Chris Wright Goes To Washington. Liberty CEO met the Senate yesterday as he goes through the nomination process to become the next Secretary of Energy. Mr. Wright went with the all of the above energy talking point and recognized the enormous need for power that our Country has. Wright was introduced by Senator Hickenlooper of Colorado with the caveat that while the nominee is a zealous advocate for oil and gas, he is also a scientist that is open to discussion. My take is that the best thing that could happen is a bit of the inverse of the Biden era. Vocal support for oil and gas while regulations and demand fuel the solar market. If you remember, oil and gas production is at an all-time high as we speak.
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The Mega Power. Constellation is acquiring Calpine for $16billion to create a portfolio of 60GW and adds quite a bit of thermal power to Constellation’s fleet. There’s an expectation that regulators will want some divestiture to limit concentration but with the demand for power, regulators will likely also be sensitive to the pushback on anything limiting power generation.
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