Climate Change Friendly Green Steel: “Society Would Have to Accept Higher Costs”

By Eric Worrall – Re-Blogged From WUWT 

Steel makers are eager to keep us informed of their efforts to find less carbon intensive ways to produce steel, though they worry production costs will have to rise.

Cleaning up steel is key to tackling climate change

Technology to make grey metal green will not be rolled out commercially until 2030s

Globally, steel is responsible for 7 per cent to 9 per cent of all direct emissions from fossil fuels, with each tonne produced resulting in an average 1.83 tonnes of CO2, according to the World Steel Association.

And as the world’s population grows, demand is only predicted to increase.

Blast furnaces of Třinec Iron and Steel Works, Czech Republic

Blast furnaces of Třinec Iron and Steel Works, Czech Republic. By Třinecké železárny, Attribution, Link

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Some Predictions For 2019

By Michael Pento – Re-Blogged From Pento Portfolio Strategies

Bond Yields Continue to Fall in First Half of Year

The epoch bond bubble continues to build and become a dagger over the worldwide economy and markets. Wall Street Shills are fond of claiming that global bond yields remain at historically low levels due to central bank manipulations, but this argument is no longer tenable. It was once true, but QE on a net global basis has now gone negative. And the data shows the amount of U.S. publicly traded debt relative to GDP is much greater today than it was prior to the start of the Great Recession—even after adjusted for the size of the Fed’s balance sheet–in other words, taking into account all the debt the Fed has purchased and is still rolling over.

The amount of publicly traded debt in the U.S. has soared to 58% of GDP. This is up from 29% in 2007 when the U.S. 10-year Note was yielding 5%. The Fed is now selling $50b of bonds each month, with an extra $7.8T in publicly traded debt that it doesn’t own; and that equates to nearly 2x the amount of debt compared to GDP than what existed just prior to the Great Recession. This debt must now be absorbed by the private market and at a fair market price, instead of just purchased mindlessly by the Fed…and yet yields are still falling. This means investors are piling into sovereign debt for safety ahead of the global economic crisis even though they understand that debt is, for the most part, insolvent.

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Wind Farm Turbines Wear Sooner Than Expected, Says Study

By ,- Re-Blogged From The Telegraph

Britain’s wind farms are wearing out far more rapidly than previously thought, making them more expensive as a result, according to an authoritative new study.

The analysis of almost 3,000 onshore wind turbines — the biggest study of its kind —warns that they will continue to generate electricity effectively for just 12 to 15 years.

The wind energy industry and the Government base all their calculations on turbines enjoying a lifespan of 20 to 25 years.

The study estimates that routine wear and tear will more than double the cost of electricity being produced by wind farms in the next decade.

Wind turbines. Who exactly does Mr Barker think he is calling swivel-eyed?

Will the world end if Britain’s landscape isn’t covered in wind farms? Photo: David Noton Photography / Alamy

EU Faces Time Crunch

From Forbes – Re-Blogged From WUWT

Emissions-producing diesel trucks and cars pass windmills (David McNew/Getty Images)Getty

2018 was an important year for EU energy legislation, as lawmakers rushed to complete the promises of President Jean-Claude Juncker before the end of the term in just four months time. But it is still uncertain whether these new energy laws, including the bloc’s first limits on CO2 emissions from trucks, will be passed before the March deadline.

If lawmakers run out of time, it could mean that new lawmakers have to start over from the beginning when they take office this summer, following the pan-European election in May.

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Climate Alarmism Defined: NYT’s Editorial Board Claims That ‘Trump Imperils The Planet’

By Michael Bastasch – Re-Blogged From WUWT

The New York Times editorial board says that President Donald Trump is literally endangering the entire planet with his rolling back of the Obama administration’s climate agenda.

The NYTimes’ editorial, titled “Trump Imperils the Planet,” comes as the print edition published a 12-page special section on the “far-reaching and potentially devastating” consequences of Trump’s environmental policies.

The NYTimes’ editorial board members wrote the United Nations agreeing to rules to implement the Paris Agreement “was a hugely dispiriting event and a fitting coda to one of the most discouraging years in recent memory for anyone who cares about the health of the planet.”

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Venezuelan Socialists On Track to Eliminate Their Nation’s Oil Industry

By Eric Worrall – Re-Blogged From WUWT

Despite oil accounting for a whopping 90% of Venezuela’s export earnings, President Maduro, a fervent supporter of the Paris Agreement, has courageously put principle before profits by implementing his version of a new green deal. Maduro has eliminated the capitalist exploiters from his nation’s oil industry, and replaced them with loyal army officers who are rapidly dismantling the infrastructure left behind by the capitalists.

Soldiers are taking over Venezuela’s oil industry, and the country with the world’s biggest oil reserves is falling further behind

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