Welfare Kings? Study Finds Half of New Oil Production Unprofitable Without Government Handouts
Nature Energy study notes 50 percent of new oil production in America is unprofitable without government subsidies.
Why are red queens on playing cards always so sad? Maybe because you can not win the race. The analogy from Alice in Wonderland of the Red Queen Race is used several times in Extracted.
It is with all mineral resources as well as ecosystems (fish, soil or forest), the faster we extract from the crust the faster the occurrence and we need more and more energy to get the status quo - also in the form of Fiat money:
Without state subsidies, according to Nature Energy, more than 50% of Fracking Wells would not be profitable. For liberals, but also 'greens', of course very bitter, because this subsidy or Us taxpayer leads to export cheap energy to China. This is a cross-subsidy for Asia's often soiled industry ...
Copper is present at very small concentrations, about 25 parts per million, in the upper crust. To produce 1 kilogram of copper from the undifferentiated crust, we would need to process 40 tons of rock.
The average American home consumes about 9,000 kilowatt-hours per year of electric energy, or 32,400 MJ.
Lithium recycling is almost non-existent - less than 1% globally partly because it's cheaper than to recycle it.
Mining the solar system. Even if it turns out that asteroids and other planets have minerals we want, "the energy cost needed to reach them, mine ores, and then bring back the minds to earth is truly out of this world (56) ,
Depletion is unavoidable
Perhaps this is why we have low oil prices now!]: Jevons and Hotelling emphasize a certain amount of time. Industry will not be able to do so. Consequently, there is a limit to the low-grade resources the industry can exploit. Economists assume that technology will always come to the rescue, lower costs of extraction and restoring.But this is a leap of faith: technology has a monetary and energy cost so there are limits to what it can do.
And one thing is for sure:
The metaphor of Achilles' heel is often used when a critical defect. Petroleum could be the Achilles' heel of modern society. It could be argued that phosphorus is even more essential than oil.
Optimism about the depletion problem comes from a basic mistake .