This is a special edition of Macro Voices, the premier financial podcast targeting professional

finance, high net worth individuals, family offices, and other sophisticated investors.

Now for this special edition of Macro Voices, here's Eric Townsend.

I'm Eric Townsend and this is the introduction for the preview of the new and improved rewrite

of episode number two of my energy transition crisis docu-series project.

If you were looking for the regular weekly Macro Voices podcast with co-host Patrick

Suresna about macroeconomics and investing, this isn't it.

Regular Macro Voices episodes have three digit episode numbers and this week's episode

will probably be the next one or maybe even one or two after that in your podcast feed.

For those of you who have already heard the original version of episode two, I'll give

you a quick rundown on what's changed before we dive into the preview.

The most important point in the entire docu-series is that we can't phase out fossil fuels until

we first phase in viable replacements and we've yet to make enough progress on phasing

in viable replacements to even think about phasing out fossil fuels now.

Originally, that point was made in the first episode but it didn't really get substantiated

or backed up with any data until the second episode.

So the editorial decision we made was to leave any mention of this critically important

point out of the new version of the first episode so that it could be made and then backed

up with data and arguments all in one place in this new second episode.

So the first 16 minutes of what you're about to hear is brand new content.

When we get to the apple tree analogy, about 16 minutes in, that marks the point where

the content will be basically the same as the original second episode with only a few

...