In 2014, representatives of the International Energy Agency Solar Heating and Cooling committee jetted to southern Alberta from 14 countries including South Africa, China and Denmark to tour the world’s first solar community. Of course they did. Fifty-two homes tapped 800 solar panels at a cost of $7 million to achieve “90 percent solar energy” and GHG emissions reductions of, brace yourself, 5 tonnes of CO2e per home per year, or 260 tonnes per year for the complex. At today’s carbon price of $65/tonne (going up by $15 on Apr 1 – hahahaha) that works out to a ‘carbon value’ of $17,000/year. In a move that surprises no one and draws not a single South African, Dane, or Chinese, the project is now being decommissioned. The reason? No one wants to pay to upgrade the 20 year old technology ($4 million hit to upgrade), and the math on those CO2 savings is a bit embarrassing. You know, it is cool that they tried, and maybe one day the lessons will pave the way for the next step, but the asymmetry of the initial joyous celebrations, replete with vast CO2 emissions required to arrive for the ironic celebration, contrasts sharply with the sheepish dismantling. It’s demise is indeed nothing to celebrate, but it is an important reminder that any ‘green’ breakthrough is celebrated like baby Jesus, but the failures die as quietly as a banana. Initial joyous celebrations here, obituary here.
Lyn Alden is a genius, worth reading even if it cost a lot (don’t tell her) but I have happy news to report – her newsletter is free. She offers the most clear-headed analysis of macro economics I’ve ever seen. She’s not native to the energy scene, but penned this remarkable paragraph in her most recent newsletter: “When countries adopt cultural views or government policies against energy density for the sake of optimizing some other variable, they’ll generally diminish their share of the world’s economic output, either knowingly or unknowingly. They can make that decision, and the rest of the world will move on without them, until they choose something different.” Latest newsletter here.
Raiding the same cookie jar, Alden is, curiously enough, a strong Bitcoin proponent. That’s not unusual I guess, these days, but her reasoning – or part of it – is valuable insight. Alden points out that banking is somewhat of a western luxury, if you can call dealing with those bloodsuckers a luxury, but anyway, we take for granted the services provided by banks, by their security, by their stability and support of a stable currency and banking system. Much of the world does not have that, though. Per her stats, only about 76% of people have a bank account at a bank or platform that connects to a bank. Seventy-five countries have restrictions on women’s rights to manage assets. Refugees, often without extensive documentation, can be shut out of the banking system no matter where they land. Transaction costs are ridiculous for poor people in developing countries, the fee to use a bank (if one is available) averages nearly 12 percent. People living in authoritarian countries such as Canada may have their access to bank accounts restricted (they were so loud and scary!). BUT. Eigthy-six percent of the world’s population has a smart phone, a number rising rapidly. With a phone, internet connection, and a crypto account, people around the globe can transact in Bitcoin effortlessly. We don’t see that, here in North America, because we’re lounging on a couch with chip crumbs on our bellies, a phone in one hand, a TV on the wall, and sports betting like our lives depend on it. We should remember that most the world does not enjoy such glorious achievements. Read Lyn’s fascinating case for crypto here.
The aim today was to find some great stories that make it worth your while to pour a cup of tequila and put your feet up and read something inspiring and great. Almost by definition that aim precludes the big T’s front and centre in Canada’s vision like a giant bug splat on the windshield of our lives. Almost made it. But take heart, this is a cool story, one of those pleasant side effects of our worst national confrontation since Denmark and Canada ended the battle royale for Hans Island, a 1.2 square km uninhabited block of rock halfway between Greenland and Canada (some say half of Canada’s homeless population is PTSD’d from this clash of titans (not many, but some (the guys that sit down with cups of tequila)). Anyway, earlier this week a wonderful story sprang forth from BC’s Delta Optimist, a most welcome name for a newspaper. The Optimist reported that Delta’s council issued a statement urging a fundamental change to the way Canada does things: “Now is the time to grow the Canadian economy both inter-provincially and internationally. This requires accelerating project approvals, getting critical infrastructure built, diversifying our markets, adopting new technologies, and breaking down inter-provincial trade barriers.” How awesome is that! Most welcome was Delta’s urging forward the development of LNG. Recall that Delta is a part of Greater Vancouver (EDITED HERE, initially said Greater Victoria, apologies to…whomever wants it most), home to an army of eco-activists that have built their very identity on a hatred of hydrocarbons. There really are great winds of change blowing, and it doesn’t matter if they are stirring because of Orange Man Bad, I’m just glad they are here. Delta Optimist story here.
It’s all happening as expected, more or less – an energy transition isn’t quite so simple. Find out what readers knew years ago in The End of Fossil Fuel Insanity – the energy story for those that don’t live it, and want to find out. And laugh. Available at Amazon.ca, Indigo.ca, or Amazon.com.
Read more insightful analysis from Terry Etam here, or email Terry here.