#nuclearpower

Bjorn Lomborg points to cold facts of global warming

Bjorn Lomborg has written a powerful piece in the Weekend Australian which looks at the “cost” of climate emergency driven policy. It makes a complete mockery of the people who tell us we must save the planet with their prescriptions. Although CM has made the assertion many times that politicians make promises which are so unaffordable for so little return that it makes no economic sense. The hypocrisy of signatories is also telling.

Some of the choice quotes,

After New Zealand made its 2050 zero emissions promise, the government commissioned a report on the costs. This found that achieving this goal in the most cost-effective manner (which strains credulity because policy seldom if ever manages to be cost efficient) would cost more than last year’s entire national budget on social security, welfare, health, education, police, courts, defence, environment and every other part of government combined. Each and every year.

To replace a 1ha gas-fired power plant, society needs 73ha of solar panels, 239ha of onshore wind turbines or an unbelievable 6000ha of biomass...We often hear that wind and solar energy are cheaper than fossil fuels, but at best that is true only when the wind is blowing or the sun is shining. It is deeply misleading to compare the energy cost of wind or solar to fossil fuels only when it is windy and sunny

Most people think renewables are overwhelmingly made up of solar and wind. Nothing could be further from the truth. Solar and wind contributed only 2.4 per cent of the EU total energy demand in 2017, according to the latest numbers from the International Energy Agency. Another 1.7 per cent came from hydro and 0.4 per cent from geothermal energy…In comparison, 10 per cent — more than two-thirds of all the ­renewable energy in the EU — comes from the world’s oldest ­energy source: [burning] wood.

Today, fewer than 0.3 per cent of all cars are electric, and even if we could reach 200 million electric cars in 2040, the IEA estimates this would ­reduce emissions by less than 1 per cent. That is why, in the face of years of failure, politicians have continued doing one thing: making ever bigger promises.

The promises made in Rio de Janeiro in 1992 and in the Kyoto Treaty in 1997 fell apart. A new study of the promises made under the Paris Agreement finds that of almost 200 signatories, only 17 countries — the likes of Samoa and Algeria — are living up to them, and these are succeeding mostly because they promised so little. But even if every country did everything promised in the Paris Agreement, the emission cuts by 2030 would add up to only 1 per cent of what would be needed to keep temperature rises under 2C.

Why doesn’t Atlassian lead the charge if it is such a great idea?

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Atlassian Co-Founder Mike Cannon-Brookes (MCB) has put forward a vision that is so compelling for Australia to junk its $70bn coal industry, it is a real wonder why he has not decided to deploy the tech giant’s own capital to seize those obvious riches? He believes coal will be worth zero in 15-25 years. If it is such a dead industry, can he explain why China’s coal-fired power (great infographics here) has grown from 200GW in 2000 to over 900GW today? Or India that has grown from 61GW to 221GW of coal-fired power gen? Why would Adani persevere in the face of 8 years of government and regulatory roadblocks in Queensland if coal wasn’t on the menu for India’s future?

The International Energy Agency (IEA) notes the following on coal,

Coal power generation increased 3% in 2018 (similar to the 2017 increase), and for the first time crossed the 10 000 TWh mark. Coal remains firmly in place as the largest source of power at 38% of overall generation. Growth was mainly in Asia, particularly in China and India.

Note in the following map, yellow and red are levels of intensity and in operation. Grey is that idled or shut down.

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Global wind and solar installations account for about the same as China’s current coal-fired power capacity.

MCB’s idea that we should export the sun and wind is utterly fanciful. The amount of transmission loss over distances in Australia would be massive. Our own energy market operator, AEMO, noted that energy transmission losses for those wind and solar farms located furthest from the main load hubs, in north Queensland, western NSW and some in Victoria could suffer marginal loss factors (MLF) of up to 22%.

To think our closest neighbours – New Zealand, Papua New Guinea & East Timor – are at least 200km away from our extremities. At least 500km to major city centres like Port Moresby. That is assuming our ecomentalist Department of Environment would fast track approval for Cape York and the Daintree Forest to be logged and turned into a wind and solar park to then run some cable to Port Moresby. The problem with MLF is that if Port Moresby demanded 1MW of energy, then it would need to pay for more than it needed to anticipate the MLF which would grow the further the demand was from the main load hubs that could supply it.

