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The global order book for natural gas turbines is projected to reach 100 GW for 2028 delivery, significantly exceeding the current global manufacturing capacity of approximately 60 GW per year.
The capital cost for new combined-cycle natural gas plants in the U.S. is projected to double, rising from approximately $1,200/kW for 2026 deliveries to nearly $2,500/kW for projects coming online in 2030-2031.
Current technology capital expenditures, primarily for data centers, represent nearly 2% of U.S. GDP, a higher share than the peak of the broadband buildout in 2000, which was 1.2% of GDP.
The large load interconnection queue in Texas (ERCOT) has grown from approximately 42 GW in January 2024 to 226 GW as of November 2025.
The 226 GW of large load interconnection requests in the ERCOT queue is more than 2.5 times the current peak electricity load in Texas, which is approximately 85 GW.
ERCOT forecasts that electricity demand in Texas will more than double, growing from just under 500 TWh in 2024 to approximately 1,000 TWh by 2030.
Transmission Service Providers in Texas forecast electricity demand will grow to approximately 1,600 TWh by 2030, a 240% increase from 2024 levels and significantly higher than ERCOT's forecast.
Global electricity expenditures have historically been range-bound, consistently accounting for between 3% and 4% of global GDP.
China's economy is significantly more electrified than that of the United States, as measured by the share of final energy consumption that comes from electricity.
Since 1990, China's electricity share of final energy consumption has quadrupled, rising from 7% to 30%.
China's strategic focus on electrification is driven by a desire for energy sovereignty, as electricity can be generated from its vast domestic coal reserves, reducing reliance on imported hydrocarbons.
Historically, global spending on electricity as a share of GDP has never surpassed spending on oil.