Wednesday amid the global flight to safety.
Author  FXStreet
14 hours ago
Gold (XAU/USD) attracts follow-through buying for the second consecutive day and surges past the $5,000 psychological mark during the Asian session on Wednesday amid the global flight to safety.
placeholder
Bitcoin Bottom Debate: $70,000 or $50,000? Where is the Bitcoin bottom? Can you buy the dip now? Cathie Wood suggests swapping gold for Bitcoin.On Tuesday (February 3), panic in the crypto market eased as Bitcoin ( BTC) prices reb
Author  TradingKey
Yesterday 10: 30
Where is the Bitcoin bottom? Can you buy the dip now? Cathie Wood suggests swapping gold for Bitcoin.On Tuesday (February 3), panic in the crypto market eased as Bitcoin ( BTC) prices reb
placeholder
Bitcoin Reaches ‘Fire-Sale’ Valuations as ETF Outflows Jump, Says BitwiseBitcoin’s two-year rolling MVRV z-score has dropped to its lowest level ever, pointing to extreme undervaluation.
Author  Mitrade
Yesterday 10: 25
Bitcoin’s two-year rolling MVRV z-score has dropped to its lowest level ever, pointing to extreme undervaluation.
placeholder
Analyst Flags XRP as Market’s ‘Best Risk/Reward’ Play as Token Tests Critical $1.60 SupportCrypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
Author  Mitrade
Yesterday 06: 24
Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
goTop
quote