Market Talk – May 30, 2023
ASIA: Consumer prices in China increased at their slowest pace in two years, indicating deflationary pressure and weakness in domestic demand. The consumer price index rose by only 0.1% in [...]
Could We Ever Eliminate Fossil Fuels?
QUESTION: Hi, Martin!
Let’s get some numbers. Check the car numbers in Canada, assume a yearly mileage 15000km each and IF they all are electric ones assume consumption of 48kWh per km. Get the total and compare it with yearly production of electric energy in Canada. With data that I used, I got 17169TWh consumption and all Canadian production for a year is 652TWh. Huh????
For USA I got numbers: 189911TWh and 4034TWh respectively.
So, does someone plan to install missing power generation and what type it is gonna be? And don’t tell me it is possible to achieve with solar and wind because there are not enough fields for that amount. Where are you gonna get corn and potatoes after? Huh?
Don’t ask for cows and sheep ’cause they fart!
GI
ANSWER: There is absolutely no possible way to generate electricity to eliminate fossil fuels. You would need a lot more nuclear power plants. But countries like Germany are afraid of nuclear energy and they have to use coal. I think this is really one giant scam to justify imposing a whole new level of taxes and reducing the spending capacity of the people while telling them they are saving the planet.
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