Thursday, November 15, 2018

As energy demand skyrockets for cryptocurrency mining, a new study shows that it takes three times the energy to mine Bitcoin as it does gold

by Kenneth Schortgen, Shotgun Economics:

There have been some analysts on Wall Street, as well as a large portion of the cryptocurrency community, who believe that Bitcoin can and is the new replacement for gold as a store of wealth. However in a new study out on Nov. 5, data is showing that the energy cost right now to mine a single Bitcoin is three times greater than the amount of energy required to mine physical gold, and that this will only increase as the Bitcoin algorithm demands more and more energy for each new token.

Take Cover! News Media Ignores Crisis Inside Nuclear Weapons Production Site

from TruNews:

https://www.youtube.com/watch?v=EhcW7hG2_sI

The EU Russia China Plan to Avert Iran Oil Sanctions

by F. William Engdahl, New Eastern Outlook:

It may well be that the unilateral wrecking ball politics of the Trump Administration are bringing about a result just opposite from that intended. Washington’s decision to abandon the Iran nuclear agreement and impose severe sanctions on companies trading Iran oil as of 4 November, is creating new channels of cooperation between the EU, Russia, China and Iran and potentially others. The recent declaration by Brussels officials of creation of an unspecified Special Purpose Vehicle (SPV) to legally avoid US dollar oil trade and thereby US sanctions, might potentially spell the beginning of the end of the Dollar System domination of the world economy. 

U.S. SHALE OIL INDUSTRY: Catastrophic Failure Ahead

by Steve St. Angelo, SRSRocco Report:

While the U.S. Shale Industry produces a record amount of oil, it continues to be plagued by massive oil decline rates and debt.  Moreover, even as the companies brag about lowering the break-even cost to produce shale oil, the industry still spends more than it makes.  When we add up all the negative factors weighing down the shale oil industry, it should be no surprise that a catastrophic failure lies dead ahead.

Of course, most Americans have no idea that the U.S. Shale Oil Industry is nothing more than a Ponzi Scheme because of the mainstream media’s inability to report FACT from FICTION.  However, they don’t deserve all of the blame as the shale energy industry has done an excellent job hiding the financial distress from the public and investors by the use of highly technical jargon and BS.

Backup Power on a Budget: Notes from South Africa

by Daisy Luther, The Organic Prepper:

Editor’s note: By now, just about everyone has heard about the difficulties occurring in South Africa. The violence is palpable, the corruption is an everyday fact, and utilities such as water and electricity are no longer a given. Not only that, but the cost of these utilities has become prohibitive, so conservation is a necessity. Backup power, such as solar or generators, have become a necessity for many families.

In this article, a regular reader from South Africa shares some of the tips for starting out with generators and backup power that have made it easier to deal with the continuous rolling blackouts and outrageous prices for electricity.  ~ Daisy

Saudi Arabia Considers Itself Untouchable Due to Oil and Money

by Michael Krieger, Liberty Blitzkrieg:

The roots of that lobby’s rise to prominence in Washington lie in the aftermath of the terrorist attacks of September 11, 2001. As you may remember, with 15 of those 19 suicidal hijackers being citizens of Saudi Arabia, it was hardly surprising that American public opinion had soured on the Kingdom. In response, the worried Saudi royals spent around $100 million over the next decade to improve such public perceptions and retain their influence in the U.S. capital. That lobbying facelift proved a success until, in 2015, relations soured with the Obama administration over the Iran nuclear deal. Once Donald Trump won the presidency, however, the Saudis saw an unparalleled opportunity and launched the equivalent of a full-court press, an aggressive campaign to woo the newly elected president and the Republican-led Congress, which, of course, cost real money.

President Ronald Reagan’s White House Science Adviser Warns: Ignoring The Vulnerability Of The Electrical Grid Is A Death Sentence For Americans

by Dr. William R. Graham and Dr. Peter Vincent Pry, All News Pipeline:

In 2008, the statutory Commission to Assess the Threat to the United States from Electromagnetic Pulse (EMP) Attack delivered over 100 recommendations to Congress to protect the national electric grid and other life-sustaining critical infrastructures — including communications, transportation, energy, business and finance, food and water. We were hopeful the job would get done.

Following an EMP attack, another Carrington event or a massive cyber attack that takes down the grid, 326 million Americans could not long survive bereft of the electronic civilization that sustains their lives. It would be a civilization killer.

The EMP commission reports are “good news,” because they prove there is no excuse for the nation to be vulnerable. Electric grids and other life-sustaining critical infrastructures can be protected — affordably. For example, the 2008 report estimates that the electric grid’s bulk-power system can be hardened to survive for a few billion dollars.

United Nations: A $240 Per Gallon Gas Tax Is Needed To Fight Climate Change

by Mac Slavo, SHTF Plan:

The United Nations has declared that a $240 per gallon gasoline tax is “needed” to fight climate change. To limit global warming, the UN’s report says that $27,000 per tonne of gasoline will need to be stolen from the public by the year 2100.

For Americans, that’s the same as a $240 per gallon tax on gasoline in the year 2100, should such a recommendation be adopted. In 2030, which is only 12 years away, the report says that the carbon tax would need to be as high as $5,500, and the equivalent to a $49 per gallon gas tax, reported The Daily Caller. 

Saudi looting of Yemeni oil resources blatant violation of international law: Oil ministry

from Press TV:

Yemen’s Oil and Mineral Ministry has denounced the looting of the country’s oil resources by Saudi Arabia, saying the move is a blatant violation of international law.

The ministry said in a statement on Saturday that Saudi Arabia transports Yemeni oil to the Arabian Sea through a pipeline which extends from the Rub’ al Khali desert to Hadhramaut and al-Mahrah provinces south of the country.

It said that Riyadh’s move to plunder Yemen’s wealth is done with the complicity of the country’s former Saudi-allied government.

Breaking! Explosions rock Canada’s largest oil refinery as energy company

from Mary Greeley:

https://www.youtube.com/watch?v=b6jVWfSXtAM