https://www.theguardian.com/politics/2023/mar/12/rishi-sunak-has-electricity-grid-upgraded-to-heat-his-private-pool

Haha, "energy crisis",

"climate crisis",

"turn up the thermostat Jeeves" says Richie Rishi

Looks like they are rigging the prices again from April , with gas wholesale prices coming down the retail price is going up for both KWH & SC.

 

Also the electric is being rigged KWH unit price a bit lower but hiking the SC.

 

Welcome again to RIP OFF Britain.

Also the electric is being rigged KWH unit price a bit lower but hiking the SC.

 

Same for me, but with the switch from Bulb to Octopus it results in a slight reduction overall.

 

Looks like all prices will drop in July though. They'll need to if this country is going to avoid French style riots next winter.

.

Hydrogen does have its problems

Hydrogen does have its problems

It's been proven that it was a bomb that caused tragedy.

It's been proven that it was a bomb that caused tragedy.

The video posited the known leak of explosive hydrogen and electrical charge in storm. Approach an earthed steel mooring gantry, spark, bang!

Were the Brit, French & US hydrogen airships also sabotaged?

 

"Dozens of hydrogen airships exploded or burned in the years before before the Hindenburg disaster finally convinced the world that hydrogen is not an acceptable lifting-gas for airships carrying people."

https://www.airships.net/hydrogen-airship-accidents/

R101 was our big loss.

Robert Peston is getting wiser in his old age or perhaps the fact the jackboot of his former employer is off his neck.

 

Looks like they are rigging the prices again from April

Some short sellers overseas are holding a belief that some "whale" is rigging energy prices globally, it may translate to; get prices as low a possible, buy en masse and sell at an extreme profit when demand returns. The next few periods may provide some relief to UK consumers, but me, I feel, in the long run things are going to get much worse.

The next few periods may provide some relief to UK consumers, but me, I feel, in the long run things are going to get much worse.

I think the opposite is going to happen. Energy is fundamentally cheap in the long term. Already the cost of generating electricity by solar and wind is only a tenth of what EDF/British Gas/Scottish Power etc are charging. I pay currently 39p+VAT for 1kWH before government relief. Over the next couple of decades, solar is going to be even much cheaper than current price. You are looking at maybe 1p-2p a kWH. The rest is tax and profit.

In the following 100 years, small sized Generation 4, 5, 6 molten salt nuclear reactors (smaller than a 40ft container) will reduce the cost of generating electricity even further while burning the bulk of previous nuclear waste. Beyond, there will be fusion reactors.

https://spectrum.ieee.org/too-cheap-to-meter-nuclear-power-revisited

Never with the 'Kartel'.

Can I sell you a unicorn?

I feel, in the long run things are going to get much worse.

 

Deutsche Bank shares slide after sudden spike in the cost of insuring against its default

 

https://www.cnbc.com/2023/03/24/deutsche-bank-shares-slide-8percent-after-a-sudden-spike-in-default-insurance-costs.html

The run on Deutsche Bank does not surprise me. All the banks, big and small, are hit by rapidly increasing lending rates. The bigger the bank, the bigger the loss on their sovereign bonds. They bought them when interest rate was low, now the rate on their borrowing is higher than what the premium on their sovereign bonds bring, so they chalk up very big losses. As the loss on bonds is paper loss, they don't have to show it on their balance sheets, hence the suspicion that they intentionally hide huge losses. Fear and the vultures move in. If central banks have any sense, they should reverse the recent rate increases. They do more harm to the economy than inflation.

It's been proven that it was a bomb that caused tragedy.

Eyewitness accounts of the colour of the initial explosion. A totally different colour to what Hydrogen burns. But it's nasty stuff.

Over the next couple of decades, solar is going to be even much cheaper than current price

Fundamentally, I don't disagree with your conclusion, yes energy does get much cheaper, however will that translate to lower end user prices...

Fundamentally, I don't disagree with your conclusion, yes energy does get much cheaper, however will that translate to lower end user prices...

