What Now Wednesday – Looking for Direction, Waiting for Disaster
We're on very shaky ground.
The World is reeling from crisis to crisis and shortages are piling up and that's causing companies to issue warnings about future profits on an almost daily basis. We just ran out of Baby Formula, for goodness sakes! This is not getting better, it's getting worse as countries are starting to curb exports of things like wheat, corn and oils – as they aren't sure they have enough for their own people.
Russia is blockading Ukraine's wheat and that's about 10% of the entire World's supply. Wheat is used in lots of things so that shortage cascades down to food manufacturers and then to restaurants and, of course, Cost of Living Indexes.
Meanwhile, in our typical American fashion, we hear about India having a month straight of over 100 degree days and ignore it – even though the World is round and tends to spin so weather gets to us all eventually. The US is flat out not able to provide enough electricity to keep people comfortable in that kind of weather and we're looking at a summer of rolling blackouts if we suffer the same temperatures.
Why? Because we never spent the $2Tn we needed to spend to upgrade the Power Grid. Our Power Grid loses 67.8% of the electicity we generate, so it costs us Trillions of Dollars NOT to fix it. We have known about this for 20 years and we have done nothing for 20 years so my Top Trade Alert for this morning is to get solar panels, a home storage battery and a generator – the Government isn't going to save us so we have to save ourselves (and, by doing so, we take a little pressure off the grid as well).
Yes, it is actually that insane that to deliver 12.5 QBTU of energy to end users we use 31 QBTU of Fossil Fuels AND 6.4 QBTU of renewable energy. CLEARY addressing this problem would make the World a better place and CLEARLY it would be well worth borrowing $2Tn to save an estimated $500Bn PER YEAR in losses AND drastically reduce emissions but the Coal, Natural Gas and Nuclear lobbyists have fought…