Vol. I · No. 1Established MMXXVIPittsburgh, Pa.
The Journal of American Industry
The Record of the New Industrial Age.
The Energy Desk

American industry is being rebuilt. This is the record of who is doing it.

A second industrial age is under way, on the pad, in the shop, along the pipeline, and in the plants coming back to American soil. The Industrial Capitalist is a journal, a podcast, and a private assembly for the builders leading it. We begin with energy, the industry that powers all the others.

An American refining complex beneath a heavy sky.
American energy · The industry that powers all the others
An expanding institution

The rebuilding begins with energy. Manufacturing, infrastructure, defense, and power will follow.

A welder at work amid sparks.
The Journal

The country is building again. New plants, new pipelines, new yards, new crews, and a generation of owners putting their names on the loan documents to make it happen. It has been chronicled by outsiders for too long. We start in the oil patch, where the rebuilding began and where it runs on relationships, patience, and physical courage. What we build for these people becomes the template for every industry that follows.

Read the Journal

The Ledger

One email a week. Worth the minute.

What moved on the pad, who we spoke to, and the number that mattered. No advertising, ever.

    A simple sum, answered with a number.

    Weekly. Leave any time. About The Ledger · Privacy

    The Record · Season One

    The Record

    Long-form conversations with the people rebuilding American industry, on the record. Each season goes deep on one industry.

    Season One · In production

    The first conversations are being recorded now. The episode list will appear here.

    Have an idea for an episode, or a guest? Tell us

    Field Terms

    The words of the trade, in plain language.

    Explainers for the pad, the shop floor, the job site, and the bank. Written by people who use them.

    • What is pigging?

      Pigging sends a device, the pig, through a pipeline under pressure to clean it, remove water, separate products, or inspect the wall. The basics of pigs, launchers, and receivers.

      Read

    • What is hydrostatic testing?

      Hydrostatic testing fills a pipeline or vessel with water, raises it above its working pressure, and holds it to prove it will not leak or fail. Here is how a hydrotest actually runs.

      Read

    • What is nitrogen purging?

      Nitrogen purging displaces air, oxygen, or hydrocarbons from a pipeline or vessel with dry, inert nitrogen gas. What it is for, how it is done, and what the numbers on the trailer mean.

      Read

    All field terms

    A Meeting of the Minds

    The Assembly

    i

    Salon dinners

    Once a quarter, by invitation only. Twelve seats, each hand-selected from the thought leaders across the pad: one anchor operator and eleven rising builders. The guest list is never published.

    The table
    ii

    The Summit

    An off-the-record annual gathering of American energy’s builders and the capital behind them.

    The gathering
    iii

    The Index

    The Energy Fifty, our annual roll of the year’s most consequential builders.

    The roll
    A wind farm at dusk.
    The second industrial age

    An institution built to endure,
    and to grow.

    Membership is by invitation.

    We admit the people rebuilding American industry, beginning with energy. As new desks open, the room grows. The standard does not.

    Request an introduction