Wouldn’t it be ironic that the push towards Net Zero results in more, rather than less emissions and environmental destruction? We have discussed the delusional idea of burning wood to generate electricity or produce heat. Cutting ancient European forests for energy? Geniuses!
We remind ourselves that in Europe bioenergy (burning wood) generates about 50% more electricity than solar and about half as much as wind.
But there’s a teensy problem with “biodiesel” as it’s called by the tree huggers: trees. Cutting them down, dicing the wood up, compacting it, and then burning it. Oh wait, I missed a step. Labeling it “biomass” so as to ensure it keeps the eco-mentalists happy.
What has become obvious is that Europe can’t burn more trees to produce electricity. It is not “sustainable.” If anything, tree burning will likely collapse over the next few years as this stuff becomes exposed.
Well, Europe’s energy crisis is going to be bigger than the press of popular opinion would have us believe. What energy source is going to make up the shortfall? In the long term, the only realistic source is nuclear power, but that will require about two decades (it takes that long to build a nuclear power station) and in the short term it is coal.
What about natural gas? Well, Reuters recently pointed out how natural gas (via LNG) has peaked out. The infrastructure to accept LNG in Europe (port and regasification facilities) is maxed out:
Dozens of ships carrying liquefied natural gas (LNG) circling off the coasts of Spain unable to secure slots to unload have prompted grid operators for the country to warn they may have to suspend loading to deal with this “exceptional situation”.
The region has had to find alternative supplies, including LNG, but the arrival of multiple cargoes of the superchilled fuel has exposed Europe’s lack of “regasification” capacity, as plants that convert the seaborne fuel back to gas are operating at maximum limit.
If the backlog is not cleared soon those ships may start looking for alternative ports outside Europe to offload their cargo.
There are more than 35 LNG-laden vessels drifting off Spain and around the Mediterranean, with at least eight vessels anchored off the Bay of Cadiz alone, traders, analysts and sources at LNG terminals familiar with the situation said on Monday.
In a statement issued late on Monday and entitled “declaration of exceptional operational situation”, Spain’s national gas grid operator Enagas said it may have to reject unloads of LNG due to overcapacity at its terminals.
There are also LNG vessels at anchor near other European countries which could mean dozens more are waiting, one source with knowledge of the situation said.
Spain has the biggest regasification capacity in the European Union, accounting for 33% of all LNG and 44% of LNG storage capacity.
And if that wasn’t enough, getting the stuff in the first place is going to be a mission.
Now, spare a thought to other nations outside Europe.
The more gas that Europe sucks up the less to other nations. And if they can’t get gas, what do they fall back on? You guessed it. Coal.
Editor’s Note: Disturbing economic, political, and social trends are already in motion and now accelerating at breathtaking speed. Most troubling of all, they cannot be stopped.
The risks that lie ahead are too big and dangerous to ignore. That’s why contrarian money manager Chris Macintosh just released the most critical report on these trends, What Happens Next. This free special report explains precisely what’s coming down the pike and what it means for your wealth and well-being. Click here to access it now.
The post Here’s Why We’re Going Back to Coal… appeared first on Doug Casey's International Man.