In a couple of decades, third world countries would soon be able to buy small and cheap nuclear reactors, demand for fossil fuels will crash. So yes, I think electricity price will come down. However, energy price has been a tax tool for a very long time. Just look at how much taxes we pay on petrol. A barrel of crude oil costs £60. Refineries get 193 L equivalent of petrol in products out of one of them. So the material cost of your petrol is 31p per litre, yet we pay 150p or more. Still, we pay comparatively less tax on petrol than on electricity. My guess we can buy petrol at many places while we have to contract with a single electricity company.

There ought to be cooperative or not for profit electricity suppliers.

The run on Deutsche Bank does not surprise me. All the banks, big and small, are hit by rapidly increasing lending rates. The bigger the bank, the bigger the loss on their sovereign bonds. They bought them when interest rate was low, now the rate on their borrowing is higher than what the premium on their sovereign bonds bring, so they chalk up very big losses. As the loss on bonds is paper loss, they don't have to show it on their balance sheets, hence the suspicion that they intentionally hide huge losses. Fear and the vultures move in.

 

It must be more complicated than that surely, when the same form of error has been touted by the media as reasoning for the failure of two large banks, who presumably have adequate resources to assess risk and hedge to the gills?

Eyewitness accounts of the colour of the initial explosion. A totally different colour to what Hydrogen burns. But it's nasty stuff.

 

Could that have been because higher temperatures occur in explosions, causing metals to burn? The composition of which is controlled to colour fireworks.

Edited March 28, 20233 yr by guerney

It must be more complicated than that surely, when the same form of error has been touted by the media as reasoning for the failure of two large banks, who presumably have adequate resources to assess risk and hedge to the gilts?

it's not just the gilts. Large banks participate in interest and default swaps. If DB went down, holders of their bonds and insurance (default swaps) won't be repaid. The cost of insuring bonds issued by DB went up surprisingly fast a couple of weeks ago, prompting investors to sell their bonds in droves which induce fear to their depositors who then moved their money elsewhere.

The real culprits are everyone. We asked our government to spend big when covid and the war in Ukraine struck. Inflation follows inevitably. Now we want our pay to keep up with inflation. So who is going to pay back the borrowed money? As usual, the poorest and most defenceless who spend all their money on first necessities. Inflation rates are highest in first necessities like food, energy, transport and housing.

government creates problems, it has to solve it using taxation instead of insisting that inflation created by them is solved by the BoE which has only one tool in its bag and totally predictable and predicted by speculators, landlords and hedge funds alike: push up interest rate. That won't work well this time round.

Could that have been because higher temperatures occur in explosions, causing metals to burn? The composition of which is controlled to colour fireworks.

I can't remember details, there was a TV documentary that explained it all.

 

Edited March 30, 20233 yr by guerney

we're doomed

 

The Mining Industry’s Next Frontier Is Deep, Deep Under the Sea

Companies are diving to the bottom to scoop up metals essential for our EV-driven future. But how much ocean are we willing to sacrifice?

 

https://www.wired.com/story/deep-sea-mining-electric-vehicle-battery/

https://en.wikipedia.org/wiki/Self-replicating_machine#Von_Neumann's_kinematic_model

 

NASA Announces Launch Delay for Psyche Asteroid Mission

https://www.nasa.gov/press-release/nasa-announces-launch-delay-for-psyche-asteroid-mission

 

This Rare Asteroid May Be Worth 70,000 Times the Global Economy. Now NASA Is Sending a Spaceship to Explore It.

https://robbreport.com/motors/aviation/nasa-voyage-rare-16-psyche-asteroid-1234797211/

 

failure of two large banks,

SVB, follow the bailout money, something odd happened, 20 Billion was given to "protect" pay roll/SME from loosing all their deposits, but if we look closely 13.3 Billion went to 10 account holders, did they just bailout 10 Billionaires? I suppose time will tell.

From https://www.bloomberg.com. Saudi Arabia makes-surprise 500,000 barrels a day oil output cut as part of

OPEC+ 1 Billion barrel cut.

And prices go..?

From https://www.bloomberg.com. Saudi Arabia makes-surprise 500,000 barrels a day oil output cut as part of

OPEC+ 1 Billion barrel cut.

And prices go..?

 

Usual OPEC move, never miss an opportunity to worsen a shortage to raise prices.

.