Excess costs of UK Weather Dependent Renewable Energy: 2018

Reposted from edmhdotme – Re-Blogged From WUWT

Summary:  2018 using Renewable Energy Foundation data

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In 2018 UK Weather dependent renewables generated some 7.7 Gigawatts of power from an installed fleet of ~34 Gigawatts achieving a satisfactory overall capacity factor for Renewables of ~23%.  The installed fleet cost ~84£billion in capital costs with average costs of ~11£billion/Gigawatt produced in capital costs and ~42£billion/Gigawatt produced long-term.  Because of the comparative capacity factors Offshore wind and Solar PV were roughly equivalent in capital costs at ~15£billion / Gigawatt produced and ~60£billion / Gigawatt produced over the long-term.  The direct comparison in the UK situation with similar measures for traditional generation technologies, Gas-firing and Nuclear, can be seen to be substantially lower above.

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Eastern European Nations Buy And Repatriate Gold Due To Growing Risks To Euro And Dollar

By Mark O’Byrne – Re-Blogged From Gold-Eagle
Prudent leaders in Eastern European countries are repatriating their national gold reserves and diversifying into gold due to geopolitical risks and monetary risks posed to the dollar, euro and pound

Slovakia has joined China, Russia and a host of countries buying gold or seeking to repatriate their gold from the Bank of England and the New York Federal Reserve

Queen Elizabeth tours a gold vault during a visit to the Bank of England

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150 Years Of Bank Credit Expansion Is Near Its End

By Alasdair Macleod – Re-Blogged From GoldMoney

The legal formalisation of the creation of bank credit commenced with England’s 1844 Bank Charter Act. It has led to a regular cycle of expansion and collapse of outstanding bank credit.

Erroneously attributed to business, the origin of the boom and bust cycle is found in bank credit. Monetary policy evolved with attempts to control the cycle with added intervention, leading to the abandonment of sound money. Today, we face infinite monetary inflation as a final solution to 150 years of monetary failures. The coming systemic and monetary collapse will probably mark the end of cycles of bank credit expansion as we know it, and the final collapse of fiat currencies.

This article is based on a speech I gave on Monday to the Ludwig von Mises Institute Europe in Brussels.

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UK Plans to Give All Children Full Genome Sequence at Birth

By Dan Robitzski – Re-Blogged From Futurism

The U.K. may start offering full genome sequencing to every child born in the country, an official says.

Health Secretary Matt Hancock sees the future ubiquity of genetic sequencing as a way to offer “predictive, personalized” care for children who have rare diseases and other genetic conditions, according to The Telegraph. While the tests could theoretically improve medical treatment, it also raises a slew of questions about medical privacy, consent, and the future of the human race.

Right now, the U.K. intends to offer full-genome sequencing to every child with cancer by the end of 2019, The Telegraph reports, along with adults who have uncommon types of cancer or other diseases. Hancock hopes, however, to take the initiative even further.

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Global Industrial Slump And Brexit Dance Go On

By Arkadiusz Sieroń – Re-Blogged From Gold Eagle

The Brexit saga continues. Both the U.S. and China’s industrial sectors suffer from the trade war. How will the Fed react to these downside risks tomorrow? The expectation is that it’ll cut rates, but will that really happen? And how will gold take to that?

Brexit Dance Goes On

Last week, we wrote about the Brexit saga, diving into the latest battles between Johnson and Parliament. But the drama has not ended yet. As we concluded one week ago, “Brexit is far from over, and British politics may surprise us again.” Indeed, Johnson wanted to call a snap general election in December to gain more leverage in the House of Commons, but the UK parliament has rejected Johnson’s proposal. For the third time. But Boris does not like losing, so he proposed today a new bill that lowers the number of MPs requires to pass the decision to hold an early election from two thirds to simple majority.

In the meantime, the EU agreed to the Brexit extension until the end of January 2020. Importantly, the EU offered a “flextension,” which means that the UK could leave before the deadline if a deal is approved by the British Parliament. Brexit is still far from concluded and snap elections could significantly change the political landscape. But one thing is sure for now, the possibility of a non-deal Brexit has been postponed until January 31, 2020 at least. This should reduce the safe-haven demand for gold, but also support the pound and euro against the U.S. dollar, gold’s nemesis.

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Climate Protestors are Forcing the Diversion of Crime Investigation Resources

By Eric Worrall – Re-Blogged From WUWT

According to London’s police chief, resources are being diverted from criminal investigations to perform frontline duties, because of the acute manpower shortage caused by having to deal with Extinction Rebellion’s climate protest stunts.

Extinction Rebellion protests cost police £37 million and led to other investigations being shut

Policing the Extinction Rebellion protests has cost Scotland Yard £37million so far this year and has caused other investigations to be closed down.

Metropolitan Police Commissioner Cressida Dick said on Tuesday that the cost of the two-week protest action this month had cost £21million, a bill set to rise by several million pounds.

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