SHOW NOTES:
https://www.whatbitcoindid.com/podcast/doomberg-on-energy
Doomberg is an anonymous collective producing the world’s most popular financial substack. In this interview, we discuss the roots of the 2022 energy crisis, why nuclear power needs to be the basis of our energy needs, and how pragmatic decision-making is needed if we’re to best fulfil our energy needs.
THIS EPISODE’S SPONSORS:
Gemini – https://www.gemini.com/
Wasabi- https://www.wasabiwallet.io/
Ledn – https://www.ledn.io/
Fidelity Investments – https://crypto.fidelitycareers.com/
Ledger – https://www.ledger.com/
BCB Group – https://hubs.ly/Q011cb730
TIMESTAMPS:
00:00:00 Introduction; what energy did: 2022
00:05:51 Nuclear’s importance; nuclear FUD
00:14:47 Fast tracking nuclear & issues in France; LNG bottlenecks
00:22:24 Nuclear energy payback; environmentalism critiques
00:31:36 Explaining energy; Doomberg on climate change
00:36:11 Renewables; battery tech constraints; EVs/hybrids
00:46:15 Cobalt mines; forced labour & solar; NIMBYism
00:53:25 Views on Bitcoin, Predictions for 2023
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****
“Harnessing low-energy fuels is an entirely different challenge, as we’re finding out, and Germany is finding out the hard way; look, everywhere it’s tried it ends up with a more expensive grid, a dirtier grid, and a less reliable grid.”
— Doomberg
Doomberg is an anonymous collective producing the world’s most popular financial substack. In this interview, we discuss the roots of the 2022 energy crisis, why nuclear power needs to be the basis of our energy needs, and how pragmatic decision-making is needed if we’re to best fulfil our energy needs.
– – – –
Just a few years ago energy was abundant and cheap. The oil crisis of the 1970s was a historical anomaly. The assumed understanding was that between governments, major energy companies and the markets, energy provision was becoming more reliable and cost-effective. The Russian invasion of Ukraine showed how paper-thin this impression of the energy sector was.
Systemic underinvestment in energy infrastructure, particularly nuclear, has left the industry vulnerable to shocks. And Ukraine has been a heck of a shock. Long-term political strategies for energy provision have had to be rewritten in real-time. The market, unsurprisingly, has been volatile to the upside. One in three UK families are expected to be in fuel poverty in 2023.
But, obviously, energy is not a discretionary spend. We all need a minimum material quantum just to survive. It is clear, now we’re self-rationing energy, how vital it is to our way of life. Humans flourish with access to energy. The flipside is a retardation of civilisation. So, whilst limitless cheap energy is still decades away, can we supply sufficient energy for our society to prosper?
Fundamentally, are we making the right decisions to facilitate the best use of resources? Nuclear power is both reliable, efficient, safe and direct power generation that is carbon-free. Why has investment been curtailed? Material bottlenecks mean we can’t produce enough batteries for EVs. So why aren’t we maximising the benefits of battery tech through use of hybrids?
Ideology and nimbyism have counterproductive effects: serious harm is outsourced to the poorer areas of the world whilst leaving us with insufficient infrastructure at home. Clearly, decisions need to remove dogma and deal with the world as it is. The frustration is that we have the skills and knowledge to resolve this situation. We just need to bring pragmatism out of the dark.
source
"Why the hell are you watching a green chicken?"
"Shhh, quiet! I'm learning about global energy markets."
Interesting conversation. Strongly agree that Nuclear energy is needed as base, and that Russia was likely behind Germany's push for de-nuclearization. Afraid he lost me when he went on a tirade against wind energy.
Thanks for your time and expertise
At $5,000 he'll say he's waiting for $3,000
What is a bitcoin?
Fiat is BS but IMO Bitcoin is the image of a secure asset with no real secure asset behind it
And Bitcoin is Fiat – they were all inflated into "existence" not actually mined
Peter Alex Epstein is considered as a “conspiracy theorist”. This term is used as a first resort without proper facts. Please dont sink to MSM tactics
Love the show, but I read somewhere that regarding wildlife that due to improvements in wind power there's a lot less wildlife killed at least when they are constructed compared to something like cats by orders of magnitude, true or am I mistaken? I was already believer nuclear but you just that. I appreciate you talking about how quickly nuclear power could be constructed if it was a priority
Doomberg rolled over on bitcoin. The NAV of bitcoin has to be a negative number. Total nonsense! Best wishes.
Doomberg is Dumb af, nice change of pace from the BTC Geniuses uve had on lately. I hate when people talk about stuff they have no clue about.
Love Doomberg but he isn't up to date with Tesla's use of cobalt in their batteries. Already by the mid of this year half their cars are entirely cobalt-free. And their new larger sized batteries that are just rolling out now are aimed at becoming their new standard and are cobalt-free. So I think Apple is much more exposed than Tesla on the cobalt issue.
