Motley Fool Money Who Controls the Magnets?
Jun 4, 2023
Robert Bryce, author and energy expert, joins to discuss the evolving landscape of global energy. He highlights the surprising resurgence of coal in nations like Germany and Japan, driven by geopolitical challenges. Bryce emphasizes the urgent need for a reliable green energy grid and the growing interest in nuclear power as a sustainable alternative. He also dives into the challenges facing the electric vehicle battery supply chain and the stark disparities in electricity access across the globe, particularly in developing countries.
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Global Electricity Disparity
- Global electricity access is divided into three categories: high-watt, low-watt, and unplugged.
- 40% of people live in the unplugged world, mostly in Africa, using less electricity than a US refrigerator.
Iron Law of Electricity
- The "iron law of electricity" states that people will prioritize electricity access over other concerns.
- Bryce observed this in various places where people resorted to extreme measures to secure power.
Coal's Resurgence
- Despite efforts to reduce reliance on it, coal demand hit a new high in 2022.
- Germany, for example, expanded a coal mine at the expense of a wind project after Russian gas became scarce.