Jevons Paradox

“Every molecule of fossil fuel produced worldwide will be burned by somebody somewhere, and local efforts to restrict consumption merely relocate the enjoyment of that privilege.”

Prior to the widespread proliferation of the steam engine, mining for coal was back-breaking work. The industry relied on human and animal strength, with laborers using primitive tools, to extract the stuff from hand-dug mineshafts. The work was as dangerous as it was dirty, and fatalities were commonplace. Then, a revolution unfolded. A step-change improvement to existing steam engine design, engineered by James Watt, allowed miners to leverage machinery such as pumps, hoists, and ventilation systems to alleviate significant portions of direct human effort. Pumps that used Watt’s engines were particularly effective at draining water from deep mineshafts, making vast and previously inaccessible coal reserves economically viable. The genius of his invention was in delivering far more work per quanta of fuel.

What did these advances in energy efficiency do to the demand for coal? Did society limit itself to doing the same amount of work as it had done before, just more economically so? Quite the contrary.

This is a good one, worth sharing around. More discussion here.

Scapegoating as a national sport

Sometimes one has to wonder why any investor would bother to park his money in Canada these days. In the case of a particular parliamentary committee looking at food prices, the solution being offered to rising prices is to hit competitors with higher taxes. I’m sure that will make food prices go down, right?

If Canada’s Competition Bureau finds that grocery store giants are profiting excessively from food inflation, the federal government should consider slapping a windfall tax on those excess profits.

Rather than condemn such a ludicrous idea, the  milquetoasts at the Retail Council of Canada had this to say:

“While we welcome the collaborative tone of the report, we would caution against increased government intervention in the operational aspects of the retail food business.”

Saturday On Turtle Island

Trudeau’s Canada:  The “denialism” of unmarked graves must be made illegal.  CBC reports that racism is running rampant in London Ont.  The rewriting of Canada’s history continues (CBC).  An Ottawa school board trustee wants a ban on protests.  Justin’s two carbon taxes.  Dear Leader burns jet fuel to Iceland on June 25th. There he will rant about global warming and other fantasies.

Biden’s America:  George Soros is an evil puppet master.  The trial of Donald Trump.  The women’s leftward march.  Facts of Biden bribery.  Obama slams minority GOP candidates.  Pervert Joe likes to fondle women.  Your morning meme.

Global Warming Scam News:  Eco-terrorists go to the opera.

Today In Islam:  Terrorists won America’s children.   A Calgary man (CBC).  And Muslim migrants in Oregon (JW).

Confusion Energy

World’s Largest Fusion Project Is in Big Trouble

It could be a new world record, although no one involved wants to talk about it. In the south of France, a collaboration among 35 countries has been birthing one of the largest and most ambitious scientific experiments ever conceived: the giant fusion power machine known as the International Thermonuclear Experimental Reactor (ITER). But the only record ITER seems certain to set doesn’t involve “burning” plasma at temperatures 10 times higher than that of the sun’s core, keeping this “artificial star” ablaze and generating net energy for seconds at a time or any of fusion energy’s other spectacular and myriad prerequisites. Instead ITER is on the verge of a record-setting disaster as accumulated schedule slips and budget overruns threaten to make it the most delayed—and most cost-inflated—science project in history.

Well, lots of people will have been paid lots of money to achieve mostly nothing, so there’s that.

Kicking the can

The steep rise in interest rates over the past year should be triggering a wave of foreclosures and price declines in the real estate industry by now, but if anything, the opposite is occurring. House prices are rising again in many cities. The reason is fairly straightforward: banks are simply extending mortgage terms to accommodate whatever monthly payment cash-strapped borrowers can afford. Belatedly, one of the other central planning authorities professes to be worried about this.

Canada’s financial regulator is urging lenders to tackle risks from mortgage extensions at the “earliest opportunity” as many borrowers try to navigate higher mortgage costs after the Bank of Canada’s surprise rate hike last week.

But judging by the content of the article, don’t expect any action anytime soon. The zero percent interest debacle is something that none of these folks want to actually tackle.

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