House budget slashes energy incentives crippling 81 percent of new power projects. AI race stumbles as U.S. chokes its own power supply

One of the oddest things in the House budget bill was cutting the private market incentives in energy markets.

81% of incremental power generation will be crippled by that single stroke of the pen.

How do we compete in AI and compete against China? They have an abundance of… pic.twitter.com/QOALsBwLum

— Chamath Palihapitiya (@chamath) May 22, 2025