Issues of concern to people who live in the west: property rights, water rights, endangered species, livestock grazing, energy production, wilderness and western agriculture. Plus a few items on western history, western literature and the sport of rodeo... Frank DuBois served as the NM Secretary of Agriculture from 1988 to 2003. DuBois is a former legislative assistant to a U.S. Senator, a Deputy Assistant Secretary of Interior, and is the founder of the DuBois Rodeo Scholarship.
Tuesday, May 11, 2021
How the Green Economy Will Be a Gold Mine for Copper
Copper, a linchpin of the old energy economy, will play a crucial role in the new green one, too. Cables made of the metal are still the most cost-effective means of transmitting electricity from solar and wind sources, and it is a key material in charging stations and the electric vehicles that use them. Indeed, Goldman Sachs analysts say, there is “no decarbonization without copper,” which they call “the new oil.”
Supplies, already tight as the global economy recovers, could be further strained by a predicted fivefold rise in green energy demand in the current decade, leading to significant shortages, starting in the mid-2020s, according to a report by Goldman commodity analyst Nicholas Snowdon. He sees copper, now around $4.50 a pound, hitting $6.80 by 2025. Bank of America commodity strategist Michael Widmer thinks the price could hit $6 this year...An electric vehicle contains as much as 180 pounds of the red metal, four times the amount in an internal- combustion-engine vehicle. Onshore wind turbines use about four times as much copper as power plants fired by fossil fuels per megawatt of electricity. Offshore wind farms are even more copper-intensive; they need thick copper cables to transmit power onshore...MORE
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1 comment:
Great post thanks for sharing it.
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