It seems a very strange theory that Russia is behind the closing of the German Nuclear Power plants . First of all at the time of the desicion was made in Germany to close the Nuclear Power plants Merkel was in power ! – You would never find an closer cancelor to the Neocons in the US. ! Its absurd to think RU stands behind this. The fact that NS 1/2 was blowen up by NATO allowed the US to sell LNG for 4x Price than in US.! Dont forget that RU is a big supplier on nuclear fuel too(which also goes to US) and also a builder on Nuclear Power plants. RU was supplying West-Europe with cheap gas for decades. This was not in the interest of the US at all. Its clear that the cooporation between G and RU in natural gas and the low price was always a "problem" for US and they become concerned. That is probably one of the reasons of this war in UA.
It's easy to lower population – incentivise pumping out fewer pups.
Nuclearizing energy, not so easy and produces waste that lasts a loooong time.
No kids, no humanity in… what? 90 years? Fewer kids, less humanity (or stable humanity).
Nobody needs to be killed. What's he talking about? – 12:40
This is one of the best episodes on energy I’ve heard in a while. Exeptional guest, easy to listen to, solution-oriented & thinking like an engeneer.
wishful thinking, nuclear is excellent, but the policymakers are moving away from it, and it will not change anytime soon. Nice to hear his opinion, but no value from it.
Is he Ben Shapiro?
Doomberg certainly does an excellent job with competent science understanding and solid economics. He and you did not address the economic factors of nuclear. The cost is heavily driven by excessive regulation.
Again, excellent interview.
What Doomberg misses is bitcoin as the secure digital bearer instrument globally. My company is working on global routing and increased fiber onion optic capacity.
He’s also wrong on China because its debt to GDP was in fact 600%. Its accumulated more debt than the rest of the world combined and non productive industries. It’s a giant Ponzi just like FTX.
This bozo makes a convincing sounding argument but unfortunately he can't see past the end of his own beak. I almost gave up completely when he started saying that plug-in hybrids were superior to BEVs. Shame nobody asked said bozo how much electricity it takes to refine crude oil before he started quacking. Look up an old video on the fullychargedshow YT channel called Volts for Oil for some perspective on how much it takes (in the UK two cities worth of electricity). Also consider that hybrids are constantly lugging around 2 different types of engines for most of the their miles driven. It's much more efficient to charge a BEV battery than to make petrol or diesel. Hybrids favour car dealership/servicing networks more than end consumers. This is why traditional car manufacturers love them.
He makes a lot of good points but always seems to present an incomplete analysis. I would say he has connections to traditional energy
Ummm, I'm not sure about this talking green bird. He made some interesting points (e.g. the cobolt mining) but some of the incendiary language spooked me a bit e.g. describing wind power as an atrocity. That seemed a bit much. The fact that the UK at times gets 56% of it's electricity from wind doesn't seem that atrocious to me. The notable anti-environmentalism also seemed over-the-top. He seemed to equate that not wanting people to drive SUVs equalled lowering standards of living. I hardly think that SUV ownership is a valid standard of living measure. I also don't think that green activists are motivated by some Malthusian desire to limit the number of people. I think they want a minority of the global population to live more sustainably. It was broad brush comments such as these that made me question his credibility and motivation. Not sure what to make of this person.
This host. He does not hesitate to claim informed, logical, anti communist, Libertarian thinkers do not care about the environment. But he hates when you explain to him that scientifically illiterate democrat liberal socialist commies want us to live in teepees. Even though the latter is MUCH more true than the former.
I lived in Texas for 20 years and I just moved to California. I feel like sometimes people are judging me because I drive a big suburban truck. I was asking myself why people were giving me a attitude or dirty looks and one day it dawned on me that it was because I have a big gas guzzler .
I do believe that there's a lot of people who dislike people who have "what they consider " excess ..
I think Doomberg misses a few things. One that stands out is that deglobalization will be good for bitcoin.
At the end of the day, as the privately owned international financial scam collapsed in September 2019, the whole climate-thing is just another way to transfer wealth, power and control from the peasants to the 0.0001%. Look what happened to global debt from March 2020 onwards. It's another way to empty taxpayers' pockets to the few behind investment conglomerates. Of which one of them seems to be your sponsor, by the way. The executive branch sits in also privately owned clubs like the UN and WEF, forcing the ESG/SDG-agendas upon "our" corrupt regimes. E.g., carbon footprints is thus another tax-instrument.
Hi Doomberg, I love your contributions. My comment from good old Germany: Don’t underestimate the ignorance and arrogance of the political system over here.
Don’t get the fascination with this guy. Owns no bitcoin, but he would be a buyer at 5k (for something that has an unlimited upside). But also claims the regulatory regime will never allow it (they already allow it). Laughable. He doesn’t seem to care that all markets are manipulated & controlled prices. Doesn’t care about solutions to problems unless it’s to pump his energy stocks when people start to die from lack of affordable energy.
Cool. He understands political grift & corruption when it comes to energy. What’s the solution?
ENOVIX for batteries