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Stephen Lacey
Co-founder and Executive Editor, Latitude Media
Stephen Lacey is a veteran business journalist, editor, and audio producer who co-founded Latitude Media, where he serves as the Executive Editor.12 With nearly two decades of experience in the clean energy and climate technology sectors, Lacey has established himself as a prominent figure in reporting on the energy transition.24
Career Highlights
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Co-founder and Executive Editor at Latitude Media (November 2018 - Present): Lacey leads an integrated B2B news, research, and events company focused on clean energy and climate technology.1
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Former roles:
- Editor-in-Chief at Greentech Media (2013-2018)
- Producer/Host of "The Energy Gang" and "The Interchange" podcasts at Greentech Media (2013-2021)
- Deputy Editor for Climate at ThinkProgress (2011-2013)
- Editor/Producer at Renewable Energy World (2006-2011)1
Notable Work
- Host of "The Carbon Copy," a narrative-news show about business trends shaping the energy transition.14
- Created popular podcasts in the energy and climate sector, including "The Energy Gang," "The Interchange," and "A Matter of Degrees".3
Education
Lacey graduated from Franklin Pierce University with a degree in Journalism and Digital Media Production. He received the 2006 Marlin Fitzwater Award for Leadership in Public Communication upon graduation.1
Stephen Lacey's work at Latitude Media involves shaping editorial coverage, organizing live events, and developing creative partnerships to help investors, utilities, energy firms, and startups navigate the evolving landscape of clean energy and climate technology.24
Highlights
After stepping down, Fermi America's CEO was officially fired today.
@CarolineBGolin knows the data center industry as well as anyone. After leaving Google, she was approached by investors who wanted to know if Fermi was legit. She told them it wasn't -- and those investors decided not to work with her.
Her reaction: "told you"
Fermi raised $750 million on a promise to build the world's largest data center, named the project after the president, and even had cabinet secretaries secure their turbines. But then their overpromises unraveled, losing their only tenant and stalling construction.
A lot of people in the industry knew Fermi wasn't for real. But very few said it out loud.
"None of these people thought Fermi had what it took -- other than a lot of hype."
On Open Circuit this week, Caroline and @JigarShahDC break down what went wrong with Fermi. What other hyped-up projects that are selling their access to the president are next?
Headed into month three of the oil crisis, the energy rationing that hit Asia and Africa is headed West.
JPMorgan's commodity desk put out an internal memo recently that made the rounds. The Strait of Hormuz closure removed 13.7 million barrels per day from global supply in April. The world has been drawing down inventories at roughly 7 million barrels a day, activating whatever spare production capacity exists, and rationing.
But after every inventory drawdown and every petrochemical plant going dark across Asia and Africa, there's still roughly 2 million barrels per day unaccounted for.
And that means there's still more rationing to come. The signs are showing: Europe is already feeling it in diesel, with prices surpassing $200 a barrel last month. Lufthansa just cut 20,000 short haul flights, and American drivers are buying 5% fewer gallons at $4 a gallon.
JPMorgan calls it "a supply loss showing up on the demand side of the ledger."
At some point, the West will face the same set of decisions that hit Asia first: deciding who gets molecules, and who doesn't.
The question we kept coming back to on Open Circuit is whether any of this sticks. We're looking at a multi-year window before supply chains return to anything resembling normal. Is that long enough for new technologies and feedstocks to take hold?
And if you're an insurer right now, do you reinsure the refining and export infrastructure that was just damaged. Or do you start treating it like the house on the beach that keeps getting hit by hurricanes?
If capital decides this is a permanent risk rather than a one-time disruption, the security premium will get baked into imported molecules for a long time.
I started this crisis a little skeptical that we'd see much influence on the energy transition, but my eyes are open to the lasting impact this will have.
We grapple with the impact of rationing on the latest episode.
