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The Reality of the Competition With China
I'm not convinced that the competition with China necessarily requires substantial military investments. Maybe we shouldn't be talking about spending more on the military to compete with China. Or, you know, an energy transition,. What if we were really to spend some share of a $900 billion defense budget on an energy transformation? And as we talked about in the last podcast, it's not going to happen. The regulatory hurdles are too big. It's just too entrenched right now.