Energy Independence

cross-posted from: https://exploding-heads.com/post/171978

Are we really expected to believe these companies are unable to borrow from traditional lenders:

• General Motors
• PG&E
• Ford

The line for Shah’s cash stretches to 150 companies seeking $127.7 billion in loans, ranging from new companies with unproven products to giants such as General Motors and PG&E, the California utility blamed for deadly wildfires. Funneling that much money to climate startups in a short time would be near impossible. Shah has begun writing bigger checks, including a record $9.2 billion commitment to a Ford joint venture making batteries in Tennessee and Kentucky.

The source of Shah’s financial firepower is the Energy Department’s Loan Programs Office, an overlooked piece of the Biden administration’s strategy to address climate change. Largely quiescent for almost a decade, the office is designed to finance businesses that are important to the country’s energy transition but unable to borrow from traditional lenders, often because their technology is seen as too risky or because the terms are too onerous.

This does not sound good.

The company announced on June 22 that between 15% and 30% of turbines installed by subsidiary Siemens Gamesa are currently suffering from component failure, prompting the company to withdraw profit estimates and sending stock plunging 36% in the immediate aftermath of the announcement. Christian Burch, CEO of Siemens Energy, said in a call with reporters Friday that “too much had been swept under the carpet” at the energy giant’s subsidiary and that the quality control issues were “more severe than [he] thought possible,”

“Electric cars will kill more than half of U.S. auto jobs and decimate the suppliers that they decimated already,” said Trump, who also called the Biden administration's climate initiatives “heartless and disloyal.”

The solar PV supply chain starts with polysilicon, a key raw material needed to create wafers. China is home to seven of the top 10 producers of polysilicon, which includes companies like Tongwei Solar and Asia Silicon.

Where China is most dominant though, is in the manufacturing of wafers and cells. This is partly because it’s more economical to make these components close to wherever polysilicon is being produced.

The second-largest producer of cells and panels is the APAC region (ex-China), at 12% and 15% of total capacity. However, according to U.S. officials, much of this output is actually owned by Chinese firms attempting to evade U.S. tariffs.

While these companies would normally be subject to higher tariffs, the Biden administration has paused any tariff increases for the next two years. This can be interpreted as a sign of the country’s dependence on China for clean energy infrastructure, which could prove problematic given China’s history of economic coercion.

For electric vehicles (EVs), this issue of critical mineral supplies is the key to everything. The main reason why EVs weigh so much more than gas and diesel powered cars is the prodigious amount of critical energy minerals that go into the making of the lithium-ion batteries that power them. The minerals required include lithium, nickel, cobalt, manganese, and graphite, all of which are recovered via hard rock mining operations.

But the U.S. and other countries in North America and Europe made a collective decision to essentially farm out the business of hard rock mining to developing nations and the processing of them to China in the 1980s as part of the environmental priorities of that time. As a result, most supply chains for these and other key energy minerals are under control of the communist Chinese government.

Local wells in the area have gone dry since the construction of multiple utility-scale solar projects near Desert Center—threatening the only water source for hundreds of people and a handful of local businesses. Solar farms typically don’t use much water when operating, but during construction, the law requires developers to mitigate dust—which can spread health problems like Valley Fever. That requires water.

Of the total of 422 reactors, 262 reactors have been in operation for 31 to 50 years. In other words, about 62% of all current nuclear reactors were connected to the grid between 1973 and 1992.

Which is why there is no real “emerging market” for EVs in the United States as much as there’s an industrial policy in place that props up EVs with government purchases, propaganda, endless state subsidies, cronyism, taxpayer-backed loans, and edicts. The green “revolution” is an elite-driven, top-down technocratic project.

And it’s increasingly clear that the only reason giant rent-seeking carmakers are so heavily invested in EV development is that government is promising to artificially limit the production of gas-powered cars.

"I think that the climate narrative has been hijacked by the World Economic Forum and by Bill Gates," Kennedy said. "Crises are used by elites within societies to consolidate their power, to diminish democracy, to constrict civil rights and human rights, and to impose top-down totalitarian controls."

"I think the climate crisis is being used in that way by those people," he added.

Kennedy proceeded to offer his solution to climate issues. "My approach to climate has always been a free market approach… we should use marketplace rules rather than top-down controls, we should reward the cheapest, most efficient energy sources," which he "generally" feels to be renewables

The country is suffering from a pothole crisis, with half as many filled last year compared to a decade ago amid an estimated £12 billion price tag to fill them all.

Road industry bodies have raised fears that electric cars could exacerbate the problem on residential roads. The number of electric cars being driven has tripled to 900,000 since 2019 ahead of the Government’s 2030 ban on sales of new petrol and diesel cars as part of its net zero drive.

cross-posted from: https://exploding-heads.com/post/156316

Green light to push forward with plans to build new nuclear plants in a country that voted 40 years ago to phase out atomic power.

