Save your pennies!

Remember they estimated that it would cost the USA about $100 Trillion for the “New Green Swindle”? Obviously, that estimate will grow quickly because copper is not the only metal or Rare Earth that will soon be in short supply!
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Save your pennies!

Marcus M.

That’s right, save those pennies! Recently, Bloomburg News claimed that another 20 million tons of copper would be needed for electric vehicles, solar, wind and related infrastructure. However, the world now uses 20 million tons of copper already. So where are the other 20 million tons going to come from?

Unfortunately, “Copper production reached about 20.4 million tons in 2018, but has fallen over the past 2 plus years, and is expected to drop more due to water shortages let alone strikes, having to mine underground, and governmental restrictions.” (See: https://www.mining.com/web/copper-the-most-critical-metal/)

Meanwhile, copper prices hit a fresh 2020 pinnacle of $3.52 per pound on the Comex in New York on November 24, 2020.” However, March 26, 2021 copper reached $4.0795 per pound. That’s almost 16% higher in so many months, and it will go higher.

Remember they estimated that it would cost the USA about $100 Trillion for the “New Green Swindle”? Obviously, that estimate will grow quickly because copper is not the only metal or Rare Earth that will soon be in short supply!

According to BloombergNEF: “There are currently about 7 million electric vehicles in the world today. By 2040, they estimate around 30% of the world’s passenger cars will be electric. To me that’s a conservative and reasonable number. It means 500 million EVs will be on the road in 20 years, out of a total vehicle fleet of 1.6 billion. If each EV contains 85 kg of copper, that is 42,500,000,000 kg, or 42,500,000 tonnes of copper, roughly twice the current volume of copper produced by all of the world’s copper mines.”

The bad news is, per Mining.com, that “Over 200 copper mines are expected to run out of ore before 2035, with not enough new mines in the pipeline to take their place. It’s going to be hard enough to keep up the current 20mt per year let alone add so much more production.”

Of course, we all know too well that “Our Environmentalists” detest mining in the USA. Yet, it seems to be a growing problem in the rest of the world. In order to get their “New Green Swindle”, the “Leaders” will need to push the environmentalists to the sidelines! Unfortunately, I don’t see that happening, so the “Green Agenda” is doomed to fail miserably!

Obviously, with copper prices escalating, I am going out to buy the copper pipe and fittings I will need to build my future planned solar water heater system. My water comes from a well, and it is darn cold. I’m guessing it is in the low 40’s F degrees. Unfortunately, my Nevada property is all electric, and it takes a bunch of electricity to heat that cold water so I can take a shower. I calculate that the system will pay for itself in less than ten years. However, if I wait a year or two to buy the needed copper, then I will most likely pay 3 times today’s price.

BTW: Solar water heating is more efficient than solar electric!

The post Save your pennies! appeared first on Ice Age Now.

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April 5, 2021 at 09:48AM

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