Category Archives: World Economy

Can Nuclear Fusion Put the Brakes on Climate Change?

As per Dennis Whyte, a native of Saskatchewan, Canada and the director of the Plasma Science and Fusion Center, at M.I.T., the field of nuclear fusion, as a whole, was still moving forward, but agonizingly slowly..

The accelerating climate crisis makes fusion’s elusiveness more than cutely maddening. Solar energy gets more efficient and affordable each year, but it’s not continuously available, and it still relies on gas power plants for distribution. The same is true for wind power. Conventional nuclear power has extremely well-known disadvantages. Carbon capture, which is like a toothbrush for the sky, is compelling, but after you capture a teraton or two of carbon there’s nowhere to put it. All these tools figure extensively in decarbonization plans laid out by groups like the Intergovernmental Panel on Climate Change, but, according to those plans, even when combined with one another the tools are insufficient. Fusion remains the great clean-energy dream—or, depending on whom you ask, pipe dream.

Fusion, theoretically, has no scarcity issues; our planet has enough of fusion’s primary fuels, heavy hydrogen and lithium, which are found in seawater, to last thirty million years. Fusion requires no major advances in batteries, it would be available on demand, it wouldn’t cause the next Fukushima, and it wouldn’t be too pricey—if only we could figure out all the “details.”

The details are tremendously complex, and the people who work to figure them out have for years been dealing with their own scarcities—scarcities of funding and scarcities of faith. Fusion, as of now, has no place in the Green New Deal.

Read more at: Can Nuclear Fusion Put the Brakes on Climate Change? | The New Yorker

#WSJ: U.S. Plans to Spend Big on Critical Minerals; Choosing Where Isn’t Easy

The U.S. has pumped millions of dollars into researching how to extract rare-earth minerals from abandoned coal fields, an approach some say won’t work. The Pentagon has invested in a U.S.-based rare-earth magnets manufacturer that sources many of its products from China. Canada has put money into a 21-year-old mining company that has never mined and handed an option to control its main asset to a business run by the chief executive’s son.

The U.S. and other Western governments are rushing to secure domestic supplies of materials including rare earths, lithium and boron, which are essential for growing technologies such as electric vehicles, satellites and wind turbines. They also want to develop the capability to process them.

The Senate this month approved a bipartisan, $250 billion bill to boost government spending on technology research and development to catch up with China, including funds for digging up and processing critical minerals at home and with allied nations.

Source: https://www.wsj.com/articles/u-s-plans-to-spend-big-on-critical-minerals-choosing-where-isnt-easy-11624186800

#NASDAQ: Johnson Matthey, Nano One In Development Agreement For #Lithium-ion Battery Materials

Johnson Matthey Plc. (JMAT.L), a provider of sustainable technologies, and Nano One Materials Corp., a clean technology innovator in battery materials, announced Thursday a joint development agreement on process innovation for a new generation of lithium-ion battery materials.

Nano One’s One-Pot process is designed to form a type of cathode material known as a “coated single crystal” that can improve durability. This process can also produce materials directly from metal powder and lithium carbonate to address cost, energy and sustainability goals throughout the lithium-ion battery supply chain.

Read more at: https://www.nasdaq.com/articles/johnson-matthey-nano-one-in-development-agreement-for-lithium-ion-battery-materials-2021

#Forbes: #Indonesia On Track To Dominate The Supply Of #Nickel To Make Batteries

Karyawan mengendarai bus listrik saat uji coba di Kantor Pusat PT Transjakarta, Cawang, Jakarta, Senin (6/7/2020). PT Transportasi Jakarta (Transjakarta) melakukan uji coba dua bus listrik EV1 dan EV2 rute Balai Kota – Blok M dengan mengangkut penumpang. ANTARA FOTO/Galih Pradipta/wsj.

Indonesia is on track to become the world’s nickel capital with new projects potentially lifting the country’s share of the important stainless steel and battery metal ingredient to a whopping 60% of global output later this decade.

Much of the planned investment is linked to Chinese companies keen to cement their grip on stainless steel production and to meet fast growing demand for batteries which require a range of new-energy metals such as nickel, lithium, cobalt and copper.

Read more at: https://www.forbes.com/sites/timtreadgold/2021/06/02/indonesia-on-track-to-dominate-the-supply-of-nickel-to-make-batteries/?sh=14ff88807488

#bloomberg: World’s Top #Nickel Producer, #indonesia, Sets Out End-to-End Battery Ambition

Indonesia laid down its plans to have a complete battery production line onshore, with a state-owned holding firm to be set up by June.

