Read or listen now. | Net zero and other green targets will do extraordinary damage to both the environment and people's lives, while being impossible to achieve.
The Western economy is being sacrificed on the Net Zero Alter. In relation to BHP, my lingering concern is that the price sits just below the ATH but BHP is heavily exposed to China. Whilst it is dangerous to trade on potential future geopolitical events, we know from the Russian sanctions that if trouble does kick off with China then BHP will almost certainly not be allowed to export iron ore to China that is then used to build out the Chinese navy. BHP will get slaughtered if that happens.
In addition to the tons of earth to be moved and the zillions of BTUs necessary for processing red, replacing a 100 MW gas turbine with solar and batteries will require 5 square miles of land and 1800 MWH of battery storage. At current prices, about $1.2 billion if you assume every day is sunny. If you wish to consider clouds make it $1.8 billion and 7.5 square miles. If you think snow is possible... well... I don't know.
The gas turbine would cost about $75 million. And actually runs better on snowy days.
The Western economy is being sacrificed on the Net Zero Alter. In relation to BHP, my lingering concern is that the price sits just below the ATH but BHP is heavily exposed to China. Whilst it is dangerous to trade on potential future geopolitical events, we know from the Russian sanctions that if trouble does kick off with China then BHP will almost certainly not be allowed to export iron ore to China that is then used to build out the Chinese navy. BHP will get slaughtered if that happens.
Its not just Net Zero, which is being driven by the WEF, its the Freedom - Grab via CBDC's, 15 minute Cities, Digital identity cards etc.
As a chemist who worked in Mining and Minerals R&D, I can assure that Mark Mills is correct.
One argument the ill informed will make is that there are plenty of minerals on on in the earth to supply the Green Revolution.
However, there is a difference between "accessible" resources and the % of an element in the earth's crust.
In addition to the tons of earth to be moved and the zillions of BTUs necessary for processing red, replacing a 100 MW gas turbine with solar and batteries will require 5 square miles of land and 1800 MWH of battery storage. At current prices, about $1.2 billion if you assume every day is sunny. If you wish to consider clouds make it $1.8 billion and 7.5 square miles. If you think snow is possible... well... I don't know.
The gas turbine would cost about $75 million. And actually runs better on snowy days.