- Fear & Greed Index drops to 23 amid AI energy consumption policies scrutiny.
- Bitcoin trades at $74,382 (+0.2%) as energy costs pressure compute assets.
- Saudi PIF commits $40B USD to U.S. tech amid Gulf oil demand surge.
Key Takeaways
- Fear & Greed Index drops to 23 amid AI energy consumption policies scrutiny.
- Bitcoin trades at $74,382 (+0.2%) as energy costs pressure compute assets.
- Saudi PIF commits $40B USD to U.S. tech amid Gulf oil demand surge.
The Information Technology and Innovation Foundation (ITIF) submitted comments on AI energy consumption policies to the U.S. House Oversight Committee on April 16, 2026. Saudi Arabia and UAE monitor grid strains boosting oil demand.
AI Energy Consumption Policies Strain U.S. Grids
AI data centers consume surging power. The International Energy Agency (IEA) projects global data center demand at 1,000 TWh by 2026 IEA analysis.
Natural gas fills gaps. QatarEnergy signed $18B USD LNG deals with U.S. buyers in 2024. Saudi Aramco CEO Amin H. Nasser stated, "Oil and gas provide reliable baseload for AI growth."
Texas ERCOT grid peaked at 85 GW in 2024. Virginia's PJM Interconnection faces blackouts. Policies balance AI expansion and reliability.
Gulf States Adjust Oil Strategies
Saudi Vision 2030 drives diversification. Public Investment Fund (PIF) Governor Yasir Al-Rumayyan committed $40B USD to U.S. tech infrastructure, including data centers. NEOM builds 4 GW solar and green hydrogen.
Oil exports hit 7M bpd. Aramco ramps Jazan refinery to 400,000 bpd. Abu Dhabi's Barakah nuclear plant runs at 5.6 GW. Mubadala invests $5B USD in AI semiconductors via GlobalFoundries.
UAE targets compute sovereignty. Qatar boosts North Field LNG to 126 MTPA by 2027. Bahrain's Bapco partners ADNOC. GCC aligns via OPEC+.
Crypto Reflects Energy Pressures
Bitcoin holds at CoinGecko's $74,382 USD, up 0.2%. Alternative.me Fear & Greed Index hits 23 extreme fear. Ethereum drops 1.0% to $2,327.68 USD. XRP rises 3.3% to $1.43 USD.
Bitcoin mining used 121 TWh in 2023. Ethereum's proof-of-stake slashed usage 99%. Gulf LNG cools global data centers.
Traders watch U.S. rules. AI and crypto compete for power. Suppliers lock contracts.
OPEC+ Secures Demand
OPEC+ eyes U.S. policies. Riyadh cut 1M bpd voluntarily since 2023, lifting Brent to $82 USD/bbl. AI sustains crude above $70 USD/bbl.
Iran outputs 3.2M bpd. Normalization advances. Yemen truce aids shipping.
Abu Dhabi signs AI deals with Microsoft. UAE hosts World AI Summit. Qatar funds quantum blockchains. Bloomberg projects data center power doubling to 945 TWh by 2030.
Tech Efficiency Meets Gulf Ambitions
Nvidia Blackwell GPUs boost 4x inference. U.S. controls limit access. ADIA allocates $10B USD to semiconductors. PIF supports Dammam foundries.
Dubai DFSA licenses AI-fintech. VARA regulates crypto energy. AI powers Aramco trading.
Islamic green sukuk fund data centers. Blockchain settles LNG futures on Tadawul.
ITIF President Robert D. Atkinson emphasized, "AI energy consumption policies must prioritize grid resilience." The June 2026 OPEC+ summit will test these policies against Gulf strategies.
