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Why is the latest fossil fuel crisis pushing the world toward rapid electrification instead of a drilling boom? To find out, I chat with Tim Sahay and Kate Mackenzie, hosts of the Polycrisis newsletter and podcast, about the concept of “polycrisis” and the global rise of manufacturing-heavy electrostates. We examine the massive global diffusion of cheap electrotech and discuss why American climate wonks need to look past domestic policy and start paying attention to international macroeconomics.