Stuart Varney: America's tech giants are spending billions to find geothermal energy
During his "My Take," Tuesday, "Varney & Co." host Stuart Varney discussed Mark Zuckerberg's partnership with Sage Geosystems, a move that will cost Meta billions, but grant the tech company access to the electricity needed to power its data centers.
STUART VARNEY: Meta, formerly known as Facebook, is drilling way down to tap into the geothermal power under the earth's surface.
And you thought it was just a social media company.
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The point is it has the money to make ground-breaking investments in green energy.
Partnering with Sage Geosystems, their engineers drill down thousands of feet to get to the super hot rocks below the surface.
They pump in water which gets super hot, and that drives turbines that make very green electricity.
Meta needs it to power its data centers. They require vast amounts of juice.
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With this kind of geothermal energy, the electricity it produces is emissions-free.
Developing this technology costs billions. Installing it costs billions more.
Who has the money for this? Big tech. There are many people on the left who object to the size and power of America's technology giants.
They want to break them up. They call them monopolies. OK, that’s politics.
All the money they make allows them to spend big on very important technologies, and it allows them to take a dominant position in industries outside their core business.
The left thinks that’s stifling progress. It’s not. It is funding it. It is Big Tech that’s taking the risk, not the taxpayer.
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A future Harris administration will be pushed to the left by the socialist wing of the Democratic Party.
Sens. Warren and Sanders are leading the charge. To them, big is bad. They have no time for tech billionaires.
However, they should remember that if America wants progress in green energy, it is Big Tech which has the money and the will to develop it.
Surely, they can get behind that.