Unintended consequences + Diesel $4.849

Sometimes collateral damage is self inflicted.  Here are examples:
 
  • The push to Electric Vehicles (EV’) and “clean” power, has the unintended consequence of:
 
  • A need for large mines to be developed for things like nickel and rare earths.  Current mine capacity is already insufficient.  The Russia/Ukraine boycott means that many mines won’t even meet today’s requirements.  "If EVs are to account for two-thirds of all new car purchases by 2030, dozens of new mines must be opened.” Source: Mark P Mills (Issues.org)
 
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  •  “Building solar and wind systems [to power the EV’s]  requires roughly a tenfold increase in —concrete, steel, glass, etc.—to deliver the same quantity of energy compared to building a natural gas or other hydrocarbon-fueled power plant.” Source: Mark P Mills (Issues.org)
 
  • Because of the Jones act preventing shipments of oil from one US port to another US port on non-US ships, Hawaii currently buys its oil from Russia.
 
  • Global oil supplies are dwindling as buyers avoid Russia (and the price for Russian Crude is down ~30%) — but on 2-28 (After invasion started), Saudi Arabia confirmed its commitment to the OPEC+ agreement with Russia.  Source: Jakarta Post.  Now the Saudi’s can’t take advantage of higher prices for oil.
 
  • Biden is now cozying up with Venezuela which has the world largest oil reserves, but a government, the US has sanctioned, to get oil.
Email 3-8-22