Changing the target to “100% fossil-free” electricity, from “100% renewable” is key to the government’s plan to meet an expected doubling of electricity demand to around 300 TwH by 2040 and reach net zero emissions by 2045.

cross-posted from: https://exploding-heads.com/post/148823

“Trying to shut down protesters’ use of Facebook is yet another example of the way that freedom of public assembly in NSW is being attacked by successive governments,”

cross-posted from: https://exploding-heads.com/post/138632

The study found that the burning of methane in gas stoves raised household levels of benzene — a carcinogenic chemical — to those comparable with secondhand smoke, after setting one burner to high or an oven to 350 degrees Fahrenheit for 45 minutes.

Outlets such as The New York Times, the Los Angeles Times and NPR covered the study in the past seven days, but did not mention that the study was conducted with “primary support” from the High Tide Foundation, a climate activist non-profit committed to reducing methane that was co-founded by Richard Lawrence, an investment banker with significant economic ties to China.

The proposed emissions regulations discussed at the hearing could make EVs “account for 67% of new light-duty vehicle sales and 46% of new medium-duty vehicle sales” in model year 2032,

Authorities busted a Democratic donor for allegedly starting a "ginormous inferno" in Yosemite National Park. Democratic politicians had insisted climate change was to blame for the blaze, which destroyed more than 100 homes and injured several firefighters in July 2022.

Tesla has 45,000 charging stations worldwide, 12,000 of which are in the US. Tesla owners also receive a J1772 adapter with their car to access more than 53,000 other Level 2 stations in North America.

The number of stations will likely increase now that Ford and GM are adding NACS natively to future vehicles, beginning in 2024-25.

A solid state battery "has higher energy density than a Li-ion battery that uses liquid electrolyte solution. It doesn’t have a risk of explosion or fire, so there is no need to have components for safety, thus saving more space. Then we have more space to put more active materials which increase battery capacity in the battery."

The initiative comes amid increasing concerns over the unintended consequences electric vehicles may have on the environment. According to the Foundation for Economic Education, only about 5% of lithium-ion batteries are recyclable, compared to the 90% of batteries in conventional cars.

Has Canada declared war on the USA by shutting down their power generation capability?

And I always thought those Canadians were so nice.

This is very interesting.

I never realized desert plants store do much carbon under grounf

Singapore has long been recognized as a global economic powerhouse, with its robust business ecosystem and favorable tax policies. Among its various tax schemes, the Singapore personal income tax holds a significant role in supporting the nation's economic growth. This article delves into the key aspects of Singapore personal income tax system, its importance in the country's economy, and how it benefits individuals and businesses alike. Overview of Singapore Personal Income Tax System Singapore follows a progressive tax system for personal income tax, where individuals are taxed based on their income levels. The tax rates range from 0% to a maximum of 22% for residents, depending on their income brackets. Non-residents, on the other hand, are taxed at a flat rate of 15% or the resident rate, whichever is higher. The tax year in Singapore follows the calendar year, and individuals are required to file their tax returns by April 15th of the following year. Benefits of Singapore Personal Income Tax for Individuals The Singapore personal income tax system offers several benefits to individuals. Firstly, it has a progressive tax structure, which means that individuals with higher incomes are taxed at a higher rate, while those with lower incomes enjoy lower tax rates. This helps to promote income redistribution and reduce income inequality, ensuring that the tax burden is proportionate to an individual's ability to pay.

Secondly, Singapore offers various tax reliefs, deductions, and rebates to individuals, which help to lower their overall tax liabilities. For instance, individuals can claim deductions for expenses such as employment-related expenses, donations, and qualifying child relief, which can significantly reduce their taxable income. This encourages savings, investments, and charitable contributions, while providing individuals with more disposable income to meet their financial goals. Benefits of Singapore Personal Income Tax for Businesses The personal income tax for foreigners in Singapore also offers advantages to businesses. Singapore follows a territorial tax system, which means that only income derived from or accrued in Singapore is taxable. Foreign-sourced income, capital gains, and dividends are generally not subject to tax in Singapore, making it an attractive location for businesses and high-net-worth individuals.

Furthermore, Singapore offers various tax incentives and exemptions for businesses, such as the Not Ordinarily Resident (NOR) scheme, which provides favorable tax treatment for qualifying expatriates, and the Global Trader Program (GTP), which offers tax concessions for qualifying trading companies. These incentives help to attract foreign investment, promote entrepreneurship, and foster a business-friendly environment, supporting the growth of local and international businesses in Singapore. Conclusion The Singapore personal income tax system plays a vital role in supporting the nation's economic growth by providing a stable source of revenue for the government and promoting income redistribution.

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The Finnish example is a testament to how nuclear can play a part in solving the current energy crisis, with consumers still paying sky-high fees for energy in many European countries.

However, the hypocrisy is of course that when power prices were extremely high in 2022, hurting consumers - it was all Russia's fault; but now that prices are plummeting, operators can't have that and withdraw supply to hurt consumers.

Do you see a pattern here?

Oil prices sit at $72 a barrel, and the Biden administration hopes to purchase reserve oil at anywhere between $67 to $72 a barrel. Republicans tried to fill the reserve to its capacity in the spring of 2020—when a barrel of oil cost as low as $15—but Senate Democrats blocked the plan, attacking it as a "bailout for big oil."

Just three years ago the Democrats blocked President Trump from filling the Strategic Oil Reserves at $24 per barrel.