California has a big problem.
The state is requiring that 100% of new cars be EVs by 2035.
Yet the state can’t provide enough electricity to supply even the current number of EVs. And it’s going to require a major technology shift to fix America’s electricity shortfall.
One new technology from Bill Gates and Warren Buffett could be the #1 solution.
It was a hot week for California.
Temperatures in the capitol city of Sacramento hit 116 – setting a new record.
Record high temperatures across the state had officials on high alert. When temperatures are high people stay inside, crank up the air conditioning and start using a lot more electricity.
This week California’s electric usage hit an all-time high – breaking a record from 16 years ago.
That created huge problems for the state’s electric grid – which is already tapped out.
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The California Independent System Operator explained:
Our top three conservation actions are:
- Set thermostats to 78 degrees or higher
- Avoid using large appliances and charging electric vehicles
- Turn off unnecessary lights
In the midst of a blazing heatwave – California is asking residents to stay home in the dark, limit the use of their A/C, and don’t charge your EV.
Californians pitched in and reduced their use of electricity. As a result, California was able to avoid planned “rolling blackouts.”
That would have meant that the electric grid operator would have intentionally taken certain areas offline temporarily – in order to keep the grid online.
Over 35,000 California homes did lose power this week due to heat related issues. However, the outages were not part of a state-wide rolling blackout.
Governor Gavin Newsom celebrated the fact that the state avoided rolling blackouts.
This week’s electricity shortages show how fragile the electric grid is. And it reveals just how critical it is that California and the U.S. rapidly expands new sources of cheap electricity.
Can Warren Buffett SOLVE America’s Energy Crisis?
That’s why Bill Gates and Warren Buffett are working on a next generation energy project.
In fact, the Microsoft (NASDAQ: MSFT) founder has spent the last 16 years developing this breakthrough technology. And last year he partnered with Warren Buffett’s Berkshire Hathaway (NYSE: BRK-B).
They’re investing over $2 billion to build a next generation power plant. And it could be the MODEL for clean, safe, cheap and reliable power across America.
That’s why the Department of Energy is also investing $2 billion in this project.
It’s critical that you get all the details – and get positioned right now.
Yours in Wealth,