To add to the problem, Australia’s ridiculously high power prices would be completely unattractive to the likes of Papua New Guinea. They would be better off ignoring Australia’s transmission and self-supply. That is exactly what it is doing. PNG currently get 30% of its power from hydro, 40% from gas and 24% from oil. Note it has signed a memorandum of agreement to install, you guessed it, a 60MW coal-fired power station in Lae. Energy security is on the menu.

MCB has suggested we set up local manufacturing to harness all of our local resources. Once again, a great idea on paper, but in practice, our prowess in low-cost manufacturing has a terrible track record. The now defunct auto industry is exhibit A on that plan.

As is so often the case for celebrity billionaires, thought bubbles are often free to them but costly to others. Tesla shareholders know that feeling. Who could forget JCB’s retweet of Greta Thunberg at the time of the election, imploring Australians to “not f*ck it up“??

MCB may drive a Tesla and have plans to make Atlassian 100% powered by renewables by 2025 but for the sake of shareholders it best he sticks to his core business unless he plans to divert capital to diversify Atlassian and harness this green future. Perhaps he should put Greta Thunberg on the Atlassian board as an executive director on renewable exports?

Actually, vote on the political emergency

No surprise to see The Guardian parrot on about a climate emergency. The editorial completely misses out on the political emergency we face. The economic climate is a massive issue facing Australia. When Bill Shorten tells us that he “will change the nation forever” we shouldn’t view that positively. It is probably the honest thing he has said. Labor’s policy suite is the worst possible collection one could assemble to tackle what economic headwinds lie ahead. Our complacency is deeply disconcerting.

First let’s debunk the climate noise in The Guardian.

The math on the climate emergency is simple. Australia contributes 0.0000156% of global carbon emissions. No matter what we do our impact is zip. If we sell it as 560 million tonnes it sounds huge but the percentage term is all that is relevant. Even Dr Finkel, our climate science guru, agrees. What that number means is that Australia could emit 65,000x what it does now in order to get to a 1% global impact. So even if our emissions rise at a diminishing rate with the population, they remain minuscule.

Bill Shorten often tells us the cost of doing nothing on climate change is immeasurable. He’s right, only in that “it is too insignificant” should be the words he’s searching for.

Perhaps the saddest part of the Guardian editorial was to say that the Green New Deal proposed by Alexandria Ocasio Cortez was gaining traction in the US. It has been such a catastrophic failure that she lost an unsolicited vote on the Senate floor 57-0 because Democrats were too embarrassed to show up and support it. Nancy Pelosi dismissed it as a “green dream.” At $97 trillion to implement, no wonder AOC says feelings are more important than facts.

With the 12-year time limit to act before we reach the moving feast known as the tipping point, it gets confusing for climate sceptics. Extinction Rebellion wants things done in only 6 years. The UK House of Commons still can’t get a Brexit deal done inside 3 years but can act instantaneously to call a “climate emergency” after meeting a brainwashed teenager from Sweden. It speaks volumes of the desperation and lack of execution to have to search for political distractions like this.

The ultimate irony in the recent celebration of no coal-fired power in the UK for one week was fossil fuel power substituted all of it – 93% to be exact. Despite the energy market operator telling Brits that zero carbon emissions were possible by 2025 (40% of the current generation capacity is fossil fuel), it forgot that 85% of British homes heat with gas. Presumably, they’d need to pop on down to Dixon’s or Curry’s to buy new electric heaters which would then rely on a grid which will junk 40% of its reliable power…good luck sorting that out without sending prices sky high. Why become beholden to other countries to provide the back-up? It is irrational.

Are people aware that the German electricity regulator noted that 330,000 households (not people) were living in energy poverty? At 2 people per household, that is 1% of the population having their electricity supply cut off because they can’t afford to pay it. That’s what expensive renewables do. If the 330,000 could elect cheap electricity to warm their homes or go without for the sake of the climate, which would they choose? 100% cheap, reliable power. Yet Shorten’s plan can only push more into climate poverty which currently stands at 42,000 homes. This is before the economy has started to tank!

