Homeopathy to Cure Global Warming!
I sometimes ask myself at the age of 92 why I have such a keen interest in the future? Electric cars, driverless cars, space travel, financial systems. energy innovation, artificial intelligence.
Because, come on, be realistic. As realistic as Warren Buffet, who, when asked by a young salesman to make an investment that would double in price in 12 months said - ‘Listen sonny, at my age I don’t even buy green bananas’.
But I can’t help it, and when I read in an energy newsletter that the future is carbon fuelled cars it has me excited.
Yes, carbon, one of the main villains of global warming could be the saviour. It reminds me of the homeopathic principle - (What causes - Cures) or ( Like cures Like)
Both President Trump and the book ‘Abundance’ are relaxed about the carbon CO2 threat because they either believe it’s cyclical or say technology will save the day – could they be right? – read on -.
Back in 2004, the film ‘The Day After Tomorrow’ depicted the end of the world, as we know it, through extreme changes in weather that plunge us into another Ice Age.
In the film the cause of these extremes in weather was global warming and while the science is wildly inaccurate, there has been something ominously truthful in its predictions.
This year in the UK alone, we had record heatwaves, forest fires and snow in March. In the US it’s been even more extreme – as shown by the tragic California wildfires.
In order to prevent further warming, drastic changes need to happen, with the UN stating the world will require a transformation in society that is “unprecedented in scale”.
Even with an apocalyptic warning, such as the fire in Paradise, California, people still hope global warming is a weather pattern that will pass.
For most people the resistance to global warming is less an objection of the science, and more an objection to the lifestyle changes needed if they accept it as true.
As cited above, the transformation in society would be unprecedented, it would affect all walks of life, and people are resistant to change.
They are rejecting the solution to climate change because it does not offer any choice.
The automotive industry is a prime example; the only viable solution offered up is electric vehicles. But, for people who already own combustion cars the move to expensive electric vehicles is not an easy option.
Some bought themselves a diesel car to get cheaper tax. Now they are being told that was the wrong decision. Diesel is worse, and they must purchase an electric vehicle. Unsurprisingly, they are frustrated by the prospect.
Moreover, despite their benefits to the climate, electric vehicles are not without flaws. The infrastructure for electric vehicles, for example, is expensive. It’s currently costing the tax payers £400 million for a charging network.
Yes, electric vehicles will play a crucial role in the development of our society. They are inherently a good thing. They create cleaner, less polluted environments, they are on the whole carbon neutral and it is a step away from fossil fuel reliance.
But what about offering a choice? Giving people an option to be climate change aware without a dependence on electric vehicles.
There is a company out in Squamish, Canada, that offers this option. It is called Carbon Engineering and it is using carbon to create fuel. What is so clever about its approach to climate change is that it has succeeded in making the problem part of the solution. Remember – The Homeopathic Principle!
By using its DAC (direct air capture technology) Carbon Engineering sucks air out of the atmosphere and refines it, removing the carbon. It then combines the carbon with hydrogen and water to create a fuel that is chemically identical to the fuel used by vehicles today.
Not only is it chemically identical but it is high performance, it burns clean and it is carbon neutral. What this means is it has created a fuel that is great for your car (better than the petrol or diesel we use today), it is less pollutant – making our air cleaner – and it doesn’t contribute to global warming.
For most people, going “green”, is difficult because it results in changes to everyday life and takes away the things they enjoy.With this technology, they don’t have to do that (at least from the automotive sense). They have the choice either to go electric or to carry on as they are.
As with everything, Carbon Engineering does have its drawbacks. Unfortunately, it has similar pitfalls to electric vehicles. The plants use a lot of energy to operate and if this energy is not supplied by a renewable source then, like charging your vehicle that gets its electricity from the oil-powered plant, it is no longer a completely emissions-free endeavour.
However, this is not a finished project, it is still a private company looking for investors and if you compare it to other carbon capture companies such as the European company Climeworks, which is using CO2 to boost plants photosynthesis, its running costs last year was $600 per tonne of CO2.
Carbon Engineering has not only developed a fuel that is carbon neutral but it goes one step further. It actively removes carbon from the air. Using the same DAC technology, which refines carbon for fuel, it can remove the carbon and store it underground.
Therefore, when using the carbon neutral fuel that Carbon Engineering produces, plus the safe removal and storage of carbon underground, one can contribute negative emissions.
What this means is that while driving, you could be actively contributing to the removal of CO2 from the atmosphere, rather than its production.
Unfortunately, the company is still private, but its potential is massive. Its current investors include Bill Gates, and you can be sure that it will be making headlines in the future.
Acknowledged - Extracts from ‘The Exponential Investor’-DONOVAN MATTHEWS.