The buyouts are already triggering pushback and anxiety at the local level. The Associated Press recently reported that "private equity giants like BlackRock and Blackstone are buying local utilities to power AI-driven data centers, sparking ratepayer and regulator concerns."

Worries about rising power bills have been mounting in tandem with the buildup of AI data centers around the country. Earlier this year, the AP reported:

Rising power bills are "something legislators have been hearing a lot about. … More people are speaking out at the public utility commission in the past year than I've ever seen before," said Charlotte Shuff of the Oregon Citizens' Utility Board, a consumer advocacy group. "There's a massive outcry.

… Tricia Pridemore, who sits on Georgia's Public Service Commission and is president of the National Association of Regulatory Utility Commissioners, pointed to an already tightened electricity supply and increasing costs for power lines, utility poles, transformers and generators as utilities replace aging equipment or harden it against extreme weather.

The AI race is well underway, and it's no surprise that these massive international asset firms, given their history, are eager to support a technology with unprecedented potential for surveillance, manipulation, and outright control. There's also the prospect of a great return on investment, which is the official primary goal of these equity firms. But, as history shows, these multi-trillion dollar entities are not afraid to throw around their monetary might and bully companies into incorporating into their brand political causes such as climate alarmism and the "trans" agenda.  

BlackRock and Blackstone used to be the same company before separating in 1988. Together they control more than $13 trillion in assets. The bulk of that, about $12 trillion, is BlackRock's, while Blackstone has reported about $1.2 trillion in assets. Only two countries have GDPs larger than $13 trillion — the U.S. and China.

Scooping Up Utilities

The two behemoths are picking off utilities around the country. In January 2024, Blackstone bought a 20-percent stake in Northern Indiana Public Service Company for $2.1 billion. The utility announced it planned to boost green energy production after Blackstone entered the picture.