“Amazon, Google, Meta, Microsoft, and Oracle have announced AI capital spending plans totaling $650 billion this year, up 70% from 2025 and up 650% from 2020. This single-year spending total is larger than the individual Gross Domestic Product of 168 nations.”

“Economy-transforming artificial intelligence faces a rising battle between the Trump administration and progressive environmental groups, a major issue for the mid-term elections.”

Artificial intelligence is impacting the economy on a scale that may surpass changes from the internet revolution. Science, technology, energy, transportation, health care, industry, and business are being transformed at an accelerating pace. President Trump has emerged as an AI champion, but opposition is rising from progressive and environmental groups.

The term “artificial intelligence” was coined by John McCarthy at Dartmouth College in 1955. But it took 67 years until the introduction of ChatGPT in November of 2022 for AI systems to master the complexities of human language.…

“[New York Governor] Hochul’s shift could become a blueprint for Democrats across the country as they desperately try to convince voters they’re aggressively tackling cost-of-living concerns — including energy bills — ahead of the midterm elections.” – Politico, March 7, 2026

Next time you hear that climate policies are affordable or that wind and solar save money, look out the window. What are consumers saying? What are politicians under affordability pressure saying? No quantity of studies or fearmongering about climate can refute what is happening in the real world. Energy prices, energy economics, matter.

NY Governor Kathy Hochul

Democrat politicians today are retreating from heady climate goals of the past. Consider this article in Politico, “‘Hurting peoples’ pocketbooks’: Hochul pushes to pare back landmark climate law.”

“The New York governor is pushing for changes to the state’s landmark climate law because of affordability concerns, reflecting a national clash between high energy prices and environmental goals,” Marie French reports, adding:

It’s a major shift for Gov.

“Europe’s biggest nuclear power operator EDF, which manages France’s fleet of 57 reactors, is under pressure to show it can improve on its record of reactor construction. Recent projects have been severely delayed and hugely over budget, taking well over 10 years to complete.” – Financial Times, February 20, 2026).

There’s a new leader in the nuclear power plant cost overrun derby, and it isn’t even in the clubhouse yet. Britain’s Hinkley Point C — being built in Somerset by France’s government-owned Électricité de France (EDF) — is now going to cost at least £49 billion ($65 billion) if it goes into service in 2030 and another £1 billion ($1.3 billion) if the first unit is delayed to 2031. This equates to $10 million per megawatt–best case–with multiple years of waiting.…

Ed note: The extract below from a Joint Economic Committee Staff Report briefly describes the end of oil price and allocation regulation in 1981, righting one of the worst energy fiascos in U.S. history. This experience has taken price controls off the political table ever since with petroleum, including today with the Iran War. [“President Reagan’s Economic Legacy,” Section C: Energy Shortages and Regulatory Failures]

In the 1970s, OPEC (the Organization of Petroleum Exporting Countries) was temporarily successful in driving up energy prices and hitting consumer wallets worldwide. OPEC’s manipulations of oil supplies were turned into a full-scale energy crisis in the United States because of price controls in energy markets.

Rising oil prices hurt consumers, but long lines at gas stations and shortages of heating oil were the work of bad policy, not of markets.…