If one looks across Europe, it is no surprise to see the countries with the highest level of fossil fuel power generation (Hungary, Lithuania & Bulgaria) have the lowest electricity prices. Those with more renewables (Denmark, Germany & Belgium), the highest. That is Australia’s experience too. South Australia and Victoria have already revealed their awful track record with going renewable. Why did Coca-Cola and other industries move out of SA after decades? They couldn’t make money with such an unreliable

Ahh, but we must protect our children and grandchildren’s futures. So low have the left’s tactics sunk that using kids as human shields in the fight for climate change wards off conservatives calling out the truth because it is not cool to bully brainwashed kids. We should close all our universities. As the father of two teenagers, CM knows they know everything already so there is little requirement for tertiary education!

The Guardian mentioned, “But in Australia, the Coalition appears deaf to the rising clamour from the electorate [on climate change].” Really?

CM has often held that human consumption patterns dictate true feelings about climate change. Climate alarmist Independent candidate Zali Steggall drives a large SUV and has no solar panels on her roof! Her battleground in the wealthy seat of Warringah is probably 70%+ SUV so slapping a Zali bumper sticker does nothing but add to the hypocrisy.

Why do we ignore IATA forecasts that project air travel will double by 2030? Qantas has the largest carbon offset program in the world yet only 2% elect to pay the self-imposed tax. Isn’t that telling? That is the problem. So many climate alarmists expect others to do the heavy lifting.

SUVs make up 43% of all new car sales in Australia. In 2007 it was 19%. Hardly the activity of a population fretting about rising sea levels. In Warringah, waterfront property sales remain buoyant and any bank that feared waves lapping the rooves of Burran Avenue would not take such portfolio risk, much less an insurance company.

Shorten’s EV plan is such a dud that there is a reason he can’t cost it. Following Norway is great in theory but the costs of installing EV infrastructure is prohibitively expensive. It will be NBN Mark II. Will we spend millions to trench 480V connectors along the Stuart Highway?

Norway state enterprise, Enova, said it would install fast chargers every 50km of 7,500km worth of main road/highway. Australia has 234,820km of highways/main roads. Fast chargers at every 50km like the Norwegians would require a minimum of 4,700 charging stations across Australia. Norway commits to a minimum of 2 fast chargers and 2 standard chargers per station.

The problem is our plan for 570,000 cars per annum is 10x the number of EVs sold in Norway, requiring 10x the infrastructure. That would cost closer to $14bn, or the equivalent of half the education budget.

The Guardian griped that “Scott Morrison’s dismissive response to a UN report finding that the world is sleepwalking towards an extinction crisis, and his parliamentary stunt of fondling a lump of coal”

Well, he might doubt the UN which has been embroiled in more scandals related to climate change than can be counted. Most won’t be aware that an internal UN survey revealed the dismay of unqualified people being asked for input for the sake of diversity and inclusion as opposed to choosing those with proper scientific qualifications. The UN has climbed down from most of its alarmist predictions, often citing no or little confidence of the original scare.

Yet this election is truly about the cost of living, not climate or immigration. The biggest emergency is to prepare for the numbers we can properly set policy against.

We have household debt at a record 180% of GDP. We have had 27 years of untrammelled economic growth. Unfortunately, we have traded ourselves into a position of too much complacency. Our major 4 banks are headed for a lot of trouble. Forget meaningless stress tests. APRA is too busy twiddling its thumbs over climate change compliance. While the Royal Commission may reign in loose lending, a slowing global economy with multiple asset bubbles including houses will come crumbling down. These banks rely 40% on wholesale markets to fund growth. A sharp slowdown will mean a weaker dollar which will only exacerbate the problem.

We have yet to see bond markets price risk correctly. Our banks are horribly exposed. They have too little equity and a mortgage debt problem that dwarfs Japan in the late 1980s. Part/whole nationalization is a reality. The leverage is worse than US banks at the time of the Lehman collapse.

We have yet to see 10% unemployment rates. We managed to escape GFC with a peak of 6% but this time we don’t have a buoyant China to rescue us. Consumers are tapped out and any upward pressure on rates (to account for risk) will pop the housing bubble. Not to worry, Shadow Treasurer Chris Bowen assures people not to panic if their home falls into negative equity! This is the level of economic nous on the catastrophe that awaits. It is insanely out of touch.

