Bumble

This chart compares the cost of some common energy storage solutions (CAES is compressed air). For comparison, a Tesla Megapack currently works out at about $500 per kWh. What charts like this often don't show is that the cost of storing oil, which only requires a steel tank, works out at less than 1 cent per kWh. Astonishing: I had to check the numbers. Storing energy in batteries is about 30,000 times more expensive than storing it as oil. Or, to put it another way, one $2.4 million Tesla Megapack stores 3,900 kWh, which is the same as about two and a quarter barrels of oil, which can be stored for about 35 cents. 

Interestingly, the UK is one of the worst places in the world to try to generate solar power. Just too cloudy. For the benefit of Scottish readers, the sun is that yellow thing that occasionally appears in the sky and hurts your eyes when you gawp at it. 

Interestingly, the UK is one of the worst places in the world to try to generate solar power. Just too cloudy. For the benefit of Scottish readers, the sun is that yellow thing that occasionally appears in the sky and hurts your eyes when you gawp at it. 

Interestingly, the UK is one of the worst places in the world to try to generate solar power. Just too cloudy. For the benefit of Scottish readers, the sun is that yellow thing that occasionally appears in the sky and hurts your eyes when you gawp at it. 

Interestingly, the UK is one of the worst places in the world to try to generate solar power. Just too cloudy. For the benefit of Scottish readers, the sun is that yellow thing that occasionally appears in the sky and hurts your eyes when you gawp at it. 

Interestingly, the UK is one of the worst places in the world to try to generate solar power. Just too cloudy. For the benefit of Scottish readers, the sun is that yellow thing that occasionally appears in the sky and hurts your eyes when you gawp at it. 

This shows that Wall Street is constantly expecting inflation to revert to the 2% that we have had since the 1990s.

This shows that Wall Street is constantly expecting inflation to revert to the 2% that we have had since the 1990s.

Report available here: https://www.bgs.ac.uk/download/uk-criticality-assessment-of-technology-critical-minerals-and-metals/#

The Fed curtailing its purchase of US bonds is leading to a major reduction in the liquidity of the bond market. The US government bond market is one of the largest and most liquid in the world, so if it seizes up, the consequences will be serious.

Money has been flowing into gold funds, but not gold miner funds. Helps to explain why the gold miners have been lagging behind.

Money has been flowing into gold funds, but not gold miner funds. Helps to explain why the gold miners have been lagging behind.

The Fed are certainly talking tough about raising rates, so I would expect to see more raises this year. Realistically, the base rate cannot go above about 2% to 2.5% without becoming too expensive for heavily indebted governments to service. In the case of the USA, its debt payments, military budget and welfare payments are already considerably in excess of its entire tax revenue. But the Fed has to be seen to be doing something about inflation. This is an election year in the USA, and only about 25% of Americans own stocks, while nearly everyone is hurt by inflation, especially the poor. So the Fed, under pressure from politicians, will be ready to throw stock holders under the bus to protect the rest. Yes, it makes your stock portfolio go down and the value of your house go down, but if you have those you've done incredibly well in the last ten years, so a bit of pain won't be too bad for you. Inflation, on the other hand, is insidious and destructive, and can easily get out of control. I suspect the Fed won't return to easing again until the economy crashes and unemployment is rising sharply.

The Fed are certainly talking tough about raising rates, so I would expect to see more raises this year. Realistically, the base rate cannot go above about 2% to 2.5% without becoming too expensive for heavily indebted governments to service. In the case of the USA, its debt payments, military budget and welfare payments are already considerably in excess of its entire tax revenue. But the Fed has to be seen to be doing something about inflation. This is an election year in the USA, and only about 25% of Americans own stocks, while nearly everyone is hurt by inflation, especially the poor. So the Fed, under pressure from politicians, will be ready to throw stock holders under the bus to protect the rest. Yes, it makes your stock portfolio go down and the value of your house go down, but if you have those you've done incredibly well in the last ten years, so a bit of pain won't be too bad for you. Inflation, on the other hand, is insidious and destructive, and can easily get out of control. I suspect the Fed won't return to easing again until the economy crashes and unemployment is rising sharply.

The Fed are certainly talking tough about raising rates, so I would expect to see more raises this year. Realistically, the base rate cannot go above about 2% to 2.5% without becoming too expensive for heavily indebted governments to service. In the case of the USA, its debt payments, military budget and welfare payments are already considerably in excess of its entire tax revenue. But the Fed has to be seen to be doing something about inflation. This is an election year in the USA, and only about 25% of Americans own stocks, while nearly everyone is hurt by inflation, especially the poor. So the Fed, under pressure from politicians, will be ready to throw stock holders under the bus to protect the rest. Yes, it makes your stock portfolio go down and the value of your house go down, but if you have those you've done incredibly well in the last ten years, so a bit of pain won't be too bad for you. Inflation, on the other hand, is insidious and destructive, and can easily get out of control. I suspect the Fed won't return to easing again until the economy crashes and unemployment is rising sharply.