The country has drafted an “end-to-end development” plan that would see four state firms supplying nickel ore, processing nickel sulfate and cobalt sulfate, and then producing cathodes and batteries, Agus Tjahajana, who heads the task force on electric-vehicle development, said in a Thursday seminar.

Resource-rich Indonesia, home to a quarter of the world’s nickel reserves, has set its sights on moving up the supply chain to become a global hub for battery-making. The surge in demand for batteries, used to power everything from mobile phones to electric vehicles, has become a tailwind for Southeast Asia’s largest economy as it seeks a way out of a recession.

Top Battery Makers Discuss $20 Billion Indonesia EV Plans (1)

Read more at: https://www.bloomberg.com/news/articles/2020-10-14/top-battery-makers-in-talks-over-20-billion-indonesia-ev-plans

#Bloomberg: The Metal That Worries #Tesla Most Is Getting Much Cheaper

Nickel tumbled after a major Chinese producer’s unexpected plan to add supply eased concerns about a structural deficit for the material that Elon Musk has said is the biggest concern for Tesla Inc. batteries.

Nickel is critical to the world’s clean-energy transition.

Tsingshan Holding Group Co., the world’s top stainless steel producer, will soon start supplying nickel matte to Chinese battery material producers and plans to expand its nickel investments in Indonesia. Matte is an intermediate product made from concentrate that can be further processed into battery-grade chemicals.

Read more at: https://www.bloomberg.com/news/articles/2021-03-04/nickel-slumps-as-key-producer-s-supply-plans-ease-deficit-fears

#Bloomberg: Climate Is Next Race for Global Supremacy, Bank of America Says

Put aside the trade and technology wars. The next race for global political and economic supremacy will focus on climate.

That’s according to Bank of America Corp.s’ research group, which said climate change will be this decade’s most important theme, just as technology underpinned economic growth during the past decade. China has spent twice as much as the U.S. on climate action, said Haim Israel, the bank’s head of global thematic investing research, in a report Monday.

“We believe climate strategies offer a route to global supremacy,” he said. “Whether through regulation, limits on exports, tariffs or significant investments, we believe the U.S. and China will do whatever it takes to take the lead on climate action.”

The economic impact of climate change could reach $69 trillion this century, and investments in the energy transition need to increase to $4 trillion a year, Israel said. That will lead to more than $100 billion a year in research and development.

Bank of America estimates that the potential market capitalization for companies tackling climate to be about $6 trillion across things like renewables, electric vehicles, and environmental, social and governance. China dominates EVs and batteries, while Europe excels in renewables, the report says.

Read more at: https://www.bloomberg.com/news/articles/2021-02-08/climate-seen-as-next-race-for-global-supremacy-bofa-says

Central bank reserves policy pushes rouble into line with exporters’ forecasts

Cars are parked outside the headquarters of the Bank of Russia in Moscow April 30, 2015. REUTERS/Sergei Karpukhin

Bank of Russia in Moscow April 30, 2015

The Russian central bank’s plan to buy foreign currency to build up its reserves has moved the rouble back towards levels assumed by the country’s largest exporters after a spike in its value earlier this year.

Read more at: http://www.reuters.com/article/2015/06/12/us-russia-cenbank-exporters-idUSKBN0OS0XJ20150612

Indonesia’s $326b Retail Market Still Has Strong Appeal, Index Shows

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Jakarta. Indonesia achieved its highest-ever ranking in an index released by global management consultancy A.T. Kearney that measures retail investment worldwide, as retailers seek to expand in the country to tap the burgeoning middle-income population.

Read more at: http://thejakartaglobe.beritasatu.com/business/indonesias-326b-retail-market-still-strong-appeal-index-shows/

GE wins deal worth up to $2 billion for engines for Taiwan, others

The logo of U.S. conglomerate General Electric is pictured at the company's site in Belfort, April 27, 2014. REUTERS/Vincent Kessler

WASHINGTON General Electric Co has won a five-year contract valued at up to $2 billion to supply helicopter engines to the government of Taiwan and support a number of U.S. military services, the Defense Department said on Friday.

Read more at: http://www.reuters.com/article/2015/05/08/us-generalelectric-taiwan-idUSKBN0NT2DY20150508

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