Are our politicians aware that the US has to refinance US$8.4 trillion in US Treasuries in the next 3 years? That amount of money will crowd out a corporate bond market which has more than 50% of companies rated BBB or less. This will be compounded by the sharp rise in inventories we are witnessing on top of the sharp slowdown in trade (that isn’t just related to the trade war) which is at GFC lows. The 3.2% US economic growth last quarter was dominated by “intellectual property”, not consumption or durable goods.

China car sales have been on a steep double-digit decline trajectory for the last 9 months. China smartphone shipments dwindle at 6 year lows. In just the first four months of 2019, Chinese companies defaulted on $5.8 billion of domestic bonds, c.3.4x the total for the same period of 2018. The pace is over triple that of 2016.

Europe is in the dumps. Germany has had some of the worst industrial production numbers since 2008. German GDP is set to hit 0.5% for 2019. France 1.25% and Italy 0.25%. Note that in 2007, there were 78mn Europeans living in poverty. In the following decade, it hit 118mn or 23.5% of the population.

Global bellwether Parker Hannifin, which is one of the best lead indicators of global industrial growth, reported weaker orders and a soft outlook which suggests the outlook for global growth is not promising.

This election on Saturday is a choice between the lesser of two evils. The LNP has hardly made a strong case for reelection given the shambolic leadership changes. Take it to the bank that neither will be able to achieve surpluses with the backdrop we are headed into. Yet when it comes to economic stewardship, it is clear Labor are out of their depth in this election. Costings are wildly inaccurate but they are based on optimistic growth scenarios that simply don’t exist. We cannot tax our way to prosperity when global growth dives.

Hiking taxes, robbing self-managed super fund retirees and slamming the property market might play well with the classes of envy but they will be the biggest victims of any slowdown. Australia has run out of runway to keep economic growth on a positive footing.

We will do well to learn from our arrogance which has spurned foreign investment like Adani. We miscalculate the damage done to the national brand. Adani has been 8 years in the making. We have tied the deal up in so much onerous red tape, that we have done nothing more than treating our foreign investors with contempt. Those memories will not be forgotten.

There will come a point in years to come where we end up begging for foreigners to invest at home but we will only have ourselves to blame.

The editorial closes with,

However you choose to exercise your democratic decision-making on Saturday, please consider your candidate’s position on climate and the rapidly shrinking timeframe for action. We have endured mindless scare campaigns and half-baked policy for too many decades. We don’t have three more years to waste.

This is the only sensible quote in the entire article. The time for action is rapidly shrinking. However, that only applies to the political and economic climate. One can be absolutely sure that when the slowdown hits, saving the planet will be furthest removed from Aussie voters’ minds.

UK’s utterly mad electricity operator

The defunct Rugeley power station in Staffordshire

The National Grid Electricity System Operator (NGESO) has said the UK has not used coal-fired power for a week, the first time since 1882. Hooray! High fives all round! NGESO director, Fintan Slye, believes that UK electricity generation could be zero carbon by 2025. What you will read points to the utter madness and inadequate planning that will crush the grid in winter if zero carbon happens. He clearly doesn’t believe in energy poverty, something 331,000 Germans suffered from in 2017.

Let’s look at the latest UK energy mix published by OFGEM.

Coal: 4.8%

Gas: 32.8%

Nuclear: 13.2%

Hydro: 1.95%

Wind/Solar: 15.16%

Biomass: 7.68%

There is an irony to hear the UK government will phase out coal by 2025. It is hardly a goal to phase out 1% per year. How is it possible to zero carbon by 2025 with a junking of 37.6% of the grid? Crank up nuke? Biomass, which is more environmentally unfriendly than coal?

Maybe Mr Slye should read its own endorsed reports?

The Summer Outlook 2019 notes,

Gas Demand – during the summer gas-fired electricity generation becomes a more significant component of GB demand, unlike winter when domestic heating dominates. We are expecting increased volumes of LNG supply, which affects flows of gas across GB.

This OFGEM report calculated the % of the 26.3mn homes that use gas heating in the UK during winter as follows.

England: 85%

Scotland: 78%

Wales: 79%

So what happens when fossil fuels get phased out for a zero carbon world by 2025? Perhaps they need to rely on electricity generated heat onto a grid that plans to knock out c.40% of its fossil fuel baseload. OFGEM notes,

In Great Britain, 25% of flats use electric heating compared to only 4% of houses.

Homes with electric heating systems tend to have a lower energy efficiency rating, partly reflecting the higher running costs of using electric heating. In England, 2% of dwellings with mains gas heating are ‘F’ or ‘G’ rated, compared to 14% of dwellings with storage heating systems, and 57% of dwellings with direct-acting heating.

Storage heating systems can be found disproportionately in private-rented and social housing while direct-acting heating systems can be found disproportionately in the private-rented sector. Households living in these properties are more likely to be:

of lower income. In England, around a third fall in the lowest income quintile, with incomes of less than about £14,500.

fuel poor. In Scotland for example, 48% of households with storage heating systems and 68% of households with direct-acting electric heating are in fuel poverty, compared to 31% of households that use mains gas.

-single adult households and households with no children. There is generally no significantly increased likelihood of householders having a long-term illness or disability (with the exception of storage heating households in Scotland).

So essentially in the quest to virtue signal, policymakers risk pushing more into energy poverty. The only outcome here is far higher prices. Given the UK wants to go full EV by 2040, throw more on the bonfire of stupidity.

Has the NGESO calculated the extra impact to the grid that transferring heating gas to the grid to get zero emissions by 2025 will cause?

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Now that former Australian PM Malcolm Turnbull has chimed in applauding the UK’s week of non coal power generation alongside the embattled UK PM Theresa May, it confirms this energy policy is a dead cert dud.

The dirt on solar panel recycling

According to Forbes, solar panel recycling is a dirty business. Given wide spread solar installations around the world, experts predict in two to three decades there will be large scale waste and ecological damage when they’ve hit the used by date. To quote the article,

Were these statements made by the right-wing Heritage Foundation? Koch-funded global warming deniers? The editorial board of the Wall Street Journal?…None of the above. Rather, the quotes come from a senior Chinese solar official, a 40-year veteran of the U.S. solar industry, and research scientists with the German Stuttgart Institute for Photovoltaics.

“…The International Renewable Energy Agency (IRENA) in 2016 estimated there was about 250,000 metric tonnes of solar panel waste in the world at the end of that year. IRENA projected that this amount could reach 78 million metric tonnes by 2050…

…“We estimate there are 100,000 pounds of cadmium contained in the 1.8 million panels,” Sean Fogarty of the group told me. “Leaching from broken panels damaged during natural events — hail storms, tornadoes, hurricanes, earthquakes, etc. — and at decommissioning is a big concern.”  

…Chinese and Japanese experts agree. “If a recycling plant carries out every step by the book,” a Chinese expert told The South China Morning Post, “their products can end up being more expensive than new raw materials.

There is an irony when fighting to save the planet. All we’re told is the positive side of renewables being good for the futures of our children and grandchildren. Just goes to show that these panels of virtue have side effects too. There is a sort of belief that solar panels and wind turbines have an infinite life when installed.

Governments are now thinking of pushing recycling costs back on the manufacturers. That would be a great idea. Drive up costs and send more businesses saddled with overproduction closer to bankruptcy.

Australia should go nuclear. If we want cheap, reliable, CO2-free electricity generation it is the only way to go. Yet our politicians fear treading on such ground.

If we go through history Chernobyl and Fukushima were ALL caused by human error. The systems functioned according to spec.

Solar and wind have proved epic failures, not in installation terms, but as reliable energy sources in operation. South Australia and Victoria are beta test cases of weakening the grid yet we wish to pursue a doubling down of this madness.

In Australia, the environment is ranked 4th in terms of election issues behind income growth/cost of living, affordable housing and power prices. At the 2016 election, the environment was ranked 9th. Do we read this as Aussies becoming decidedly more green in the last 3 years or is it they see all the environment policies being championed affecting issues 1-3? It would seem the latter is more plausible. Yet our politicians are reading it the wrong way. What a surprise!

If we’re so keen to stick to Paris should we feel guilty about nuclear power?

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Australia seems keen to stick to the Paris Accord. Despite knowing whatever we do on saving the planet through following the politics of Paris will result in no palpable change in world temperatures at considerable economic cost to overstretched taxpayers. If we seem so keen to do our bit for tokenism, why not copy so many signatories and build nuclear plants? After all if we don’t want to be censured for abandoning the accord should we feel any sense of guilt if we adopt the very same CO2 limiting measures of others? Safety in numbers – literally.

CM was privy to a meeting with a former US Navy officer who was speaking about how negative PR can create false narratives. Nuclear power was one of them. He argued that the US & Japan were losing the PR war hence technological leadership on civilian nuclear power. The likes of Toshiba-Westinghouse are now shrinking minnows whose dwindling order book looks like the victim of a sunset industry when in reality it has been terrible program management. However why should it?

Nuclear power is set to be 14% of global electricity generation by 2040 from 11% today. Emerging Asia get the practicalities of nuclear power. Affordable and sustainable baseload with virtually no emissions.

Of course the horrible outcomes of poorly managed nuclear plants has come at great financial cost as experienced most recently  with Fukushima but the safety record of nuclear power is astonishingly good. Quantum levels more people die in coal mine accidents every year than the combined deaths from radiation from Chernobyl or Fukushima meltdowns since either occurred.

The misplaced fear of Fukushima was so high at the time that Americans across the Pacific were stocking up on radiation masks and Geiger counters in preparation of impending irradiation. It seemed the further one got away from the reactor the more hysteric people became. Deaths in the US as a result of the Fukushima meltdown? Zero!

As it stands, the US has two nuclear plants under construction at present which are saddled with delays and costly overruns based on incompetent execution. The Chinese have twenty in the build phase. India 7. Korea and the UAE 4 each. Russia 3. Even Bangladesh & Pakistan have two in the pipeline using technologies outside of the US/Japan.

There are about 150 power reactors with a total gross capacity of about 160GWe on order with about 300 more proposed. Where are the former world leaders in power technology? Next to nowhere. Cowering in a corner and allowing themselves to be beaten up senseless over false statistics. Where is the PR reporting reality? It’s as if they’ve given up. Where is the media lambasting China, India and other nations for putting our lives at risk? That’s right – nowhere.

What probably escapes many people is that for all the negative news cycle around nuclear power and the thirst for renewable alternatives, many Americans are already surrounded by active nuclear plants. While they visit a zoo or the beach they are blissfully unaware that at all the naval ports dotted around the mainland (e.g. California, Connecticut, NY, Florida, DC, Texas, South Carolina etc) and islands (e.g. Hawaii, Japan) there are 100s of nuclear reactors sitting safely in close proximity to millions of civilians. Yet where is the outrage? Not a peep.

Shout from the hilltops at the efficiency of renewables all you want. Then explain why those with higher levels of renewables as baseload power end up with the highest incidents of blackouts and steepest prices.

South Australia is the case in point. Australia is home to the cheapest materials (gas, coal and uranium) to make affordable electricity but we have caved to the green madness and saddled ourselves with punitive power prices to meet goals based on unproven and often whistle blown manipulated science. If climate scientists were subject to the same punitive damages that players in the financial industry are then it is likely the “targets” leading to our ecological disaster would be pared back to such a degree we’d just keep calm and carry on. Yet because there is no risk of jail sentences the tax dollars get misappropriated, funding an industry whose survival and growth depends on fear. Talk about a lack of ethics.

Even worse we want to double down on this inefficient renewable technology (where claims are often made on 100% capacity rather than the 20% they truly operate on) despite having empirical evidence of its all too obvious shortcomings. Virtue signaling actions such as blowing up old coal fired power stations has ironically proven the stupidest of moves in that all the while demand hasn’t changed reductions in reliable baseload supply makes us vulnerable.

Throw on the desire to electrify the automobile  and we already know that existing base load won’t cope with the increased demands. Take a look at Britain as an example. Apart from the risks of losing massive fuel tax levies (around 5% of total government revenue) the power industry’s current projections of new electricity generation additions can’t meet the expected demand if we all plug our EV in overnight.

So Australia should quit worrying about what others think and act in its own best interests. Maybe Canberra needs a PR agency more than the nuclear industry does. High time to look at real data and sustainability.